COMPARE OCTOPUS ENERGY TARIFF
Octopus Energy helps customers to switch to renewable energy with simple and creative tariffs. Winner of Which? Best Energy Supplier 2023 for the 6th year in a row. As well as ‘traditional’ Octopus tariffs, such as the Flexible Tariff (Energy Price Guarantee), which is fixed until April 2023, Octopus offers customers 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, possibly Economy 7 and the Octopus tracker tariffs can work out cheaper than the Energy Price Guarantee. They just require a little hustling with your energy use.
Octopus Energy is taking on new customers. You can now get an online quote and switch by answering a few questions online.
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! It is more important than ever to hold energy companies to account and demand good service and fair prices. Octopus takes customer service and fair pricing seriously. That’s why they are poles ahead achieving 1st place in the Which? Best Energy Company survey 2023. (British Gas come in 9th place!)
Octopus Energy was the only company – of 16 rated in our customer survey – with any five-star ratings from its customers. This was for the usefulness of its information about energy costs. In all other areas, it achieved very respectable four-star ratings.
Octopus Energy’s customer score of 73% was well above the average of 54%
How did your energy supplier rank for customer service in the 2023 Whicn survey? Demand good service and opt for an energy supplier who is trying to make a difference!
Here’s a quick overview of the Octopus Tariffs available to both new and existing customers.
The Octopus Flexible tariff is one of Octopus’ traditional tariffs. It is a variable tariff but from the 1st of October, 2022 has acted 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.
- Octopus Cosy Tariff – Heat pump tariff
My personal preference has always been a fixed energy deal but these are now long gone. We may see a revival in summer 2023, as wholesale prices are starting to drop, BUT anything could happen in the next few months.
For now, there are currently only 7 Octopus tariffs available to both new and existing domestic customers who want to switch tariffs or find a new energy deal. (I have excluded the Tesla Tariff but you can read more on the Octopus website) I give a summary of all 6 tariffs below.
The Octopus Tariff most customers are on – Octopus Flexible tariff.
The Octopus flexible tariff is basically a 6 months fixed deal which started in October 2022. This tariff is referred to as the standard variable tariff. It is a default tariff that all energy suppliers have. It is subsidised by the Energy Price Guarantee. (If was going to be 2 years but they change their mind in the new budget. Things may change again in the next budget too!)
You can vary the Octopus flexible tariff to include off-peak rates at night, called Economy 7. You will pay more than the Energy Price Guarantee 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.
The Octopus Flexible Economy 7 tariff 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.
There is a variety of tariffs beyond the standard variable tariff. It really is worth spending a little time considering which tariff is best for you.
I would suggest looking at the Octopus Tracker tariffs especially if you are trying to keep your home warm using gas.
Octopus Energy Quote and switch online.
Here is an Octopus Energy dual fuel tariff quote from 1st February 2023 on the Flexible Octopus tariff. (This covers both gas and electricity prices, dual fuel.) Approximate usage for a medium household using a combination of gas and electricity for their home energy need;
3 bedroom home.
2900 kWh of electricity.
12000 kWh of gas.
The most popular Octopus tariff will be – The flexible Octopus Tariff (standard variable) but once you have made the switch you can look at smart tariffs.
Get a quote – there are only 4 questions…
and 3 are multiple-choice! 💥👏💚
The price may vary depending on your usage and geographical location region. Just enter your postcode and usage to get a quote. Make sure you use the same link to sign up. If you decide to ask for an email quote and then return here to complete the switch this allows Octopus to track your switch so they can apply the £50 new customer credit.
All customers on the Octopus Flexible tariff receive a 4% discount on their standing charge. This was introduced on the 1st of October 2022.
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.
By following the link and answering a few quick questions you will get a quote. Select to have the quote on screen rather than sent to you by email. (You may miss out on the £50 credit if your sign-up isn’t tracked.) If you are happy with the quote you can then confirm if you wish to complete the switch.
I have circled the most important part of the quote which is the price you will pay per kWh for both gas and electricity.
