Last reviewed: 4th October 2024
Octopus Energy has gained a strong reputation for its competitive prices and excellent customer service. However, with rising costs, it is worth considering who is cheaper than Octopus Energy in 2024 and whether there is an alternative supplier you could switch to.
While Octopus Energy is known for its fair pricing and commitment to green energy, it’s always worth checking out other options to see if you can get a better deal. Several energy companies offer competitive rates, and switching providers could save you money without sacrificing service quality.
In this post, we’ll explore some of the energy companies that might offer cheaper rates than Octopus Energy.
- Octopus Energy
- Comparing Octopus to Other Energy Suppliers
- British Gas
- OVO Energy
- E.ON Next
- EDF Energy
- Who is cheaper than Octopus Energy?
- Is Octopus Energy still the cheapest?
- FAQs
- What factors should I consider when comparing energy suppliers?
- How do fixed-rate tariffs compare to other energy pricing options?
- Is it worth switching to a smaller energy supplier to get cheaper rates?
- How can I find out if another supplier offers a better deal?
- How often should I compare energy prices to ensure I’m getting the best deal?
- How long does it take to switch energy suppliers if I find a cheaper option?
- What is the process for switching energy suppliers?
- How do I ensure a smooth transition when switching energy suppliers?
- Can I return to my previous energy supplier if I’m not satisfied with the new one?
- Will I experience any service interruptions when switching to a cheaper supplier?
Octopus Energy
Firstly, let’s start by looking at Octopus Energy and the prices and tariffs they have available.
Offering a variety of tariffs, including fixed, variable, and the innovative Tracker tariff, which adjusts daily based on wholesale prices, Octopus caters to a wide range of customers.
As of October 2024, the average monthly cost for Octopus Energy customers on their popular tariffs is as follows:
| Tariff Name | Type | Monthly Price |
|---|---|---|
| Flexible Octopus | Variable | £106 |
| Octopus Fixed12m | Fixed | £97 |
Click here to get £50 credit when you switch to Octopus Energy
Comparing Octopus to Other Energy Suppliers
To determine whether Octopus Energy is the cheapest option, we compared it with several other major energy suppliers in the UK.
The comparison was based on current tariffs available in October 2024, considering both fixed and variable rates and any associated exit fees. To get an exact comparison, you will need to do a quote with each supplier, but this will give you a rough idea of who is cheaper than Octopus Energy.
British Gas
British Gas, a household name in the UK, is often the first alternative people consider when looking for cheaper energy.
Here’s how their pricing compares:
| Tariff Name | Type | Monthly Price |
|---|---|---|
| Standard Variable | Variable | £107 |
| The Longer Fix v11 | Fixed | £102 |
While British Gas offers extensive customer service and a long-standing reputation, their prices are generally higher than those of Octopus Energy, especially on the fixed tariff.
Click here to get £50 credit when you switch to Octopus Energy
OVO Energy
OVO Energy, another leading supplier, often competes closely with Octopus in terms of pricing and customer satisfaction. Here’s the cost comparison:
| Tariff Name | Type | Monthly Price |
|---|---|---|
| Simpler Energy | Variable | £107 |
| 1 Year Fixed 27 September 2024 | Fixed | £98 |
OVO’s fixed tariff is slightly more expensive than Octopus’s fixed option, and their variable tariff is also more expensive. Customers may find value in OVO’s additional benefits, such as its green energy commitment and bundled service options, however.
E.ON Next
E.ON Next is known for its customer-focused service and green energy initiatives. Their pricing is competitive, though similar to Octopus Energy:
| Tariff Name | Type | Monthly Price |
|---|---|---|
| Next Pledge Tracker 12m V5 | Variable | £107 |
| Next Fixed 12m v28 | Fixed | £98 |
E.ON Next’s variable tariff is slightly more expensive per month than Octopus Energy. E.On Next’s fixed tariff option is considerably more expensive.
EDF Energy
EDF Energy is another major supplier that often matches Octopus Energy in pricing:
| Tariff Name | Type | Monthly Price |
|---|---|---|
| Standard (Variable) | Variable | £107 |
| Essentials Fixed 1Yr Oct25v3 | Fixed | £98 |
EDF offers competitive pricing, but both of these tariffs are more expensive than comparable tariffs from Octopus.
Who is cheaper than Octopus Energy?
Based on our analysis of the other big suppliers, nobody is currently cheaper than Octopus Energy. Octopus are the cheapest supplier for both fixed and variable tariffs.
If you are an Octopus Energy customer, then you likely have one of the cheapest deals around!
If you are looking to switch to Octopus, then they are likely to be cheaper than your existing supplier. Of course, you will need to do a quote based on your own circumstances to check, but this will take less than 3 minutes.
If you are going to join Octopus, why not use our Octopus referral code?
Is Octopus Energy still the cheapest?
Yes, based on current energy tariffs, Octopus Energy is still the cheapest big-name energy supplier with no exit fees.
Prices and tariffs do change regularly, so to make sure Octopus are still the cheapest, it is worth checking based on your own energy usage and location before switching.
They are also one of the highest-rated suppliers on Trustpilot, so if you decide to switch, you are likely in good hands.
Click here to get £50 credit when you switch to Octopus Energy
FAQs
What factors should I consider when comparing energy suppliers?
When comparing energy suppliers, consider the price per unit of energy, any exit fees, the type of tariff offered, customer service ratings, and whether the supplier offers green energy options. Don’t forget to check if there are any perks or discounts for switching.
How do fixed-rate tariffs compare to other energy pricing options?
Fixed-rate tariffs lock in the price you pay per unit of energy for a set period, offering protection from price increases. However, if energy prices drop, you won’t benefit from lower rates like you would with a variable-rate tariff.
Is it worth switching to a smaller energy supplier to get cheaper rates?
Smaller energy suppliers can sometimes offer cheaper rates than larger companies. However, it’s important to check their customer service ratings and contract terms before making a switch.
How can I find out if another supplier offers a better deal?
You can use online comparison tools to quickly find out if another supplier offers a better deal. These tools compare prices, tariffs, and customer reviews to help you make an informed decision.
How often should I compare energy prices to ensure I’m getting the best deal?
It’s a good idea to compare energy prices at least once a year, or whenever your current contract is about to end. Energy prices can change, and new deals can become available.
How long does it take to switch energy suppliers if I find a cheaper option?
Switching energy suppliers usually takes about 2 to 3 weeks. During this time, your new supplier will handle the process, and there will be no disruption to your energy supply.
What is the process for switching energy suppliers?
To switch energy suppliers, you need to choose a new supplier and sign up with them. Your new supplier will contact your current provider to handle the switch. You’ll receive a final bill from your old supplier, and the new one will take over your energy supply.
How do I ensure a smooth transition when switching energy suppliers?
To ensure a smooth transition, make sure you provide accurate meter readings when requested and settle any outstanding bills with your current supplier. Keep in touch with your new supplier to confirm the switch date.
Can I return to my previous energy supplier if I’m not satisfied with the new one?
Yes, you can usually return to your previous supplier, but it’s important to check if the old tariff is still available or if you’ll need to sign up for a new plan.
Will I experience any service interruptions when switching to a cheaper supplier?
No, there should be no service interruptions when switching energy suppliers. The process is seamless, and your energy supply will continue as usual.