Octopus Energy (2023) review: Our favourite energy supplier

Octopus Energy launched just eight years ago but has grown rapidly. It recently became the UK’s second-largest home energy supplier after completing its purchase of Shell Energy’s home energy and broadband business. This means it will now supply 6.6 million households with renewable electricity, gas or both.

It isn’t just its green credentials that are impressive; Octopus Energy Generation claims to be one of Europe’s largest investors in renewable energy and some of its gas is carbon offset as well.

Octopus swept the board in our Expert Reviews Energy Awards 2023, scooping gongs for best supplier overall, Best Customer Service, Best Value, Best Bills and Fastest Call Centre Response. In our survey conducted in partnership with YouGov, some 79% of its customers said they would recommend it to a friend.

Octopus Energy (2023) review: Customer service

Octopus Energy’s customers are a highly satisfied bunch. An impressive 73% said they were very or fairly satisfied with its customer service in our survey, compared with the second-highest but significantly lower percentage of 46% for Scottish Power. Only 6% said they were dissatisfied.

Octopus Energy (2023) review: Value for money

It was also the highest rated for value for money with 64% of its customers saying they were very or fairly satisfied. This put it far in front of second-place providers Ovo Energy and Scottish Power, which had just 32% of their customers saying they were very or fairly satisfied with the value for money they offered.

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Octopus Energy (2023) review: Clarity and accuracy of bills

Octopus was ahead of its rivals in our survey for the clarity of its bills. Here, 84% said they found their bills very or fairly easy to understand compared with the next best – E.ON Next with 77%. Only 12% of Octopus customers said their bills were difficult to understand compared with 27% for the worst for this – EDF Energy.

It was also the top supplier for the accuracy of its bills – 52% of its customers said their bills were always accurate compared to 44% and 43% respectively for the next best suppliers Scottish Power and Shell Energy, which will now see its customers migrated over to Octopus.

Octopus Energy (2023) review: Customer contact

It was also head and shoulders above the rest for the speed at which it answered calls from its customers, picking up the phone in five minutes or less for 42% of them. In contrast, Scottish Power managed this for just 17% of calls. Octopus answered 12% of calls in less than one minute.

Octopus also responded to customers contacting it online or by email the quickest, answering 44% in one day or less. The worst suppliers for this were EDF, which only managed to reply to 23% in this amount of time, and Ovo Energy, which achieved 25%.

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Octopus Energy (2023) review: Complaints

According to the complaints data published by the energy regulator Ofgem for the third quarter of 2023, Octopus Energy had the lowest number of complaints per 100,000 customer accounts of all the suppliers in our survey at 1,133.

It didn’t resolve them as quickly as some of the other suppliers in our survey though. Some 69% of complaints were resolved by the end of the next working day and 90% within eight weeks. Ovo Energy was the quickest at resolving complaints with an 80% next-day resolution rate and 97% resolved within eight weeks.

Ofgem complaints data

Notes: Data is for the third quarter of 2023

Along with customer satisfaction and complaints, the cost of energy suppliers’ tariffs will also determine whether they’re worth switching to. There are currently very few deals that are likely to save you money compared to your suppliers’ standard variable tariffs, which are subject to the price cap set by Ofgem, and many of the best deals on offer right now are for existing customers only.

To compare costs, you should see what your current suppliers are offering existing customers as well as gathering quotes to find out how much tariffs from different suppliers will cost you based on your energy usage. For more on how to get the best deal, visit our guide to the best energy suppliers.

Octopus Energy (2023) review: Verdict

You can be sure of getting a great service from Octopus Energy and it’s excellent if you want to reduce your carbon footprint and support the generation of renewable energy. It’s quick to respond to customers so you won’t be left waiting for too long and it offers good value for money.

Methodology

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,006 adults, of which 416 use Octopus for either gas or electricity. Fieldwork was undertaken between 13th – 16th October 2023. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+). *Figures used, based on calculations by Expert Reviews.