Octopus Energy calls on Ofgem to clamp down on payment penalty for careful customers
Octopus Energy, the UK’s third largest energy supplier, calls on Ofgem to end payment penalties sooner for standard credit customers, after it confirmed that it wouldn’t make changes until 2024/25.
Today the company releases evidence showing that three quarters of customers (75%) who pay by cash, cheque or card for their energy don’t realise they are being charged much more than customers who pay by direct debit*.
The research also shows that this charge disproportionately affects older people. Almost a third (28%) of people – the largest cohort – who pay via cheque or cash are over 65.
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