STRUGGLING Octopus Energy customers could get hundreds in grants to help pay their gas and electricity bills.
Octopus Energy’s Octo Assist Fund can provide financial assistance to those struggling to pay their energy bills.
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Energy bills set to increase by 80% from £1,971 to £3,549 from October 1 for those who pay by direct debit.
However, the rise is even steeper for the four million customers on prepayment meters.
Bills for these customers are set to rise from £2,017 to £3,608 next month.
However, a number of major energy suppliers, including Octopus Energy, are urging their customers to come forward and seek help.
Earlier this year, Octopus Energy opened up a £2.5million scheme to give those struggling the most financial support.
The firm pumped an additional £4.5million into the pot to help its most vulnerable customers and has now doubled its support to £15million.
Customers of Affect Energy, Co-operative Energy, Ebico Living, London Power and M&S Energy are also entitled to apply for help through the Octo Assist Fund.
The firm has already given over 100,000 customers support through a number of different initiatives.
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What’s on offer?
There are several ways in which Octopus Energy can help its customers that are struggling to pay their bills:
- Direct bill support which could include vouchers up to £500 and the initiation of payment holidays.
- Home energy visits to help discuss how households can reduce their usage.
- Loaning thermal cameras to spot heat loss zones in people’s homes.
- Giving out free energy-efficient electric blankets (this part of the scheme will resume later this year).
Who’s eligible for the extra support?
There’s no specific eligibility criteria for customers to apply for help through the Octo Assist Fund.
However, those on the lowest incomes and that may be in energy debt should expect to be first in line for extra support.
Octopus Energy assess each customers circumstances on a case-by-case basis.
How do you apply?
To see if you qualify for Octopus Energy’s energy bill help, and what kind of assistance suits your circumstances, the firm will need to understand a bit more about your financial situation.
You’ll need to fill in this online form provided by Paylink who specialise in helping customers in difficult circumstances.
Paylink need information on what you’re earning, and what you’re spending. Using this, they’ll create a budget so you can see exactly where you stand.
The application process is completely free of charge and while you’re not guaranteed direct financial assistance you may be offered to spread your debt repayments over a longer period of time.
How do I get advice if I’m in debt?
If you’re in debt there are plenty of services you can take advantage of and they offer free and friendly advice on how to manage debt.
Most of them can offer you free guidance and help in person, over the telephone or online.
They can also help you take the next steps if you need a debt management plan (DMP) to tackle your debt or an Individual Voluntary Arrangement (IVA). These are agreements for managing multiple debts.
