OCTOPUS Energy has announced a loyalty tariff that is BELOW the set price cap.
The new rate is £48 cheaper for eligible customers from April 2.
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The energy price cap sets the maximum figure that a customer can be charged on a variable dual-fuel rate.
It’s set by Ofgem and typically changes twice a year – with the next increase in price coming on April 1.
Energy companies can charge up to this price, but not go over it – and with gas prices rocketing, most providers have been charging customers the full amount.
But Octopus is set to offer almost £50 less for existing Flexible Octopus customers.
That means they will pay under the £1,971 that’s set to kick in, in just a few weeks’ time.
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The discount is only temporary, but we don’t know yet just how long you will have to cash-in – we will update this story once we know more.
The energy supplier is also doubling its Octopus Assist fund to £5m to help more customers who need it most.
The fund works as a grant for the most hard-up families, who can claim between £50 and £500.
On average, most have been sent £100 though.
By February the provider had already helped 20,000 customers through the fund since its launch in November 2021.
There’s no deadline to apply for this either, but it is a good idea to make a claim if you think you’re eligible, as soon as possible.
What should I do if I’m an Octopus customer?
You don’t really need to do anything if you’re on the flexible tariff with the provider – the lower price is kicking in automatically from April 2.
If you are an Octopus customer, you can check what tariff you’re on in your online account.
But if you are affected, you will be sent an email from the supplier explaining what the cost difference means to your bills too.
More to follow…
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