How To Compare Energy Prices From Octopus Energy With Utility Saving Expert
Follow these four simple steps to compare Octopus Energy prices against our trusted panel of UK energy suppliers:
Enter your home postcode details and attach a copy of your latest energy bill to our form. If you need assistance, call our energy experts on 01242 32 31 31.
We’ll provide you with a list of domestic energy deals that fit your needs and budget.
Compare the different energy contracts and choose the one best suited to you. Your new supplier will handle the switch on your behalf.
Your switch will be complete within four to six weeks. Sit back and enjoy the savings on your next home energy bill.
Who Are Octopus Energy?
Octopus Energy is a multi-awarded UK energy supplier and its Octopus Energy Generation division is one of Europe’s largest investors in renewable energy. Founded in the UK in 2016, it has rapidly expanded its operations across 18 countries, including the USA, Germany, and Japan.
As of Q4 2024, Octopus Energy has secured itself the place as the second-largest energy supplier in the United Kingdom, with a 22% and 22.2% market share for electricity and gas, respectively. Additionally, Octopus has gained more than 1.9 million customers since Q1 2023, reaching a 22% market share and serving 6.8 million UK households (7.7 million homes globally).
The Octopus Energy Group offers a wide range of residential and [commercial] energy products:
- Octopus Energy Generation – Europe’s largest green energy investor.
- Octopus Energy Service – installation of affordable heat pumps, EV chargers, and smart meters.
- Octopus Electric Vehicles – making EV charging easier and cheaper.
- OE for Businesses – 100% green power for UK businesses.
- Octopus Energy Centre – research hub dedicated to the world’s low-carbon energy transition.
- Kraken Tech – a cloud-based “robot” that helps customers manage their energy usage better.
Reviews
Octopus Energy has an overall 4.8/5 star Trustpilot rating based on 422,000+ reviews.
Octopus Energy Price Plans
The Octopus Energy Group offers various smart tariffs that help cut your carbon emissions:
Flexible Octopus
This variable tariff is adjusted every three months to align with [wholesale energy prices]. It has no exit fees, meaning customers can switch tariffs or cancel their plans with no penalties.
Octopus Tracker
This smart tariff changes daily based on the wholesale cost of energy. The price of electricity is capped at 100 p/kWh, while gas is capped at 30 p/kWh.
Fixed Octopus
A Fixed Octopus energy tariff allows customers to lock in their unit price and standing charge for a fixed period of time, usually between 12 and 24 months. This protects you against energy price fluctuations, providing stability and predictability.
Electric Vehicle Tariffs
- Intelligent Octopus Go – get smart charging for 7 p/kWh, including six hours every night between 23:30 and 05:30 for the entire house.
- Octopus Go – a smart energy tariff with cheaper electricity between 00:30 and 05:30.
Solar & Battery Tariffs
- Octopus Flux – an import and export tariff that powers your home with 100% renewable energy. Top up your battery with cheaper rates between 02:00 and 05:00. Export surplus energy back to the grid between 16:00 and 19:00.
- Intelligent Octopus Flux – a smart import and export tariff that gives you the best rates for consuming (i.e. importing) and selling (i.e. exporting) your energy.
- Outgoing Octopus – is available in two options: receive a flat rate of 15 p/kWh when you generate more energy than you consume; match half-hourly prices with uncapped day-ahead wholesale rates (i.e. Agile Octopus).
Cosy Octopus
A smart tariff designed to keep homes with heat pumps warm – for less. Cosy Octopus is a three-rate tariff with daily triple dip Cosy Hours from:
- 04:00 – 07:00
- 13:00 – 16:00
- 22:00 – 00:00
Agile Octopus
This smart tariff is ideal for households using electricity outside of peak hours. A unique feature of this plan is “plunge pricing”, which pays customers to use electricity when wholesale prices drop below zero.
You must have a smart meter for this tariff, as pricing is adjusted every 30 minutes (i.e. half-hour meters).
Shape Shifters Business Tariffs
The Shape Shifters tariff is a smart, time-of-use energy tariff specifically aimed at small businesses. Pricing is split into three tiers:
- Night rate: 00:00 – 07:00 = cheapest
- Day rate: 07:00 – 16:00 = cheaper than standard rates
- Peak rate: 16:00 – 19:00 = highest rate
Which smart tariffs are best for you?
