Energy price cut

Renewable energy supplier Octopus Energy is bringing Christmas cheer to over a quarter of a million homes by announcing a price cut for the New Year.

Hundreds of thousands of customers on variable tariffs with the Octopus Energy Group, including Co-Op Energy and Affect Energy, will see their bills fall from 15 January 2020, with the average household seeing an annual saving of £80.

Co-Op Energy customers on standard variable tariffs will see their energy prices plummet within weeks of being supplied by Octopus, saving them an average £160 a year on their gas and electricity bills.

‘We’ve invested heavily in technology to enable us to deliver long-term low prices. Whilst other companies gleefully set prices close to the price cap level, we cut prices for new, loyal and acquired customers alike.

‘You can always get a cheaper deal by spending precious time finding a loss-making tariff from a ‘tease and squeeze’ supplier, but their loyalty penalty means there’s usually a sting in the tail. Octopus chooses to cut prices for loyal customers as well as new ones.

‘And we’re not compromising on renewables either: we still supply green electricity, and more importantly are driving change to make the whole system greener.’

GREG JACKSON
CEO of Octopus Energy Group

£21m savings

This is the second price drop in a row for customers on Octopus’s flexible tariff, continuing Octopus Energy’s long-term commitment to fair pricing.

Octopus campaigned hard for the introduction of the price cap earlier this year, helping to protect the UK’s most vulnerable customers from unfair pricing.