COMPARE OCTOPUS ENERGY TARIFF
Octopus Energy tariffs help customers to switch to renewable energy with simple and creative Octopus tariffs that help make the future look brighter. We need forward thinkers like Octopus Energy. As well as ‘traditional’ Octopus tariffs, such as the Flexible Tariff (Energy Price Guarantee), which is fixed until April 2023, Octopus offers customers Octopus smart tariffs that are groundbreaking in the energy market. For our energy market to change we need companies like Octopus Energy to fight for change. They champion their customers and look for ways to save them money while also helping the planet.👏
Octopus Energy smart tariffs and Economy 7 tariffs can work out cheaper than the Energy Price Guarantee. They just require a little hustling with your energy use.
There are lots of reasons why you may want to switch energy suppliers. However, trying to find the cheapest energy deal is getting a lot more complicated! The Octopus Flexible tariff, as an example, is a variable tariff but from the 1st of October, 2022 acts more like a discounted 6-month deal. The flexible tariff will now receive a discount under the Energy Price Guarantee which limits the most you will pay per kWh until April 2023 when it will be reviewed.
Is the Octopus flexible tariff the cheapest Octopus tariff? In lots of circumstances, it is BUT if you can “load shift” some of your energy use to off-peak times you can bring the average price you pay per kWh down below the energy price guarantee. I will explain how this can be done.
Octopus Energy tariffs are available to new and existing customers.
- Flexible Octopus / Flexible with Eco 7.
- Octopus Go – EV Owners
- Intelligent Octopus – EV Owners
- Octopus Agile
- Octopus Tracker.
My personal preference has always been a fixed energy deal but these are now long gone. However, the Octopus flexible tariff is basically a 6 months fixed deal subsidised by the Energy Price Guarantee. (If was going to be 2 years but they change their mind in the new budget). You can vary the flexible tariff to include off-peak rates at night, called Economy 7. You will pay more than the EPG for the daytime rate BUT you can hustle by shifting a proportion of your energy to off-peak use, such as washing machines and dishwashers.
As the night-time rate has been reduced to around 15p per kWh on Octopus Flexible Economy 7 tariff this could be a good tariff for customers who have battery storage but no electric vehicle. It is also a great price if you want to pay less overnight to do your laundry and load shift as much as you can.
These are currently the only 5 Octopus tariffs available to both new and existing domestic customers who want to switch tariffs or find a new energy deal. (Flexible is obviously available without the Economy 7 and has a cheaper day rate and standing charge)
Octopus Energy Quotes
These Octopus quotes are from the 6th of December 2022. They may vary depending on your region. They show quotes for the 3 Octopus tariffs currently available.
Below I have shown the Flexible Octopus option with the Economy 7 option. Without it, the price would be on average 34p per kWh for electricity and 10.3p per kWh for gas. (chart further down the page)
All traditional and smart tariffs are available to new customers. Yes, you can switch to Octopus Energy you just have to give them a call.
Quick Money-Saving Tip
On the Octopus Flexible tariff, you will pay on average 34p per kWh for electricity and 10.3p per kWh for gas but if you switch to Economy 7 or a smart EV tariff you could still beat the energy price guarantee by load shifting. (Based on your average use) 👏
If you can load shift just 30% of your energy to off-peak on Economy 7 your average price per kWh would match the Energy Price Guarantee. (There or thereabouts 😀) If you can load shift more you will be beating the energy price guarantee with a cheaper rate per kWh!
Octopus Flexible tariff with Economy 7.
If you choose to vary the Octopus flexible tariff to include a cheaper night-time rate, this is called Economy 7, then you will be paying more during the day than the EPG but your night-time rate will be much lower.
Here’s a breakdown of prices on the Octopus Flexible tariff by region, if you pay by direct debit. It includes the Energy Price Guarantee discount. You can click here to download the prices.
If you pay by another method you can find the detail here.
Points to remember when considering an Octopus time of use tariff.
If you are a new Octopus customer you will need to go on a traditional interim tariff to make sure your smart meter is sending readings first. This will be the Octopus flexible tariff.
For Octopus time-of-use tariffs for electricity consider;
- Octopus Flexible Tariff (Economy 7 for electricity)
- Octopus Go tariff, (EV drivers)
- Intelligent Octopus (EV drivers)
- Octopus Agile. (Electricity)
- Octopus Outgoing tariffs (Home solar/wind)
If the Octopus Tracker tariff came back online with a cap of 30p per kWh for gas and 100p per kWh for electricity on the 28th of November 2022.
