What is the Cheapest Tariff with Octopus Energy? A Comprehensive Guide
In today’s world, finding the best energy deal is more important than ever. With rising energy costs and the increasing need for sustainable solutions, many consumers are turning to Octopus Energy for affordable, green energy. But with multiple tariffs available, how do you know which one is the cheapest? In this blog, we’ll dive into the various Octopus Energy tariffs, helping you find the most cost-effective option for your household or business.
Why Choose Octopus Energy?
Octopus Energy has quickly become one of the UK’s most popular energy suppliers, known for its commitment to 100% renewable energy and transparent pricing. Whether you’re looking for a fixed-rate plan or a flexible tariff that adjusts with market conditions, Octopus offers a variety of options to suit different needs. But the question remains: which Octopus Energy tariff is the cheapest?
Understanding Octopus Energy Tariffs
Before we dive into the cheapest options, it’s essential to understand the different types of tariffs offered by Octopus Energy. Here’s a breakdown of the most popular ones:
1. Fixed Tariffs
Fixed tariffs lock in your energy prices for a set period, typically 12 or 24 months. This means you’ll pay the same rate for your electricity and gas, regardless of market fluctuations. While this provides stability, it may not always be the cheapest option if energy prices drop.
2. Flexible Tariffs
Flexible tariffs, also known as variable tariffs, allow your energy rates to fluctuate with the market. This can be beneficial when energy prices are low, but it also means your bills could rise if prices increase. Octopus Energy’s standard variable tariff (SVT) is one of the most popular flexible options.
3. Smart Tariffs
Octopus Energy offers several smart tariffs designed for tech-savvy customers. These tariffs use smart meters to track your energy usage in real-time, allowing you to take advantage of lower rates during off-peak hours. Examples include the Agile Octopus and Octopus Go tariffs, which are ideal for electric vehicle (EV) owners.
4. Green Energy Tariffs
All Octopus Energy tariffs are 100% green, meaning the electricity you use comes from renewable sources like wind, solar, and hydro. However, some tariffs, such as the Supergreen Octopus, go a step further by offsetting your gas usage with carbon credits.
Which Octopus Energy Tariff is the Cheapest?
Now that you’re familiar with the different types of tariffs, let’s explore which one is the cheapest. Keep in mind that the cheapest tariff for you will depend on your energy usage, location, and lifestyle. Here are some of the most affordable options:
1. Octopus Tracker
The Octopus Tracker is one of the most unique tariffs offered by Octopus Energy. It tracks wholesale energy prices daily, meaning your rates could change every day based on market conditions. While this may sound risky, it’s often one of the cheapest tariffs available, especially when wholesale prices are low. According to Octopus, customers on the Tracker tariff have saved up to 20% compared to the standard variable tariff.
2. Agile Octopus
If you have a flexible schedule and can shift your energy usage to off-peak hours, the Agile Octopus tariff could be the cheapest option for you. This smart tariff offers half-hourly pricing, meaning you can take advantage of lower rates during times of low demand. Some customers have even experienced negative pricing, where they were paid to use electricity during periods of excess renewable energy generation.
3. Octopus Go
For electric vehicle owners, the Octopus Go tariff is a fantastic option. It offers super-cheap electricity rates during off-peak hours (typically between 12:30 AM and 4:30 AM), allowing you to charge your EV at a fraction of the cost. While the daytime rates are higher, the savings on overnight charging can make this one of the cheapest tariffs for EV users.
4. Flexible Octopus
The Flexible Octopus tariff is the company’s standard variable tariff, meaning your rates can go up or down depending on market conditions. While it’s not always the cheapest option, it does offer flexibility and no exit fees, making it a good choice for those who want to avoid being locked into a fixed contract.
How to Choose the Best Tariff for You
Choosing the cheapest Octopus Energy tariff depends on several factors, including your energy usage, lifestyle, and whether you have an electric vehicle or a smart meter. Here are some tips to help you decide:
- Monitor Your Energy Usage: If you use most of your energy during off-peak hours, a smart tariff like Agile Octopus or Octopus Go could save you money.
- Consider Market Fluctuations: If you’re comfortable with fluctuating rates, the Octopus Tracker tariff could be the cheapest option, especially when wholesale prices are low.
- Lock in Stability: If you prefer the security of knowing exactly what you’ll pay each month, a fixed tariff might be the best choice, even if it’s not the absolute cheapest.
How to Switch to Octopus Energy
Switching to Octopus Energy is simple and can be done online in just a few minutes. Here’s how:
- Get a Quote: Visit the Octopus Energy website to get a personalised quote based on your energy usage and location.
- Choose Your Tariff: Compare the available tariffs and select the one that best suits your needs.
- Complete the Switch: Once you’ve chosen your tariff, Octopus Energy will handle the switch for you, including contacting your current supplier. There’s no need for any new equipment, and your energy supply won’t be interrupted.
You can read our complete how to guide here.
Conclusion: Start Saving with Octopus Energy Today
Finding the cheapest Octopus Energy tariff can help you save money while supporting renewable energy. Whether you opt for the daily-changing rates of the Octopus Tracker, the off-peak savings of Agile Octopus, or the stability of a fixed tariff, there’s an option to suit every household.
Ready to switch and start saving? Visit the Octopus Energy website to get a personalised quote based on your energy usage and location to find the best Octopus Energy tariff for you today!
