Octopus Energy Business: Electricity & Gas Tariffs & Reviews  

Octopus Energy was founded in 2015, making it one of the youngest energy suppliers on the market. That aside, it’s one of the largest. Today, Octopus isn’t quite in the top 6. However, it tops Which? lists for best customer service and rates. Additionally, it receives consistently good ratings across the web. As a result, the company now serves over 2 million locations in the UK.  

In 2020, Octopus acquired Engie’s domestic portfolio. This places Octopus as one of the largest providers in the UK. However, users also love Octopus for its transparent rates and good customer service. That’s likely how Octopus became one of just two suppliers in the country to be recommended by Which? In short, Octopus is highly rated and affordable.  

Octopus Energy Business Electricity Tariffs 

Octopus Energy uses one primary tariff option as a baseline. However, you can always contact the company to get different quotes and different contract options. These are not available on the website. However, they include:  

Green Octopus:  

  • Fixed terms of 12-24 months 
  • 100% renewable energy  
  • Standing rates range from 21-35p per day  
  • Tariffs range from 16-21p per kWh 
  • No exit fees 
  • 30-day notice required to terminate the contract 
  • Pre-payment required  
  • Economy 7 available  
  • Fixed rates ensure transparent costs and protection from the market  

Flexible Octopus:  

If you email Octopus Energy to request alternative tariffs, you’ll have the option to select “Flexible Octopus”.  

  • Monthly, rolling contract 
  • 30-day notice required to terminate the contract 
  • Variable rates so no locked in tariffs 
  • Fees from 18.5p per kWh  

Large businesses may also be able to request wholesale rates. However, Octopus does not have a specific service set up for this. Instead, you’ll have to email them at business@octopus.co.uk 

Essentially, Octopus offers green energy with transparent rates. Here, you can choose a variable or fixed tariff for a term of 12-24 months. Otherwise, there are no real decisions to make.  

Octopus Business Gas Tariffs & Plans  

Octopus uses the same set of fixed or variable tariffs with a single plan option for most of its business gas options. However, you can also choose to pay extra to subsidize carbon recapture to offset gas. Additionally, Octopus sources some renewable gas. However, most of it is not carbon neutral. The carbon offset plan is called Super Green Octopus. It also costs about 0.35 pence more per kWh of gas. However, it delivers full carbon offset through Renewable World, the Brighton-based charity.  

Green Octopus 

  • Fixed terms of 12-24 months 
  • 100% carbon offset available  
  • Standing rates average 18-21.7p per day  
  • Gas tariffs from 3.44p per kWh 
  • Fixed rates for protection from market fluctuations  
  • No exit fees 

Flexible Octopus 

  • Rolling, monthly contract 
  • 100% carbon offset available  
  • Gas tariffs from 3.1p per kWh  

While you get some discounts for choosing a dual gas + electric contract, it’s not enough to be notable. However, most businesses benefit from the convenience of using one contract more than from any discounts on gas.  

Octopus Business Reviews & Ratings 

Octopus is one of the highest-rated energy suppliers in the UK. For example, with a 4.8-star rating on Trustpilot, Octopus has a higher rating than any other energy supplier. Plus, with 91% 5-star reviews, Octopus has a good reputation. Additionally, most of the 3% 1-star ratings they have on Trustpilot revolve around smart meter installation.  

On the other hand, Octopus has a lower rating on Reviews.io. Here, the company is rated 2.90 out of 5 stars. However, with a 47% recommendation rate, Octopus is still one of the best-rated energy providers on the platform.  

Similarly, Octopus is very highly rated by Which?. In fact, it’s one of the only three energy suppliers to ever be recommended by the company. In 2021, Octopus was the second recommended option on Which?. This means it falls just under, “Outfox the Market”, in the top 20 list of best-to-worst energy suppliers in the country. In short, Octopus is the second highest recommended supplier out there.  

Overall, Octopus has an impressively good reputation. The issues it does have relate to smart meters. Some clients also complain about slow customer service on resolving billing errors. However, these complains are remarkably few when compared to many competitors.  

