Finding the right energy provider can be overwhelming, as energy prices are unpredictable and regularly change, and there are a lot of energy suppliers to choose from.
Martin Lewis, founder of MoneySavingExpert.com, is one of the most reliable voices in personal finance. His views on Octopus Energy provide helpful insights for anyone looking to understand their options in the energy market.
This article covers Martin Lewis’s thoughts on Octopus Energy.
We’ve also included practical tips for those thinking about making a switch.
Why Martin Lewis’s Opinions Matter
Martin Lewis is a well-known financial journalist and consumer advocate who has spent his career helping people make better financial choices. As the founder of MoneySavingExpert.com, his advice is based on thorough research and a commitment to consumer interests. His expertise is instrumental in the energy sector, Martin regularly comments on energy-related issues, whether that be the energy price cap or standing charges and helps guide people towards finding the right supplier for them.
Exceptional Customer Service
In an industry often criticised for long wait times and poor communication, Octopus Energy stands out. The company consistently scores highly in customer satisfaction surveys, with many praising its transparent and responsive approach. They have been Which? recommended provider for 8 years in a row and have one of the highest Trustpilot scores of any energy supplier.
Martin Lewis has said “Octopus has a really high customer service rating in polls I’ve done. I did a lot of research and surveys on which companies were best at transferring customers and who made it as painless as possible, and Octopus came top”.
Lewis has also said Octopus had “schooled other big providers on how to communicate and do customer service in an energy crisis.”
The MoneySavingExpert ‘Cheap Energy Club’ gives Octopus a 3.5 out of 5 rating. This may not sound impressive, but it makes it one of the highest-rated suppliers on the platform. This score is based on Citizens Advice data and MSE’s bespoke YouGov poll.
Competitive Tariffs
Energy prices are a major concern for households, and Martin Lewis has cited Octopus Energy for offering competitive tariffs. The company offers flexible and fixed-rate options to suit various customer needs.
The Agile Octopus tariff is particularly innovative. It allows consumers to benefit from lower prices during off-peak times. Martin Lewis has noted that picking the Agile tariff with Octopus Energy can lead to significant savings.
MSE has also conducted a detailed analysis into the Tracker tariff from Octopus, finding that customers could (at the time) have saved money if they had been on the Tracker, with “unit rates and standing charges … significantly lower then the current Price Cap rates”
Other Benefits of Switching to Octopus Energy (not mentioned by Martin Lewis)
Commitment to Renewable Energy
Octopus supplies 100% renewable electricity, sourced from wind, solar, and hydropower, as standard, making it a great option for environmentally conscious consumers.
Octopus Energy’s green tariffs are eco-friendly and competitively priced, showing that sustainable energy doesn’t have to be expensive. Martin Lewis has not commented specifically on Octopus Energy’s renewable energy commitments.
Simple Switching Process
Switching energy providers can feel like a hassle, Octopus Energy makes the process straightforward. Their efficient system ensures a seamless transition, often completed within just a few days. Their responsive customer service team further simplifies the experience. Martin has not commented specifically on the Octopus switching process.
Customer Engagement and Transparency
CEO Greg Jackson has appeared on The Martin Lewis Money Show to address consumer concerns directly, showcasing the company’s transparency and commitment to customer satisfaction.
Customer Advocacy
In recent news, Octopus Energy has supported initiatives like ‘no standing charge’ tariffs and debt relief for struggling customers. These moves align with their focus on being customer-friendly and addressing many households’ challenges.
Tips for Saving with Octopus Energy
If you’re considering switching to Octopus Energy, here are some practical tips inspired by Martin Lewis’s advice:
1. Compare Tariffs Regularly
Energy prices can change frequently, so it’s important to check available tariffs regularly. Octopus Energy offers a range of options, so you can choose one that fits your budget and usage.
2. Lock in a Fixed-Rate Tariff
With energy prices rising, Martin Lewis often suggests fixed-rate tariffs for those wanting stability and protection against future hikes. Octopus Energy’s fixed-rate options can provide peace of mind, they may save you money in the long run.
3. Explore Innovative Tariffs
If you can adapt your energy usage, consider options like the Octopus Tracker or Agile Octopus tariff. These plans can offer significant savings if you’re flexible with your energy consumption.
Is Octopus Energy Right for You?
Martin Lewis and MSE have not commented much specifically on Octopus Energy, but when they do, their comments tend to be positive.
Octopus Energy has a reputation as a customer-focused and reliable provider. With excellent customer service, competitive pricing, and a strong commitment to green energy, making them a great option for many households.