With energy prices still a major concern for UK households, choosing the right supplier matters more than ever. Octopus Energy has grown to become the UK's largest energy supplier with over 8 million customers. But is it actually worth switching to? Here's my honest assessment.
The Short Answer
Yes, Octopus Energy is worth it for most households. They consistently charge less than the price cap, have award-winning customer service, and the £50 referral credit is a genuine bonus. However, your specific savings will depend on your usage and current tariff.
✓ Pros
- Never charged full price cap
- Excellent customer service
- £50 referral credit
- No exit fees on most tariffs
- 100% renewable electricity
- Great app and online account
✗ Cons
- Not always the absolute cheapest
- Smart tariffs need smart meter
- No specific NHS/key worker discount
- Referral must be used upfront
Pricing: How Does Octopus Compare?
Octopus Energy is the only large supplier to have never charged the full Ofgem price cap. For January 2026, the price cap is £1,758 per year for a typical household. Octopus typically charges around £15 less than this on their Flexible tariff, and their fixed tariffs are currently around 5% below the cap.
The £50 referral credit effectively adds another 3% saving on top, making the total first-year saving around 4% compared to a supplier charging the full cap.
Price Cap Comparison (January 2026)
- Ofgem Price Cap: £1,758/year
- Octopus Flexible: ~£1,743/year
- Octopus Fixed: ~£1,670/year
- With £50 referral: Additional £50 off first year
Customer Service
This is where Octopus really shines. They have a Trustpilot rating of 4.8 out of 5 based on over 700,000 reviews. They've been Which? Recommended for 5 consecutive years, the only supplier to achieve this.
Phone calls are typically answered in under a minute, and their UK-based team is known for actually solving problems rather than reading from scripts.
Tariff Options
Octopus offers more tariff variety than most suppliers:
- Flexible Octopus: Variable rate, no exit fees, always below the price cap
- Fixed tariffs: Lock in your rate for 12 months, currently around 5% below the cap
- Agile Octopus: Half-hourly pricing based on wholesale rates (can be very cheap or very expensive)
- Octopus Tracker: Daily pricing following wholesale market
- Intelligent Octopus Go: Cheap overnight rates for EV owners
- Cosy Octopus: Designed for heat pump owners
The App and Online Account
The Octopus Energy app is genuinely useful. You can submit meter readings, track usage, see your bills, and manage your account. If you have a smart meter, you get detailed half-hourly usage data. The interface is clean and easy to use.
Renewable Energy
All Octopus electricity is backed by 100% renewable energy certificates (REGOs). They've also invested billions into renewable energy generation, including wind farms and solar installations across the UK.
Who Might Octopus NOT Be Right For?
Octopus might not be the best choice if:
- You're looking for very niche tariffs (though they have more options than most)
- You want a supplier with physical shops (Octopus is online/phone only)
- You're already on a very cheap fixed deal with another supplier
The Verdict
For most UK households, Octopus Energy represents excellent value. The combination of below-cap pricing, outstanding customer service, no exit fees, and the £50 referral bonus makes them hard to beat. They're not always the absolute cheapest option, but the overall package is consistently strong.
Ready to Try Octopus Energy?
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