U.S. Arm Of Tech-Focused International Retail Supplier Moves To Serve Customers In Northeast (Has Already Entered Texas)

Octopus Energy LLC f/k/a Evolve Retail Energy LLC applied for FERC electricity market-based rate authority.

In the application, Octopus Energy stated, "The Applicant is seeking expedited treatment so that, as soon as possible, the Applicant may begin to act as a retail electric supplier," in retail markets in areas whose wholesale markets are subject to FERC jurisdiction.

As previously reported, another Octopus Energy entity entered into the Texas retail electric market last year by acquiring Evolve Retail Energy LLC. Octopus Energy also recently acquired the residential customer book of Texas retail electric provider Brilliant Energy LLC

As previously reported, Octopus Energy has stated a goal to invest $100 million into the U.S. energy market and target 25 million U.S. energy accounts by 2027