Octopus Energy Refer a Friend - Get a £50 Statement Credit When You Switch Energy Suppliers, and £50 For Each Friend You Refer

Octopus Energy are currently the cheapest supplier for the Ofgem cap energy tariff (Flexible Octopus). The difference between suppliers is minimal (~£8 a year), but arises because of the small differences in the ways in which suppliers are able to implement the government cap, To make switching to Octopus a bit more appealing, they are offering new customers a £50 bill credit when signing up Octopus via a refer-a-friend link.

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Switching to Octopus – Get a £50 Bill Credit

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If you are thinking of signing up to Octopus, you should check that Octopus is cheaper than your current supplier. Especially if you have an Economy 7 meter (probably EDF is better).

If you are on a normal meter, there are two options:

• Flexible Octopus (little cheaper than other suppliers due to a 4% reduction in the standing charge rates set by Ofgem).
• Octopus Tracker (currently ~30-40% cheaper than Ofgem cap)

  This link takes you to an auto-updating dashboard that shows the prices of the Tracker tariff for each region. The rate follows wholesale prices, and it is currently the cheapest tariff because wholesale rates are low. But in Octopus’ own words: “You will need to keep a close eye on your daily rate but at the moment it is cheaper than the Octopus Flexible tariff”.

Daily price updates for the Tracker tariffs are posted on Reddit to r/OctopusEnergyTracker and can also be found on this site here

I switched from Shell energy because Octopus were actually cheaper (despite all the price cap stuff), and then I joined the Tracker tariff to save even more money. If you want to see if Octopus is a good deal for you, here’s what to do:

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How to get your £50 Bill Credit if Switching to Octopus is a good idea for you

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1. Get your annual usage from your latest bill.
2. Click the Octopus £50 Bonus Referral link

As long as you have clicked the referral link you should see the “Special offer: £50 credit for you and XXX if you sign-up now.” banner at the top of this page.

3. Enter your postcode.
4. Click the “Get a quote button.” and then enter your details and click “Quote me” to see the rates available.

Compare these rates to those from your current supplier, and if they are better then you may wish to switch!

5. Click “sign me up” to get started with your switch to Octopus.
6. Sign up by entering your details and creating an account.
7. Look out for any emails confirming your switch and requesting your meter numbers.

I signed up just before New Year, and received my confirmation within 10 minutes. A few minutes later I was asked to enter my meter serial numbers (these are on your bill). Ten minutes after that, I received confirmation from my old provider (Shell) that my switch is underway.

8. Automatically receive your £50 referral credit once you are on supply and your first direct debit has been taken.

Then refer your friends (if it makes sense for them to do so), and you will both receive £50 when they sign up!

If you fancy joining the Tracker tariff, then once you are an Octopus customer just sign up on the Tracker page here