You WILL need a smart tariff for these Octopus time-of-use tariffs.
I use on average 63% of my energy off-peak. (I have 3 kids and an EV). By shifting my energy use I bring my peak rate of 40p per kWh down to around 18p per kWh! This is below the October 2022 Energy Price Guarantee! 💃
@sarah_go_green I will share my @Octopus Energy bill for September 2022. I am on the #intelligenttariff which is one of the Octopus #smarttariffs design for an #ev ♬ original sound – sarah_go_green
Get a quote and switch online.
Octopus removed the option to provide online quotes on the 28th of February. This was due to the volatility in the energy market. Just call Octopus to obtain a quote – 0808 1693274.
You can still check up-to-date tariff information. If you want to take a look just scroll down through the list of current tariffs. Here is the link.
Don’t click on “Request a quote” just enter your postcode and a list of current tariffs will be displayed below. All the comparison sites are unable to provide any quotes either BUT you can find the current tariffs on the Octopus Energy website.
For smart tariff click on the filter option. It’s a drop-down box. Select domestic, you can also filter for smart tariffs. I update this page daily so you will be able to see the current rates.
All customers on the Octopus Flexible tariff receive a 4% discount on their standing charge from the 1st of October.
The Energy Price Guarantee from 1st October is on average 10.3p per kWh for gas and 34p per kWh for electricity. It changes slightly depending on where you live in the country.
The Energy Price Guarantee.
On the 8th of September, the UK government stepped in to offer the Energy Price Guarantee. The energy price cap was set to rise by 132% over the winter of 2022 but the government replaced it with the Energy Price Guarantee. (EPG) This simply means the government will subsidise energy bills by paying your energy supplier the difference between the Energy Price Cap and the Energy Price Guarantee. (We will pay it back over the next decade in taxes)
The Energy Price Guarantee on a traditional variable tariff was a 2 years fixed discount but on the 17th of October, less than 3 weeks after it was launched, the Chancellor accounted that it would be reviewed in April 2023 so it is only a 6-month fixed tariff. It seems as though the discount, in the future, will target the most vulnerable rather than being available to everyone but who knows how it will play out!
Do you still get an EPG discount if you switch tariffs after 1st October?
Now it gets slightly complicated as the Energy Price Guarantee applies a discount to a variety of Octopus tariffs IF they were taken out prior to the 1st of October 2022.
The complicated bit comes when customers decided to renew or switch tariffs AFTER the 1st of October 2022. For this reason, on the 10th of October Octopus suspended many of its smart tariffs so they could be reviewed. They have now all come back online except Octopus Go Faster which has been dropped.
Octopus Agile also came back online on the 28th of November (Agile November v1) with a new cap of £1 per kWh. The Energy Price Guarantee discount is also applied to this tariff.
As background when Octopus Agile up until October was a 12-month fixed tariff but is now a flexible tariff. This means that the maximum rates could change at any time.
Is it worth switching to Octopus Energy?
It’s not the best time to switch energy suppliers but if you could save money on an Octopus smart tariff or an Octopus Economy 7 tariff now might be the to do it!
Remember auto-switching sites only compare the cheapest deals on offer not the stability of the company. They also can’t predict how willing you are to change your behaviour to save money on your energy bill! If you are able to think a little outside the box you can still save money with Octopus Energy! They have some very clever smart tariffs available and they have reduced the price per kWh off-peak on their Economy 7 tariff.
How you can reduce the amount you pay per kWh by using energy off-peak.
Here is how I load-shift some of my energy use. My peak rate is 40p per kWh and my off-peak is 7.5p per kWh. The average price I pay per kWh is around 18p!
This is an EV tariff but from the 1st of October Octopus has made the Economy 7 rates much cheaper! Yes, the day rate goes up but if you are prepared to try load shifting it might be worth a go! It could work out better for both the planet and your pocket!
@sarah_go_green If you have an off-peak smart tariff with Octopus Energy you can charge your EV cheaply BUT you can also use energy in the rest of the home at the same rate of 7.5p a kWh. So delay functions and smart timers are great. #EV #EVcharging #moneysavingtips #energytariff #octopus🐙 #savemoneytips #utilitybills #electric #costoflivingcrisis @Octopus Energy ♬ original sound – sarah_go_green
Yes, I think so. At the moment the energy price guarantee is the cheapest traditional energy deal so it’s hard to compare but Octopus has gone a step further and has added a discount of 4% on their standing charge for customers on the Octopus Flexible tariff. (EPG cap). The Economy 7 standing charge is slightly higher. Plus the smart tariffs give you the option to try and hustle some cheap energy using time of use!
