Octopus Energy inks the UK energy market

Last update: February 2021

Octopus Energy
Founded	2015
Client Email	hello@octopus.energy
Client Number	0330 808 1080
Log in	Log into your Octopus Energy account here
Number of clients	600,000

Spreading its tentacles to 1.5 million people in the UK, it has been making a name for itself in the UK’s big six during its first five years of business. Octopus energy is one of big names in the UK and has won awards for its forward thinking in green energy.

The ‘Green’ sheep of the big six family

Octopus is one of the greenest energy suppliers on the market. They provide 100% green electricity to their customers. In terms of gas, they do their best to offset much of their customers' usage.

The natural gas from octopus energy, on the other hand, isn’t green, but very few suppliers currently claim to be able to provide green gas for their customers. Customers who decide to go for a Super Green tariff also get all their gas carbon offset by Octopus. This means that what you use in gas, they then buy back from the grid. Again, this makes Octopus green tariffs a good option compared to others on the market

It's important to note that they are the UK's largest investor in solar energy. 40% of all solar energy is generated from these farms that are funded by the Octopus Group! So green energy is certainly at the forefront of their business model

Do Octopus have a renewable energy plan?

Yes - their Super Green tariff is one of the greenest plans on the market. Not only does it offer 100% renewable electricity, which is the case for all of Octopus' plans, they also offset all the gas you use through this plan. This means that your energy consumption is carbon neutral.

As well as this, Octopus are aiming to plant 10,000 trees in the UK as part of their carbon offsetting plans. They want to offset 20,000 tonnes of CO2 released into the atmosphere.

How does carbon offsetting work?

Octopus Energy works with a partner company called "Renewable World"in order to carbon offset the gas they sell to their customers. Renewable World is an organisation which works around the world to tackle poverty through the use of renewable energy. When it comes to carbon offsetting in particular, the techniques used to balance out the carbon created by an energy source include the following:

• Taking CO2 out of the atmosphere by planting trees so soak up the carbon micro-particulates, or working to maintain existing carbon sinks"
• Providing low carbon energy alternatives for places which would otherwise have to use fossil fuels which generate high emission levels.

Why doesn’t Octopus Energy supply green gas?

The answer to that question is fairly simple. ‘Green gas’, which is offered by some suppliers in the UK is more expensive that the conventional alternative, and Octopus Energy are always working to keep prices as low as possible for their customers. In addition to this is the fact that green gas has some features which make it slightly less eco-friendly than you might imagine. Green gas takes the form of bio gas, which is created when you heat the following types of natural matter in sealed containers:

• Food waste
• Animal slurry
• Vegetation

Once this gas has been created it has to be transported to the distributor using trucks which travel by road, using large amounts of petrol and belching out fumes. Instead of supplying bio-gas directly on this way, Octopus Energy opt to use it to generate cleaner electricity which they can then supply directly to customers. Gas customers who want to do a little bit more for the environment can pay a small fee to go on the Super Green tariff and have the carbon generated by their gas use offset.

How is Octopus Energy able to guarantee the green nature of the electricity provided?

Much of the electricity which Octopus Energy sells to customers comes from solar sites which are run by Octopus Group, the parent company of Octopus Energy, which is the largest investor in solar farms in the UK. If it has to but any energy from other sources it provides customers with a Renewable Energy Guarantee of Origin certificate

Is the Green Energy provided by Octopus Energy affordable?

The short answer to that question is yes. Of the other suppliers of green energy in the UK, only Bulb seem to offer a lower KWH price for gas and electricity, but their standing charges (the daily rate which is charged on top of the amount for usage to cover the cost of transporting the energy from its generating source to the customer) are 4 pence per day higher for gas.

Talking about price, let's get down to business.

Octopus' electricity, gas and dual energy plans

Octopus Energy has a range of fixed and variable tariffs to choose from, including innovative tariffs and their standard plans. However, no matter how innovative the tariff, none of them have exit fees. Despite the fact that it is not quite their cheapest tariff, the Super Green is the most popular tariff offered by Octopus Energy, presumably on the grounds that it offers carbon offsetting.

Single Electricity

Dual Electricity

Gas

Get locked in: Octopus 12 Months Fixed

This is a fixed plan for 12 months. What does this mean? Well, your tariff won't increase nor decrease for a year after you sign up, so you won't be shocked by any sudden price changes and can plan your finances accordingly. The standing charge are also fixed!

Like all other tariffs from Octopus, there are no exit fees.

