Octopus Energy Referral Code 2024

Octopus Energy Referral Code Bonus

If you’ve found this page through a Google search then you are probably looking for information on the Octopus Energy referral code 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 you might be pleased to learn 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 up-to-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

Octopus Energy has been providing free energy-efficient electric blankets to help the most vulnerable customers and those in need. The Octo Assist Fund, which first opened to applications for free electric blankets in early 2022, has distributed more than 60,000 blankets to help vulnerable customers stay warm without cranking up the thermostat. In September 2024 the company announced that it would provide another 20,000 electric blankets to customers in need.

To find out more or to apply for an electric blanket, contact Octopus Energy directly. For those who are not eligible for the scheme, energy efficient electric blankets are available 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 suggests 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 of course, 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 you 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 which provides fluctuating energy prices updates on daily basis. The daily unit rate is based on the wholesale price of gas and electricity at the time.

It’s a bit of a gamble as to whether you should choose a fixed or flexible energy tariff, but considering that energy prices remain near their all-time high right now I have decided to stick with the Flexible Octopus tariff. Having said that, even if you decide to choose the fixed tariff which also provides Octopus customers with 100% renewable energy, you can switch tariffs without penalty (correct at the time of writing – please check the Octopus Energy website for details) at any time during the commitment period.

Recent guidance from the Money Saving Expert website run by Martin Lewis says average energy bills are falling for households on non-fixed energy tariffs. The latest advice suggests that you should review your current position in regards to energy supply and tariff before changing energy supplier or energy tariff.

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 to bear in mind that you could make savings 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, Money Saving Expert says that Octopus Energy’s Tracker energy tariff has been about 31% cheaper than the price cap for the last 12 months. It does also say that, while the tracker tariff is considerably cheaper, it comes with the risk that your prices are not fixed and may increase above the energy price cap.

The Money Saving Expert website also has a super helpful ‘Should you fix energy? calculator’ which allows you to compare the fixed dual-fuel energy tariff you’ve been offered against your existing or non-fixed tariff.

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 five 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 seemed to be the cheapest, highly reliable, and very well reviewed by customers. On Trustpilot the energy supplier has more than 300,000 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 300,000-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 Increases October 2024 (and beyond!)

Over the last few months there has been a lot of speculation that energy prices could drop. According to various news sources, last year’s relatively mild winter helped to reduce energy usage and bring prices down – but only slightly.

Energy consultancy company Cornwall Insight predicts that the average annual household dual energy bill will rise slightly from January 2025 following a recent 10% price hike in October 2024. But the company notes that recent geopolitical tensions could add to pricing pressures, potentially taking our energy bills back to the record highs we saw in 2022.

Predictions from MoneySavingExpert suggest that prices could change as follows:

• January 2025: 1% increase
• April 2025: 1% decrease
• July 2025: 2% decrease

Whether or not today’s high prices will remain for the long term is something we simply won’t know until further down the line, but the volatility of gas and electricity prices does look likely continue. The good news for Octopus Energy customers is that average costs are around 5% less than the current price cap (at the time of writing).

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.

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 2024 if you are a new customer wanting to switch to Octopus Energy.

Save Money with Octopus Energy

The Octopus Energy Winter Workout initiative is a scheme run by Octopus to help customers save money.

The theme of the initiative is 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 is 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 water temperate was too high to bath or shower in, so reducing it was actually beneficial for us.

Octopus Energy usually announces its ‘Winter Workout’ each 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 customer 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 2024.

Important: Don’t forget to use the Octopus referral code!

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 & Support

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 their all-time highs in 2022 but they are still edging towards the £2,000 per year mark.

Octopus Energy has consistently led the fight in pushing for government support to help consumers in the form of lower energy price caps or grants. Octopus also continues to offer help and support to customers who are struggling to pay their bills, 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, offering 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 is fair in offering lower energy prices than many suppliers while also providing support for those 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 2024.

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.

In 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.

In October 2023, these rates fell to an average of £1,834 per year for a typical household that pays by Direct Debit.

Then in January 2024 the price cap rose slightly to £1,928 per year.

Thankfully for consumers, the April 2024 price cap fell by around 12%, meaning that the average UK dual-fuel household would reduce by about £240 of the course of a year compared with the previous quarter.

In July 2024 the price cap fell by another 7%, taking the average annual dual-fuel energy bill down to around £1,570.

Since October 2024, energy prices have sadly increased by around 10% but are still much lower than they were in 2022. Today’s price cap sits at around £1,700 per year for the average household.

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 2024.

Frequently Asked Questions

What is the Octopus Energy Referral Code?

The Octopus Energy referral code is a scheme run by energy supplier Octopus Energy to reward new and existing customers when they refer new customers to the supplier. A referral code, which is actually a sign-up link containing a unique code, almost always consists of two words and a number, and is shared by existing Octopus customers to new customers so they can get a referral bonus when they switch to Octopus Energy.

Where Can You Find the Octopus Energy Referral Code?

The Octopus Energy referral code is provided by an existing customer of Octopus Energy. To get access to a referral link code, you must know someone who is an existing customer of Octopus and ask them to login to their account, scroll to the bottom of their private account dashboard and share with you their personal referral link URL which consists of two letters and a number.

How Do You Use the Octopus Energy Referral Code?

Once you’re ready to switch to Octopus Energy, the Octopus Energy referral link can be used simply by pasting it into your browser’s address bar and following the on-screen instructions. The referral link is automatically tracked after you click it so that when you sign up to become an Octopus customer you will get a £50 credit bonus after your first bill.

How Much Do You Get For Using the Octopus Energy Referral Code?

You’ll automatically receive a £50 bonus credit on your energy bill after you’ve paid your first direct debit payment. This is typically applied to your account within six weeks of signing up (but usually only after your first Direct Debit has been paid). You can check the progress of your referral bonus by logging in to your Octopus account and viewing your personal Balance History page.

Who Do You Contact if There’s a Problem with Your Referral Code?

If you have any issues or questions about your Octopus Energy referral code bonus you should speak to Octopus Energy direct on 0808 164 1088 or by emailing their customer services team at hello@octopus.energy. Their opening hours are 9am to 5pm Monday to Thursday and 9am to 4pm on Friday.

Is There an Octopus Energy Referral Link?

The referral link scheme from Octopus Energy is the same as a referral code. To benefit from using this new customer sign-up bonus, new customers MUST sign up to Octopus Energy via the referral link provided by another Octopus Customer. At the moment there is no facility to use a promotional referral code with Octopus Energy.

Can You Refer a Friend Using the Octopus Energy Referral Code?

Yes. All you need to do is login to your Octopus Energy account and scroll down the page to the section called ‘Refer your friends’. From here, use the ‘copy link’ button to copy your personal Octopus Energy referral code and share it with your friends and family. You’ll both receive the £50 Octopus Energy referral link bonus on your next bill after the first Direct Debit is paid.

Is There an Octopus Energy App?

Yes, you can download it from either the Apple App Store or the Google Play Store. The app offers a streamlined solution for keeping track of your credits and earnings.

Key features of the app include:

• Track Your Balance: Get a clear view of your account balance, spending and reward history. You can even see how much you’ve accumulated from referrals. The app lets you monitor pending credits and ensures you don’t miss out on any benefits.
• Access Octoplus Rewards: Octoplus is the rewards programme for smart meter customers. In the app you can get exclusive benefits like free cinema tickets, discounts and prizes.
• Troubleshooting and Assistance: If you encounter a problem or issue, the app provides a dedicated customer help portal for technical and billing issues when an Octopus support specialist can address and resolve your concerns swiftly.