Bulb's 1.5 million customers will be transferred to Octopus upon completion of the acquisition. In October 2022, Octopus announced that it had reached an agreement to acquire Bulb after the latter went into special administration. That's roughly the same climate impact as planting 365 trees for each and every Octopus Energy customer. In the last year alone, 26,900 tonnes of CO2 have been saved from entering the atmosphere thanks to customers choosing Octopus’ low-carbon energy over an average standard tariff. To reduce carbon footprint even further, Octopus can offset the carbon emissions from the gas customers use for a few pounds extra each month. Octopus renewable energyĪll Octopus energy tariffs offer 100% renewable electricity, with energy needs met by clean, green sources like solar and wind power. The supplier also offers gas and electricity plans for homes with a prepayment meter. Octopus offers both dual fuel and electricity only tariffs.Octopus gas and electricity tariffs are also suitable for households using an Economy 7 meter. Octopus energy tariffs are available as fixed or variable plans, and all are focused on renewability. This brought the average annual price of energy on this tariff to £1,086. The supplier increased prices on the Flexible Octopus tariff by an average of £54 per year. In May 2021, there was a further Octopus energy price rise. However, Octopus energy prices again remained lower than the £1,138 price cap level, with an average price of £1,032. This translated to a £69 price rise for customers on the Octopus SVT. Octopus previously raised prices by 7% in April 2021 in response to the new price cap level. In reaction to this, Octopus energy prices were increased to an average price of £1,266, making it the rare supplier to price considerably lower than the price cap level. Previously, in August 2021, Ofgem announced it would be increasing the price cap to £1,277 from October 2021. Octopus therefore set its SVT rate at £1,968.93. The cap was set at its highest ever level of £1,971 in February 2022, coming into effect in April. Like most UK energy suppliers, Octopus energy tariffs are subject to Ofgem's energy price cap, which sets the maximum rate suppliers can charge for average usage on their standard variable tariffs. The Octopus Go Tariff is designed especially for households with an electric vehicle, offering cheaper night rates to help make charging more affordable. Other Octopus Energy tariffs include the Tracker tariff based on the daily wholesale price of energy, and the Agile Octopus tariff with half-hourly rates. There are a variety of Octopus Energy tariffs on offer, including fixed rate and variable tariffs. Octopus Energy customers have access to an online account, with features from editing Direct Debit amounts and dates, to entering a meter reading, to managing email and account preferences, requesting a credit refund, and booking a smart meter installation. Emails and calls to Octopus Energy are answered by UK-based energy specialists, with average call wait times under a minute. Octopus also offers no exit fees, a commitment to year-on-year, transparent pricing, and personalised service. Octopus Energy tariffs all offer 100% renewable electricity as standard, with the option to offset the gas that you use. Octopus Energy reviews were collected across five categories by Uswitch and YouGov. It also placed second in the Most Likely to Recommend category. Octopus Energy scored three and half out of five stars for Customer Service, which was enough for it to come in third in Uswitch's most recent survey of over 16,000 UK energy customers.
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