Octopus Energy

Key information about Octopus Energy

Octopus Energy says that everything it does is designed to make its customers’ lives better while also being as kind to the planet as possible. To help in this mission it makes four commitments:

• Fair, transparent pricing that reflects the wholesale costs of energy.
• Control over your supply so you can leave at any time without having to pay any exit fees or tie-ins.
• At least 50% renewable electricity on its standard and variable tariffs and 100% renewable electricity on its green tariff.
• Fast and flexible customer service with no call centres.

Octopus Energy is a gas and electricity supplier that specialises in renewable energy sources.

Company history

Greg’s aim was to make energy better because he felt people were paying too much and being messed around by energy suppliers too often. Octopus Investments was founded in 2000 to build companies that make a difference. Through it has a market-leading position in renewable energy. It is also a market leader in tax-efficient investment, smaller company financing and healthcare.

Octopus Energy opened its first solar generation plant in 2011. In 2017 it has 154 solar farms in the UK and 66 in France. This means it is the UK’s largest investor solar. In fact, when the sun shines, its farms generate 40% of the UK’s large scale solar – enough to power 250,000 homes, which is a city the size of Manchester..

 Octopus Energy was started by Greg Jackson and Octopus Investments in 2011.

The company also invests in:

• Wind generation
• Anaerobic digestion plants, which use the natural breakdown of plant waste to make electricity
• “Rapid response” gas generation, which balances supply when there’s no wind and sun.

Customers

As of October 2016, it is estimated that Octopus Energy had 40,000 customers.

Help for low income families or those in debt

If you are struggling to pay your energy bills, you need to get in touch with them as soon as possible on 0333 344 2268. Lines are open between 9:00am and 5:00pm from Monday to Friday.

Octopus Energy may be able to offer you the following solutions:

• Deferring payment for a short period of time
• Agreeing a debt repayment plan
• Agreeing a regular instalment plan for future bills
• Arranging for payments to be taken directly from your benefits using the Fuel Direct Scheme, if you are on certain means tested benefits
• Installing a prepayment meter.

Octopus also makes several energy saving suggestions on its website. It says that saving energy will not only save money but also save the planet. Its suggestions include:

• Switching from halogen lightbulbs to LED lightbulbs
• Switching off appliances at the socket rather than using the standby mode
• Avoiding using your immersion heater except for emergencies
• Using your washing machine and dishwasher only when they are full
• Filling the kettle with only as much water as you need
• Fitting good loft insulation, cavity wall insulation and double glazing.

Warm Home Discount Scheme

As of Winter 2019, Octopus Energy has joined the Warm Home Discount Scheme.

The Warm Home Discount Scheme gives eligible people a £140 discount on their electricity bill between October and April. The Warm Home Discount Scheme payment doesn’t affect your annual Winter Fuel Payment or any Cold Weather Payment you might receive.

For more information on the Warm Home Discount Scheme you can visit www.gov.uk/the-warm-home-discount-scheme/

You are automatically eligible for the scheme if your energy company is a member of the scheme and you get the Guarantee Credit element of Pension Credit. People who are on a low income or get certain means-tested benefits and have their electricity from suppliers who are part of the scheme may also be eligible. If you think you may qualify, you need to apply for the payment via your electricity supplier.