MY £75 OCTOPUS ENERGY REFERRAL CODE LINK

What Is The Agile Octopus Tariff?

Agile Octopus is one of Octopus's beta, smart, time-of-use tariffs, where customers are offered electricity prices which change every half hour, based on the wholesale price of energy. Agile Octopus introduced Plunge Pricing - a world first which allows customers to benefit from negative price events.

What Is Plunge Pricing?

Energy prices fall whenever more electricity is generated than consumed in the UK, sometimes to the point where prices drop below zero and suppliers are paid to take energy off the grid. Plunge Pricing allows Agile Octopus customers to take advantage when this happens and actually get paid for using electricity!

Why Would I Switch To The Agile Octopus Tariff?

The daily peak energy hours, when people are using a lot of power, are normally between 4pm and 7pm. Outside of these hours wholesale energy prices are generally a lot cheaper, with a higher percentage coming from renewable sources. On Agile Octopus, shifting your electricity use outside of these busy times allows you to access cheap off-peak rates, so you can save money, use the greenest electricity available and help reduce the strain on the national grid.

Am I Protected If There's A Surge In Prices?

Yes. Octopus introduced Price Cap Protect to keep Agile Octopus customers safe from surge prices. When more electricity is being consumed than generated, wholesale prices rise. While price spikes are short-lived, usually only lasting 30 minutes to an hour, they do happen. Agile Octopus includes Price Cap Protect, which guarantees you'll never pay more than £1/kWh for your electricity.  

Do I Need A Smart Meter For The Agile Octopus Tariff?

Yes. You'll need a smart meter from which Octopus can take half-hourly readings. So either a SMETS1 smart meter made by the "Secure" brand or a SMETS2 smart meter. If you don't have a smart meter you can contact Octopus to register your interest. Smart meters are installed free of charge.

How Are Prices Calculated For The Agile Octopus Tariff?

Octopus Agile rates are based on half-hourly wholesale prices, set the previous day between 4pm-8pm (normally nearer 4pm). These prices are multiplied by a co-efficient depending on where the customer lives, to cover things like transmission costs, balancing costs and distribution costs. There is a further addition, the "peak-time premium", to discourage electricity usage between 4pm and 7pm. The daily standing charge is around 49p.

What If I Later Decide The Agile Octopus Tariff Isn't For Me?

Octopus Energy don't charge any exit fees and there are no tie-ins, so you can switch tariffs or change supplier at any time, free of charge.

How Do I Sign Up To The Agile Octopus Tariff?

You must currently be an Octopus Energy customer (with a smart meter) to go straight onto the Agile Octopus Tariff. If that's not the case then Octopus will initially sign you up to a non-smart interim tariff of your choice. Don't forget that if you're a new Octopus customer and would like to earn £75 cashback from your switch, first click on my referral link below then navigate to the Agile Octopus page to start your switch.