Most homes would save with Octopus

We're on a mission to make green energy cheap.

Most homes in Britain are paying for energy at the price cap rate. Octopus is the only large supplier to price meaningfully below the Ofgem Energy Price Cap, and we've done so since the cap was launched.

If you're paying price cap rates with any supplier for your gas, your electricity, or both – you'll save money if you switch to Octopus.

Here's how we do it:

We keep our variable tariff, Flexible Octopus, below the Ofgem Energy Price Cap. We’re the only large energy company priced under the cap, and we've done it since the cap was introduced in 2019.
We do this by setting our standing charges lower. High standing charges make it particularly hard for energy-conscious homes to save on their bills, so we’ve taken a stand against the recent increases. Our Flexible Octopus standing charges are 6.6% lower for gas and 3.4% lower for electricity than the price cap, and we give standing charge holidays to customers who need it most.

Our discounted standing charges also mean if you're currently paying price cap prices, you’ll save on your energy bills, regardless of whether you're a low user, high user, or somewhere in between.
Beyond that, our smart tariffs help hundreds of thousands of customers save by using energy when it’s greenest.

Take Octopus Tracker. The price changes every day following the wholesale market, and over the past few months on average, rates have been 30% cheaper than the price cap. Or Intelligent Octopus Go, which gives EV drivers a cheaper overnight rate for charging on the greenest energy.
Customers who need it most get extra help from our £30m Octopus Assist fund, from free electric blankets to keep warm for less (saving a typical home £300 over winter), to thermal cameras to help people spot heat loss in leaky homes, to direct bill support grants.
Rewards and extra benefits give customers even more value. With Octoplus, our unique rewards scheme, a savvy Octopus customer can claim over £1,000 worth of freebies and bargains a year, including free hot drinks from Caffè Nero or Greggs, regular sweet treats, discounted Odeon cinema tickets, meals at Mitchell & Butler, and National Trust passes.
Octoplus customers also get access to Octoplus Saving Sessions, and get paid for using less electricity when the grid is stressed. With over £10m paid to customers, Saving Sessions are a simple way to shave a few pounds off your bill.

We firmly believe customers shouldn’t have to switch every year to get a great deal. That’s why we focus on great value for the long term.

The average Octopus customer (that's a household using 3,720kWh of electricity and 15,271 kWh of gas per year) who fixed with us in 2016 and stuck on Flexible Octopus ever since would’ve saved £1,456 by now compared to another large legacy supplier.

You can read more here about how we've fought to make energy prices fairer for all over the eight years we've been in business.

The numbers behind the savings:

29 million households are connected to the electricity grid in Britain. 22 million households are connected to the gas grid [Source: Energy Networks]
Of those, 6.8 million are Octopus electricity customers and 5.8 million are Octopus gas customers already. [Source: Internal Octopus data]
Of the remaining 22.2 million electricity households Ofgem’s Retail Market Indicators show 15.8 million (71%) are supplied by the other large suppliers on their default tariff.
Of the remaining 16.2 million gas households, 13 million (80%) are supplied by the other large suppliers on their default tariff. The other large suppliers are British Gas, E.ON, EDF Energy, OVO Energy & Scottish Power. Both Shell Energy and Bulb customers are now Octopus customers.
Ofgem’s Retail Market Indicators show Octopus Energy has the cheapest Standard variable (or default) tariff of any large supplier.
The overwhelming majority of small and medium suppliers also charge within a few pounds of the Default tariff cap for their default tariffs, but as public information is scarce for customer numbers and tariff choices, we’ve excluded them from this calculation.
Octopus Energy’s 12M Fixed tariff is also cheaper than the Default tariff cap. While prices change regularly, a typical dual fuel annual quote is £1,611 as of 18/06/2024. (Source: Internal Octopus data)
This means >71% of homes would pay less on their annual bill if they switched to Octopus Energy.

Matt switched to Octopus and started saving:

Matt switched his dual fuel home to Octopus in April 2023, from the Standard Variable Tariff (SVT) of one of the large legacy suppliers. Since his switch, Matt has saved over £15 compared to sticking with his previous supplier, and has earned Octopoint credits as well.

Hey I'm Constantine, welcome to Octopus Energy!