Low-Carbon Technology | Recommended Tariff(s) |
---|---|
Heat Pump | Cosy Octopus |
Electric Vehicle (EV) | Intelligent Octopus Go |
Solar Panels | Octopus Outgoing |
Solar & Battery Storage | Octopus Flux |
Battery Storage | Agile Octopus + Octopus Outgoing |
EV & Solar | Intelligent Octopus Go |
EV & Heat Pump | Intelligent Octopus Go |
EV, Solar & Heat Pump | Intelligent Octopus Go |
Heat Pump & Solar | Cosy Octopus + Octopus Outgoing |
None | Agile Octopus or Octopus Tracker |
Octopus Energy: Latest Energy Rates
Here are Octopus’ latest electricity and gas prices for 2024, according to various UK regions:
Electricity
Region | Unit Price (p/kWh) | Standing Charge (p/day) |
---|---|---|
Eastern | 25.21 | 48.79 |
East Midlands | 23.77 | 54.85 |
London | 25.69 | 39.54 |
North Wales & Merseyside | 25.39 | 65.84 |
Midlands | 23.83 | 61.56 |
North West | 25.01 | 49.98 |
Southern | 24.62 | 62.22 |
South East | 25.24 | 55.79 |
South Wales | 24.49 | 62.06 |
Yorkshire | 23.51 | 66.26 |
Southern Scotland | 23.96 | 62.12 |
Northern Scotland | 24.96 | 59.93 |
Prices updated October 2024, based on Flexible Octopus tariffs paid via direct debit.
Gas
Region | Unit Price (p/kWh) | Standing Charge (p/day) |
---|---|---|
Eastern | 6.16 | 29.38 |
East Midlands | 6.09 | 29.43 |
London | 6.31 | 29.95 |
North Wales & Merseyside | 6.21 | 29.86 |
Midlands | 6.19 | 29.62 |
North West | 6.16 | 29.71 |
Southern | 6.32 | 29.25 |
South East | 6.17 | 29.34 |
South Wales | 6.45 | 29.77 |
Yorkshire | 6.21 | 29.67 |
Southern Scotland | 6.16 | 29.74 |
Northern Scotland | 6.16 | 29.71 |
Prices updated October 2024, based on Flexible Octopus tariffs paid via direct debit.
Pros And Cons Of Switching To Octopus Energy
To help you make a more informed decision, here are a few benefits and drawbacks of having Octopus Energy as your chosen energy supplier:
Pros
Competitive pricing: Octopus is known for its competitive rates, which are often lower than traditional suppliers.
Energy price cap: Octopus’ rates are governed by Ofgem’s energy price cap, regulating the maximum amount suppliers can charge for variable tariffs.
No exit fees: You can switch or exit your energy contract with Octopus without paying any penalties.
Excellent customer service: The company has earned a stellar reputation with a 4.8/5 star Trustpilot rating, backed by clients praising its responsiveness and customer service.
100% renewable energy: Octopus supplies its customers with 100% renewable electricity sourced from a mix of solar, wind, and hydro suppliers.
Various tariff options: Octopus Energy offers a variety of smart tariffs that align with your sustainability goals, energy usage, and budget.
Easy switching process: Octopus is part of the Energy Switch Guarantee and will handle switching suppliers on your behalf.
Warm Home Discount Scheme: Octopus Energy is a participating energy supplier in the Warm Home Discount Scheme, helping pensioners and low-income households with high energy costs.
Cons
Price fluctuations: Variable tariffs may face fluctuating prices, which can lead to higher energy bills.
Smart meters: Some tariffs (e.g. Agile or Tracker) are only available if smart meters are installed at your premises.
Mixed reviews: Some customers have expressed frustration regarding incorrect billing, poor smart meter installation, and the lack of response from support teams.
How To Contact Octopus Energy
There are several ways you can contact Octopus Energy:
Phone
Call 0808 164 1088, Monday to Thursday between 09:00 and 17:00; and Fridays between 09:00 and 16:00. Octopus is available 24/7 in emergencies.
- Email Octopus Energy seven days a week at hello@octopus.energy.
- Use emergency@octopus.energy in case of emergencies.
Website
Visit the Octopus Energy website.
Head office
UK House
5th floor
164-182 Oxford Street
London
United Kingdom
W1D 1NN
Frequently Asked Questions (FAQs)
Who is the founder of Octopus Energy?
Greg Jackson is Octopus Energy’s founder and Chief Executive Officer (CEO).
How does Octopus Energy charge its customers?
In normal times, Octopus only charges its customers what it costs to supply power +5% to cover business costs.
Will my energy supply be disrupted when switching to Octopus Energy?
No, Octopus Energy is part of the Energy Switch Guarantee Scheme which means they handle switching your energy contract with your current supplier without any fuss or disruption to your supply.
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