The UK-based renewable energy provider Octopus Energy plans to reach one million customers in Spain within the next 12 months, marking a pivotal milestone in its European growth strategy. The target reflects rising demand for competitive, low-carbon energy solutions across the Iberian Peninsula.
- Octopus Energy aims to reach one million customers in Spain by 2026.
- The company has over 100,000 customers in Spain as of late 2025.
- Customer growth in Spain is projected at over 900% within 12 months.
- Spain’s installed solar capacity exceeds 45 gigawatts.
- Octopus Group reported a 35% year-on-year increase in European customer acquisition in Q3 2025.
- The expansion is influencing competitive dynamics among incumbent utilities.
Octopus Energy has announced an ambitious goal to serve one million households in Spain by the end of 2026, a significant expansion from its current customer base in the country. This milestone underscores the company’s aggressive push into Southern European markets, where regulatory reforms and increasing consumer interest in green energy are creating favorable conditions for market entrants. The company’s entry into Spain began in 2023, and it has since leveraged its digital-first platform and dynamic pricing models to attract cost-conscious consumers. With over 100,000 customers already enrolled in Spain as of late 2025, Octopus is on track to grow its user base by more than 900% within 12 months. This growth trajectory is supported by strategic partnerships with local solar installers and grid operators to ensure seamless integration of renewable supply. The expansion comes amid rising electricity prices across Europe and strong policy support for decarbonization in Spain, where installed solar capacity has surpassed 45 gigawatts. Octopus Energy’s entry is also influencing competition, pressuring incumbent utilities to improve pricing transparency and service quality. Analysts note that the company’s rapid scaling in Spain could reshape the retail electricity landscape in the region. Investors are watching closely, with Octopus Energy’s parent entity, Octopus Group, reporting a 35% year-on-year increase in European customer acquisition during the third quarter of 2025. The Spanish market is now one of the company’s top growth drivers outside the UK, where it already serves over 12 million customers.