Octopus Energy review: Is it worth switching?

All energy companies are the same… aren’t they? Actually, no. Let’s see the pros and cons of being an Octopus Energy customer and whether they’re a company you should switch to.

My name is Pete and I’m a serial switcher. If I can find a better deal, I’m happy to swap providers at the drop of a hat. Well, that was until recently. So, why would I stick with Octopus Energy for so long? Let’s take a look at what’s on offer.

Octopus Energy – the positives

If you choose to go with Octopus, what are the main benefits?

✅ A good choice of tariffs

Octopus keeps things fairly simple but still has a good number of tariffs to choose from:

flexibleOctopus – this is a fairly consistent tariff, but can go up and down if there are major changes in the energy market. You’ll receive a notification in advance of any changes.

Loyal Octopus – a fixed price tariff. This is usually more expensive than a flexible tariff, but you will know how much you are paying for the next 12 months.

Agile Octopus – Agile prices are based on the wholesale price and are updated every 30 minutes. Prices can spike during peak times, so it’s more suitable for people that can change their usage habits. On average, during winter 2022/2023, customers paid over 1p/kWh more compared to flexibleOctopus. However, this tariff does come with Plunge Pricing, which means you could be paid for the electricity you use.

Octopus Go – gives you cheaper electricity between 00:30 and 04:30 every night.

Intelligent Octopus Go – this is a super-charged version of Go. Instead of four hours of cheap electricity, you get six. However, you will need a compatible electric car to qualify. Find out more about Intelligent Octopus Go.

Octopus Tracker – this is Britain’s first tariff to truly follow the wholesale price of energy. The price changes daily and can go up and down sharply. You need to be comfortable with large price changes.

Export tariffs – for those with solar panels, Octopus has a Smart Export Guarantee (SEG), which means you can get paid for the electricity you produce.

✅ Access to free energy

If you have a smart meter, Octopus gives you free electricity for two or three hours during selected periods. Known as Power-ups, you can use as much electricity as you like and Octopus will refund you.

In some areas, you can get as much as a 50% discount on your electricity during windy days due to the Octopus Fan Club.

✅ Get paid to reduce your energy usage

Octopus has teamed up with the National Grid to offer Saving Sessions. These are usually one-hour periods during selected peak times (usually around 5 or 6 pm), where you will earn money (OctoPoints) if you reduce your usage.

✅ Earn rewards

Octopus runs its own reward scheme called Octoplus. By completing various tasks, such as referring friends and saving energy with Saving Sessions, you’ll earn OctoPoints, which can be converted to credit on your account.

✅ Green energy

Octopus now supplies 100% green electricity to its customers and continues to invest in new renewable generation. They’re one of the largest investors in renewable energy in Europe, with a large focus on solar power. They were also the UK’s first energy company to offer a smart way to pay people for solar micro-generation.

✅ Great for Electric Vehicle owners

As I mentioned above, Octopus has tariffs specifically for EV owners. This allows drivers to charge their cars at a reduced rate, potentially saving hundreds every year.

✅ Which? recommended

Every year, Which? conducts a study on the best energy suppliers in Great Britain and Northern Ireland. Speaking to over 7,000 customers, they compare factors such as customer service, billing accuracy and value for money. The scores are collated and an award is given to the best provider each year. And Octopus Energy has been awarded the honour every year since 2017… although the award went to Utility Warehouse in 2024.

✅ Top-rated customer service

In the 2024 Which? energy ratings, Octopus scored 74% in customer satisfaction from the Which? findings. This was top of all the energy companies…. although a slight drop from 80% it scored back in 2022.

If you need to contact them, you can do it by phone, email or through X (formerly Twitter).

✅ Free electric blankets

During the steep energy price rises of 2022, Octopus Energy offered free electric blankets to their most vulnerable customers. It’s far cheaper to heat you, rather than to heat a room. This scheme has continued to run and customers can apply by following this link.

✅ Simple online account management

As I’m sure you’re well aware, energy companies have a habit of allowing you to build up massive credit balances. And it can be a pain to get it paid back into your account. But with Octopus, you can visit your account and simply request a refund. This will then be manually checked by an employee and if all goes well, it should be in your bank within a few days.

You can also edit your monthly payments too. If you think you’re paying too much (or too little) you can change your direct debit within seconds.

