Octopus Energy is offering customers £100 as supplier launches new heat pump scheme

Octopus Energy is offering customers £100 as supplier launches new heat pump scheme

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Patrick O'Donnell

By Patrick O'Donnell

Published: 02/04/2024

- 15:45

The Government hopes to rollout 600,000 heat pumps annually by 2028 as part of its push for the UK to reach Net Zero

Octopus Energy has announced the launch of a new scheme which could see households pocket an extra £100.

The energy supplier is rolling out the UK’s first heat pump and solar panel referral initiative as part of the ongoing push to Net Zero.

Octopus Energy has paid out some £100million to customers in referrals since the firm’s launch onto the market.

This payout has been divided between customers recommending the supplier and new customers who have signed up with the supplier.

Further referral sums are expected to be handed out as Octopus Energy introduces its new heat pump and solar referral offer.

Households have been saddled with fluctuating energy bill prices in recent years with environmentally-friendly devices, such as heat pumps, being hailed as a solution to bring costs down long-term.

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Man on phone and Octopus Energy van

The energy supplier has launched a brand new scheme which could see households pocket an extra £100


What is the new Octopus Energy scheme?

Those who get a heat pump or solar system installation from Octopus Energy can refer loved ones to get their own Net Zero device installed.

Customers referring a friend or family member to the supplier could get £100 as part of this new scheme.

New customers who end up having this environmentally-friendly tech installed will get a £100 discount on the fitting.

Retail customers with Octopus Energy can get a £100 credit put on their account while others, who are not customers, will receive an e-voucher of the same amount.

What are heat pumps?

These are energy-efficient, low carbon devices which are used to heat homes and considered alternatives to traditional gas boilers.

The Government has introduced grants to partially cover heat pump installation costs via the Boiler Upgrade Scheme with applications reportedly increasing by 75 per cent in February from the year before.

With Octopus Energy, heat pump prices start at £500 with the Boiler Upgrade Scheme offering £7,500 towards the price of either an air source or ground source device.

According to the supplier, Britons could save £222 annually by switching to a specialist heat pump tariff from a boiler.

Rebecca Dibb-Simkin, the chief product officer at Octopus Energy, urged existing and potentially new customers to take advantage of this £100 incentive deal.

She said: “Nothing makes us happier than satisfied customers, and we’re incredibly proud that so many have referred us to their friends and family over the years.


Heat pumpThe Government wants 600,000 heat pumps a year to be installed by 2028PA

“Our approach has always been to put money back into people’s pockets.

“We’ll happily give away another £100million in referrals as savvy customers take advantage of our heat pump offer – and help speed up the clean heating revolution along the way.”

Recent research has found that heating systems using electric heat pumps, powered by local onshore turbines, could see families save 26 per cent on their bills than if they continued using gas heating.

Further information on Octopus Energy’s latest referral scheme can be found by visiting the energy supplier’s website.

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