Published On: Sat, May 28th, 2022

Households could save £300 on bills thanks to a new Octopus Energy scheme | Personal Finance | Finance

Last year, the energy firm launched its first electric blanket scheme to assist customers who are looking to save money during the cost of living crisis. Octopus Energy sent out 7,000 free electric blankets to customers who were most in need of them. According to the research carried out by the firm, the scheme saved customers 19 percent on energy costs compared to customers without electric blankets.

Overall, an electric blanket would save the average household £300 at a time when energy bills are skyrocketing.

Currently, households are dealing with a yearly rise of £693 to their energy bills with forecasts predicting costs could hit £2,800 by October.

This support from Octopus Energy will prove to be vital for many families throughout the rest of the year.

Rebecca Dibb-Simkin, the chief product and marketing officer at Octopus Energy Group, outlined why this latest scheme is so essential for those who are most vulnerable.

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Ms Dibb-Simkin explained: “Octopus is determined to do all we can to help customers through the crisis. 

“We’ve subsidised prices by over £100million, created the OctoAssist fund that’s directly helped over 50,000 customers with real cash assistance and helped 250,000 customers through our Winter Workout.”

Furthermore, Ms Dibb-Simkin shared how people qualify for the support and how it will work alongside the recently announced support package from the Government.

“We started sending electric blankets out to customers who qualified under our financial assessment scheme after one of our scientists highlighted the energy efficiency of ‘heating the human, not the home”’– especially for those with limited mobility. 


“This analysis proves just how much difference it makes – with savings of £300 this is perhaps the single biggest thing many people can do to stay warm affordably in these tough times.

“This crisis is real – but alongside the government’s welcome support package, there is a lot that energy companies can do and Octopus will be relentless in finding ways to help.”

As it stands, the latest energy bill support scheme is open to all existing Octopus Energy customers.

It can be accessed through an online tool which asks applicants a series of questions about their financial situation.

While the scheme is currently closed, Octopus Energy has announced it will be extended next winter so those who are eligible have more time to apply.

Outside of giving away free electric blankets to those who need them most, the firm has partnered with a major electric blankets supplier.

This new partnership will provide half price blankets to any customer who is with Octopus Energy.

Any distribution of the electric blankets is primarily based on how badly applicants need the support.

Earlier this week, the Chancellor Rishi Sunak rolled out a new wave of financial support packages to mitigate the impact of soaring inflation and energy bills.

Those in receipt of means-tested benefit payments, such as Universal Credit, will be eligible for a one-off cost of living payment worth £650.

Furthermore, pensioners are set to automatically receive a payment designed just for them which will come to £350.

On top of this, the Government announced a universal discount on energy bills worth £400 which will replace the “buy now, pay later” loan introduced earlier in the year.

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