Why we sometime introduce exit fees
We try not to have exit fees, but sometimes it's necessary
Every now and again, we're able to buy a limited amount of energy on a super low rate — this can happen when wholesale prices drop suddenly and we can jump on the opportunity to lock in a low rate for a year's worth of energy. It means that for a limited group of customers who take up the new tariff, we can offer a seriously good deal.
But you’ll notice these tariffs come with an exit fee — and we wanted to explain why.
First off: we hate exit fees too.
Most of our tariffs don’t have them — and we’ve always tried to keep things flexible for customers. But for certain fixed tariffs it is a bit different, and to make it work, an exit fee is necessary to keep our business sustainable in the long run.
Here’s the deal:
When you sign up for a fixed tariff, we buy your energy upfront at today’s prices to cover the whole year. That way, we can lock in your rate — no matter what happens in the market later.
If loads of people were to sign up for this ultra-low fixed rate and then leave early, we’d be left holding energy we bought for them — at a higher price than what we could sell it for. That ends up costing us a lot, which makes it harder to offer good deals like this in future.
So the small exit fee (just £50 per fuel) helps protect against that. It means we can confidently offer super low prices to those who genuinely want to stick with it for the year.
Want flexibility instead?
Totally fair. We’ve got other tariffs without any exit fees — so if you’re not sure about fixing, or you prefer to keep your options open, one of those might suit you better.
As always, we’ll be completely upfront about everything — no sneaky terms, no nasty surprises.
💚 Thanks for sticking with us — we’re always working to get the best energy deals out there, while staying fair and sustainable for everyone.
Hey I'm Constantine, welcome to Octopus Energy!
×Close window