✅ Easy-to-use app

Not only does Octopus provide you with a great website to use, but the app is also a joy. Unlike other companies, the app provides almost all the features of the main site. That means you can manage your whole account from your phone.

✅ Referral scheme

Another great benefit to being an Octopus Energy customer is the referral scheme. When you join, you’ll be given your own unique refer-a-friend link. Share your referral code with friends, and you’ll receive £50 credit to your accounts when they join. This can be a great little earner.

✅ Octo Aid

Octopus is an open company that allows developers to create their own software to link to your energy account. One of these useful programmes is Octo Aid, which allows you to track and predict your energy usage and gives you a cost breakdown. It’s free to use and essential for anybody who wants to keep a closer eye on their energy bill.

✅ Spin the wheel

Octopus had a ‘wheel of fortune’. Which sounds more exciting than it is. Each month, you submit a meter reading, and you can spin the wheel, giving you the chance to win OctoPoints. You can do it once each for gas and electricity. This ranges from 8 (1 pence) to 800,000 points (£1,000)

If you have a smart meter installed in your home, you will automatically get the chance for a second spin. But don’t hold your breath… I have never won more than 800 points (£1).

✅ Installation services

If you get fed up with tradesmen messing you around, Octopus will install products such as EV chargers and solar panels for competitive prices. In many cases, you can get a quote online without the need for somebody to visit.

The bad bits

All companies have their bad points. Don’t they? Actually, looking around the web, there are very few minuses to being an Octopus customer. But here are a few of the downsides.

❌ They are expanding quickly

The energy market is changing and we’ve seen plenty of companies go out of business over the years. Octopus took on most of Bulb’s customers whilst also purchasing Shell Energy UK. This has made it one of the biggest energy suppliers in the UK. My concern is that this expansion could strain customer services, as seen by other companies in the past.

❌ Internet based

As an Octopus customer, you need to be comfortable with the internet as your account is mainly managed online. Having the app on your phone also makes life a little easier.

❌ Refunds can be a little slow

Due to this website and Octopus’s generous referral scheme, I can sometimes build up credit in my energy account. However, it can sometimes take several weeks for it to reach my account. I know other companies can be even worse, but it’s still frustrating. I would have thought that with modern technology, it shouldn’t take more than a week.

❌ Some tariffs need a smart meter

If you’re going to make use of the Octopus Go or Agile Octopus tariffs, you will need to have a smart meter installed. If you don’t have one already, then Octopus will fit one. But many people still aren’t keen on putting these in their homes.

❌ The gas isn’t green

But in fairness to Octopus, that’s an impossible thing to do. As the government looks at new ways for us to heat our homes, this should become less of a problem.

What other people say

When writing my reviews, I always like to take a look at what other customers think. On Trustpilot, from almost 200,000 reviews, Octopus scores an impressive 4.8 out of 5. Most users praise the customer service and the great value they receive.

Complaints seem to vary, with some people unhappy with the length of time it took to receive a reply to a query or issues with their smart meters.

My experience with Octopus

I’ve been a customer since 2019, and overall, I have been a very happy customer. I’ve never had an issue with my supply, my bills are accurate and Octopus has always offered competitive rates.

When it comes to customer service, up until 2023, it was always perfect. However, I have noticed that if I ask a question that takes more than a basic answer, it can take a while before I hear back. Some of my emails can go unanswered for a week, and the same goes for X.

I have found that Octopus respond much better by phone, and I’ve rarely ever had to wait in a queue.

Is it difficult to switch?

Changing energy suppliers is fairly simple, thanks to the Energy Switch Guarantee. Just let your new supplier know and they’ll do everything for you. All you have to do is provide some meter readings.

Is it worth switching to Octopus Energy?

If you’re looking for an energy company with competitive rates, is forward-thinking and has the best-rated customer service, then I can’t recommend Octopus nearly enough.

Yes, it’s not without its downsides, but unfortunately, that’s what we come to expect from the energy sector.

But I know I’m not alone in thinking that this is the best energy company available on the market. Although the bar is set pretty low…

If you fancy giving them a try, use my link below and we’ll both earn £50 credit when you join and you make your first direct debit payment.

£50 from Octopus

Further reading

Why not take a look at ways to reduce your energy bill?

FAQs