Octopus Energy customers have reacted angrily after receiving barely two weeks’ warning about upcoming price increases on electric vehicle tariffs.
Customers on Intelligent Octopus Go and Octopus Go were informed on April 20 their electricity costs would rise from May 1, giving some just 10 days to prepare.
Octopus Energy blamed “ongoing global volatility” linked to the Middle East conflict for the decision to increase rates.
Standing charges are also rising by roughly 52p per month on average, according to customer emails seen by MoneySavingExpert.
These smart tariffs are widely used by electric vehicle owners because they offer cheaper overnight electricity for charging, with the same discounted rate applying to household appliances used during those hours.
Affected customers took to social media to express frustration, with many questioning the timing of the changes.
One user wrote on X: “Two weeks’ notice of change. And they say they review every three months. Also wiping out the Government’s levy and costing us more than before.”
‘I’m afraid the only option is to ditch and switch’: Martin Lewis weighs in as Octopus Energy customers rage over price rise
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GETTY/Martin Lewis
Another said: “Octopus putting up its Octopus Go rates from May 1 even though it brought them down just weeks ago for the drop in the Price Cap? Doesn’t sound right.”
The reaction comes after rates were reduced on April 1 following Government-led policy cost cuts.
Some customers noted Octopus’s website states variable pricing is reviewed every three months, yet the tariff has now been adjusted twice within a single month.
Martin Lewis responded after customers contacted him on X about the changes
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OCTOPUSMr Lewis explained Octopus Go is not a price-capped tariff, meaning the recent decrease was not directly tied to the Price Cap but instead to the removal of Government policy costs from bills.
“As it’s not price-capped and it is a variable tariff, it is allowed to move the price as long as adequate notice is given.
“I’m afraid the only option is to ditch and switch elsewhere.”
He also said he had been unaware that Ofgem had removed the previous 30-day notice requirement for price changes, describing it as “a shame” the rule no longer applies.
Octopus Energy chief executive Greg Jackson defended the company’s position, stating the tariffs continue to offer strong value despite the increases.
“Whilst rises are painful and we work very hard to avoid them, these tariffs are still very cheap – typical users on this tariff will have a blended rate of around 18.3p/kWh, around 20 per cent below the Price Cap, and the more they charge their car the bigger the saving,” Mr Jackson said.
Mr Jackson acknowledged concerns about the timing but said the company avoided issuing notifications over the weekend when customer support services would be limited.
A company spokesman added electric vehicle owners on these tariffs now save more than £1,000 annually compared with petrol costs, up from £860 before the Middle East conflict began.
Intelligent Octopus Go remains Britain’s cheapest standalone electric vehicle tariff, according to the company.