2021 prices are:

• Electricty Unit rate: 14.97 p/kWh
• Electricty Standing charge: 21.67 p/day
• Gas Unit rate: 2.28 p/kWh
• Gas Standing charge: 17.85 p/day

Get Flexible: Octopus’ Variable Tariff

As a variable tariff, the cost of your energy will change depending on fluctuations in market prices. Suppliers often change the costs of their energy plans to reflect extra costs on their ends. So, every month, your energy bill will probably look different. They might be higher, but just as they can go up, they can also go down. This plan is dual fuel only, meaning you can't opt for it if you just want a gas or electricity tariff.

Like all other Octopus plans, there are no exit fees for this plan. This means you can switch to any other tariff at any other time, with no hidden or hefty costs.Also, like with all of Octopus Energy plans, they provide 100% renewable electricity for their customers.

2021 prices are:

• Electricty Unit rate: 15.52 p/kWh
• Electricty Standing charge: 19.38 p/day
• Gas Unit rate: 3.2 p/kWh
• Gas Standing charge: 16.8 p/day

Is your mind feeling a bit too octipied? Let us lend you a helping hand. Our experts at Switch Plan can provide you with an array of energy suppliers to choose from so that you won't have to look anywhere else when you want a bit of change in your energy needs. Just give our experts a call at 0330 054 0018

Super Green Octopus

Also a fixed tariff plan but what makes this plan 'Super Green'? Well, not only is the electricity provided on this plan 100% renewable, they claim to offset all gas used via this plan. While all of Octopus' plans are 100% renewable for their electricity, gas is another story. That's where this plan differs.

This plan is only available to dual fuel customers, meaning you can't opt for this plan if you just want gas or electricity from Octopus.

2021 prices are:

• Electricty Unit rate: 15.03 p/kWh
• Electricty Standing charge: 21.67 p/day
• Gas Unit rate: 2.96 p/kWh
• Gas Standing charge: 17.85 p/day

Octopus Tracker

Being a 'tracker' tariff, the price you pay for energy changes everyday. This is because wholesale market prices for energy change on a daily basis, so the price you pay for your energy varies depending on market changes. Usually, if there are any drastic increases in energy, your supplier will let you know so you can plan your finances accordingly.

Like all Octopus tariffs, Octopus tracker doesn't include any exit fees! This means that you can switch over to a different plan, or even a different supplier, before the end of your contract and not face any hefty fees!

Octopus Go

As well as the standard tariffs set out above, Octopus Go also offers a number of specialist tariffs, which go some way toward explaining the popularity of this energy supplier. These include the octopus Go tariff, which is especially designed for people who drive and have to charge electrical vehicles. Indeed during the four off-peak hours at night (12:30am to 4:30am), you get very cheap energy. It's just 5p per kWh!

Given this is a smart plan, you're going to need a smart meter. And, as is the case across all plans by Octopus, you won't pay any exit fees if you decide to cancel your contract early and switch to a different tariff.

Agile Octopus

Another specialist option is the Agile Octopus tariff, which adjusts prices every half hour on the basis of the wholesale energy market. At 4pm every day customers on this tariff will receive information setting out the unit rate for gas and electricity for each half hour during the next 24 hour period. Armed with this detailed information the customer Agile Octopus customers are able to minimise their energy consumption when energy is more pricey, and save money by using more energy when it's cheaper.

This tariff uses smart technology, allowing you to stay on top of your finances and make sure your consumption is as green as possible.

With this plan, Plunge Pricing is also made available to their customers. This is when the cost of energy drops below zero, because more energy is being produced, rather than consumed. So, instead of paying for your energy, you actually profit from this tariff, which is pretty cool. So, if pricing is important to you, this is a great plan to choose.

Do Octopus have Economy 7 tariffs?

Octopus have lots of Economy 7 tariffs, meaning that your electricity bill will look different during the day and at night. This is because the price of the electricity is decided based on the demand for electricity. At night, there is less demand for electricity, so the cost per unit is far cheaper than during the day.

Octopus 12 Month Fixed:

• Eco 7 Electricity Day unit rate: 17.57 p/kWh
• Night unit rate: 10.59 p/kWh

Octopus Super Green:

• Eco 7 Electricity Day unit rate: 17.57 p/kWh
• Standing charge: 23.58 p/day

Flexible Octopus

• Eco 7 Electricity Day unit rate: 18.20 p/kWh
• Night unit rate: 13.37 p/kWh
• Standing charge: 22.05 p/day

The variation in price between peak of off-peak prices depends on a few things, such as where you live and the tariff you choose.

