Octopus Energy

Octopus Energy: electricity supply and energy solutions for homes and businesses in the UK

Octopus Energy is an energy supplier headquartered in London that operates in the UK market and, through subsidiaries, in Germany, Spain, France, Italy, Japan, New Zealand and the United States. The company presents itself as the UK's most awarded energy supplier and claims to supply electricity and gas to more than ten million homes in Britain and abroad. Its proposition combines energy supply with technology services focused on efficiency, self-consumption and electric mobility.

Supply for homes and businesses

The company sells electricity and gas to both residential customers and small, medium and large businesses across Britain. According to its own presentation, it sells directly without intermediaries and offers fixed and flexible tariffs. The company maintains that its standard prices have historically been lower than those of other large suppliers and that, during the energy crisis, it absorbed more than £150 million to offer its customers the lowest variable tariff in the country. For businesses, it offers instant quotes and dedicated support according to the complexity of the supply.

Smart tariffs and consumption management

Octopus Energy offers several smart tariffs designed to adapt consumption to market prices and the availability of renewable energy. These include Intelligent Octopus Go, which schedules electric vehicle charging at cheaper times and adds six off-peak night hours for the home; Octopus Tracker, with daily prices indexed to the wholesale cost of energy; Agile Octopus, with electricity prices every half hour that update daily and allow consumption to be shifted outside the 4:00 pm to 7:00 pm peak; and Octopus Fan Club, which offers discounts of up to 50% on the bill to customers with a nearby wind turbine when it is operating.

Heat pumps, solar and batteries

The company offers installation of heat pumps, solar panels and home batteries. For heat pumps, it states that it designs and installs them itself, that they are up to four times more efficient than a gas boiler and that they can qualify for a £7,500 grant, with estimated savings of around £370 per year on the bill. For solar energy, it sells panels with a 25-year warranty and flexible payment options, and has specific tariffs such as Intelligent Octopus Flux, which allows surplus energy to be exported to the grid, and Outgoing Octopus, which pays a flat rate for exported solar electricity.

Electric mobility and charging

Octopus Energy offers electric vehicle solutions including model selection, home charger installation from £949 and smart charging tariffs. The company states that home charging can save 86% compared to public charging and that smart charging reduces costs by up to 70%. It also manages Electroverse, a platform that gives one-tap access to hundreds of thousands of chargers in the UK and Europe, and offers the possibility of acquiring a new electric vehicle with up to 40% off through the Salary Sacrifice scheme.

Customer service and awards

The company bases its proposition on a customer service rated 4.8 stars from 873,869 reviews and has been recognised as a Which? Recommended Provider for nine consecutive years. Its Octoplus rewards programme offers benefits and offers ranging from weekly drinks to cinema tickets. The company also states that it invests in renewable energy and in the transformation of the energy system, and has hundreds of vacancies open in the UK.

Corporate structure and international presence

Octopus Energy Ltd is a company registered in England and Wales with company number 09263424. Octopus Energy Services Ltd, with company number 10434397, is authorised and regulated by the Financial Conduct Authority as a credit broker and not as a lender, with firm reference number 1033722. The registered office is at UK House, 5th floor, 164-182 Oxford Street, London W1D 1NN. The company operates through subsidiaries in Germany, Spain, France, Italy, Japan, New Zealand and the United States.

Location and contact

UK House, 5th floor, 164-182 Oxford Street, London, W1D 1NN