Octopus offers four ‘freebies’ to help customers with costs – can you | Personal Finance | Finance
Octopus is offering four freebies to help customers with bills while energy prices are back on the rise.
The provider’s £30 million ‘Octo Assist’ fund offers targeted support, including extra help for pensioners hit by Winter Fuel Payments cuts. So far, the fund has supported over 85,000 vulnerable customers.
Several schemes are available through the fund, and customers are encouraged to check their eligibility for support, especially as Ofgem has announced a 1.2% rise in the energy price cap in January, following a 10% increase in October.
Rebecca Dibb-Simkin, Chief Product Officer at Octopus Energy, said: “We know many customers are struggling with their energy bills this winter, and we urge anyone in need to get in touch. There’s help available.”
Here are four freebies Octopus Energy offers now to help households reduce their bills.
Free electric blankets
Over 65,000 electric blankets have already been distributed for free to vulnerable customers, with 20,000 more available this winter.
Octopus research shows that electric blankets can slash winter heating costs by £300 on average.
Heat loss cameras
Octopus is lending thermal imaging cameras for free to help customers spot draughts in winter and implement easy fixes to reduce energy consumption. Thousands of cameras have been lent to customers over the past years.
Energy helpers
Octopus is offering in-person home visits again this winter, giving customers tailorerd and practical energy-saving advice. According to the provider, over 300,000 homes have already benefited from this scheme.
Free electricity sessions
New this year, Octopus customers can enjoy free power when wholesale electricity prices fall, helping them lower their bills while supporting a greener energy system.
Customers signed up to “Octoplus” can join in, as long as they have a smart meter and pay by Direct Debit or smart prepay. Customers will be informed in advance when a free electricity session will take place.
Octoplus is a rewards programme for smart meter customers, and it’s free to sign up.
The company is also offering variable recurring payments (VRPs), such as direct debits, and is calling on other suppliers to do the same.
These allow customers to spread their energy costs into smaller, more manageable payments, which Octopus said can save low-income households who currently pay on receipt of bill up to £112 annually.
While these short-term measures can offer some bill relief, Octopus is also campaigning to change the rules of the UK energy market to bring energy bills down once and for all.
Electricity from renewables is typically two to three times cheaper than gas, but the outdated rules in our energy system mean customers don’t see the benefits.
By introducing regional prices rather than keeping a single national rate, energy costs would fall for all households. Last year alone, Octopus said customers would have saved £2billion if the UK had introduced regional prices – translating to savings of up to £90 per household.
Ms Dibb-Simkin added: “It’s become abundantly clear that our energy system is broken. Bills are too high, and the benefits of green energy aren’t reaching consumers.
“To truly lower costs for everyone, we need to change the rules of the market and enable regional pricing. Otherwise, the costs of our inefficient energy system will just keep piling up.”
Octopus Energy customers who are struggling with their bills should get in touch via email at hello@octopus.energy or by calling Octopus at 0808 164 1088.
