ARE OCTOPUS ENERGY ANY GOOD? YES AND THIS IS WHY!

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OCTOPUS ENERGY CASH BACK

ARE OCTOPUS ENERGY ANY GOOD?

Yes, yes, yes, yes and yes!

octopus energy cashbackApart from being the Which? highest ranking energy supplier for 2020, providing 100% green energy and embracing technology Octopus energy do not treat customers like fools.  Octopus energy encourages those who love tech too reimagine and engage with  them in order to make their energy supply even greener.  They provide support online via social media links (which I love) and keep customers fully informed of developments within their company. As if that’s not enough they are also, in my opinion, a highly ethical company and an inspiration for a greener future!

We are in a global pandemic and how companies treat their staff speaks volumes! I have seen both the good and bad over the last few weeks and was delighted to read Octopus Energy’s latest blog on their Covid-19 challenges.

WHAT HAVE OCTOPUS ENERGY DONE DURING COVID-19 PANDEMIC?

 

FOR THEIR STAFF

Since Monday 23rd March, the Octopus office-based team has moved entirely to working from home.

Octopus has established OctoKids and OctoTV to help parents balance work with looking after their kids. Some teams have set up buddy systems, making sure no one working from home ever feels isolated or lonely.

Octopus Energy maintain full pay for everyone we employ directly. Where people can’t work, we may use the government’s furlough scheme and top salaries up to 100%.

Octopus gives employees access to company resources (like vans and computers) so they can assist in NHS and other volunteering programmes.

For engineers who need to go to peoples homes Octopus Energy are providing special training and equipment in the wake of Coronavirus as well. They are expect to upgrade from protective coveralls and face masks to full Hazmat suits as of March 30th where they’re necessary.

 

FOR OCTOPUS ENERGY CUSTOMERS

Octopus Energy phone answer times, and email response times have been fairly good. Overall service levels have been about the same as pre Covid-19 and are expected to keep improving!

Now this is where it becomes interesting. I was trying to summaries Greg Jackson, the CEO of Octopus Energy’s comments about how he is trying to help customers but I just can’t. I am usually good at skipping through peoples waffle and finding the hidden meaning BUT there isn’t one!! It is an open and honest response just as I have come to expect from their CEO.

Well done on being so upfront and for doing so much! I wouldn’t expect anything less!!! It’s very odd how as a family we feel we know you Mr Jackson!! I couldn’t say that about any other provider for any home service we’ve been with. Stay safe!! This is the reason I stick with you! Stay safe!! 

THIS SECTION IS A DIRECT QUOTE FROM THE BLOG OF CEO GREG JACKON – 30TH MACRH 2020.

How working from home impacts customer bills

Our data scientists have done some initial analysis using smart meter data and found that a typical household moving from working out of home to working at home will use around £3-£5 per week more energy at the level of the government’s energy price cap (read the analysis in full here). There’s two things to note about that – an Octopus customer pays less than the price cap, and we also expect this £3-5 weekly figure to come down with reduction in gas usage as we start to hit warmer months.

I am conscious that for everything I write, there will be exceptions – and some very serious ones – but for most households, this extra energy consumption is not likely to be the big driver of hardship. Indeed, for households with the same income as before, the increased energy cost of £3-£5 per week is a lot less than the typical cost of commuting (about £66/month). Of course, in a household where one person has lost their job, and another is working from home, they’ll see drop in income and higher energy costs – and similarly for people with commission and other variable earnings. We recognise those differences. Similarly, we also know that for many households lockdown has led to lower outgoings. Everyone’s circumstances are different, but on the whole, drops in income are more instrumental in making it difficult to pay energy bills than the fact that people are using more energy at home.

octopus energySo, what are we doing to help when people have had big drops in income as a result of Covid-19?

First – we signed up to a government charter which outlines the support energy companies are voluntarily giving to customers.

This has been covered by the media “energy companies to waive bills” or similar, but when you read the charter it’s much more nuanced. For example, here’s the section on helping people whose finances have been impacted:

‘Based on individual circumstances, this could include:

– Considering reassessing, reducing or pausing debt repayment and bill payments for domestic customers in financial distress.

– Considering referring customers who are struggling to pay to third party debt advisers such as StepChange and Citizens Advice.’

This fairly low level commitment is the current reality not just for Octopus customers, but we believe for customers of other companies as well.

We’d love to do more – and our team and I have been working night and day with other energy companies, EnergyUK (our trade association), Ofgem and Government departments (BEIS, Treasury) to try to find a solution for people who need it.

I’ve been asked why Octopus aren’t, for example, just giving all customers a blanket payment holiday – or even writing off bills. I heard someone on the radio saying “these energy companies make so much money, why can’t they help?”

I’d like to show respect to customers and all readers by responding to this candidly – even when it could mean my words are misrepresented – but I’d rather be open and clear than opaque and evasive.

