Octopus Energy Referral – £50 Bonus When Switching
UPDATED NOVEMBER 2023
Hi there! This web page entitles you to £50 free credit when you switch to Octopus Energy using my referral code. All you need to do is sign up via my Octopus Energy referral link and you will benefit from £50 worth of free credit on your bill. If you are a business customer, you’ll get £100 credit on your bill when you join Octopus Energy via my referral link code. Find out more below.
How to Get Your Octopus Energy Referral Code Link Bonus
The Octopus Energy referral link is a quick and easy way to save money, both upfront from the £50 bonus you get when you sign up as a new customer, and in future from the regular savings you can make on your energy bills.
As a loyal and longstanding customer of Octopus Energy myself, I can share with you my Octopus Energy referral link which entitles you to £50 of free credit on your bill.
All you need to do is click on my referral link above and follow the instructions on the Octopus Energy website. The rest is completely automatic; once signed up just wait a few weeks and enjoy the free credit that will automatically be added to your energy bill. It’s that easy!
Octopus Energy Tariffs
As the UK’s most awarded energy supplier, Octopus Energy says it is doing energy better – for customers and the environment. The three tariffs below have been identified as some of the more popular energy tariffs from Octopus Energy.
With Octopus Energy’s flexible tariff, you’ll get access to 100% green energy that’s tied to wholesale prices and updated in line with fluctuations in the wholesale prices of electricity and gas. This means that when wholesale prices drop so do your bills. This is not a fixed price tariff but it is still covered by the energy price cap.
The next generation tariff for electric and hybrid plug-in vehicle charging, providing EV energy from 2.4p per mile. Hands-free smart charging which offers 6 hours of cheap energy every night. With the Octopus Energy mobile app, you can even set how much you’d like to charge up and by what time.
Octopus Go offers super cheap electricity between 00:30 – 04:30 every night. Great for electric vehicle owners and households who use energy at night. Fill up your car for the tenth of the price of a traditional car and keep your fuel costs around 3p per mile. All you need is a smart meter and home EV charger.
Octopus Energy New Customer Switching Bonus
If you’ve found this page through a Google search then you are probably looking for information on the Octopus Energy referral bonus. As an Octopus Energy customer myself, I have been a strong advocate for the company thanks to their excellent customer service and fair pricing.
If you’re considering switching to Octopus Energy then it should please you to know that switching is super simple and only takes a few minutes of your time. Firstly, you just need to enter your details into the Octopus website. But an important reminder at this point – if you want to benefit from £50 of free credit on your bill then you can sign up through my Octopus Energy referral link.
Octopus Energy in the Fight for Fairer Prices
With turmoil across the energy market right now, it’s great to know that Octopus Energy is actively fighting for fairer energy prices for consumers. In the news recently, the company announced that it was working with the National Grid on a new way to help consumers save money on their energy bills. One proposal was the scrapping of VAT on energy bills, along with an initiative to boost energy supplies in the UK.
Octopus also recently announced a new ‘Fan Club’ tariff designed to help customers get cheaper energy bills if they live near wind turbines. I recently received an email from Octopus Energy about these initiatives which clearly outlines the fossil fuel crisis, including details of existing government support (more up0to-date info on this below) and the various reasons for the UK’s energy price increases.
For customers seeking more financial support to help with the rising cost of energy bills, Octopus Energy recently announced its Octo Assist scheme, a £15 million customer help fund and collection of support schemes designed to give extra help to customers most in need. This includes direct financial support and grants for those in need, standing charge waiver for the 100,000 customers in greatest need, and personalised account help such as payment plans and credit. Click here to find out more.
Octopus Energy’s 100% Renewable Energy Promise
As most of us already know, climate change is hurting our planet and our environment. Octopus Energy already supplies customers with 100% renewable energy, so making the switch will help to reduce your carbon footprint as well as potentially save you money on your energy bills.
Just to reiterate, you can use my Octopus Energy referral link to get an energy quote and benefit from £50 credit on your bill when you sign up. The credit is normally added AFTER your first direct debit payment has been made to Octopus after you’ve made the switch.
Electric Blanket Scheme from Octopus Energy
In February, Octopus Energy announced that it would continue its fantastic initiative aimed at helping customers by giving away 10,000 free energy-efficient electric blankets to the most vulnerable customers and those in need. The scheme, which was open to applications at the time of writing, has already received around 100,000 applications. To find out more or to apply for an energy efficient electric blanket, contact Octopus Energy directly or buy your own energy efficiency electric blanket from retailers like Amazon. One of the most popular electric blankets on sale is the Silentnight Comfort Control blanket, starting at around £35 for a single bed and £40 for a double.
