Could you switch to green energy and save money? Households could save up to £83 if they move to Octopus Energy via Compare the Market this month
Households could save up to £83 and switch to green energy if they take advantage of Compare the Market's exclusive deal with Octopus Energy.
The comparison site, which is This is Money's energy partner, has teamed up with Octopus Energy to offer a deal that could help you save while also swapping to renewable power.
By switching to Octopus Energy's new 'Exclusive Online Fixed' tariff, you'll get 100 per cent renewable electricity while saving up to £83 a year compared to average use and costs for gas and electricity.To take advantage of this deal between 23 and 30 April, click here to head to Compare the Market and for full offer T&Cs.
Households could save up to £83 when they switch to green energy with Octopus Energy
What is the Octopus Energy deal?
The 'CTM Exclusive Octopus 12M Fixed April 2021 v1' tariff is fixed for 12 months and is available to new Octopus Energy customers only, costing an average of £1,055 a year.
This could give customers savings of £83 per year, on average, based on the current typical cost of a UK gas and electricity bill of £1,138 a year, according to Ofgem.
These figures are for an average UK home paying by monthly Direct Debit on a standard gas and electricity tariff.
Payment must be made via monthly direct debit and your account can be managed online only. There are no exit fees.
Average usage is currently defined by the energy regulator Ofgem as 12,000kWh of gas and 2,900kWh of electricity per year. If your usage is higher or lower than this, the rates will be fixed and the amount you pay will depend on your usage.
Prices are correct as of 21 April 2021.
Octopus Energy participates in the Warm Home Discount scheme, meaning eligible customers could get £140 off their electricity bill during winter.
If you want to take advantage, click here to find out more and compare energy deals.
Why are bills rising?
Saving money on energy bills is more important than ever as millions of people continue to work from home.
With more devices plugged in, heating on and consumption up, typical bills could be as much as £113 higher from January to March usage than usual, previous research from Compare the Market found.
Costs have also risen since the watchdog, Ofgem, increased the price cap by £96 at the beginning of April, impacting the estimated 11million people on standard default tariffs.
Whilst the cap was launched in January 2019 as a way of keeping down the cost for households, it has now been increased to £1,138 with the hike of £96 including an additional £23.69 energy providers can charge a year to help it cover for coronavirus-related costs.
Saving money on energy is even more important now that millions are working from home still
To avoid falling foul of the price hikes, customers are encouraged to use price comparison sites, such as Compare the Market, to see if they could save money on their energy bills.
Switching to a fixed tariff is highly recommended as they tend to be much cheaper than costly default offers.
Moving to a green deal is also beneficial as consumers will be helping the environment at the same time as saving money.
Suppliers with green plans either match your usage with renewable energy generation or will contribute towards environmental schemes on your behalf.
To save up to £83 on your energy bills and switch to a renewable energy plan with Octopus Energy head to Compare the Market.
Click here to switch now and find the full terms and conditions.
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