How Much Can You Really Save With Octopus Energy? (2026)
- Ross Preen
- Jun 9
- 4 min read
Energy bills are still one of the biggest household costs in the UK, so it makes sense to ask a simple question before switching supplier:
How much can you really save with Octopus Energy?
The honest answer is that it depends on your usage, your tariff, whether you have a smart meter, and whether you can shift energy use into cheaper periods. For some households the saving may be small. For others, especially EV owners, smart tariff users, and households using the Octopus app properly, the saving can be more noticeable.
Can Octopus Energy Save You Money?
Octopus Energy can save some customers money, but it is not automatically the cheapest supplier for everyone.
The main savings usually come from:
Choosing a suitable tariff
Avoiding exit fees where applicable
Tracking usage through the Octopus app
Using a smart meter
Moving high usage into cheaper periods
Charging an EV overnight on a suitable tariff
Using an Octopus referral link when switching
For me, Octopus Energy has been useful because I use it for both household electricity and Tesla home charging.
The £50 Referral Credit
One simple saving is the Octopus Energy referral credit.
If you switch to Octopus Energy using a valid referral link, both the new customer and the existing customer may receive account credit once the switch has completed and the qualifying conditions have been met.
The reward amount can change, so always check the current offer before switching.
This is not a discount on the tariff itself. It is normally added as credit to your Octopus Energy account after the switch has completed.
Smart Tariffs Can Make A Big Difference
One of the main reasons people switch to Octopus Energy is access to smart tariffs.
These can include tariffs such as:
Octopus Go
Intelligent Octopus Go
Agile Octopus
Tracker style tariffs
The right tariff depends on how and when you use energy.
If you use most of your electricity during peak times, your savings may be limited. If you can move usage into cheaper periods, especially overnight, the savings can be more noticeable.
EV Charging Savings
EV owners can often benefit more from Octopus than standard households because charging a car at home uses a large amount of electricity.
I currently charge my Tesla at home and use the Octopus app to monitor electricity usage and charging costs.
Home charging is usually much cheaper than relying on public rapid chargers, especially when charging overnight on a suitable tariff.
This is where Octopus Energy can become more valuable, because smart tariffs can reduce the cost of charging an electric vehicle at home.
The Octopus App Helps You Track Usage
One of the best ways to save money is simply understanding where your energy is going.
The Octopus app lets you track:
Daily usage
Monthly usage
Yearly usage
Estimated costs
Smart meter data
EV charging spikes
This makes it easier to spot expensive usage patterns and make changes.
For example, if you can see that certain appliances or charging sessions are increasing costs, you can adjust when and how you use energy.
Does Octopus Energy Have Exit Fees?
Many Octopus tariffs do not have exit fees, but you should always check the tariff details before switching.
No exit fees can be useful because you are not locked in if your circumstances change or a better tariff becomes available.
Is Octopus Energy Always Cheaper?
No. Octopus Energy is not always the cheapest option for every household.
The cheapest supplier depends on:
Your postcode
Your annual usage
Your current supplier
Your meter type
Whether you use gas and electricity
Whether you have an electric vehicle
Whether you have a smart meter
Whether you can use smart tariffs properly
This is why it is important to compare the available tariffs before switching.
Where The Real Savings Come From
The biggest savings usually come from behaviour, not just the supplier.
You may save more if you:
Charge an EV overnight
Use smart tariffs properly
Shift washing, drying or dishwasher use to cheaper times
Monitor usage through the app
Avoid estimated bills
Keep meter readings up to date
Use referral credit when switching
Octopus gives you the tools, but the saving depends on how you use them.
Frequently Asked Questions
Can I really save money with Octopus Energy?
Yes, some customers can save money with Octopus Energy, especially if they use smart tariffs, track usage and take advantage of referral credit. However, savings depend on your usage and current tariff.
Is Octopus Energy cheaper than British Gas, EDF, E.ON or OVO?
It depends on the tariff available at the time. Octopus may be better for smart tariff users and EV owners, but you should always compare current prices.
How much is the Octopus referral credit?
The referral reward can change over time. Check the latest offer before switching.
Is Octopus good for EV charging?
Yes, Octopus is popular with EV owners because of tariffs such as Octopus Go and Intelligent Octopus Go.
Do I need a smart meter?
You do not always need a smart meter for every Octopus tariff, but smart tariffs usually require one.
Final Thoughts
Octopus Energy can help some households save money, but the biggest benefits come from choosing the right tariff and using the available tools properly.
For standard households, the saving may come from clearer billing, usage tracking and referral credit.
For EV owners, the saving can be bigger because overnight home charging can be much cheaper than public charging.
If you are thinking about switching, compare the current tariffs, check whether a smart tariff suits your home, and use a valid Octopus referral link if you want to claim the available account credit.
You may also find these guides useful:
Octopus Energy vs British Gas, EDF, E.ON & OVO (2026)
Octopus Refer A Friend Explained (2026)
What Is A Verified Octopus Referral Link?
Octopus Energy EV Tariffs
How To Switch To Octopus Energy In 2026
👉 Claim your £50 free credit here:
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