Your Questions Answered
We currently offer the following products with different rate structures:
OctoGo 30 or 90
Our OctoGo (Pay-As-You-Go) plans 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 an introductory 30-day or 90-day rate. After the 30-day or 90-day period, your plan will convert to our standard low-cost month-to-month rate, automatically.
- Want to keep the same plan you had before? No problem! Give us a call to renew based on current available price plans.
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.
OctoPlus 90 and 365:
- When you sign up as a new customer, you will lock in your rate for either 90-days or 365 days.
- After the 90-day or 365-day period, your plan will convert to our standard low-cost month-to-month rate until you renew.
Want to keep the same plan you had before? No problem! Give us a call to renew based on available price plans.
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 first month’s bill.
- Pre-paying with Octopus Energy is really simple, and you can access your billing information 24/7 through your account on our website - 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. Depending on your credit, we require a deposit of $ 300. 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 cost. We track energy price changes every five minutes. When costs are low, we set your internet-enabled devices to pre-cool your house or pre-heat your water. Then during temporary price spikes, we lower your energy usage without you noticing a difference.
It reduces carbon. 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. You get the same wholesale rate and effortless greener living.
It increases comfort. Our AI takes in your comfort preferences, like how cool you want to be in the summer and how warm in the winter. It ensures that those goals are hit while balancing your cost- and carbon-cutting goals so you never have to break a sweat.
If you’ve chosen our “Pay-As-You-Go” payment plan, you’ll receive a Daily Balance Summary that provides detailed information on your actual electricity usage for the prior day and week, along with an estimate of the remaining days your current balance will cover. As always, your current balance is available 24/7 when logging into your account.
If you’ve chosen our “Monthly Billing” payment plan, you’ll receive a statement at the end of every month.
In addition to either variable or fixed rates, we charge:
$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 TDSP in Houston is CenterPoint and in Dallas is Oncor. 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.
Ancillary Services – These cover a group of minimal charges associated with purchasing wholesale electricity and passed through at cost.
Wholesale Market Fee – This pass through cost is $ 0.002 per kWh and gives us the ability to provide wholesale power to residential customers and provide our customers renewable energy credits.
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 between 9am – 5pm CT, Mon-Fri. You can also send an email to firstname.lastname@example.org. Upon cancellation, any remaining balance will be refunded to you via the original payment method.