All traditional and smart tariffs are available to new customers. Yes, you can switch to Octopus Energy using the link above. For any smart / tracker tariffs, you will have to sign up for the Octopus Flexible tariff first and then when the switch is complete ask to be moved to the smart or tracker tariff. It can sometimes take a little time as Octopus needs to make sure they are receiving readings from your smart meter.
Please read my full review of any smart tariffs you are interested in switching to as there is an eligibility criterion.
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. These are the new prices that came into effect on 1st January 2023. It includes the Energy Price Guarantee discount. You can click here to download the prices.
The Economy 7 rates have increased from the 1st of January 2023 for all energy suppliers. It doesn’t affect those on the standard Octopus Flexible tariff just those with the Economy 7 option. Why? Ofgem has decided to increase the costs for those on Economy 7 when reviewing the Energy Price Cap. According to the regulator, its “assessment of the costs of supplying those customers has increased more than direct debit dual-fuel customers.” Personally, I think it is madness when using energy off-peak is better for balancing the National Grid and it makes no sense to do this!
If you pay by another method you can find the detail here.
Octopus Energy’s time of use tariffs. Here is a quick summary.
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)
- Cosy Octopus Tariff (Electricity – Heat Pump)
- Octopus Outgoing tariffs (Home solar/wind)
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
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!
For Economy 7 customers the price increased on 1st January 2023.
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.
If you’re looking for an alternative supplier because you’re simply fed up with poor then Octopus is an extremely good option. Octopus treats customers differently. You can’t really put a price on that! Caring costs nothing BUT sadly you won’t find the same approach with every UK energy supplier.
I joined Octopus because it was a green electricity provider – and seemed fairly stable. My interactions with previous providers had been minimal – I paid the bill, they gave us electrons. Octopus was a revelation. It was hugely unexpected.
— BensGreenGamingAc 🌷 (@green_bens) January 23, 2023
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 BASED ON AUGUST V1.||Price per kWh.
MAX PRICE 22P PER KWH.
Wholesale Energy Prices
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 2022 wholesale prices started to drop BUT as EU countries started to bid for limited supplies of gas they skyrocketed in June 2022.
Thanks to a mild winter countries haven’t needed to buy so much energy as we have all been using far less. So wholesale prices have now dropped even further in 2023.
Octopus recently update a blog post explaining why when wholesale prices of energy are dropping this is not reflected in many of their tariffs. These prices are, however, reflected in Octopus tariffs that track wholesale prices such as the Octopus tracker tariffs or the in the part the Octopus Agile tariff.
Will energy prices fall in 2023?
Russia is still restricting gas supplies and so prices remain high. However, we are finding alternative countries to buy our gas from and the mild weather has is helped to bring down wholesale prices further.
From the graph above you can see how much wholesale prices need to come down to be back to pre-crisis levels. In 2023 they have already come down a lot but energy prices are currently extremely 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.
My experience choosing the right Octopus Energy tariff.🤷♀️
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 tariff, you will pay 6.86p kWh for gas and 23.44p per kWh for electricity today. This is the price you will pay on the 1st of February 2023 in South Wales. It is defiantly worth checking out this Octopus tariff as at the moment the price per kWh is around 20% cheaper than the Energy Price Guarantee. So the savings on your energy bill could be quite considerable.
It is important to be aware that the price you pay on the Octopus tracker tariff changes on a daily basis and follows wholesale energy prices. Prices may also vary slightly depending on your geographical location.
There is a cap of 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.
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.
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.
Cosy Octopus Tariff
The Cosy Octopus tariff is designed for heat pump owners and is a Variable time-of-use tariff with two price dips during the day. The dips are known as “boost periods” from 04:00 – 07:00 and 13:00 – 14:00. There is also a “peak period” from 16:00 – 19:00). Outside these times there is another price per kWh. So in total, there are 3 pricing periods, along with a standing charge.
The tariff was introduced was December 2022 v1. If you want to get a quote you can find the rates for your area on the Octopus website under Cosy Octopus. Just scroll down and enter your postcode. You may be asked to show proof of heat pump ownership to go on this tariff.
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. (01/02/2023)||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.