Octopus Energy has announced a price increase for its Octopus Go and Intelligent Octopus Go variable tariffs, effective from 1 May 2026. According to multiple reports, the overnight rate for Intelligent Octopus Go will rise to 6.9p/kWh. The increase was announced on 20 April, giving customers roughly 10 days' notice.
Even after the increase, the rate remains below the standard national average, according to the company. Martin Lewis, founder of MoneySavingExpert, noted that Octopus Go is not a price-capped tariff and did not move due to the drop in the Price Cap. He explained that the tariff dropped due to the removal of some government policy costs from energy bills. Lewis said that as the tariff is not price-capped and is variable, it is allowed to move the price as long as adequate notice is given, and the only option is to switch elsewhere.
Octopus Energy CEO Greg Jackson defended the change, insisting the company is not flouting regulations and the tariffs remain very cheap. He stated that typical users on these tariffs will have a blended rate of around 18.3p/kWh, around 20% below the Price Cap. Regarding the notice period, Jackson explained that Octopus Energy aims for about two weeks' notice for price changes, but this time it was slightly less. He noted that Ofgem removed the 30-day notice requirement for variable tariffs.