Octopus Energy summary
While it may not be as well-known and established as the Big Six energy suppliers, it is quite clear that Octopus Energy is worth keeping an eye on. To summarise, these are some of its key benefits:
- 100% of its energy comes from renewable resources
- Excellent customer service – a 4.8 / 10 review on TrustPilot
- A range of flexible and fixed rate tariffs, among the cheapest in the market
- Transparent and easy to understand bills
- Energy Switch Guarantee - ease of switching suppliers
Who is Octopus Energy?
When it comes to paving the way towards a greener future, Octopus Energy are leading the pack. This relatively young company was established in 2015 as a subsidiary of the Octopus Group, a UK-based asset management company. Since then, it has grown at an incredible pace, supplying energy to over 1.4 million homes across the UK, and acquiring six other energy firms to broaden its operations.
What do their gas and electricity packages provide?
Octopus Energy is committed to providing energy at “fair and transparent” prices, with great value for the long term.
Not only are their tariffs among the most reasonably priced across the UK, but all their energy comes from 100% renewable resources, making this one of the greenest energy suppliers around. What’s more – none of their tariffs carry an exit fee, and they are also backed by the Energy Switch Guarantee, which means less hassle when switching over to one of their tariffs.
Octopus Energy provides a range of tariffs, both fixed and variable, depending on location. Two of their most popular tariffs are described below.
Octopus Go tariff
Do you drive an electric car? Then this is definitely a tariff to consider. The Octopus Go Tariff offers four hours of 5p/kWh electricity every night from 12.30 – 4.30 am, making it more affordable for you to charge your car overnight. As per their website, this tariff allows you to keep your fuel costs at around 1p per mile – a bargain!
Octopus Agile tariff
A variable tariff that includes a smart feature known as Plunge Pricing, the Octopus Agile tariff keeps a track of wholesale energy prices, letting users take advantage of negative price events and updating daily energy rates accordingly. It also includes a price cap feature which ensures that users never pay more than 35p/kWh for energy.
Apart from the two plans described above, Octopus Energy also provides other fixed, variable, and green tariffs suitable for a variety of needs.
What are Octopus energy's customer reviews like?
Octopus Energy enjoys a fantastic reputation among its customers. It’s been recognised as a Recommended Provider by Which? for three years running and has one of the highest scores on Trustpilot (4.8 out of 10, from 34,828 reviews).
They are known in particular for their transparency and complaint resolution; reviews have mentioned easy-to-understand bills, helpful and courteous customer service, and simple account management.
In fact, Which? reported that Octopus Energy received just 2 complaints per 1,000 customers in the first half of 2019, around half of which were resolved within the next working day.
Energy Mix
Octopus Energy uses a fuel mix that consists of: