Most homes could save with Octopus

We're on a mission to make green energy cheap.

Most homes in Britain are paying for energy at the price cap rate. We're the only large supplier to price its standard tariff meaningfully below the Ofgem energy price cap, a decision that has saved our customers tens of millions of pounds in the last 12 months.

If you're paying standard variable rates with any large supplier for your gas, your electricity, or both – you'll save money if you switch to Octopus.

Here's how we do it:

• We keep our variable tariff, Flexible Octopus, below the Ofgem Energy Price Cap. We’re the only large energy company priced meaningfully under the cap, and we've done it since the cap was introduced in 2019.

• We do this by setting our standing charges lower. High standing charges make it particularly hard for energy conscious homes to save on their bills, so we’ve taken a stand against the recent increases. Our Flexible Octopus standing charges are 6.6% lower for gas and 3.4% lower for electricity than the price cap, and we give standing charge holidays to customers who need it most (correct as of June 2025).

• Our discounted standing charges also mean if you're currently paying price cap prices, you’ll save on your energy bills, regardless of whether you're a low user, high user, or somewhere in between.

• Beyond that, our smart tariffs help hundreds of thousands of customers save by using energy when it’s greenest. Take Octopus Tracker. The price changes every day following the wholesale market, and over the past few months on average, rates have been 30% cheaper than the price cap. Or Intelligent Octopus Go, which gives EV drivers a cheaper overnight rate for charging on the greenest energy.

• Customers who need it most get extra help from our £40m Octo Assist fund, from free electric blankets to keep warm for less (saving a typical home £300 over winter), to thermal cameras to help people spot heat loss in leaky homes, to direct bill support grants.

• Rewards and extra benefits give customers even more value. With Octoplus, our unique rewards scheme, a savvy Octopus customer can claim hundreds of pounds worth of freebies and bargains a year, including free hot drinks, delicious takeaway vouchers and exciting giveaways.

• Octoplus customers also get access to Saving Sessions, where they can earn Octopoints for using less electricity when the grid is stressed or more when there are plenty of green electrons in the wires.

We firmly believe customers shouldn’t have to switch every year to get a great deal. That’s why we focus on great value for the long term.

The average Octopus customer (that's a household using 3,720kWh of electricity and 15,271 kWh of gas per year) who fixed with us in 2016 and stuck on Flexible Octopus ever since would’ve saved £1,456 by now compared to another large legacy supplier.

You can read more here about how we've fought to make energy prices fairer for all over the ten years we've been in business.

The numbers behind the savings:

• 29 million households are connected to the electricity grid in Britain. 22 million households are connected to the gas grid [ Source: Energy Networks]

• Of those, 7.6 million are Octopus electricity customers and 6 million are Octopus gas customers already. [Source: Internal Octopus data]

• Of the remaining 21.4 million electricity households Ofgem’s Retail Market Indicators show 13 million (60%) are supplied by the other large suppliers on their default tariff.

• Of the remaining 16 million gas households, 11 million (68%) are supplied by the other large suppliers on their default tariff. The other large suppliers are British Gas, E.ON, EDF Energy, OVO Energy & Scottish Power. Both Shell Energy and Bulb customers are now Octopus customers.

• Ofgem’s Retail Market Indicators show Octopus Energy has the cheapest default tariff of any large supplier.

The overwhelming majority of small and medium suppliers also charge within a few pounds of the Default tariff cap for their default tariffs, but as public information is scarce for customer numbers and tariff choices, we’ve excluded them from this calculation.

• Octopus Energy’s 12M Fixed tariff is also cheaper than the Default tariff cap. While prices change regularly, a typical dual fuel annual quote is £1,731 as of 04/03/2025. (Source: Internal Octopus data)

• This means >60% of homes would pay less on their annual bill if they switched to Octopus Energy.

Britain's number 1 choice for energy

From the 1st of October 2024, Octopus Energy is the company with the most household energy (defined as the sum of electricity and gas) accounts in Great Britain.

As of the 31 October 2024, Octopus Energy became the leading supplier of household energy accounts (defined as the sum of electricity and gas) in Great Britain. The company served 12.9mn household energy accounts registered as live on supply, representing a 23.7% share of the available market. This share is 0.6 percentage points higher than the company with the second-largest share of household energy accounts.

Where the data comes from

The data comes from the Cornwall Insight Domestic Energy Market Share Survey, which tracks changes in key measures of supply competition. This includes the numbers of domestic electricity, gas and dual fuel accounts held by the competing suppliers in the 14 electricity distribution regions of Great Britain, and also in aggregate across the jurisdiction. The survey is based on detailed research by Cornwall Insight using a wide variety of industry and proprietary sources.