Martin Lewis, founder of MoneySavingExpert, has weighed in on Octopus Energy's upcoming price increase for its Octopus Go and Intelligent Octopus Go variable tariffs, effective from May 1, 2026. The off-peak rate for Intelligent Octopus Go will rise to 6.9p/kWh, a change announced on April 20, giving customers roughly ten days' notice.
A subscriber, @Ken_w_davies, questioned the timing on X, noting that the tariffs had been reduced just weeks earlier due to a drop in the price cap. Lewis clarified that Octopus Go is not a price-capped tariff, so its reduction was linked to the removal of government policy costs, not the cap. He added that as a variable tariff, price changes are permitted with adequate notice, though some customers reported receiving less than the standard 30 days.
Octopus Energy CEO Greg Jackson defended the move, stating the tariffs remain “very cheap” and are around 20% below the price cap, with a blended rate of about 18.3p/kWh for typical users. He noted that the company had not changed prices itself for four months on Octopus Go and longer for Intelligent Octopus Go, and that Ofgem had removed the 30-day notice requirement.
Lewis responded, expressing surprise that Ofgem had dropped the 30-day rule and acknowledging customer dissatisfaction. He confirmed that MoneySavingExpert would cover the issue and include Octopus Energy’s full response.
Octopus Energy explained that the earlier reduction reflected government levy cuts passed directly to customers. A spokesperson highlighted that Intelligent Octopus Go remains Britain’s cheapest standalone EV tariff, with many users charging at 20% below the price cap.
