Octopus Energy is cutting bills automatically after the Autumn Budget and daring rivals to keep up.
From 1 April every Octopus customer will see lower prices without filling in forms switching tariffs or chasing refunds.
The supplier says all fixed and variable tariffs will be reduced to reflect policy changes announced in the Budget. The move will cut a typical annual bill by around £134 compared with what households would otherwise have paid.
Octopus is the first major supplier to confirm the savings will be passed straight through across its entire customer base. Existing customers and new sign ups get the same treatment with no action required.
The company is now publicly urging other suppliers to do the same arguing customers should not have to hunt for savings that have already been baked into policy.
Greg Jackson said: “Octopus has long called for cuts in policy costs to help bring bills down so we are delighted to see the government taking action. These changes will bring welcome relief to customers and we’ll pass them through on all of our tariffs as soon as they kick in so no one misses out.”
He added: “Octopus customers can rest easy – we’ll do it all automatically. We hope other suppliers will follow our lead so everyone can benefit.”
As bills remain politically sensitive Octopus is betting that simplicity and speed will matter as much as the size of the cut.
Octopus will pass on budget savings to customers from April appeared first on Energy Live News.