Your Questions Answered
We offer the following products with different rate structures:
OctoPrepay 12
Our OctoPrepay 12 (Pay-As-You-Go) plan allow you to lock in low rates over set amounts of time. Here’s how it works:
When you sign-up as a new customer, you will lock in a 12-month rate. For 12 months, your energy rate will remain the same. 45 days before your rate completion, we will reach out to you to let you know our available rates and products. If you don’t select a new product, you will default to our month-to-month plan (which we always aim to keep as low as possible)!
Don’t worry, we hate “bait and switch,” so you can expect our monthly renewal prices to always be reasonable, maybe even just as good as your introductory rate. We’re not like our competitors who jack them up when the initial term expires.
Octo 12
When you sign up as a new customer, you will lock in your rate for either 12, or 36 months. 45 days before your rate completion, we will reach out to you to let you know our available rates and products. If you don’t select a new product, you will default to our month-to-month plan (which we always aim to keep as low as possible)!
Pay-as-you-go is like your Toll Tag/EZ Tag account, only for electricity:
- Load your account once with a starting balance of $75. Choose your reload amount and start using electricity. We reload your account when your balance reaches $25.
- Note: the initial $75 payment is not a deposit. This balance will be used towards your energy usage.
- Pre-paying with Octopus Energy is really simple, and you have access to your balance and billing information in our app 24/7 — plus we send you notifications before we charge your account.
Monthly Billing means you don’t pay for electricity until you’ve already used it, much like your traditional energy company. Enrollment in Monthly Billing requires a credit check with Transunion. For post paid plans, we require a TransUnion credit score of 600 or a deposit of $300. Alternatively, you can opt out of the credit check by paying the deposit as well or choose one of our Pay-As-You-Go plans. Then receive your bill at the end of the month!
It reduces carbon output. When demand is high on the grid, we set your internet-enabled devices to pre-cool your house or pre-heat your water. Then during spikes, we lower your energy usage without you noticing a difference. Energy flows into the grid from different sources. We favor renewable sources and adjust your heaviest energy usage to the times when solar and wind power are highest.
If you’ve chosen our OctoPrepay 12 plan, you’ll be able to check you daily balance through the App or your online portal. Each month we’ll send you a balance summary to confirm your usage for the month and payments made to us.
If you’ve chosen Octo 12 or plan, you’ll receive a statement each month. The bill cycle date is determined by your meter and we will send your bill monthly according to this date.
In addition to your energy rate, we charge:
Credit/Debit Card Processing Fee – 2.9% + 30¢ per transaction NSF and Returned Payments Fee: $35.00.
Disconnect Fee – $10
$10/month Octopus Energy subscription – This $10 monthly fee allows us to keep our rates super low and ensure the incredible service our customers are used to! Nearly all energy providers charge a monthly base fee, but most choose to hide it in their EFLs — we’re letting you know what everything costs, upfront. Honesty is always the best policy.
TDSP Delivery Charges – Every home has a Transmission Distribution Service Provider (TDSP) who charges a fee to read your meter and maintain the meter and the power lines. The fees they charge us also include one-time fees like disconnections, meter tampering, and special meter reads. Octopus passes through these fees to customers without any markup – you pay what we pay.
If you are moving into another area that Octopus Energy services or would like to cancel your account with us (we’re sad to see you go!), call us at (833) OCTO-888 9 a.m. -5 p.m. on Monday, Tuesday, Wednesday, Friday and 9 a.m. - 4 p.m. on Thursday, CT. You can also send an email to heretohelp@octopusenergy.com. Upon cancellation, any remaining balance will be refunded to you via the original payment method or balance owing will be requested on the final bill.
