A fast-growing UK electricity retailer is preparing to launch into New Zealand, joining 30 companies already offering electricity here.

Octopus Energy have hired a veteran innovator of the industry, Ari Sargent as the managing director.

He told Andrew Dickens there is space for another player to shake-up the industry.

"We are keen to provide clean, affordable electricity for New Zealand consumers."

Octopus Energy has 1.8 million customers in the UK, along with nearly 15 million customers in Japan.

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