Octopus Energy urges UK households to make ‘no-brainer’ £271 saving

Octopus Energy is urging UK households with a smart meter to make a ‘no-brainer’ change to save up to £271 per year.

The major energy supplier, which serves more than seven million households across the country, says customers who sign up to its free Octoplus rewards programme can benefit from hundreds of pounds worth of savings. The exclusive rewards programme is for electricity smart meter customers only and allows members to collect ‘Octopoints’ which can then be converted into cash and redeemed against a wealth of offers. According to the firm, Octoplus customers had access to more than £300 worth of rewards in 2025, which, based on a typical bill, would be equivalent to 17% of annual energy costs.

Among the current perks and offers for Octoplus customers is a free hot or cold drink from Greggs every week, 25% off at selected restaurants, two for £8 Vue cinema tickets plus 15% on food and drinks, a National Trust family day pass for £8, and free electricity when the grid is greenest.

Octopus says the programme can save customers up to £271 per year and for those who already have a smart meter, signing up is a “no-brainer”.

The supplier said: “Octoplus is our free rewards programme that can save customers up to £271 a year. Sign up for tons of perks and giveaways like a weekly free hot drink at Greggs or Caffe Nero, 25% off dinners, and even, wait for it, Free Electricity when the grid's green! If you've got a smart meter, it's a no-brainer really."

To be eligible for the rewards scheme, customers need to:

• Have their electricity supplied by Octopus
• Have an electricity smart meter (which sends half hourly readings)
• Pay by Direct Debit.

Gas only customers cannot take part in the scheme as the saving sessions and free electricity sessions are electricity based activities.

But if you do meet the critieria, those who sign up will gain Octopoints which can then be converted into cash at a rate of 800 Octopoints for £1, or you can multiply the value of your Octopoints by redeeming them against offers. The points last for three years and are available to see in the Octoplus tab of your online account, or Octopus mobile app.

*** Ensure our latest personal finance headlines always appear at the top of your Google Search by making us a Preferred Source. Click here to activate or add us as Preferred Source in your Google search settings. ***

Octopus Energy added: “Our perks change regularly, so the total won't always be the same, but here's how much value people have unlocked in the first few years of Octoplus:

"From January 1st to September 1st 2025, customers claimed Octoplus perks worth £10,521,000, including discounted dinners and movie tickets, free Greggs treats, free movie streaming, and over three million free hot drinks.

"In free electricity sessions, customers earned £1,723,940 between January 1st 2024 to September 1st 2025. In Saving Sessions, customers earned £1,034,504 worth of Octopoints between 1 November 2023 to 1st September 2025."