Everything You Need to Know About Octopus Energy
When was Octopus Energy founded?
Octopus Energy was founded in August 2015 and began trading in December 2015 by its parent company, Octopus Capital Limited. Although relatively new compared to the big six, the company has seen rapid growth.
Where is Octopus Energy based?
Octopus Energy is headquartered in London and has offices in Warwick, Brighton and Leicester in the UK, as well as in Australia, the USA and Germany.
How has Octopus Energy acquired its customers?
Octopus Energy has acquired customers by purchasing other energy companies, inheriting customers from other energy companies that have ceased trading, and replacing other energy companies as the energy supplier for certain brands such as M&S and Coop. This has allowed Octopus to grow quickly and reach over 1 million UK customers.
Octopus Energy has had an energy procurement deal with Shell, inherited customers from Iresa Limited after it ceased trading, 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, and purchased the GB Energy and Flow Energy brands. In 2020, Octopus launched London Power, purchased Engie UK, and Upside Energy.
What energy companies has Octopus Energy acquired?
Octopus Energy purchased Affect Energy in 2018, GB Energy and Flow Energy in 2019, and ENGIE UK and Upside Energy in 2020.
What markets does Octopus Energy serve?
Octopus Energy provides energy services in the UK and Germany.
Is Octopus Energy a unicorn?
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.
Who is the CEO of Octopus Energy?
Octopus Energy was founded by Greg Jackson and Pete Miller in 2015. Greg Jackson currently holds the position of CEO.
h2>Contacting Octopus EnergyOctopus Energy can be contacted by phone (0808 164 1088) or email ([email protected]). If you would like more information about how to contact Octopus Energy, you can visit their contact page on their website.
What is Octopus Energy’s mission statement?
“We’re doing energy better — for you and for the environment.” – Source.
How green is Octopus Energy?
Octopus Energy invests heavily in solar energy through its parent and sister companies Octopus Group and Octopus Renewables. It supports a range of renewable projects, encourages households and businesses to generate and sell energy back to the grid, invests in cutting-edge low-carbon technologies, and has started the Future Energy Research Centre. The company is also working to counteract worldwide carbon emissions by planting trees and has special tariffs designed for electric car owners.
Can I refer a friend to Octopus Energy?
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 between them, £50 each!
Is Octopus Energy good value for Money?
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, suggesting it is good value for money. Octopus is incredibly transparent with their pricing
Does Octopus Energy supply gas?
Yes. Although Octopus has aspirations of focusing on a 100% renewable electric smart grid, the reality is that many households still need gas, so Octopus supplies it.
Does Octopus Energy supply electricity?
Yes. The company’s main focus is to generate and provide 100% renewable electricity.
Does Octopus Energy offer smart meters?
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 about Octopuses' smart meter roll-out
Which tariffs does Octopus Energy offer?
Octopus Energy offers a competitive array of tariffs, including the Octopus Tracker, Super Green Octopus, Octopus 24M fixed, and Flexible Octopus.
FAQ: Understanding Energy Price Fluctuations
Why do Energy Prices Fluctuate?
Energy prices are subject to a wide range of factors, such as the cost of wholesale gas and electricity, as well as demand and renewable generation.
Is Octopus Energy Cheaper than British Gas?
Octopus Energy's standard variable tariff is approximately £121 cheaper than British Gas. According to the Which? Annual Customer Survey, British Gas ranked 18th out of 25 and received 2 out of 5 stars for value for money, while Octopus Energy achieved 4 out of 5 stars.
Is Octopus Energy Cheaper than EDF Energy?
Although we do not have access to a direct price comparison, EDF was ranked 20th out of 25 in the Which? Annual customer survey, with a value for money rating of 2 out of 5 stars, compared to Octopus Energy's 4 out of 5 stars.
Is Octopus Energy Cheaper than E.ON UK?
E.ON UK ranked 22nd out of 25 in the Which? Annual customer survey, with a value for money rating of 2 out of 5 stars, compared to Octopus Energy's 4 out of 5 stars.
Is Octopus Energy Cheaper than Npower?
Npower ranked 25th out of 25 in the Which? Annual customer survey and received 1 out of 5 stars for value for money, while Octopus Energy received 4 out of 5 stars.
Is Octopus Energy Cheaper than Scottish Power?
Scottish Power ranked 24th out of 25 in the Which? Annual customer survey and received 1 out of 5 stars for value for money, while Octopus Energy received 4 out of 5 stars.
Is Octopus Energy Cheaper than SSE?
Research showed that Octopus Energy is cheaper than SSE. A typical UK household would pay £81.39 per month with Octopus Energy, compared to £88.89 with SSE for the same gas and electricity usage. The Which? Annual customer survey also ranked SSE joint 22nd out of 25 energy companies, with value for money rated 1 out of 5 stars, compared to Octopus Energy's 4 out of 5 stars.
Is Octopus Energy Cheaper than OVO?
Research showed that Octopus Energy is approximately £8 cheaper than OVO per month. In the Which? Annual customer survey, OVO achieved a joint 8th position out of 25, with 3 out of 5 stars for value for money, compared to Octopus Energy's 4 out of 5 stars.
Is Octopus Energy Cheaper than Bulb?
Bulb achieved a joint 10th position out of 25 in the Which? Annual customer survey, with 3 out of 5 stars for value for money, compared to Octopus Energy's 4 out of 5 stars.
Is Octopus Energy Cheaper than Shell Energy?
Shell Energy ranked 17th out of 25 in the Which? Annual customer survey, with 3 out of 5 stars for value for money, compared to Octopus Energy's 4 out of 5 stars.