Octopus Energy was founded in the United Kingdom in 2015 by Greg Jackson with the sole purpose of providing cheap, green energy for consumers. The company says it is gaining 30,000 customers on average every day and supplying energy to two million homes quickly.
In this supplier review, we will cover everything from Octopus Energy with its pricing and review, which will help you decide whether this supplier is good for you.
Table of Contents
Does Octopus Energy Sell Renewable Energy?
The simple answer is yes. They sell renewable energy. All of their tariffs offer 100% renewable energy from sources like solar, windmills, biomass, landfill gas, and hydro.
Moreover, to reduce its carbon footprint, Octopus can synchronize the carbon emissions from the gas customers use each month. It also has two wind turbines in East Yorkshire and Caerphilly.
Looking at the stats, 26,900 tons of CO2 have been blocked from entering the atmosphere, thanks to Octopus’ low–carbon energy. This has the same climate effect as planting 365 trees for every Octopus energy customer.
Octopus Energy: Pros and Cons
Pros
- 100% green electricity
- Supplies 100% renewable energy
- Fair and competitive pricing
- Refer a friend to get £50
- Great customer service
Cons
- No green gas (but all carbon offset)
- The smartphone app is poorly reviewed
Octopus Energy: Tariff Option
Octopus Energy offers different ranges of fixed, prepaid, variable, and specialist tariffs, making the provider more flexible and a market leader. We will show you all the tariffs Octopus Energy have to offer to you and display all the prices based on average gas and electricity usage (2900kWh electricity & 12000kWh gas):
There are three main Octopus tariffs to keep in mind-
Octopusfixed- £84 per month on average
This is the most popular tariff among the others. In this tariff, Octopus Energy offers a 12-month fixed energy plan, which is the cheapest available compared to other tariffs.
FlexibleOctopus- £80 per month on average
It is a value tariff pack, but the price may occasionally fluctuate based on wholesale energy costs. This tariff charge could also differ if Ofgem’s price cap is changed. It can be labelled as the variable tracker.
SupergreenOctopus- £85 per month on average
As we know, all Octopus Energy tariffs offer green electricity; this one also comes with carbon-neutral gas. This means that for any gas you use, Octopus Energy will find projects to reduce carbon emissions worldwide.
SupergreenOctopus is the supplier’s most popular option, to be precise, as it is the greenest Octopus tariff. The supplier offsets your gas use too.
Moreover, Octopus offers several other specialist tariffs for smart-meter customers, such as OctopusGo. This tariff is specially designed for electric vehicle users, who can enjoy super-cheap electricity for 5p/kWh every night from 12:30 to 04:30 a.m.
Another good one is the outgoing Octopus tariff. This one is primarily aimed at people with solar and battery storage. You could get paid if you generate your renewable energy through solar panels and battery storage and export it. Again, you have the option to choose between a fixed rate and a dynamic wholesale rate.
Octopus Energy And Smart Meter
- You don’t need a smart meter for the three main Octopus tariffs.
- Octopus will install a smart meter if you wish.
For special tariffs like OctopusGo and agileOctopus, you will need a smart meter. Octopus can link to any secure SMETS1 OR SMETS2 smart meter.
Octopus Energy Referral
Octopus Energy offers a referral scheme. If you refer a friend and he signs up, both of you will get £50 credited to your account after your first bill payment. But one thing to keep in mind: If you want to qualify for the referral scheme, you will need to switch directly with Octopus instead of going through a comparison service.
Octopus Energy: Pricing
Octopus Energy is one of the UK’s cheapest and most reliable energy suppliers. Their fixed tariffs are very cost-efficient, and the supplier is competitive in green energy.
Like most energy suppliers in the UK, Octopus energy pricing is subject to Ofgem’s energy price cap.
In August 2020, Octopus’s 12-month fixed tariff offered 1 kWh of electricity for 14.6p, compared to 15.2p at Shell Energy, 16.9p at British Gas, and 15.9p at EON for a central London postcode. Bulb Energy was slightly cheaper in central London—14.1p per kWh.
