Octopus Energy: Rates, Plans, and Reviews

Octopus Energy rates will vary based on where you live, your plan of choice, and your day-to-day energy usage. Make sure to read each plan’s Electricity Facts Label (EFL) before committing to avoid hidden fees and extra charges.

Octopus Energy is a tech driven electricity provider known for bringing transparency and innovation to the table. Founded in 2016 in the UK, they’ve grown to provide some services  across 9 countries, even making it all the way to Texas in 2020. They have continued to gain a strong reputation for their customer-first and tech driven approach, with a strong commitment to renewable energy, as they offer 100% green energy with all of their plans.

Octopus offers many features that set them apart from other providers:

• App Features: Octopus Energy has an app that allows customers to track their account balance and billing history, as well as monitor their energy usage with detailed insights. It has special perks for those enrolled in Octopus’s smart energy programs, like notifications to use extra energy during “Free Electricity” sessions when renewable electricity generation is high.
• Fan Club: You are able to receive discounted rates when local turbines are spinning. You can get up to 50% off your bills depending on how fast the turbine is spinning. If you have an intelligent octopus plan, you are not able to join this club since its purpose is to allow the people with no smart technology to still have opportunities to save.
• Intelligent Octopus: Gives $10 monthly credit automatically to those enrolled. During high stress periods, octopus will send you a temp hold that adjusts your thermostat by a few degrees for up to two hours. This program only works with certain smart devices, so make sure to check on Octopus’s website to figure out if your smart technology is compatible with Intelligent Octopus
• Octo Grid Boost: Users with rechargeable home batteries can get $40 or more a month. By sending your excess electricity produced by your battery back to the grid, you get electricity buy back at the real time rate. This helps build grid resilience.
• Refer a Friend: If you refer Octopus Energy to a friend using your personal referral link, and they become a customer, both you and your friend will receive $50. There’s no limit to how many people you can refer.

With about 5 million customers across 9 countries, they have gained global recognition and trust regarding their 100% renewable energy, smart-home bundles, and award winning customer service, making Octopus Energy a great option when deciding what provider is right for you.

Customers leave generally positive reviews for Octopus Energy, praising them for their transparent competitive pricing, and responsive customer service. Users appreciate their commitment to sustainability with all their plans being 100% renewable, and their tech forward approach- making users lives easier on a day to day basis. Though their tech forward approach to electricity brings comfort to many customers, some have also expressed issues when technology features don’t work and customer service is not able to answer their questions which tends to result in inaccurate billing.

Overall PowerWizard Score	Rating Scale (1-5)
Overall Score	4.75
Customer Service	4.25
Online Accessibility	5
Product Variety & Options	5

Octopus has multiple  fixed rate plans to accommodate the varying needs of different lifestyles. They offer straightforward plans with competitive pricing and  incentives to reduce energy usage with the  different use of smart home technologies. Whether you own an electric vehicle, a smart thermostat, or none of these, Octopus has a way for you to earn. With all plans being 12 months long, Octopus charges a $150 Early Termination Fee (ETF) if you cancel your service before your contract has ended.

Fixed Rate:

Octopus specializes in fixed rate plans helping you lock in an electric rate for 12 months. They have an “Intelligent Octopus” feature in multiple plans that include added benefits and extra opportunities to save using  smart technology in your homes.

Time-of-Use:

Octopus Energy offers “free electricity” plans, which give customers cheaper rates during off peak hours and charges premium rates during peak hours. In order to benefit from a plan like this, you must be able to shift your energy usage accordingly or else you might end up paying extra that you need to instead of saving money. Octopus Energy provides the Octopus Flex plan, with its cheapest rates from 10pm to 6am during the spring and fall.

Solar Buyback:

For those who wish to maximize their investment on solar panels, a solar buyback plan is perfect for you. Not only are you helping protect the environment with your panels, you’re making money from the excess energy that your solar panels produce.

Prepaid:

For people who want to avoid a credit check, a prepaid plan is the way to go. Instead of monthly bills, you will receive alerts about your balance and usage. Remember that when your balance starts to run low, you will have to add more funds so that your service doesn’t get disrupted.

• AEP Texas Central: Services areas such as Corpus Christi, Laredo, and Victoria
• AEP Texas North: This service area covers Abilene and San Angelo
• CenterPoint Energy: This Utility services Pasadena, Houston, and other surrounding cities
• Oncor Electric: Services areas including Arlington, Dallas-Fort Worth, Killeen, Midland, Odessa, Tyler, and Waco
• Texas-New Mexico Power: Covers areas like Friendswood, Alvin, Angleton, and Texas City
• Lubbock Power and Light: Includes Lubbock

• You value energy providers committed to sustainability with 100% green energy
• You value bill credits for conserving electricity
• You’re interested in incorporating smart technology that makes your experience smoother
• You want credit for excess solar energy your panels produce
• You want easy to use online tools
• You value 24/7 customer service and help