Energy companies – at least most – don’t make shedloads of money. Octopus lost £29m last year. Our rivals, Bulb, lost £129m. And here’s Centrica’s share price over the last 5 years:

Of course – there’s a reason for all these. In our case, and perhaps Bulb’s, we’ve been investing in growth – payments to comparison sites, for example, are not cheap. In the case of the incumbents, their inefficiency has made it hard to handle price competition from companies like ours.

But underlying it is a fact of the modern energy market: margins are wafer thin. The CMA (government authority) reckons energy companies should make 1.25% margin. We’re very efficient and target 3% – and expected to hit something like that next year. This year was roughly breakeven at what’s called the EBITDA level. I can’t speak for other companies – but this is the way energy should be – super low margins meaning that customers get better value. That’s exactly what we’ve been fighting for since we were founded – better value for customers.

So as a typical example from the numbers above – If a company makes a 3% margin, then for every customer spending £1000 (roughly the average annual energy bill), it makes £30 profit. If a single customer doesn’t pay, it loses £1000. So a single customer not paying wipes out the earnings from 33 othersSo if just 1 in 33 customers doesn’t pay, the company goes from profit to loss. On the CMA’s 1.25% figure, it’s worse – 1 customer not paying wipes out the earnings from 80 other customers.

At Octopus, we take a long term view of everything – it’s why we’ve invested in the systems and people to make energy cheaper and greener, rather than focusing on short term profit.

So we are hugely aware that a time like now is a time to focus on doing the right thing – and I’m very happy to take a financial hit throughout this period to help customers affected by Covid-19.

But from the numbers above, you can see that we can’t take a massive hit. Helping 3% of customers is enough to send a company like ours into losses – and the numbers in energy are huge.

Our estimates are that 10-20% of UK households could see significant drops in income from Covid-19, so let’s take the middle of that – 15%. If we help 15% of customers by waiving their bills, the first 3% wipe out any profit. The next 12% are pure losses. Using Octopus as an example – we have 1.5m customers – so our revenue is about £120m a month. 12% of this is £14m.

So Octopus would be losing £14m a month. If the Covid-19 crisis lasts 3 months, it’d be £42m; 6 months, £84m. That just wouldn’t be sustainable. And of course, the economic impact could hit payments for longer than the immediate health crisis.

And that leaves us in the difficult position that we cannot help everyone we would ideally like to.

Instead, we’ll be working hard to ensure that customers who can afford to pay keep doing so, and that we do everything we can to help those who’ve been affected on a case by case basis – but we’ll need to be selective and that’s hard. Really hard.

Which is why we’re working tirelessly with other energy companies and the government to see if there could be a uniform approach across all companies to provide standardised levels of help – and mean that it’s not down to the lucky dip of which energy company you’re with, but your circumstances, which define the outcome.

And it’s why we ask people to be understanding – we’re working hard to ensure we push our own finances to the max to help everyone with service, and those who need it most financially. And we know that our customers will do the same.

With everyone doing their bit, we can all emerge from this crisis together. We’re just at the beginning and we’ll push in every way we can to try to make things work for everyone.

TIME TO RETHINK HOW WE USE ENERGY!

Switching to renewable energy will have the biggest impact on your carbon footprint.  Recycling and using public transport, as an example,  will also help but by far switching to renewable energy will have the greatest impact. If you are not using green energy please switch today!! It is something you can do in 2 minutes online. We need to act and we have to act now! We can make a difference to our planet. I have created this website to help give my view on Octopus Energy. I hope it will reassure you that switching is the way to go!! We all have to do our bit and whilst in isolation, this is a part of mine.

I hope everyone reading this stays safe. I salute the emergency services. Stay well and share the power of love and kindness by making a difference. Step up and do what you can. I’ll see you at the party hopeful on the other side. We will get through this!

SAVE MONEY WITH OCTOPUS ENERGY

octopus eNERGY

 

OCTOPUS ENERGY TARIFFS 2020

octopus energy green tariffs

OCTOPUS ENERGY TARIFF 2020

OCTOPUS ENERGY TARIFFS

When it comes to Octopus Energy tariffs they are worlds apart from BIG 6 energy providers.   It really is quite freshening even if you haven’t yet considered beyond saving money on your energy bill. By going green with Octopus Energy tariffs not only can you save money and reduce your carbon footprint but you can take control of how you consume energy.  It really is the way forward for a sustainable future.

MY SWITCH TO OCTOPUS ENERGY

Before my switch to Octopus Energy, I had been with British Gas for many years.  I paid little attention to my energy bill. It was a utility that I had to pay and periodically I would look around for a better deal. Although they all seemed the same and very confusing.  Due to a house move, I decided I had to make a big effort to reduce my bills and more importantly go green. Switching to renewable energy was something I felt I really needed to do.

