892: Is Octopus Energy a Utility or a Tech Company? Nick Chaset Has the Answer

What does a modern energy company actually look like?

In this episode, Nick Chaset, CEO of Octopus Energy US, joins Nico Johnson to explore a question that sits at the center of Octopus’s strategy:

Is it a utility with great technology—or a technology company operating inside energy?

Nick’s career spans California energy policy, years running East Bay Community Energy, and now scaling Octopus in the U.S. He brings an operator’s perspective on what it really takes to build and run energy businesses inside complex regulatory systems.

The conversation also digs into Kraken—the software platform Octopus built internally and later spun out into a standalone, highly successful energy tech company. Nick explains why Kraken’s separation clarified Octopus’s identity, unlocked new utility partnerships, and changed how the company thinks about scale.

AI enters the conversation not as hype, but as one of several forces reshaping demand, operations, and expectations across the grid.

Expect to learn:

🔹Why Octopus calls itself a consumer company that sells electricity

🔹How Kraken grew from an internal tool into a global energy software business

🔹Why partnering with utilities can scale faster than competing with them

🔹Why regulatory engagement should be a profit center for energy companies

🔹What energy leaders must unlearn to build companies that last

If you care about how energy companies are actually built—and rebuilt—this episode delivers a clear-eyed look behind the curtain.

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