Octopus Energy Review

Octopus Energy promises clean, green energy tariff without the usual premium from the fossil fuel dinosaurs. Their tariffs feature 100% renewable energy and uniquely don’t tie you into a long contract. They are a Which? Recommended Supplier, has a 5 star Trust Pilot rating and provide great customer service. On top of this, you can get £50 for switching – what’s not to like?

Who is Octopus Energy?

Founded in 2016 Octopus Energy is one of the fastest-growing energy suppliers adding around 30,000 customers per month.

Octopus talks about disrupting the old energy supply dinosaurs peddling fossil fuels and promise honest, good value and environmentally friendly energy.

Octopus – In their own words

Is Octopus Energy cheap?

Yes, Octopus provides cheap green energy. If you’re not worried about your green credentials then you may be able to get cheaper tariffs but not by much.

If you are an electric car driver then Octopus offer a super cheap night-time charging rate of 5p/kWh between 12.30am and 4.30am. Octopus states that this is 25% cheaper than economy 7 night rates.

We feel Octopus provides a competitive rate, green credentials and great customer service which is why we personally use them.

The best supplier for Renewable Energy?

All of the energy tariffs use 100% green electricity. Octopus promises that you won’t pay a premium for your tariff, unlike the competition who often bump up prices for adding a green tariff.

You can also carbon offset the gas you use if you want to minimise your environmental impact even further.

Octopus Energy is backed by their own investment are who boast about being the UK’s largest investor in solar power, responsible for nearly 40% of the nation’s large scale solar generation.

Octopus has some of the best green credentials we have seen. It is definitely a mission we can get on board with so much so that we have moved to Octopus for our own supply.

Make Octopus the cheapest energy supplier

Octopus Energy offers customers £50 switching credit if they share their link with friends and family. If you want to earn yourself a £50 credit on your bill then follow this link.

It’s less than 10 minutes work to switch so that’s the equivalent of earning £300 per hour! The best part is you can also refer your friends and family. Each friend you refer earns you another £50 credit, There is no limit on referrals – some Octopus customers are getting hundreds off their energy supply!

How to cut your energy bill

I have been working on a strategy to cut my bills by using referrals where possible. It started with Nationwide building society where you can recommend friends and family. For every person you recommend, Nationwide gives you £100 and another £100 for your friend.

You can use our referral strategy with Octopus Energy to get money off your energy bill. If you get enough referrals your energy could even be free!

Our referral link gives you a £50 credit on your energy bill. It gives me a £50 credit too! If you do use the link I want to say thank you very much.

Once you have signed up to Octopus, just speak to friends and family about moving and use your own referral code found in your own account. This will save your friends £50 each and earn you £50 for each referral.

If you are looking to save money fast, check out this article – 9 ways to save money fast.

The thing that has made this successful in my personal life is using the service first before recommending it. My friends and family now trust me with referrals because they know I use and have researched each company I recommend.

Please be aware that some people may be in a fixed tariff and so they may have fees to pay if they cancel or leave before the end of the contract. If this is the case then just set a future reminder and give them a nudge closer to the time.

Octopus Energy is a Which? Recommended Supplier

Octopus Energy Which Recommended Supplier

Octopus Energy came out as the top energy supplier for 2019. In fact, it was the only energy company to become a “Which? Recommended Supplier”. Which? gave Octopus Energy top marks in all assessment criteria including:

  • Bill Accuracy
  • Telephone Customer Support
  • Online Customer Support
  • Value for money

Octopus Energy tariffs

We have detailed the range of tariffs below to help you pick. I have gone for the supergreenOctopus as I feel this offered me the best “green” tariff. As a father of two young kids, I want to do my part to reduce my carbon footprint.

OctopusfixedFixed prices for 12 months
flexibleOctopusFlexible prices that change with the wholesale tariff
supergreenOctopusGreenest, carbon-neutral tariff. Off-set your gas
Smart Meter tariffs
agileOctopushalf-hourly prices based on peak consumption. Shift your consumption outside of 4pm-7pm to save money
OctopusgoIdeal for electric car owners – heavily discounted electric between 12:30 – 4:30am
outgoingOctopusFor homes with Solar or Batteries. Get paid for exporting your energy

Switching energy tariff

Worried about switching? Don’t! Millions of people switch energy suppliers every year. This should be a standard task you do each year to ensure you are not wasting hundreds of pounds a year on energy.

Who is Octopus Energy owed by?

Octopus Energy is owned by Octopus Group which owns other sub-companies including Octopus Renewables (formerly Octopus Energy Investments).

Octopus Renewables invests in clean energy projects and assets throughout the world. It currently has a portfolio of clean energy assets valued at £3 Billion and produces 2.3 GigaWatts of power. To give you an idea of scale this is roughly enough energy to power Manchester!

Octopus Renewable project in Hampshire
Fullerton – Octopus-managed solar plant in Hampshire, generating 4.5GWh/annum.

Do I need a Smart Meter?

No, however, Octopus recommend you do. If you have a smart meter your bills are always accurate and you don’t ever have to manually submit your meter reading. This will eliminate estimated bills and save you time and effort.

Some of Octopus’ tariffs are only available if you have a smart meter (See our table above).

How to contact Octopus Energy

Call: 0808 164 1088

Email: [email protected]

Facebook Messanger: facebook.com/octopusenergy

The number is free to call from all UK mobiles and landlines. Phone lines open 9am — 5pm, Monday to Friday. Octopus aims to respond to emails within a couple of hours.

Your online account allows you to:

  • Submit a meter reading
  • Check out your bills
  • Change your details & preferences
  • Update your Direct Debit

Octopus Energy Review Summary

We love Octopus Energy’s “green” credentials. The prices are not the lowest however they are competitive, particularly for green energy. They provide an ideal balance between choosing a cost-effective yet good for the planet energy supplier.

Where things get interesting with Octopus is their referral scheme. If you can get one of your friends or family to move using your referral code each year it makes the tariff one of the lowest. If you can help a few people switch using your code you are going to beat the best prices and deals on the market.

We have used Octopus Energy for the last year and not had any issues which you would expect. If you want to get £50 off your bill and help your friends and family do the same then please use our link.

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EatSleepMoney.co.uk does not offer financial advice and is intended for reference/information only. Remember, you should always carry out your own research and/or take specific professional advice before choosing any financial products or services or undertaking any business or financial venture. Investments may go up as well as down and you may get back less than you put in.

Octopus Energy Review: Great value green energy
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