As an Octopus Energy customer, I am very impressed with how they have conducted themselves during the energy crisis. Their communication has been excellent and Greg Jackson, Octopus CEO, has been very vocal in asking the government for an energy price freeze. Stressing the need for additional support for customers.
On the 17th of September Octopus announced a £40 million package to help its most vulnerable customers. For those homes who are not so well off or on a pre-payment meter, this will be a great help I am sure!
High standing charges are a pernicious feature of the regulated energy market, especially for many of the worst-off households. Octopus will waive standing charges for upto 100,000 hard-up customers for 1, 3 or 6 months this Winter.https://t.co/CmzRcpBHN5
— Greg Jackson (@g__j) September 17, 2022
The good news is Octopus Energy is a fantastic energy company that is continuing to grow and is here to stay. 🎉
Before the start of this energy crisis, I believe around 50,000 new customers a month were making the switch to Octopus Energy. The old “Big 6” energy suppliers have dominated the market for so long that it is quite refreshing to see a fairly new energy company like Octopus hot on its heels. We need energy companies like Octopus to help us find creative ways to make the UK less reliant on importing energy from abroad. Octopus, in my opinion, is streets ahead of any other UK energy firm. They really want to make a difference and put customers and the planet at the forefront of everything they do!
Why is Octopus Energy in such a good position compared to some other suppliers? Octopus Energy explains why in this enlightening post!
Is now the right time to switch to a new Octopus Energy tariff?
Everyone’s circumstances are different so just take your time to make sure you make the right decision for yourself. The main theme for everyone is simply reducing your energy consumption! That’s the only real way to save money regardless of the tariff you choose.
Can I switch Octopus tariffs if I find a better deal?
Yes, you can swap Octopus Energy tariffs with no penalties even on the Octopus smart tariffs or Economy 7 rate. Octopus will tell you on your bill if a cheaper Octopus tariff becomes available. You email back and they will swap you over. It’s effortless!! I’ve done it a couple of times and it takes the hassle out of looking for a cheaper tariff with Octopus Energy. 🙋♀️💃 👏
If you are on an Octopus smart you have to wait for 30 days before switching to another smart tariff. You can, however, move from a smart tariff to the Octopus flexible tariff at any time.
I have switched energy tariffs several times with Octopus and it is really easy to do, you simply email [email protected]
How long does it take to switch to a new energy tariff with Octopus Energy?
How does it work? Octopus can supply both electricity and gas. The switch is usually completed within 17 days and Octopus takes care of everything. (You will get £50 credited to your bill after you have paid the first direct debit using my link or quoting my referral details)
There’s no need to contact your current supplier Octopus will do that for you. You simply pick your Octopus Energy tariff, supply your meter readings and cancel your direct debit after your final bill has been settled. There are no exit fees if at any point you decide to switch to another provider.
Are energy prices still going up?
There was a drop in wholesale energy prices at the start of April but since then they have continued to go up at an alarming rate. In June 2022 wholesale energy prices shot up quite dramatically. Over the last few weeks, wholesale gas prices have reduced but these are a day ahead prices and as the weather is getting colder prices are rising. For energy prices to go down overall the year-ahead price has to be lower. A supplier buys our energy in advance.
Here are the prices on the Octopus tracker tariff. The tracker tariff follows day-ahead prices rather than year-ahead prices. (You can read more about the Octopus tracker tariff at the bottom of this page) At the moment on this tariff, you could pay less for your gas per kWh but for how much longer that will remain I don’t know! As the colder weather creeps in and combined with, for example, a lack of wind, prices could rise quite dramatically. The same applies to the Octopus agile tariff.
|Octopus Gas Tracker Tariff is NOW AUGUST V1.||Price per kWh.
MAX PRICE 22P PER KWH.
Here’s a graph showing the wholesale energy prices in the UK. The blue line is gas and green electricity. As you can see in February 2022 when Russia invaded Ukraine wholesale prices increased. Vladimir Putin is restricting gas supplies to Europe, and so wholesale prices worldwide are increasing.
In April wholesale prices started to drop BUT as EU countries started to bid for limited supplies of gas they skyrocketed in June 2022. Countries will need to secure gas for supplies for the winter so I can’t see these prices dropping any time soon. In fact, there is only one way they seem to be heading and that’s up. So energy prices will remain high for domestic energy tariffs.
Will energy prices fall in 2023?
Russia is still restricting gas supplies and so prices remain high as EU countries bid for the limited supply of gas. The mild weather is helping to bring down prices.
