£50 Free Energy Credit for Switching to Octopus Energy (Referral Code).

How to claim £50 Octopus Energy credit

New Octopus Energy customers can get a £50 bill credit by using a referral link when switching from another supplier. The credit is applied automatically once your first payment is taken. There are no exit fees, so you can keep the bonus even if you later decide to leave.

Quick steps to switch and claim

Step	What to do
1	Check your annual usage with accurate meter readings
2	Use the £50 Octopus referral link to begin your switch or click on the image below
3	Enter postcode, compare quotes and select your tariff
4	Confirm the switch – no interruption to supply
5	Receive £50 credit after your first direct debit

 

Octopus Energy tariffs explained

Flexible Octopus tariff – stability with no exit fees

The Flexible Octopus tariff is the company’s standard variable rate. It tracks wholesale energy prices but changes less frequently than Tracker. Customers switching here currently get around 4% off average market rates, with the reassurance of no contract lock-ins. It’s well-suited to families who want stability but still want to leave quickly if a cheaper deal appears.

Good for: tumble dryer and dehumidifier households, Economy 7 conversions (flat rate available by request).

Octopus Tracker tariff – savings if you monitor daily

The Octopus Tracker tariff directly follows wholesale energy prices, updating daily. This can lead to significant savings in low-price periods, but it requires monitoring.

• Waiting list: ~6 months (spaces limited).

• Price changes: updated daily at midnight.

• Switching: you can leave the Tracker and move back to the Flexible tariff next day at no cost.

Good for: engaged bill-payers who track prices daily and can shift usage.

Tariff	Price updates	Exit fees	Suitability
Flexible Octopus	Occasional	None	Households wanting stability
Tracker	Daily	None	Active users monitoring wholesale prices

Why choose Octopus Energy?

Octopus Energy has built a reputation for customer service, innovation and transparency. Awards include:

• Moneyfacts Consumer Awards – Best Energy Supplier (2020)

• Uswitch – Supplier of the Year (2020)

• Energy Awards – Best Green Services Provider (2020)

On Trustpilot, Octopus is rated Excellent. Customers highlight its clear online platform, friendly service and green energy focus.

Features we’ve personally found useful include the Balance Forecast tool (pictured below), which predicts upcoming bills and direct debit amounts. For families managing household budgets, it makes energy usage far more predictable.

How to track Octopus Tracker daily rates

If you’re considering the Tracker tariff, keeping an eye on daily prices is essential. Options include:

• Twitter/X updates – accounts like Octo_Tracker post daily wholesale prices.

• Market Match tools – show percentage changes vs. the Energy Price Guarantee.

• Octopus app/web portal – shows live usage and tariff prices.

Tool	What it shows
Octo_Tracker (X)	Daily price per kWh and change vs. EPG
Market Match	Daily wholesale tracker with trends
Octopus portal	Personalised usage, daily tariff cost

Final thoughts – is Octopus Energy worth switching to?

For most families, the combination of a £50 free bill credit, no exit fees and flexible tariffs makes Octopus Energy a low-risk supplier to try. The Tracker tariff requires active monitoring, but the Flexible tariff already delivers stable savings compared to many competitors.

We’ve personally found the referral credit and tools like Balance Forecast valuable when balancing household budgets. Even if you later move again, you keep the £50 — making it a straightforward win.

FAQs

How do I claim the Octopus Energy £50 referral code credit?
Use a valid referral link when switching, and the £50 credit is applied once your first direct debit payment clears.

Can I leave Octopus Energy without paying fees?
Yes, Octopus does not charge exit fees on any tariff.

What’s the difference between the Flexible and Tracker tariffs?
Flexible updates occasionally and is stable for families. Tracker updates daily with wholesale prices and can save more if actively monitored.

Does Octopus Energy have a waiting list?
Yes, for Tracker tariff customers, typically around 6 months.

*Disclosure: This article is for entertainment and educational purposes only. Nothing on this site constitutes financial advice. I am not a financial advisor. You should always do your own research and consult a qualified financial advisor before making big decisions with your money as capital is at risk with any investment. This post may contain links to external sites and affiliates, Savvy Dad accepts no responsibility for how you use these external sites and services (see Site Terms and Privacy Policy).