What ever questions you have about octopus energy we have them answered below.
When was Octopus Energy founded?
Octopus energy was founded in August 2015 and started trading in December 2015 by parent company Octopus Capital Limited, so it is still in its infancy compared to the big six.
Octopus Energy is headquartered in London, however has offices in London, Warwick, Brighton and Leicester in the UK. Abroad Octopus has offices in Australia, the USA and Germany too.
Octopus Energy has seen quick growth and has acquired customers by purchasing other companies energy companies, inheriting customers from other energy companies that have ceased trading and has replaces other energy companies as the energy supplier for certain brands such as M&S and Coop. This has allowed Octopus to grow fast and quickly reach over 1 million UK customers.
It has had an energy procurement deal with Shell, it has inherited customers from Iresa Limited after it ceased trading, it replaced SSE as M&S energy supplier and purchased Affect Energy in 2018.
In 2019 Octopus entered into an agreement with Coop resulting in the gain of over 300,000 customers allowing the company to pass the 1 million UK customer mark. It also purchased the GB Energy and Flow Energy brands. 2020 saw the launch of London Power the purchase of Engie UK and Upside energy.
Octopus has also expanded overseas.
Octopus energy purchased Affect Energy in 2018, GB Energy and Flow Energy in 2019 and purchased ENGIE UK and Upside Energy in 2020.
Octopus energy is active in the UK and Germany.
A unicorn is a tech start-up valued at over £1 Billion. Octopus energy became a unicorn in 2020 and achieved unicorn status thanks to an investment of £270 million from Australia’s Origin Energy. Currently it has achieved double unicorn status thanks to a strategic partnership with Tokyo Gas.
Octopus energy was founded by Greg Jackson and Pete Miller in 2015. Greg Jackson currently holds the position of CEO.
“We’re doing energy better — for you and for the environment.” – Source.
· Octopus Energy invests massively in solar energy through its parent and sister companies Octopus Group and Octopus Renewables.
· Octopus energy supports a massive variety of renewable projects.
· They proactively encourage households and businesses to generate and sell energy back to the grid.
· They invest in cutting edge low-carbon technologies.
· They have started the Future Energy Research Centre.
· By planting trees they are working to counteract worldwide carbon emissions.
· Has special tariffs designed for electric car owners.
Read more on Octopuses 100% carbon neutral electricity here.
Any Octopus Energy customer can refer a friend once they are signed up. This is all managed through the online dashboard. Once signed up you will be given your own unique link to share with your friends which you can use to split £100 With them, £50 each! Click here to sign up!
Whilst energy prices fluctuate and different companies have different promotions and offers at different times, Octopus Energy has repeatedly won the Which? Recommended Provider status repeatedly which takes price into account, suggesting it is good value for money. But do not take our word for it, Octopus is incredibly transparent with their pricing, get a quote today.
Yes. Whilst octopus has aspirations of focusing on a 100% renewable electric smart grid, the truth of the matter is that right now many homes need gas, so Octopus supplies it.
Yes. The company’s main focus is to generate and provide 100% renewable electricity.
Many Octopus customers already have smart meters. Due to Covid-19 the smart meter roll out has been slowed somewhat however customers will be contacted when an engineer is available to install a smart meter. Read more here on Octopuses’ smart meter roll out.
Octopus energy offers a competitive array of tariffs.
· Octopus tracker – Dubbed “The most transparent energy pricing in the UK” Prices rise and fall daily based on the cost of wholesale energy.
· Super Green Octopus – All the energy used is 100% green and any gas used is offset in someway so that you have no carbon footprint whatsoever due to your energy consumption.
· Octopus 24M fixed – A fixed tariff for new customer, with fixed prices, safe from any future energy cost increases.
· Flexible Octopus – Great value offer that can rise and fall as the cost of electricity changes, however customers are given 30 days-notice before any changes.
Example price list, subject to change & based on low usage. Correct as of 21/05/21
Energy prices fluctuate due to a wide variety of factors such as the cost of wholesale gas and electricity as well as demand and renewable generation.
Octopus Energy’s standard variable tariff is about £121 pounds cheaper than British Gas. – Source. Correct as of 21/05/21.
British Gas ranked 18th out of 25 in the Which? Annual customer survey and received 2 out of 5 starts for value for money against Octopus Energy’s 4. – Source
Whilst we do not have access to a direct price comparison EDF was ranked 20th out of 25 on a Which? Annual customer survey and it received 2 out of 5 stars for value for money whilst Octopus received 4. Correct as of 21/05/21 – Source
Whilst we do not have a direct comparison Eon ranked 22nd out of 25 on a Which? Annual customer survey and it received 2 out of 5 stars for value for money whilst Octopus received 4. Correct as of 21/05/21 – Source
Npower ranked 25th out of 25 in the Which? Annual customer survey and received 1 out of 5 stars for value for money whilst Octopus Energy received 4. No direct comparison was available. – Source correct as of 21/05/21
Scottish Power ranked 24th out of 25 in the Which? Annual customer survey and received 1 out of 5 stars for value for money whilst Octopus Energy received 4. No direct comparison was available. – Source correct as of 21/05/21
Comparative researched found Octopus to be cheaper than SSE. The research found that a typical UK household would accrue £81.39 in costs per month with Octopus Energy whilst being charged £88.89 by SSE for the same gas and electricity usage. – Source.
Meanwhile SSE came joint 22nd out of 25 energy companies in the Which? annual customer survey with a value for money rating of 1 out of 5 stars compared to Octopuses 4! – Source correct as of 22/01/21.
Research found Octopus to be better for the cost (£8 less a month). – Source.
Ovo came joint 8th in the annual Which? customer survey out of 25 with 3/5 stars for value for money whilst Octopus Energy achieved 4. – Source correct as of 22/01/21.
Bulb came joint 10th out of 25 in the Which? annual customer survey out of 25 with 3/5 stars for value for money compared to Octopus energy’s 4. – Source correct as of 22/01/21.
Shell Energy came 17th out of 25 in the annual Which? customer survey with 3 out of 5 stars for value for money whilst Octopus achieved 4. Source correct as of 22/01/21.