Octopus Business Energy Reviews, Prices & Tariffs
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Octopus Energy is one of the UK’s greenest energy suppliers, a subsidiary of the Octopus Group.
The company has more than 3.5 million customers – both domestic and commercial – across the UK. This gives them a market share of over 7%. Octopus Energy prices are luring many customers, as is their reputation for efficient customer service and effective green tariffs. The revenue of the company is over £4.2 billion a year, as of 2022. Their renewable energy infrastructure is thought to be worth several billion pounds.
The company has made a considerable investment in the rollout of smart meters across the UK and offers a wide range of tariffs and innovative services for business customers, including electric vehicle charging points. Part of Octopus Energy’s revenue is derived from licensing its CRM software to other energy brands, including nPower.
A Guide to Octopus Business Energy
Led by CEO and founder Greg Jackson, Octopus Energy is a major investor in green and renewable energy.
They are one of Europe’s fastest-growing companies and as well as their operations in the UK, also have business interests in
Germany, the US and Australia among others.
- In 2018, Ofgem appointed Octopus Energy to take on the customers of failing energy supplier Gen4U. They also took on the customers of Iresa after they also ceased trading, as well as the customers of Affect Enrgy.
- In 2019, they took on the customers of GB Energy and Flow Energy, as well as Midcounties Co-Operative.
- In 2020 Octopus grew further when it acquired the residential customers of Engie Energy.
- In 2021, Octopus acquired 580,000 customers from Avro Energy.
- 2022 saw additional growth for Octopus as they acquired Bulb Energy from special administration, gaining them 1.5 million customers that as of April 2023 are being migrated to Octopus.
- 1.5 million Bulb customers fully migrated over to Octopus
- 94% of Bulb employees are now at Octopus
- 75% of Bulb customers were happy about the migration process
In 2023, M&S Energy exited the energy market, and on April 1 2023, 60,000 M&S Energy customers were transferred to Octopus Energy.
Octopus Energy has a 4.8 out of 5-star rating (deemed ‘Excellent’) on the consumer review site Trustpilot, based on over 61,000 reviews.
Octopus Business Energy Prices & Tariffs
Octopus Energy offers a range of flexible and fixed-rate business energy tariffs. The latter provides certainty for businesses when planning their utility obligations over the long term. Octopus Energy tariffs are all 100% renewable electricity, and provide opportunities for gas supply to be carbon offset. Gas tariffs offered by Octopus Energy are equivalent to the domestic tariffs available.
This energy supplier also offers other specialist services for businesses, including electric vehicle investment, EV charging points and solar power development.
Octopus Energy Business FAQs
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Who Owns Octopus Energy?
Octopus Energy is majority-owned by Octopus Group, one of the UK’s leading investors in new energy technology. The company was established in 2015. One of the co-founders of the company, Greg Jackson, is the current CEO.
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How Can I Contact Octopus Energy? (Business Customers)
Business customers can contact Octopus Energy via email at: [email protected].
Alternatively, you can give them a call on 020 3389 5613. Opening hours are Monday – Friday 9 am – 5 pm or Friday 9 am – 4 pm.
If you want to write to the Octopus Energy head office the address is:
Octopus Energy,
2nd Floor,
UK House,
164-182 Oxford Street,
London
W1D 1NN
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Is Octopus Energy 100% Renewable?
All of Octopus Energy’s tariffs are marketed as 100% green electricity, customers can also opt for carbon offset gar tariff charges. The company is also investing in renewable energy generation for the future, they are currently one of the largest investors in solar and wind power in Europe.
Octopus Energy’s sister company, Octopus Renewables manage more than 300 renewable energy projects which combined generate two terawatt-hours of electricity each year. The current strategy of the company is to provide support and sales for a wide range of solar, hydro and wind providers across the UK. They are also the first UK company to operate a solar export tariff for businesses.
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Have Octopus Energy Won Any Awards?
Octopus Energy has won a prize from the Renewable Energy Association for the last three years for the company that has done the most to advance UK renewables.
Octopus Energy has one more customer service award than any other UK energy supplier. In 2021, Which? magazine named them as a Recommended Provider, an award they have won for several years.
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What Is Octopus Energy's Cancellation Policy?
You need to inform Octopus Energy if you want to cancel your business account. If you cancel your Octopus Energy tariff after you’ve come on supply and before your contract end date, they can keep some, or all, of the advance payment to cover any outstanding debt on your account. They can also use this process to cover any additional costs arising from early termination.
At Business Energy we can advise you on finding the cheapest and greenest tariff for your business energy needs. Compare business energy tariffs today.