From the graph above you can see how much wholesale prices need to come down to be back to pre-crisis levels. Energy prices are currently extremely volatile. However, they are coming down as you can see. The problem is they went up so much there is still a long way to go and the market is volatile.
Is Octopus Energy cheaper than British Gas?
I was a British Gas customer for years and will never go back. British Gas loves to confuse you with their tariffs and lock you in at any opportunity. We need clear transparent prices that don’t lock you in. You stay because you want to with Octopus Energy. That’s the way it should be with all companies! 🐙
Octopus offers clear pricing to allow customers to make informed decisions, that’s what we all need! No hocus pocus!
- British Gas seems to LOVE exit fees.
- The British Gas website is frustrating to navigate.
- I found my British Gas bills confusing to read.
Even before you switch to British Gas getting a quote from British Gas is quite frustrating! They increase their overall tariff price by a few pence each day but the calculations and rates remain the same. How does how happen?!! I check their prices every morning so it’s easy to spot this. 🤷♀️
British Gas is one of the oldest energy companies in the UK and has over 5.3 million domestic electricity customers and 6.4 million domestic gas customers. Whilst Octopus Energy is only 5 years old and already has just over 3 million customers. There’s a reason why they are hot on British Gas’ tail!! Customers love the great service and value they provide!! I also love their work passion towards achieving NetZero.! 🌍👀💗)
Claim £50 credit switching to Octopus Energy.
Once you have chosen to switch to Octopus Energy as a new customer, you’ll be given £50 credit on your first bill and your own personal referral code to share with friends and family. For every person that switches with your code, you both get £50 credited towards your next bill. (I would be delighted if you use mine to get you started, thank you!) Use my Octopus Energy Referral link .🥳⟵ or let Octopus Energy know you have been referred by Sarah-C when switching over the phone.
When you land on the Octopus Energy website using my link you will see the £50 credit offer at the top of the screen. This just confirms it’s been recorded and will be credited once your first direct debit is paid.
Octopus Energy Variable tariffs. The Flexible Octopus tariff explained. (simply)
The Octopus flexible tariff is the Octopus default tariff which is known as a standard variable tariff. The Octopus Flexible tariff rises and falls with wholesale energy prices BUT won’t go any higher than the energy price guarantee.
My experience choosing the right Octopus Energy.🤷♀️
Shocked to read my energy bill.👀
Moving forward each month Octopus Energy tells me when I could pay less. Each time I receive my bill via email I also get an update if there is a cheaper Octopus Energy tariff I could be on. They highlight how much I could save on each new Octopus tariff. You just email back and they do it for you! I have done this a couple of times! I have never had a company tell me I could pay them less before AND there is no catch. No exit fees!! This is a complete winning formula for me! There is no need to keep checking if there are cheaper Octopus Energy tariffs available. They just tell you!
What are Octopus Energy smart tariffs?
Octopus Energy offers a range of different Octopus smart tariffs. The innovative tariffs help customers really take control of their energy consumption and save money. This is where the tech base of Octopus makes it stand out from the crowd. The Octopus Energy smart tariffs are quite revolutionary but for most, you will need a smart meter installed. All Octopus Energy tariffs for households can be taken out as dual fuel or electricity-only plans, but gas-only tariffs are not available.
(Smart meter required)
Shift your energy use outside the 4-7 pm peak to save money.
The Octopus Energy Agile tariff 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!
The Agile tariff lets customers 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 it far greener.
Octopus Agile November version 1.
The Agile tariff changes quite frequently. The version currently available is Octopus Agile November version 1. It is capped at £1 per kWh.
The Agile tariff receives a discount as part of the Energy Price Guarantee. It is all explained in this Octopus blog post.
Is the Octopus Energy Agile tariff right for you?
No one can tell you if the Octopus Agile tariff is right for you. Every home has different energy usage patterns. Some households may find it tricky to shift energy usage away from peak times. You may simply have to prepare meals during these times. However, you may have a variety of appliances that you could use when there is less demand on the national grid to reduce your average price per kWh.
The most you will be charged is up to £1 per kWh with a discount of up to 17.9p per kWh being applied above roughly 34p per kWh. This is because Octopus Agile is protected by the government’s Energy Price Guarantee. You really have to watch prices closely to know if it’s a good time to be on this tariff. If things get too sticky you can switch back to the Octopus flexible tariff at any time.
You can see Octopus Agile historical prices in my full Octopus Agile review.
You can read further about the benefit of off-peak energy on the Ofgem website.
Octopus Energy electric vehicle tariff – Octopus Go
Perfect for charging an electric vehicle at night.