Remember that energy prices differ across the UK, depending on where you live. There are 14 energy regions in the UK; the prices vary in each region. So, the amount you will pay for your energy usage depends on how much energy you use and where you live.
Warm Home Discount Scheme
Octopus Energy has started offering warm home discounts to eligible households from winter 2019.
Applications for this year are closed currently. When the application opens again, you will be eligible for the Warm home discount once you get the Guarantee Credit element of Pension Credit (known as “Core Group,” or you are on a low income). But you must fulfil the criteria set by Octopus to get the scheme.
What Payment Methods Does Octopus Energy Offer?
You can complete your payment with Octopus Energy through monthly direct debit. This payment method offers the least hassle. But if you are convenient with other payment methods, you can use that also. Other payment methods Octopus Energy accept-
- Bank transfer
- Cheque
- Credit card/debit card
- Cash via a PayPoint location
Before changing the payment method, contract with the authority of Octopus Energy, and they will guide you to make the necessary changes.
Octopus Energy Customer Service
Octopus Energy provides amazing customer service for end-users. If you have any questions regarding your account or the process of switching to Octopus, you can contact them via Email, phone, or social media. The company said Email is the quickest way to get to the customer service team.
If your inquiry is urgent, you can call them during office hours. When we made a call, a friendly assistant answered our phone in under one minute.
Should You Switch To Octopus Energy?
Yes, it would be best if you switched to Octopus Energy. The company holds many industry awards, and all the good reviews from customers speak from themselves.
The affordable price, excellent customer service, eco-friendly initiatives, and forward-thinking attitudes make them stand apart from other energy supplier companies. As a result, we think Octopus is the best supplier in the UK.
Switching To Octopus Energy: How Simple Is It?
The process of switching to Octopus Energy is straightforward. The company was among the first to sign up for Ofgem’s Energy switch guarantee, which assures a fast and safe switch that will be completed in under 21 days.
- You can directly switch to Octopus Energy using the website
- You can use the price comparison service to switch
- Energy Switch Guarantee assures a fast and safe switch of energy
How Do I Contact Octopus Energy?
Octopus Energy’s contact number: 0808 164 1088
Email address: hello@octopus.energy
Contacting Octopus Energy is free from all UK landlines and mobiles. The lines are open between 9 a.m. and 5 p.m. (Monday through Thursday) and 9 a.m. and 4 p.m. on Friday.
Can You Join Octopus Energy With A Prepayment Meter?
Octopus offers customers prepayment meters. You must email them your details to get a quote and sign up.
Prepayment customers will get an emergency credit of £5 when less than £2 gas credit and £1 electricity credit remain on the meter. You must repay it in full the next time you recharge.
Another perk of using Octopus is running out of credit between 4 pm and 10 am on off days or holidays. Your electricity won’t be cut down. Instead, the cost of extra electricity you use will be added to your meter as debt, and you need to pay it the next time you recharge. This is called ‘friendly credit.’ However, this amenity doesn’t apply to gas.
Customer Reviews On Octopus Energy
Octopus Energy has been a recommended supplier for five years in a row. In 2021, Uswitch named it the energy supplier of the year. It was also voted the best company to work for at the 2019 UK Employee Experience Award, and in 2024, Greg Jackson was awarded the award for the Most Influential CEO.
Apart from this, it gained a whopping five stars on Trustpilot, with a rating of 32,000 reviewers, which is excellent. Many customers commented that it was effortless to control their accounts online and praised the switching process. We reviewed thousands of user reviews, and most seemed very happy and satisfied with the service.
Conclusion
Octopus Energy is one of the best energy-supplying companies in the UK. It narrowly missed the first spot in the customer survey by two percentage points. However, the company claims to be “doing energy better,”- and looking at their track, it seems they are living up to their expectation.
We hope this article has helped you get enough details about Octopus Energy and decide on switching to it.