Octopus Energy says that a typical home could save £300 by using an electric blanket to keep warm. The calculations are based on the average cost to heat an entire home for a day (around £3-4) compared to the cost of running an energy-efficient electric blanket (just 2-4p per hour).
For more information on this great initiative, visit the Octopus Energy blog page.
Payment Options with Octopus Energy
As with most good energy suppliers, Octopus Energy provides a range of payment options for customers to settle their energy bills. The most common payment method is Direct Debit, and Octopus Energy is fairly flexible with how they approach this in terms of allowing customers to adjust their Direct Debit payment amount within their online billing platform.
Provided that you make the adjustment at least a few working days before your payment is due you can normally change your monthly payments to suit your needs (as long as you don’t owe Octopus money). The same rule applies to the payment date which can be adjusted in the Octopus Energy online billing platform.
Choosing a Fixed or Flexible Energy Tariff
There’s been loads of debate lately about whether customers should choose a fixed or flexible energy tariff. On the upside, fixed tariffs provide peace of mind that your energy bills won’t increase for a set time period – usually twelve months. With Octopus Energy, you can fix for up to twelve months or use the Flexible Octopus tariff where energy prices fluctuate daily based on the wholesale price of gas and electricity at the time.
It’s a bit of a gamble as to what you should choose, but considering that energy prices are at an all-time high right now, I have decided to remain on the Flexible Octopus tariff (for now!). Having said that, even if you choose the fixed tariff, which provides Octopus customers with 100% renewable energy, there are no exit fees so it’s easy to switch back.
Recent advice from the Money Saving Expert website run by Martin Lewis says average energy bills have fallen around 7% since the beginning of October 2023 for those on standard tariffs. The latest advice suggests that you should review your current position in regards to energy supply and tariff before changing energy supplier.
With this in mind, Money Saving Expert says that if you want peace of mind then it’s best to choose a fixed energy tariff but you could still make a saving by not fixing as long as energy prices continue to fall as they have been doing in recent months.
As far as supplier prices are concerned, at the time of writing Money Saving Expert says that Octopus Energy’s Loyal Octopus 12M energy tariff is 1% less than the price cap, while the tracker tariff if considerably less but comes with the risk that your prices are not capped and may increase.
The Money Saving Expert website also has a super helpful ‘Should you fix energy? calculator’ which allows you to compare the fixed tariff you’ve been offered against your price-capped standard tariff from October 2023.
The site also has some helpful tools and guides on saving energy, what to do if you’re struggling to pay your energy bill, and an energy price cap calculate to see how much you should or could be paying.
Once again, use my Octopus Energy referral link to get an energy quote and benefit from £50 credit on your bill when you sign up.
Customer Service Benefits of Switching to Octopus Energy
When we moved over to Octopus Energy about three years ago we moved from a large and well-known supplier of energy who were frankly not very caring. Our original energy supplier was a legacy courtesy of the previous tenant of the property we moved in to, so there were no options (initially) about which provider we could choose for our energy.
But after six weeks we were able to shop around for the best energy deal and, after lots of research and deliberation, we decided to move to Octopus Energy because they appeared to be both cheap, reliable and very well reviewed. On Trustpilot the energy supplier has more than 117,00 reviews, 95% of which are (at the time of writing) four stars or higher.
The service provided by the company has been exceptional since day one. Whenever we’ve needed to speak to someone we have emailed Octopus Energy’s customer service team who usually respond within a day.
If you are in any doubt then feel free to take a look at the 100,000-strong list of customer reviews about Octopus Energy on Trustpilot. This is what enticed us to switch to them for our energy supply in the first place.
Energy Price Changes from October 2023
Over the last few months there has been much speculation that energy prices could drop amidst the notable improvement in gas prices as a result of reduced gas demand caused by unseasonably warm weather.
An energy consultancy company called Cornwall Insight originally predicted that the average annual household dual energy bill would fall to around £2,200 from July – about £300 lower than previous predictions. Thankfully, their predictions weren’t far wrong which is great news for consumers like you and me although sadly our bills are still much, much higher than they used to be.
The good news for Octopus Energy customers is that the latest energy price caps should translate into higher-than-average savings partly due to the fact that Octopus is generally very competitive with its pricing.
Whether or not this new lower price cap remains for the long term is something we won’t know until further down the line, as the volatility of gas and electricity prices will most likely continue.
