Octopus Energy tariffs
Octopus energy has a myriad of energy tariffs on offer to both the business and residential consumer. For our comparison we are looking at the fixed and variable tariffs they have on offer and how they compare to the smaller and larger energy providers in the UK. What we want to know is do they have any good cheap energy deals that will translate to lower bills.
So according to our list of the cheapest energy suppliers Octopus Energy is listed 35 out of 55 meaning that there cheapest available tariff is more expensive than 34 other cheap tariffs. So if you are looking for cheap domestic energy then you are not going to get it from Octopus. However for business energy Octopus has some of the cheapest business energy deals on the market.
They do have a number of tariffs, a large number of tariffs but they are not all available through energy comparison sites so we will focus on their best offerings.
Octopus 12m Fixed tariff
Octopus Fixed is their 12 month fixed rate tariff and like Outfox the Markets fixed tariffs they do not charge an early exit fees which means that you can switch to a cheaper tariff at any point without any repercussions.
At the time of writing Octopus energy is showing their 'OctopusFIxed' tariff as costing £917.48 or £76.46 a month. Our cheapest energy supplier (May 2020) tariff is Yorkshire Energy variable costing £743.23 (£61.94 a month) which is £174.25 cheaper per year. In fact looking at the top 10 cheapest tariffs available that month they are still over £100 more expensive than ESB's Brighter Future Digital 12 v14 tariff.
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Super Green Octopus
The 'Super Green Octopus' is essentially the same as their Octopus Fixed tariff except you pay extra on your gas usage to have it offset through their carbon offset partner Renewable World a Brighton based charity.
Essentially the extra 0.399p per kWh (2.961p kWh rather than 2.562p kWh) goes towards replacing dangerous and polluting electricity generation with clean renewable energy in places like Kenya and Nepal.
Super Green Octopus works out at £965.36 a year or £80.45 per month, about £68 a year more expensive for the average household compared to their fixed tariff.
Their variable tariff 'Flexible Octopus' currently shows up as more expensive than their 12 month fixed offering. Generally variable tariffs are cheaper and you pay a bit more for the privilege of having a fixed price for your energy for 12 months.
The quote on their 'Flexible Octopus' tariff came out at £997.46 a year (£83.12 a month). It works out to be about £80 more expensive a year than the fixed tariff which doesn't sound very tempting since their fixed tariff has no early exit fees. You'd be a real fool parting with the extra money to choose this tariff.
Table of Octopus Energy tariffs
|Tariff||Electricity daily standing charge||Electricity pence per KWh||Gas daily standing charge||Gas pence per KWh|
|Super Green Octopus||21.672||15.0255||17.85||2.961|