E.ON enters deal with Octopus Energy Group ‘to revamp UK energy retail business’

E.ON has signed an agreement with Octopus Energy in a bid to revamp its retail business in the UK.

Newly formed subsidiary E.ONnext aims to facilitate better customer management by utilising a customer platform from Kraken Technologies.

The decision follows E.ON UK’s commitment to restructure its business in the UK – the newly set up subsidiary is expected to generate £100 million earnings before interest and taxes (EBIT) in 2022.

E.ONnext hopes to attract both npower’s former residential and commercial customers from 2020 and E.ON customers from 2021.

In a statement, Chief Operations Officer at E.ON and Board Member Karsten Wildberger, said: “In November we announced that we would successfully reposition our business in the UK and counter the difficult market conditions. The formation of E.ONnext is the key step in achieving this goal quickly and to the benefit of our customers in the UK.

“We’ll leverage the advantages of the innovative Kraken platform to deliver outstanding customer service and at the same time be a long-term cost leader. We believe that this strategy will provide a sustainable future for our UK operations while delivering significant benefits to the whole group – not least through the immense value and re-use of market leading, future-proof technologies and processes that will enable customers to receive excellent service at all times.”

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