Solar panels were not an option and I needed to keep costs down.  Bulb was recommended to me along with Octopus Energy. I reviewed both and the one thing that caught my eye was the tariffs. Bulb offered just one while Octopus had a variety which seemed all too simple to understand. Octopus Energy had great reviews on Trustpilot and I was hooked by the simplicity of their green energy message. So I switched.

FIRST THINGS FIRST

One of the first thing that happened was that I got an email from their CEO Greg Jackson welcoming me to Octopus Energy. I know it was an automated response to my switch to Octopus but I appreciated the tone and friendless of the email. He promised great customer service, fair prices and advice on energy saving.  A few months into my contract I needed some technical advice which I couldn’t find online. Sure enough, he responded and helped me out! To say I was impressed was an understatement.

I opted for the Octopus Energy fixed tariff, Super Green. It promised 100% renewable energy with my gas being offset and I have been delighted. (Octopus Energy does not include meat food or farm waste in their AD process, unlike some other suppliers.)

Each time I receive my bill via email I also get an update if there is a cheaper tariff I could be on. Even if you opt for a 12-month fixed tariff you can still switch to this cheaper deal. You just email back and they do it for you! I have done this a couple of times!

OCTOPUS ENERGY FIXED RATE TARIFF V FLEXIBLE TARIFF EXPLAINED. (simply)

OCTOPUS ENERGY RETHINKING HOW WE USE ENERGY

Should i switch to octopus energyIt is approaching two years since we switched to Octopus Energy and CEO Greg Jackson’s promise to provide advice on energy savings has been surpassed. I am now as you can see quite hooked on renewable energy!  I have a young family and we only have one shot at protecting our planet.  Switching to renewable energy is the way forward. It has the biggest impact on an individuals carbon footprint and takes just minutes to do. More importantly, it is accessible to the vast majority of people.

Nearly two years on and I am looking at half-hourly energy prices. I am engaging with my supplier like many new Octopus Energy customers. The tariffs they are offering in 2020 are groundbreaking. That’s not merely my opinion it is a fact!  As well as offering fixed or flexible tariffs in 2020 Octopus Energy offers some really clever techie options too.  This is where they really start to differ from other energy companies.

OCTOPUS ENERGY AGILE TARIFF

The Agile tariffOCTOPUS ENERGY AGILE PRICE allows you to use energy when consumption is low bringing down prices to a minimum, sometimes even free. Shift your energy use outside the 4-7 pm peak to save money and use cleaner, greener energy when there is less demand on the grid. Plus “plunge” pricing when wholesale prices go negative could even pay you to use energy.

This tariff also lets you take advantage of all your smart devices like Amazon Alexa so you can choose to use home appliances such as your washing machine and dishwasher when energy is cheapest. More importantly, you can use energy when there is less demand on the grid or there is an excess of energy making if far greener.

OCTOPUS GO TARIFF

octopus energy electric vehicle tariffI’m not lucky enough yet to have an electric vehicle but if you do this is a great option if you do.  I understand we all need to shift from diesel guzzling vehicles but we also need to be able to charge them the greenest way possible. Octopus Go is an electricity tariff with a bonkers cheap 5p / kWh rate for four hours every night (between 12.30 and 4.30 am). It was designed with EV-angelists in mind as charging can be done very cheaply whilst your asleep. This can help keep fuel costs around 1p per mile.

OCTOPUS EXPORT

Octopus energy export tariffIn March 2019 for some reason, the government pulled the plug on feed tariff designed for solar panel owners.  Octopus Energy has introduced a tariff to export excess energy generated from their solar panels to the national grid.

Greg Jackson, CEO of Octopus Energy said: “Outgoing Octopus is designed to make it easy for households to choose to go green – by paying households to adopt solar, we bring locally generated energy to more people and help the UK adopt a cleaner, cheaper energy system.

“At Octopus, we strongly believe in using smart technology to make energy work for our customers and we’re delighted to be the first movers into a promising new market.”

A BRIGHTER 2020

If you are on the fence about switching to renewable energy as it all sounds too complicated, it’s not. We all consume energy. It is a utility we would struggle to live without but in order to make our world more sustainable we need to look to energy companies like Octopus Energy to lead the way. They are not afraid to reevaluate the energy market and believe that consumers want to make a difference too.  octopus energy green tariffsThat is the whole ethos of Octopus I believe. They don’t seek passive customers they are happy to take on demanding customers who want them to rethink the whole way we can save money and the environment.  I am just waiting on a loan of a thermal imaging camera to find where the heat is escaping from my house.  Yes, Octopus will loan you one of those too!!

In the past, the business of energy companies has been to make sure customers are not engaged. Energy companies have made most of their money out of unengaged customers. It’s the job of disrupters to come in and drive that engagement. – Greg Jackson, CEO.

