What is Octopus doing to help in the crisis?
Our biggest priority is making green energy affordable and accessible to all - especially, during an energy crisis. When prices were highest, we used £150 million from our own reserves to keep bills lower by swallowing more of the cost of power (our Flexible Octopus tariff was £50 below the price cap for loyal customers – the cheapest of any major supplier). We've consistently been the only large energy supplier to always charge below the price cap.
We have long been vocal about opposing standing charge increases, and have always kept them as low as possible, as well as offering a 4% discount on standing charges for certain tariffs. So far we have also offered 100,000 customers in need the ability to apply for a 6-months long standing charge holiday.
For customers struggling the most, we created Octopus Assist, a £15 million support fund which has now been increased to £30m to provide relief to those facing financial challenges. From offering free electric blankets to loaning out free thermal cameras to help customers find draughts around their home and supplying our infrared smart-phone cameras to see where heat is escaping, we have invested where it matters.
We've also invested in innovative programs like Octoplus Saving Sessions, where we provide customers with the ability to optimise their energy usage during specific times, ensuring they benefit from cheaper rates. Our Winter Workout and Power Ups schemes have also allowed our customers to save money and optimise their energy usage.