Octopus Energy Help & FAQs
What plans do you offer?
We have one plan, but two ways to pay via pre-pay or post-pay. Check the details of each below.
On Octo 12, the price you pay per unit of electricity you use (in kWh) is locked in for 12 months. This fixed plan gives you added security and great value for the long term, with an early termination fee of $100.
Paying for Octo-12 Postpay
You’ll get a bill every month based on your meter readings, and we ask that you pay within two weeks of your bill via credit or debit card. Or, set up autopay on your debit/credit card or with your bank account. We’ll automatically take payment around two weeks after you get your bill.
The best way to pay for your usage is by setting up auto-pay. This much easier for you to manage as you don’t need to remember to pay your bills. It’s less hassle and you’re less likely to get behind on your payments. You will still receive your bills and we’ll send you a notification confirming when the payments have been made.
Credit check? Yes, we do run a credit check for this plan. If you don’t meet the requirements, you can still sign up: we’ll just ask you to pay a $300 deposit.
Paying on Octo-12 Prepay
On this plan, the price you pay per unit of electricity you use (in kWh) is locked in for 12 months, with an early termination fee of $100. OctoPrepay 12 is like your Toll Tag/EZ Tag account, only for electricity.
Instead of paying after you receive a bill, on this plan, you load up your account with money which is then used towards your energy bills. You’ll start your account with a balance of $75, then we’ll deduct your energy charges from that balance each day.
Autopay makes reloading your energy account easy. As soon as your balance hits $25, your account will be automatically reloaded so you’ve always got enough money to cover your energy costs. You can set your own reload amount, and check your balance and bills online and on our app 24/7.
When it’s coming to the end of your fixed plan, we’ll contact you to let you know your options for the year ahead. If you don’t choose a new plan, you’ll move to our month-to-month price, which means your energy rate changes monthly based on the wholesale market price.