Pros 

  • 100% renewable energy  
  • Transparent pricing  
  • No exit fees 
  • Very highly rated 

Cons 

  • Extra fee for carbon offset for gas 
  • Pre-pay structure means you’ll always have credit with Octopus 
  • Some issues with smart meters and installation  
  • Business rates are not as transparent as residential rates 

Switching to Octopus Business Energy  

Octopus offers minimal support and customer service during switching. This means that if you switch to Octopus from another supplier, you’re responsible for sending your previous supplier notice. This should be sent at least 30 days before you intend to make the switch. Otherwise, switching to Octopus Energy is relatively straightforward.  

  • Request a business quote. If you want a variable tariff, email Octopus at business@octopus.co.uk  
  • Choose your tariff and sign up  
  • Contact your existing supplier at least 30 days in advance to let them know about the switch  
  • Octopus will handle the rest 

Octopus also has an Energy Switch Guarantee rating. This means the supplier is rated as offering seamless transfers with no loss of power in between suppliers. While most suppliers strive to offer this, Octopus guarantees it.  

Commercial Energy Billing Process 

Octopus uses pre-payment billing. This means you’re given a flat monthly rate for the year, with estimated costs spread out evenly over 12 months. You then pay credit upfront into your account. Your usage is debited out of the account, and you’re sent an actual invoice after-the-fact.  

This allows you to benefit from predictable billing without peaks during winter months. However, it does mean paying bills before using electric. It also means that if energy usage is higher or lower than expected, you’ll pay an extra bill or receive credit back. That can be inconvenient if you build up a large amount of credit or debit. However, Octopus will let you know if this is the case.  

In either case, you’ll receive a full invoice with VAT, the Climate Change Levy, and tariff types. Invoices are sent at the end of the month, after funds are deducted from your account.  

Change of Tenancy  

Octopus Energy makes it easy to switch energy suppliers. That extends to taking them with you when you move. Additionally, you should fill out a change of tenancy when moving into premises they supply. If you want to choose another supplier, you can skip this step.  

  • Alert Octopus Energy at least 17 days before your moving date  
  • Fill out the Octopus move-in form  
  • Wait for Octopus to mail you the confirmation pin  
  • Send the first/last meter readings  
  • Wait for the contract to start 

That’s it. Additionally, Octopus does not use “Deemed rates”. This means you have to start a contract to use energy. If you move in and Octopus is already supplying the property, you’ll be billed at the same rate as you would in Flexible Octopus contract. This makes Octopus incredibly easy to move into. Plus, with no expensive deemed rates, it’s alright if you forget the Change of Tenancy during your move. 

Business Bill Payment Methods  

Octopus primary accepts Direct Debit. The company states that this simplicity allows them to keep bills and rates low for everyone. However, you can also choose to pay via debit card using one-off payments. You can find the form here 

Additionally, you can contact Octopus to set up alternative bill pay options. These include:  

  • PayPoint 
  • Cheque  
  • Credit/Debit card 
  • Prepayment meters 

You will have to email Octopus at hello@octopus.co.uk to set this up. Include your account number and the payment option you’d like.  

Submitting Meter Readings  

Octopus requires you to set up or log into your account to submit a meter reading. If you do not have an account, you can email the reading to hello@octopus.co.uk.  

  • Click “Submit Meter Reading” in the online portal or the app  
  • Manually enter the meter reading to the red letters. If you’re using the app, you can take a photo of the meter with your phone camera.  

Smart Meters 

Octopus Energy is in the process of rolling out smart meters to its clients. If you’re interested in having a smart meter, you should sign up here. Then, when your zip code becomes eligible, Octopus will contact you to set up an installation. Smart meters give you more control and oversight of energy usage. This means that estimates are based on actual usage. You also see usage on a monthly basis, rather than at the end of the year.  

Plus, smart meters allow you to do away with meter readings, except for the very first time. That adds convenience and greatly reduces the chances of inaccurate statements and invoices.  

Octopus Business Contact Details  

Octopus Energy is relatively easy to contact. In fact, they list live response times on their website, so you can see how long it’s likely to take for a response.  

Phone Number: 0800 164 1088 

Address: 2nd Floor, UK House, 164-182 Oxford Street, London, W1D 1NN 

Email Address: hello@octopus.energy  

If you want to know more, visit their contact us page