There are quite a few energy companies coming into the market in the last couple of years. This is great for us as consumers, as more competition gives us more options to choose from, and the companies themselves will be more competitive as a result, giving us better deals.
One of these companies is Octopus Energy, which you’ve probably seen advertised all over the internet in the last few years. But just how good are this company, and are they worth considering if you’re looking for a new energy deal? Well, let’s take a look at Octopus Energy and see if it’s worth your time switching over to their service.
Octopus Energy Review
Who Are Octopus Energy?
The likelihood is that if you have heard of Octopus Energy over the last few years. They’re advertising pretty much everywhere, and they’re on a warpath trying to take down the bigger energy companies out there. Although they’ve been around for a while as a company, they really came to the forefront of the energy market back in 2017.
They have many different solar farms around the UK, but they also buy energy from the big generators too. What started as a one man mission now has hundreds of employees up and down the UK.
Octopus Pricing & Tariffs
Their tariffs and pricing structure are much easier to understand than other energy companies out there, and it should be easier for you to find one that suits you. You have the option to go for a fixed or flexible tariff, and which you opt for will depend on what exactly it is that you need.
A flexible tariff will change as the rate of energy costs change for everyone at a wholesale rate. So if it goes up, your tariff will go up. And if it goes down, then your tariff will go down too. A flexible tariff might change 2 or 3 times throughout the year, but it won’t be changing every other week.
You can also opt for a fixed tariff, which will stay at the same rate throughout your contract. This will give you better peace of mind, and with Octopus, the tariffs tend to be about 12-18 months in contract length.
Can I Use a smart meter with Octopus Energy?
The likelihood is that you can use your smart meter with Octopus pretty easily. This is true if you have a SMETS2 smart meter, which you can connect to the company pretty easily. If you still use a SMETS1 smart meter, then this won’t work as a smart meter, and you’ll have to manually give your meter readings to Octopus.
What is Octopus Energy’s customer service like?
Octopus have great customer service, especially if you’re used to dealing with one of the big six companies, who are known for their lack of customer help (not mentioning any names, SSE!). You can easily get in touch with them via their website, phone call or they’re extremely active on social media too, which might actually be the best way to get in touch with them.
Is Octopus Energy a good company?
Octopus Energy have around 35,000 reviews on Trustpilot. And across all of these reviews, their average score is 4.8 stars out of 5, which is almost perfect. It seems like consumers are happy to have honest companies like Octopus who can provide them with a cheaper energy service than their current option, which may have been overcharging them for years.
Is it easy to switch to Octopus?
If you’re interested in switching over to Octopus, then it really couldn’t be any easier. All you need to do i give them your details, and they’ll take care of sending the information needs to your current energy supplier. Within a month, you should be switched over to the Octopus Energy service.
Can I cancel my contract with Octopus Energy?
Obviously, if you’re not happy with Octopus later down the line then it’s very easy for you to cancel your contract with them and move to a different energy provider. If you do this within 50 days of the end of your contract, then your provider actually can’t charge you any exit fees whatsoever! So, you’ll be free to switch to whichever energy company you’re happiest with.
Overall, it’s really good to see companies like Octopus becoming more and more popular in the UK. They’re genuinely there to try and get you the best energy price possible. Obviously they need to make a profit too, but it’s more reasonable than with some of the bigger firms, so it’s a win-win scenario for both you and Octopus.
If you’re unhappy with your current energy deal, then get in touch with Octopus and see if they can help you out. They should be able to beat your current energy deal, as they’re one of the cheapest on the market.