My advice would be to make the switch to renewable energy. You can switch, make a massive difference to your carbon footprint and forget about it for another year or you can get involved using tech at home to become even greener. Just go for it and go green!

Posted by Sarah at www.octopusreferral.link

#octopusenergytariff

 

 

 

 

 

 

CAN YOU SAVE MONEY BY SWITCHING TO RENEWABLE ENERGY?

GO GREEN RENEWABLE ENERGY

SWITCH TO RENEWABLE ENERGY UK

Can you save money by switching to renewable energy?

Sometimes the thought of switching to renewable energy can sound costly.  I was one of those people. I dreamt  of solar panels. The thought of creating my own energy was and still is so appealing but with a growing family and limited budget it is out of my reach. Times have thankfully changed  I can’t create my own renewable energy but I can certainly use it and within budget too!

In early 2018 we switched to a green energy supplier, Octopus Energy. We have saved money by switching from British Gas and now use 100% renewable energy. In this post I will explain how.

Green energy can be low cost energy.

After doing lots of research, (I google rather too much) reading reviews, comparing tariffs and looking at social media posts we decided that Octopus Energy was the way to go! Octopus Energy were not the cheapest supplier (for both gas and electricity) but they provide low cost, 100% renewable energy and their social media and reviews are outstanding. It’s transparent and we really like their ethics  Even the CEO seems to get involved directly if you tweet them.

By switching we were able to reduce our energy bill by £268 and we got £50 credit on our first bill.

To get £50 credit with Octopus Energy I would be delighted if you used our referral link.

Log Burner

octopus energy using renewable energy
Not the most attractive but living the dream ;-0

We invested in a log burner this year and it was a great decision. It creates a really homely atmosphere  and when the children are in bed I can really relax by the fire and unwind. We were lucky and had the log burner for free and only had pay for installation.  We source lots of free wood from friends and also from freecyle. Someone always seems to be trimming branches and even though it does take some effort collecting free wood is really satisfying.

LED Light bulbs

Another great way we have saved money is by switching all our home lighting to LED. It is quite an investment as the LED bulbs are slightly more expensive but they significantly reduce our energy bill and just as importantly reduce our carbon footprint.  They cost less than a tenth to run than a standard equivalent light bulb.

We have the Philips Hue LED lightbulbs in most of the lamps at home. They are more expensive but we have them on timer and the children are told not to touch them.  Sounds crazy but I am sure we have made back the cost of the bulbs already. The children previously left lights on day and night regardless if they were needed. It also saves my sanity a little :-0

So my dream of living on a small holding happily creating our own energy whilst replicating scenes from The Sound of Music is a little way off but we have realised over the last year that it is possible to use green energy in our home without breaking the bank.

Posted by Sarah at www.octopusreferral.link

OCTOPUS ENERGY REFERRAL LINK

 

 

DO YOU ASK FOR PERSONAL RECOMMENDATIONS?

octopus energy cashback

OCTOPUS ENERGY RECOMMENDED

If you have your feet up and you want a quick and easy energy switch, you’re not alone! Twice this week I have responded to a friend facebook status “Which energy supplier do you recommend?”  and almost instantly I have had a thank you message and a ping that they have switched to Octopus Energy.

READY, STEADY, SWITCH!

I must admit I was slightly shocked at the speed that both friends switched.  It was almost instantaneous like they just clicked the link and went for it in a second. I took hours researching tariffs and customer reviews because I have to be 100% sure of most things. OCTOPUS ENERGY CASHBACKIt’s become a running joke that I am super organised!  I turned up on a camping trip last week with a boot full of kit.  My friends had two Tesco carrier bags. I plan for every eventuality and google everything!

FOLLOW YOUR INSTINCTS

I think maybe sometimes you just know it’s time for a change. You know you’re not getting the best deal but life is just super busy and all vast amount of information is mind-boggling.  Sometimes too a personal recommendation is just worth more than hours of comparisons.  I am happy to be that friend who saves you hours of work!

BIG GREEN LIGHT

If your thinking of switching energy suppliers and would rather enjoy your free time please feel free to take my word that Octopus Energy is the way to go. I have been with Octopus Energy for almost a year and am delighted.  I have saved money and the service I have received is great.  Bulb was up there as a contender. However, they offer only one tariff, no fixed rate and no techie tariffs for tracking rates. (I will stop now as I know you may just want the green light 🙂

Switch now and get £50 credit on your bill. (This is added after the first direct debit)

SHARE YOUR OWN REVIEW AND GET £50 CREDIT

Don’t forget once you have switched you can share your experience on social media.  Include your own referral link and you could be on your way to earning extra credit on your energy bill!  You will get £50 for every friend who switches to Octopus Energy.

Posted by Sarah at www.octopusreferral.link