Smart tariffs save Octopus Energy customers £1bn on bills

• Customers have cut their bills by a combined £1bn, according to the UK’s biggest energy firm
• Since 2017 the Octopus Tracker has helped more than a million people cut their bills
• Smart tariffs mean energy is cheaper during ‘off-peak’ hours

Octopus Energy customers on smart tariffs have shaved £1bn off their energy bills since 2017, with more than £200mn being saved in the last 12 months alone.

The energy provider, the biggest in the UK, said that its Octopus Tracker, which tracks the price of power has saved one million customers money by helping them use electricity at the “cheapest and greenest time”.

Octopus’ smart tariffs, such as Intelligent Octopus Go, Agile Octopus and Cosy Octopus reward customers for shifting their energy use to times when there is plenty of cheaper renewable energy available.

Greg Jackson, Founder and CEO at Octopus Energy, said that every time a customer shifts energy usage away from peak periods (usually 4pm-8pm) they make “energy cheaper and cleaner for everyone”.

“It’s no different from traveling off-peak: shifting demand unlocks cheaper deals and a more efficient system for everyone,” he said.

What are smart tariffs?

Smart tariffs, also known as ‘time-of-use’ tariffs, are pricing plans that vary depending on the time of day you use it. Energy is a lot more expensive during peak hours, when the grid is at its busiest. By contrast, it’s a lot cheaper during off-peak hours, which are usually between 10pm and 6am, often by 60%.

They’re one of the best tools customers have, along with solar panels and batteries, when trying to cut their energy bills. In order to use a smart tariff, you first need a smart meter.

Jackson said that Octopus has seen “booming demand for EVs, heat pumps, home batteries and smart tariffs”, as households embrace technology that can help cut bills, reduce reliance on fossil fuels and protect against global fossil fuel price shocks,” Jackson explained.

Written By

Maximilian Schwerdtfeger Deputy editor

Max joined The Eco Experts as content manager in February 2024 and became deputy editor in 2025. He has written about sustainability issues across numerous industries, including maritime, supply chain, finance, mining, and retail. He has also written extensively for consumer titles like City AM, The Morning Star, and The Daily Express.

He has represented The Eco Experts on national television several times, including the BBC’s Sunday Morning Live and ITV Tonight .

In 2020, he covered in detail the International Maritime Organisation’s (IMO) legislation on sulphur emissions and its effects on the global container shipping market as online editor of Port Technology International.

He also explored the initiatives major container ports and terminals have launched in order to ship vital goods across the world without polluting the environment.

Since then, he has reported heavily on the impact made by environmental, social, and governance (ESG) practices on the supply chain of minerals, with a particular focus on rare earth mining in Africa.

As part of this, in 2022 Max visited mines and ports in Angola to hone in on the challenges being faced by one of the world’s biggest producers of rare earth minerals.

His most recent sustainability-related work came much closer to home, as he investigated the eco-challenges faced by independent retailers in the UK, specifically looking at how they can cut emissions and continue to thrive.

Max lives in South London and is an avid reader of books on modern history. He has also recently learned to play the game Mahjong and takes every opportunity to do so. He is also yet to find a sport he doesn’t enjoy watching.

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