Ofgem’s most recent October 2023 update on energy price caps puts the annual cost of energy for an average household at £1,834 for the year, down from £2,074 in the last quarter and £2,500 in the quarter before that.
On a unit basis the current costs are capped at 27 pence per kWh for electricity and 7 pence per kWh for gas.
Just a reminder that if you are considering switching energy supplier then you can get £50 of free credit on your first bill if you switch using my Octopus Energy referral code 2023.
Octopus Energy Referral Link (£50 Reward)
One of the other great benefits about switching to Octopus Energy is the option to build and grow your own energy referral scheme. For each customer you successfully refer to Octopus Energy, you will get a £50 refer a friend bonus and so will they.
The bonus is applied to your bill after your ‘Refer a Friend’ has become an Octopus Energy customer and paid their first Direct Debit payment.
When you become a new customer at Octopus, you’ll automatically be gifted your own Octopus Energy referral link to share with your friends and family. This is all you need to start your own Refer a Friend scheme. Octopus takes care of all the hard work. All you need to do is share your Octopus Energy referral link to get £50 back on your bill when your friend or family sign up.
It’s important to note that there are some rules on how you can promote your Octopus Energy referral link which include things like not spamming the link on social media or ‘piggybacking’ off of Octopus’s social posts. All fairly obvious stuff but as long as you are fairly and genuinely building a network of referrals then you should be fine.
The screenshot below shows what the Octopus Energy referral link dashboard looks like so you can track the number of referrals you’ve got pending and complete.
Once a referral is complete, you will receive a free £50 credit on your Octopus Energy billing statement and so will the person you referred. Just remember to use my Octopus Energy referral link 2023 if you are a new customer wanting to switch to Octopus Energy.
Save Money with Octopus Energy
In the second half of 2022, Octopus Energy ran a Winter Workout initiative to help customers save money. The theme of the initiative was to help customers reduce their bills by completing a list of small but effective energy saving tasks around the home designed to reduce electricity and gas consumption and wastage.
For me, the most useful tip was reducing the flow of our boiler. This took literally a few seconds to achieve and has reduced our has bills by around 25%. This guide from Octopus Energy demonstrates how to reduce the flow on your boiler. I really would recommend anyone who has a boiler with adjustable flow to try reducing it and see how it impacts your bills.
The main point to note here is that your water may be slightly cooler than normal after you reduce the flow. For us, this wasn’t an issue as the previous temperate was too high to bath or wash in, so reducing it was actually beneficial for us.
Octopus Energy has just announced that they’re launching their second ‘Winter Workout’ this autumn, with prizes for customers who make the biggest energy savings. There’s a tonne of information about it on the Octopus Energy website here. You can also see some of the customer success stories, such as one person who reduced their energy usage by 36kg of CO2 over a 12-week period.
A gentle reminder that if you want £50 of free credit on your bill for signing up as a new Octopus customer, don’t forget to use my Octopus Energy referral link 2023.
Important: Don’t forget to click the Octopus referral link!
Just a gentle reminder that if you want to take advantage of the Octopus Energy referral link to get £50 of free credit added to your first bill, please sign up using my Refer a Friend link.
Unfortunately neither you or I will benefit from the credit if you forget to sign up this way.
If you have any questions or need some help then your best option is to contact Octopus Energy directly. For general support enquiries you should call the Octopus Energy Support Line on 0808 164 1088 or visit the Octopus Energy website support page.
Octopus Energy Referral Link for Business Customers
If you are a business and would like to benefit from a similar offer, use my Octopus Energy referral link and you will get £100 towards your first bill after you sign up. Please remember that the Octopus Energy terms and conditions apply, and you might need to wait a few weeks for the bonus to be applied to your bill.
Smart Metres from Octopus Energy
Octopus is keen to get customers upgraded to the latest smart metres. According to the company, customers with a smart metre pay less for their energy than those who don’t have a smart metre. Octopus also offers smart metre customers free incentives and bonuses like:
- Get cheap or free energy at the greenest times
- Monthly chance to win a year’s free energy
- Double spins on the wheel of fortune game (a game that allows you to spin a prize wheel each time you submit a metre reading)
The more obvious benefits of having a smart metre are the ability to view real-time energy usage, check week-on-week comparisons of energy usage so you can watch your habits over time, and up-to-the-minute energy insights from the latest Octopus Home Mini smart metre.
Octopus Energy says that it now has more than one million customers benefiting from smart metre usage.
