Octopus Business Energy Compare the Best Deals & Prices

Octopus Business Energy is a leading energy supplier in the UK that specializes in providing 100% renewable electricity and gas to businesses across the country. With a focus on using technology to keep customers satisfied and prices competitive, Octopus Energy has established itself as one of the fastest-growing energy suppliers in the UK. In this comprehensive review, we will delve into the prices and tariffs offered by Octopus Business Energy, as well as explore the key features, customer service, and green performance of the company.

Before diving into the details of Octopus Business Energy's prices and tariffs, let's take a look at the pros and cons of choosing this energy supplier for your business.

Pros and benefits

• 24/7 customer service for emergencies, providing businesses with peace of mind.
• Power Purchase Agreements (PPAs) with renewable generators across Great Britain, supporting the growth of renewable energy sources.
• Flexible payment options, including direct debit, bank transfer, and cheque.
• Smart meter installation available on request, helping businesses track and manage their energy usage efficiently.

Cons and disadvantages

• Limited choice of tariffs, with only one main tariff available for businesses.

These pros and cons are based on feedback from UK business owners, who identified these factors as important when selecting a business energy supplier.

Octopus Business Energy offers a range of tariffs to suit different business needs. Let's explore the pricing and tariff options available:

1. Octopus Fixed-Rate Tariff and rates

Octopus Business Energy's main tariff is a 12-month fixed-rate tariff. Businesses have the opportunity to secure consistent unit rates and standing charges throughout the entirety of their contract with this tariff. While the direct debit amount may vary based on energy consumption, the unit rate for the energy used remains consistent.

To sign up for a fixed-rate tariff, businesses are required to make an advance payment equivalent to one month's estimated energy costs. This payment is reimbursed in full at the end of the contract.

2. Business energy Tariff options for Larger Businesses

For larger businesses with specific energy requirements, Octopus Business Energy encourages direct contact to discuss tailored tariff options. Businesses can reach out to Octopus Energy for personalized advice and pricing.

3. Octopus energy Deemed or Out-of-Contract Rates explained

If a company occupies premises already provided by Octopus Energy without setting up a new agreement, they could be placed on a pricier deemed or out-of-contract rate. Businesses have the freedom to change their rate whenever they want.

4. Additional Adons, Fees and Charges explained

In addition to kWh usage charges, businesses are also responsible for paying a fixed daily standing charge. VAT is charged at either 20% or the reduced rate of 5%, depending on the business's energy consumption. The Climate Change Levy (CCL) is also applicable, with exceptions for certain businesses.

Third-party, non-energy costs may vary from month to month and can include energy infrastructure costs, low carbon generation costs, National Grid energy-related costs, and security of supply costs.

When selecting an Octopus Business Energy tariff, consider the following factors:

• Fixed or Flexible Tariff: Decide whether you prefer a fixed-rate tariff for price stability or a flexible tariff that allows for potential fluctuations in energy prices.
• Contract Duration: Determine how long you want your contract to last based on your business's energy needs and long-term plans.
• Quote Comparison: Compare the quotes provided by different suppliers to ensure you are getting the best deal for your business.
• Renewable Energy: Consider whether you want to prioritize renewable energy options and the level of renewable energy commitment offered by each supplier.
• Customer Service: Evaluate the level of customer service provided by the energy supplier to ensure that your business receives prompt and efficient support whenever needed.

Octopus Business Energy is committed to providing renewable energy solutions and reducing the carbon footprint of businesses. With 100% renewable electricity as standard and the option to offset gas tariffs, Octopus Business Energy supports the growth of renewable energy sources in the UK.

The company's dedication to renewable energy extends beyond their own operations. Octopus Renewables, a sister company of Octopus Energy, manages over 300 renewable energy projects, generating two terawatt-hours of electricity annually. Octopus Energy is also the first UK company to operate a solar export tariff for businesses, further promoting the adoption of solar power.

Octopus Energy's cancellation policy is straightforward and customer friendly. Customers are able to cancel their contract at any time with no additional costs or penalties. When cancelling, customers will be refunded any credit they may have on their account. Octopus Energy also offers a 14-day cooling off period for all new contracts, meaning customers can change their mind within this window and receive a full refund of any payments made. Additionally, Octopus Energy does not charge exit fees when customers switch to another energy supplier. This allows customers to switch providers without facing financial penalties, thus giving them the freedom to choose the best energy deal for their needs.

Octopus Energy is a British company that is owned by Octopus Group, an investment and financial services company based in London. Octopus Group was founded in 2000 and has grown to become one of the largest independent investors in the UK. The group has over £9 billion of assets under management across several sectors, including energy, health, technology and finance. Octopus Energy was established by Octopus Group in 2016 as part of its commitment to sustainability and renewable energy. It is now the leading business energy supplier. Octopus Energy has since grown to become one of the UK's largest energy suppliers, providing energy to over 1.5 million homes and businesses. The company is dedicated to providing clean, renewable energy and has invested heavily in green technologies such as solar, wind and battery storage. Octopus Energy is committed to making the switch to renewable energy easy for its customers by offering competitive rates, excellent customer service and innovative products. It also works with charities such as Greenpeace UK and 10:10 Climate Action to promote sustainability initiatives in the UK.