(Proof of EV ownership is required along with a smart meter)
Octopus Go is an electricity tariff with a cheap 12p / kWh rate for four hours every night (between 12.30 and 4.30 am). It was designed with EV drivers in mind as charging can be done very cheaply whilst you are asleep. This can help keep fuel costs around 3p per mile.
Before opting for the Octopus GO tariff I would suggest you weigh up if you could save even more money by getting creative with the Agile tariff. This takes a little more creativity and organisation in the home but you could save money on your car charing as well as home appliances. You can always switch tariffs eg Agile in the spring, summer, and Autumn, and then Go in the winter when there is very little solar activity. It is really easy to switch between tariffs. It just depends on how much time you want to spend thinking about it to save money.
I have recently switched to the Intelligent Octopus tariff as it offers a longer discounted period BUT it’s new and there are specific requirements for switching.
Octopus Go Faster is no longer available.
If you own a compatible EV (there’s a list) OR you have an Ohme charger take a look at the Intelligent Octopus tariff. The tariff offers a minimum of 6 hours of off-peak charging at 12p per kWh! 🌍💚
Octopus Energy tracker tariff.
Octopus tracker tariff sign-ups were paused on 22nd October 2022. The NEW November version 1 is now online and you can switch to this tariff.
If you don’t have a smart meter but would like to try a smart tariff you can still sign up for the Octopus tracker tariff.
On the Octopus tracker, the most you will pay is 30p per kWh for gas and £1 per kWh for electricity. It is a flexible tariff and receives a discount as part of the Energy Price Guarantee. You can find more information on the Octopus FAQ page for the tracker tariff.
The price you pay on the Octopus tracker tariff changes on a daily basis and follows wholesale energy prices.
You can switch back between tariffs without any penalty with Octopus. So you could try the tracer tariff if you note prices are starting to drop but it is a gamble.
The price per kWh on the tracker tariff in South Wales on 6th December 2022 is 13.80p per kWh. (At the moment there is a lack of wind and the weather is colder so prices have jumped up over the last few days.)
You can see Octopus tracker prices for the last month in my region for both gas and electricity. They vary a little depending on where you are in the country.
Octopus Outgoing Tariffs
For those with solar panels who want to sell their excess energy.☀️
Octopus Energy offers both standard Outgoing and smart SEG tariffs. Simply select the tariff that is right for you.
|Octopus Energy Outgoing Tariffs Rates. (06/12/2022)||Per kWh Exported|
|Octopus Outgoing Fixed tariff. (cannot be combined with Octopus Go import)||15.0p|
|Octopus Outgoing Agile.||Variable - half-hourly pricing based on day-ahead wholesale rates. (see table below)|
|Octopus Outgoing Go.||4.1p|
|If you own a Tesla Power Wall.||CLICK HERE.|
|Octopus SEG - (If you have NO Import tariff with Octopus Energy)||4.1p|
You can read more in my review on Octopus Outgoing.
The future of energy.
I see this as the future of energy consumption. By storing electricity we can help reduce the strain on the national grid. Electricity can go into your home from your solar panels, from the grid, or through battery storage. As an example, it can run the other way so energy can come out of the car (think of your EV as a spare battery) into your home or back into the grid. So you can run your car from your house and your house from your car. It goes both ways and so many other ways. That’s quite groundbreaking and already a possibility for some Octopus Energy customers!
Posted by Sarah at www.octopusreferral.link
How to contact Octopus Energy.
Octopus Energy Email 👉 [email protected]
Octopus Energy Free Telephone number 👉 0808 164 1088 (Monday to Friday: 8 am-5 pm) UK-based staff.
Now let’s get down to business with FREE STUFF.
How can I get a free cuddly Octopus from Octopus Energy?
Once you have signed up to Octopus Energy if you want to get your hands on a free cuddly Octopus they will send you one in the post, although it can take a few weeks depending on stock. Her name is Constantine. (I am not joking)
Borrow a free thermal imaging camera from Octopus Energy.
If you would like to borrow a thermal imaging camera to find out where the heat is escaping from your home or workplace you can request one here.
Spin to win.
Also, don’t forget you get a chance to win a cash prize when you enter your meter reading with “spin to win.”
Octopus Energy Refer a friend.
Once you have chosen to switch to Octopus Energy as a new customer using a referral link, you’ll be given £50 credit on your first bill and your own personal referral code to share with friends and families. For every person that switches with your code, you both get £50 credited towards your next bill. It takes just two minutes to switch and your code is effective immediately.