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How to compare Octopus Energy prices with Business Energy UK

Are you considering switching energy companies? Then you may want to consider Octopus Energy. Switching to a new brand can come with many benefits, including reducing your energy bills and providing you with better service. But who are Octopus - and are they a good energy company?

If you've never changed your energy company before, it can seem a little daunting. How do you go about it, and how do you know Octopus is the right company for you? With our useful comparison page, we aim to give you all the information you'll need about the Octopus Energy brand.

We'll go through the tariffs they offer, the pros and cons of becoming an Octopus Energy customer, and how to begin the process of switching over. We've even included a handy FAQ section to give you as much advice and information as possible about switching energy suppliers.

If you're interested in switching to Octopus Energy and want more advice, be sure to keep reading, or take a look at our homepage for more information.

Who is Octopus Energy?

Octopus Energy is a UK based business gas and electricity brand that specialises in greener energy through sun, water, and wind generation. The company was founded in August 2015 as a branch of Octopus Energy Group to make energy better.

Founded in 2000, Octopus Group is a private holding company that also operates in real estate and investment management. Additionally, they have a 20% stake that's held by Origin Energy.

Although Octopus Energy launched just a few years ago, they supply energy to 2 million business and domestic customers and has won numerous awards, including the Which? Recommended Provider award in 2021. It's also the only energy supplier to have won the WRP award more than twice.

Part of the reason for its rapid growth is through taking over smaller energy suppliers and their competitors that have gone through administration. In April 2021, Octopus Energy announced that it would provide energy for customers of Ebico.

A not-for-profit company, Ebico would be in charge of gaining new customers, and Octopus would provide its exceptional customer service.

Octopus supplies greener and more sustainable energy and focuses on making things as simple for its customers as possible.

Not only do they provide electricity to their own customers, but they also supply the customers of the Co-op and M&S with energy through partnerships. They also offer some of the most competitive prices, plenty of information, and great customer service.

Octopus Energy business electricity rates and tariffs

Next, we'll take a look at the tariffs that this energy firm offers. They offer a variety of contracts, so you're sure to find the one that suits you and your home the best.

Fixed-rate contract

Their standard fixed rate tariff is a 12-month contract, and there are no exit fees if you decide to leave before the end of that 12-month period. With a fixed-rate contract, your standing charges and unit rates will stay the same throughout the 12-months.

Additionally, they offer a super green tariff. This is also a 12-month contract with no leaving fees. But, unlike the standard fixed-rate contract, carbon offsetting is utilised to make sure the gas and electricity used are carbon-neutral, making it their greenest tariff option.

The electricity that Octopus Energy supplies comes from completely renewable sources. Not many brands offer 100% green gas and electricity, so if you want to be more ec0-friendly, Octopus is one of your best options.

Variable-rate contract

Their variable-rate contract, called Flexible Octopus, uses only 100% green electricity. When you choose Flexible Octopus, it means your energy prices can change depending on wholesale energy costs.

If there is a price change, you'll always be given 30 days notice. You can also switch to a fixed-rate tariff whenever you wish to keep your energy costs stable for 12 months.

There aren't any fees for switching to a different tariff or any penalties if you wish to leave Octopus Energy, regardless of which tariff you're on.

Deemed or out of contract rates

A deemed contract is a contract between you and Octopus Energy that you haven't actively agreed on. This may happen because:

  • You have moved into a house that already has its energy supplied by Octopus, and you haven't switched to a new company.
  • You've come to the end of your fixed-rate contract, and you haven't moved to a new tariff.

The price you pay for a deemed contract is usually not as affordable as a variable or fixed-rate contract, so it's advisable to change once you realise you're being charged deemed rates.

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Additional Octopus Energy business contract information

Here's some additional useful information if you want to open a business energy contract with Octopus.

  • The energy prices for their fixed-rate tariffs are set for a full 12-months. This means you'll know exactly what your business will be paying.
  • Customers with electric cars can charge their vehicles using their Octopus Energy account.
  • They have begun to roll out smart meters. If you already have a smart meter with the "Secure" logo on the front, Octopus Energy will be able to link to it.

Pros and Cons of switching to Octopus Energy services

Our review of Octopus Energy wouldn't be complete without taking a look at the pros and cons of switching to their services. Hopefully, this will give you a good idea of whether Octopus is for you.

Pros

  • They are passionate about providing excellent customer service and have received great reviews from happy clients.
  • Their range of tariffs can save money and time.
  • They are an award-winning energy firm and are the first company to have won the Which? Recommended Provider award more than twice.
  • They provide only 100% eco-friendly energy and are approved by the Friends of The Earth.
  • Octopus also offers a specialised tariff for homes and properties with solar panels.

Cons

  • They don't have an official Android app, so managing your bills on your phone may be difficult.
  • The website could have more functions. However, there's an online portal that allows Octopus Energy customers to submit their meter readings, change their details, make one-time payments and even manage house moves.

How to switch your business energy supplier to Octopus Energy

If you'd like to switch business energy suppliers, the good news is that it's a straightforward process to change to Octopus.

  1. Obtain a quote: Simply answer four quick questions, and you'll be provided with the best prices.
  2. Sign up: Once you've been given a quote, you can continue through the site and create your Octopus account. You'll be asked for a few essential details, and then your account should be set up in less than 5 minutes.

Once you've done that, it typically takes 17 days to switch you over fully. Octopus will handle everything else, you won't need to contact your previous supplier, and they'll keep you fully updated every step of the way. Take a look at our business electricity page for more information.

Frequently Asked Questions

With its great customer service and completely green gas and electricity supply, Octopus is one of the best renewable energy brands available. They also offer fair and transparent pricing and aim to make things as straightforward as possible.

With multiple awards from Which?, Uswitch, and the British Renewable Energy Awards, it's easy to see how they've grown to become so popular with customers.

Not only that, but it's the only gas and electricity company where you may get to speak to the boss. Each day, founder Greg Jackson dedicates time to answer customer queries.

If you need to contact Octopus, you can do so in a number of ways. If your enquiry isn't urgent, you can email them at hello@octopus.energy or give them a call on 0808 164 1088.

Additionally, they answer enquiries via social media, including Facebook and Twitter. They also have a library of FAQs and a detailed help section to assist you with your specific problem.

Switching to a new energy brand is a great way of saving money on your electricity and gas bills. None of their tariffs have exit fees, and if you choose a variable rate, they'll always give you 30 days notice of any price changes to avoid any unpleasant surprises.

Which? also recognises Octopus as one of the most affordable eco-friendly energy suppliers, and they believe in sustainable and fair pricing.

Octopus Energy has become renowned for its exceptional customer service, scoring an impressive 4.8/5 out of 60,000 reviews on TrustPilot. Only 3% of the reviews gave a bad review, ranking them 5th out of 76 energy brands on TrustPilot.

Overall, their customer service is one of the best in the energy market. They've also been awarded "Supplier of the Year" status multiple times.