What is Octopus Energy
Founded in 2015, Octopus Energy is a global power company. Based in London, it has operations in nine countries, including across Europe, America, Australia and parts of Aotearoa.
In addition to being an electricity retailer, Octopus Energy has a range of other divisions that focus on high-tech energy solutions. They include electric cars, green power generation, electricity trading software platforms and research facilities.
What’s on offer from Octopus?
Octopus offers three regular retail plans:
- OctopusFlexi
- OctopusPeaker
- Working on Sunshine
The plans feature Octopus’ off-peak rates, which include half-price energy at night:
- Peak times: 7am-11am, 5pm-9pm
- Off-peak: 11am-5pm, 9pm-11pm & 7am-11pm on weekends
- Night: 11pm-7am everyday
Octopus has a world-wide business based on green power and high-tech electricity solutions, which is reflected in its plans. All plans offer solar buy-back, but OctopusPeaker and Working on Sunshine offer higher rates during peak times.
If it seems weird that Octopus offers night pricing, when solar panels aren’t working, Octopus’ rates take into consideration those with batteries, who are able to export power at any time of the day.
OctopusFlexi
Buy-back rate: Standard 17c per kWh, for those producing 10kW or less
OctopusPeaker | Working on Sunshine
If you have a battery or produce more than 10kW:
Buy-back rate: Peak: 23c per kWh | Off-peak: 10c per kWh | Night: 5c per kWh
The installation of an import/export meter costs $199.
Octopus Energy also offers a Zero Bills plan that guarantees no bills for five years for homes that have solar panels and batteries, consume less than 8000kWh per year and meet certain system requirements.
Account management and energy services
Manage and track your power usage through the easy-to-use Octopus app, and save on your power bill via Octopus’ innovative energy services:
EV Services
Octopus offers intelligent EV charging that ensures you always attain the cheapest price to charge your electric car. You can also integrate costs from ChargeNet or OpenLoop charging stations into your home account.
Hot-water Savings
Octopus’ intelligent hot-water control offers discounts of up to $150 per year if you sign over control of your hot-water cylinder, limiting its use during peak hours, from four to 16 hours per day.
Savings Sessions
Sign up to Octopus’ Savings Sessions and you could earn $2 for every kWh of electricity you save during times of peak power consumption.
Customer service
Octopus has a detailed FAQ section on its website and app, and operates a helpline during office hours Mon-Thurs, and 9am-4pm on Fridays. Faults can be reported 24/7.
Note: Details are correct at 15/10/25.
About the author of this page
Bruce Pitchers is Canstar’s NZ Editor. An experienced finance reporter, he has three decades’ experience as a journalist and has worked for major media companies in Australia, the UK and NZ, including ACP, Are Media, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. As a freelancer, he has worked for The Australian Financial Review, the NZ Financial Markets Authority and major banks and investment companies on both sides of the Tasman.
In his role at Canstar, he has been a regular commentator in the NZ media, including on the Driven, Stuff and One Roof websites, the NZ Herald, Radio NZ, and Newstalk ZB.
Away from Canstar, Bruce creates puzzles for magazines including Woman’s Day and New Idea. He is also the co-author of the murder-mystery puzzle book 5 Minute Murder.
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