Octopus Energy Pricing & Energy Price Cap Info
At the time I first wrote this article in mid-2022 the UK energy price cap was set at around £1,900 per year. This increased again in October 2022 to an astonishing £2,500 per year (60-70% higher than it was the previous October and well over twice what it was in winter 2021).
In May 2022 the government announced that it would provide £400 of support per household through what it calls an ‘energy support grant’. The aim of the grant was to reduce the average household’s energy bill by this amount through a direct payment to the energy companies.
The next energy price cap included both a cap of the unit price for electricity and gas (£0.34 per/kWh for electricity, £0.10 per kWh for gas), plus a payment of £400 for each household in the UK, applied to customer’s energy bills over six months, with a reduction of £66 in October and November, and £67 every month between December and March 2023.
Households on lower incomes also received two additional support payments directly to their bank accounts in July 2022 and again in autumn. These payments were designed to help ease the burden of rising energy prices on struggling households.
Energy prices have thankfully fallen since then, giving much needed relief to households up and down the country.
Octopus Energy was leading the right in pushing for more government support to help consumers in the form of energy price caps or grants. Octopus also provided help and support for customers who were struggling, saying that customers could call Octopus Energy to discuss their individual circumstances for the possibility of “direct financial assistance”.
The Octopus Energy Assist fund was created in 2022 to help those most in need, and offers a number of support mechanisms including:
- Direct financial assistance
- Payment plans
- Free electric blankets over Winter (using electric blankets to stay snug on your sofa can save £400 on your energy bill)
- Loaning thermal cameras to spot heat loss around the home
As ever, Octopus Energy was fair in offering lower energy prices than many suppliers while also providing support for those most in need.
Remember, if you’re looking for £50 of free credit on your bill for signing up as a new Octopus customer, don’t forget to use my Octopus Energy referral link 2023.
Update on the Energy Price Cap for Octopus Customers
On 8th September 2022 the Government announced an update to the energy price cap affecting Octopus Energy customers. For residential energy users, an energy price guarantee was implemented that would typically cost each household around £2,500 per year.
The energy price cap then rose again in January to around £4,200 per year, although this was reduced under the Government’s Energy Price Guarantee (EPG) which promised to pay a percentage of the unit rate of gas and electricity for each household.
As of July 2023, the energy price cap announced by Ofgem capped the unit rate for electricity at £0.30 per kWh and gas at £0.08 per kWh. This meant that a typical UK household was paying around £2,074 per year for both electricity and gas.
Today (October 2023), these rates have fallen to an average of £1,834 per year for a typical household who pay by Direct Debit.
It’s important to note that these price caps aren’t the absolute most you could pay for energy in a year. They are an average cost, calculated by average household use of both gas and electricity across the UK. This means that you could pay more or less depending on your individual circumstances.
According to the Energy Saving Trust, the price cap limits the amount that a supplier can charge for their default tariff. This includes:
- The standing charge (a fixed daily amount you have to pay for energy, regardless of how much energy you use)
- The unit price of electricity and gas (measured in pence per kilowatt hours, or p/kWh).
The energy regulator Ofgem uses a figure of 12,000 kWh as an illustrative figure of the average household’s annual energy use. As I mention above, this number represents a fairly typical household’s energy use for a year although it isn’t an absolute cap on the total amount your household will pay for its energy use over a one-year period.
If you are frugal with your energy use then this amount could be much lower. Conversely, if you are a high user then the amount you pay could be much higher.
Overall, energy bills for the next 12 months should average out at around £2,000 based on typical usage.
Finally a quick reminder for those of you hoping to get £50 of free credit on your bill when signing up as a new Octopus customer, don’t forget to use my Octopus Energy referral link 2023.
How Do I Use the Octopus Energy Referral Code?
If you’d like to switch to Octopus Energy and would also like to benefit from the £50 switching bonus, please remember to sign up via my Octopus Energy referral link. The referral code is added automatically when you click that link and your credit will be applied after you have received your first bill.
Unfortunately if you forget to sign up via this link then you may not be eligible for the offer.
How Much Do I Get For Using the Octopus Energy Referral Code?
As part of the Octopus Energy refer a friend programme you’ll receive £50 of credit on your energy bill after you’ve paid your first direct debit payment. This bonus is typically applied to your account within six weeks of signing up.
For more information or to check the progress of your referral bonus, login to your Octopus account and check the Balance History page.
If you have any questions or issues please contact Octopus Energy direct on 0808 164 1088.