What is Octopus' best plan?

Remember, there is no best plan from any supplier. It's important to pick a plan that best suits your household's energy requirements, which will definitely be different from other people's. So, while it's important to read plenty of reviews, and talk to your friends about their plans, the best and most foolproof way to know which plan is optimal for you is to call us and chat through your priorities.

It's not all about price, but about your environmental priorities too. So give us a ring on 0330 054 0018 and one of our experts will find you the best Octopus Energy plan.

What do customer reviews say about Octopus Energy?

It’s often said that the ethos of a company is set from the very top of the company down. If that’s the case then it might be safe to assume that the customer service at Octopus Energy is excellent, based on the fact that the founder and head of the company, Greg Jackson, spends time every working day actually picking up the phone and dealing with customer queries. This is tangible when you study Octopus Energy's customer reviews.

In addition to this recommendation, the UKPower website rated Octopus Energy as the top rated supplier in the country, with a customer satisfaction score of 83%. It’s a similar story over at Trustpilot, where 34,721 customer reviews have resulted in customer ratings which are 91% excellent and 5% great. A typical Trustpilot comment on Octopus energy is the following:

“I have found Octopus to be extremely efficient and quick to answer any queries I have. My brother recommended I switch to you, and I am very pleased to have done so. Keep up the good work!”

The consumer organisation Citizen’s Advice publish annual ratings for energy suppliers and, under these ratings Octopus Energy were ranked seventh, with a score of 3.85 out of 5 based on customer rankings on factors such as:

• Number of complaints
• Ease of contact
• Bills which are clear and easy to understand
• Ease of switching

What other services does Octopus Energy provide?

Does Octopus energy supply to customers with prepayment meters?

If you use a prepayment meter then you will need to email Octopus Energy at prepayment@octopus.energy and provide the following information:

• Your address including postcode
• Do you use a card and/or key to top up your meter(s) or can you do it via an app?
• Do you have a standard meter or an Economy 7 meter?
• What is the amount of energy you use in KWH? If you use an Economy 7 meter then you’ll need to break down your usage to day and night.

I have an electric vehicle - what are my options with Octopus?

• The Octopus Electric Vehicle's initiative means that anyone who owns an electric vehicle can charge it for a very reduced rate, and even lease out the vehicle.
• Octopus Energy even have deals with electric vehicle companies, meaning you can opt for a monthly plan and get a good deal on your new car. This way, you can also get a great deal on your car insurance with Octopus, and be eligible for discounts and other deals and plans.
• Octopus Energy will also install your EV charging port for you in your home.
• Now, pick your EV energy tariff. Octopus have an energy tariff for your EV needs, called the Octopus Go tariff. With this tariff, you get much cheaper rates on electricity when you want to charge up your car. During off-peak times, such as between 12:30am and 4:30am, electricity costs per kWh can go as low as 5p.

So, not only can you buy and insure your new electric vehicle for a reasonable price with Octopus Energy, you can also charge it and maintain it for a very fair price. They have support services for anyone on this tariff available.

As with all of Octopus' energy plans, there are no exit fees, so you can switch to a new plan, or even a new supplier, whenever.

Will Octopus install a smart meter in my home?

Yes!

• Octopus offer their customers smart meters and, unlike some other independent energy suppliers, you are eligible for one no matter where you live.
• They are also trying to install the latest version of smart meters on the market, which will allow you to keep your smart meter if you switch over to another supplier, instead of having to get a new one installed, which is nifty.
• To make the most of Octopus' energy tariffs, you should definitely consider getting a smart meter installed. This is because, with an Octopus Energy smart meter, you can track your energy consumption and see when tariffs go up and down. If you opt for the Agile Octopus tariff, this will be very handy!
• If you already have a smart meter, you might be able to switch to Octopus Energy without having to get a new one installed, but it depends on the smart meter you currently have. So, if you have a first generation smart meter, it has to be a secure meter, and then you can switch over to Octopus without the need for another installation. If it's not secure, you will have to upgrade.
• If you have a second generation smart meter, then you can go ahead and switch with no problems and no further installation.

Do Octopus have business energy deals?

Octopus Energy business tariffs are pretty varied and exhaustive. They have 3 main business tariffs to choose from, and like their domestic tariffs, their electricity is 100% renewable.

