Highlights

  • Kraken supports the technology behind Origin’s retail energy customer operations.
  • Origin reported 243,000 additional retail customer accounts in FY26.
  • Retail cost to serve declined to $642 million from $698 million in FY25.
  • Kraken Technologies separated from Octopus Energy in July 2026.
  • Digital service delivery creates operational, billing and data-security responsibilities.

Origin Energy Limited (ASX:ORG) supplies electricity, gas and other energy services to Australian households and businesses, alongside generation and integrated gas activities. The company uses the Kraken technology platform within its retail operations to support customer management and service delivery. Its FY26 reporting connects retail account growth and lower service costs with continued investment in technology and changing arrangements for the Kraken business.

How the Kraken Platform Fits Retail Operations

Origin Energy Limited (ASX:ORG) has used Kraken to modernise the systems supporting its retail customer relationships. A consolidated retail platform can bring together account information, billing and customer service workflows rather than requiring separate processes for each interaction. The company reporting links digital operations and service improvements with cost-to-serve performance, but does not disclose the full technical architecture or every automated decision rule.

Software-supported account management can reduce duplication across service processes. However, published FY26 materials do not quantify the effect of individual automated workflows on billing accuracy or response times.

Retail Scale and FY26 Customer Measures

For FY26, Origin Energy Limited (ASX:ORG) reported adding 243,000 retail customer accounts. The company also disclosed cost to serve of $642 million, compared with $698 million in FY25. These figures describe the broader retail business and should not be attributed solely to software changes; customer mix, operating processes and other expenses can also affect the result.

Retail service delivery involves processing customer requests, maintaining accurate account records and responding to payment or billing matters. As more activity is handled digitally, reliability and effective escalation remain important. A lower reported cost base does not, by itself, establish that every customer interaction has become faster or that billing errors have been eliminated.

Smart Energy Services and Flexible Demand

Origin Energy Limited (ASX:ORG) also provides energy services linked to distributed energy resources, including solar, batteries and electric vehicles. Digital platforms can support customer participation in energy products that respond to different usage patterns. Specific charging schedules depend on the customer product and supported equipment.

The functions of smart-charging products vary with equipment, consent and tariff conditions. The digital retail platform and individual energy offers should therefore be distinguished.

Kraken Separation and Origin’s Economic Interest

A separate corporate development occurred in July 2026 when Kraken Technologies formally separated from Octopus Energy and completed a US$1 billion standalone equity raising. Origin Energy Limited (ASX:ORG) disclosed investing $210 million in that raising and holding a 22.7 per cent economic interest across Octopus Energy and Kraken. The ownership development is separate from the day-to-day use of Kraken within Origin’s Australian retail business.

In FY26, Kraken Technologies reported revenue growth of 19 per cent, while contracted customer accounts reached 95 million. Those figures relate to Kraken’s wider technology business, not the number of retail customers served directly by Origin in Australia. Maintaining this distinction prevents contracted platform accounts from being confused with Origin’s reported retail additions.

Operational and Customer Information Risks

Technology-supported energy retailing depends on accurate data, reliable systems and appropriate information security controls. Origin Energy Limited (ASX:ORG) disclosed a customer data security incident in its FY26 results, with its review continuing at the reporting date. The disclosure underlines the importance of customer support, information governance and incident management alongside the operational efficiencies associated with digital platforms.

Key Insights

Kraken is part of Origin’s broader retail operating model, while its corporate separation created a distinct investment exposure for Origin. FY26 account growth and cost-to-serve results provide operating context without establishing the impact of individual automated functions. Digital systems, customer information practices and reported retail outcomes remain separate considerations in assessing the business.