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Octopus Energy Announces £148 Savings for Customers Amid Rising Energy Costs
Octopus Energy confirms £148 cheaper bills for customers - but not everyone
Image: Birmingham Live
Octopus Energy is set to save its fixed tariff customers £82 annually compared to the upcoming price cap, while average savings over the past year reach £148. The company continues to support customers struggling with bills through its £40 million Octo Assist fund, but urges government action on energy prices.
- 01Octopus Energy has saved customers £166 million since the last energy crisis by pricing below the cap.
- 02The fixed tariff is priced at £1,780, providing an £82 annual savings compared to the July price cap.
- 03Customers using the Octopus Tracker tariff saved an average of £148 over the past year compared to the standard variable tariff (SVT).
- 04The Agile Octopus tariff updates rates every 30 minutes, allowing for significant savings when energy demand is low.
- 05Octopus's Octo Assist fund has supported over 110,000 customers, providing financial relief through various measures.
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Octopus Energy has announced that its fixed tariff customers will save £82 annually compared to the new price cap set to take effect in July. The company's fixed tariff is priced at £1,780, and it has consistently undercut the price cap, saving customers a total of £166 million since the last energy crisis. Over the past year, customers on the Octopus Tracker tariff saved an average of £148 compared to the standard variable tariff (SVT). Additionally, the Agile Octopus tariff, which adjusts rates every 30 minutes based on wholesale prices, has enabled customers to save even more. The company also emphasizes its commitment to helping those in financial distress through its £40 million Octo Assist hardship fund, which has already aided over 110,000 customers. Despite these efforts, Greg Jackson, CEO of Octopus Energy Group, calls for significant government action to address the ongoing impact of global gas prices and reduce electricity costs for families and businesses.
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Octopus Energy's pricing strategy directly benefits millions of households facing rising energy costs, providing significant savings and financial support.
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