• If you want a very green business tariff, then you should opt for Octopus greenest business. This is a fixed tariff, meaning that prices stay the same for one year. However, it is a very sustainable tariff and they aim to offset all your gas usage.
• Another fixed tariff for your business is Octopus fixed business. Makes sense. This also means that prices are fixed for one year, so they are not subject to change. However, you can't choose this tariff if you just want a gas plan. It's only available for dual fuel, or sole electricity.
• Finally, if you want a variable tariff for your business, you should choose Octopus flexible business. This means that the prices of the tariff change depending on market price fluctuations, which are pretty constant.

On top of this, none of these plans have any exit fees.

Additional information about Octopus Energy

• In 2000, the Octopus Group was founded by Simon Rogerson and Chris Hulatt. In 2015, Octopus Energy officially began trading as an independent subsidiary company of the Octopus Group, with Greg Jackson as the CEO. Now, the Octopus Group focuses both on energy supply and financial services, as well as investments, healthcare, and property.
• Today, Octopus Energy has over 1 million customers. They have been growing exponentially since 2015, on average gaining around 30,000 customers every month.
• In 2018, Octopus and M&S Energy joined together in a partnership. This meant that Octopus Energy would take over all M&S energy supply. Octopus gained a lot of attention for this partnership, given that SSE was the former partner of M&S. SSE is one of the Big 6, so this demonstrated Octopus' rapid and impressive growth in just 3 years.
• Last year in 2019, Octopus also took on all Coop Energy. This meant that Octopus became in charge of all the energy supply from Coop Energy to their 30,000 customers, allowing them to stay afloat.

What does Octopus Energy need to provide a quote?

If you want to find out whether octopus energy could save you money on energy then you only have to provide a few simple pieces of information:

• Your postcode – since the price of energy varies across different parts of the country
• Whether you want electricity only or gas and electricity (Octopus Energy don’t provide a gas only tariff)
• Your type of meter – choosing from Standard, Smart and Economy
• Whether your energy use is Low, Medium or High

Energy for you and energy for me: A switching bonus

If you’re thinking of switching to Octopus Energy and you know somebody who already uses them, then ask your friend to refer you and, when you switch to octopus Energy, you’ll both receive a credit on your account worth £50. Once you’re an Octopus energy customer you can refer another friend and you’ll both get another £50 credit.

How does Octopus Energy measure energy use?

Of course, different people might have different ideas of what ‘high’, ‘medium’ and ‘low’ energy use looks like, so Octopus Energy provide the following templates, based on national averages:

Low consumption homes – 1 or 2 bedrooms

• Empty on most weekdays
• Built after 1970
• Average energy use – 1800 kWh of electricity and 8000 kWh of gas

Medium consumption homes – 3 to 5 bedrooms

• 3 to 5 occupants
• Some people might be home during the day
• Average energy use – 2900 kWh of electricity and 12000 kWh of gas

High consumption homes – 4 or more bedrooms

• Might have been built before 1970s
• Need lots of heat provided
• Average energy use - 4300 kWh of electricity and 17000 kWh of gas

For a more accurate estimate of how much energy you use, you can get a quote from Octopus Energy based on any recent bill. If a bill isn’t available then an estimate will be used and the accuracy of this estimate will be checked a month or so after you switch.

Contacting Octopus Energy

App

The Octopus Energy app is functional and free! It provides the same service as the Octopus website, allowing you to top up, submit energy readings and contact customer services. Unfortunately, if you are an Android user, you're not in luck. The app is currently only available to Apple users.

Speaking of apps, Octopus Energy has also partnered up with the app 'If This Then That'. This app is integrated with devices in your home to make sure you are using energy in a smart way. You can track how much energy these devices are using and make smarter choices. For example, let's say you wanted to use your hair dryer. The app will tell you when it is cheapest to use this device, so you can plan your hair wash and dry around the cheapest time of the day.

Site

You can head over to the Octopus Energy website which will provide you not only with information about their tariffs, but also allows you to top-up your prepayment card, submit meter readings, and contact customer services. Both the website and the app are very easy ways to manage your account with Octopus Energy.

Social Media

Octopus have all social media pages up and running, and they are pretty hot on customer service on these platforms too. So, if you want a very easy and quick way to get hold off customer service over at Octopus energy, you should head over to their Twitter or Facebook pages.

In person

If you want to speak to someone directly at Octopus, or send them a letter in the post, then you can head to or write to this address:

Octopus Energy - 1 Upper James St, Soho London W1F 9DE, United Kingdom