Engie domestic customers to move to Octopus Energy
Octopus Energy has acquired 70,000 new customers with a takeover of the French energy company Engie. Selectra brings you the details and answers your questions below.
Octopus Energy’s take over of Engie’s UK residential supply business pushes the challenger firm’s customer base to about 1.4 million and gives it an approximate 5% market share.
The purchase, for an undisclosed amount, marks Octopus Energy’s sixth acquisition in two years.
Why has Engie sold its business?
Engie is the world's largest independent electricity producer, but it only entered the UK market in 2017.
It supplied domestic customers with 100% renewable electricity and was the first UK supplier to introduce a policy of rolling customers onto the cheapest tariff at the end of a fixed-term contract.
The French company wants to concentrate on its strategy of supplying zero-carbon energy to businesses and local authorities. Its expertise includes EV infrastructure, smart building technology and offshore wind power.
Engie customers were quite content with the company's performance.
On consumer review site Trustpilot it received 1,311 reviews, 83% of which rated it as “Excellent” and only 5% gave it the lowest rating.
So, will Engie customers be happy with the move to Octopus Energy?
Who is Octopus Energy?
The London-based challenger firm set up shop in 2015 and offers 100% renewable energy via its innovative tariffs.
It also has an option allowing gas customers to offset all their carbon and a tariff especially tailored for electric vehicle (EV) drivers.
There is no exit fee from its tariffs which are among the cheapest in mainland UK.
The young company prides itself on challenging the Big Six suppliers and its “transparent and fair” tariff structure.
Octopus Energy’s recent acquisitions include Affect Energy and the customer base of Iresa Energy after that firm ceased trading.
It has also partnered with the Coop Energy brand to supply its 300,000 with power and teamed up with Marks and Spencers to become the supplier for its white label M&S Energy brand.
The challenger was also chosen by London Mayor Sadiq Khan to supply the city’s new renewable energy firm London Power.
Current customers appear to be more than happy with the company, which has a rating of “Excellent” from 92% of 18,112 reviews on Trustpilot.
The consumer advocate non-profit Which named it as a recommended supplier for 2020, the third year in a row it has been given such an accolade.
It looks like Engie customers should be in good hands.
I’m an Engie customer, what do I need to do?
You don’t need to do anything. Octopus Energy has already begun the process of transferring all Engie customer accounts.
If you have a direct debit with Engie, that will be moved automatically to Octopus along with any credit or debit balance you have, so don’t be tempted to cancel it.
You should have received an email from Octopus with all the information you need. Check your junk or spam folders if you can’t see a message in your inbox.
1. Will my supply or bills be affected?
Don’t worry, your energy supply will continue working as usual. If you’re on a fixed rate tariff, Octopus will charge you the same price and the end date of your contract remains the same.
If you’re not on a fixed-rate (Engie Safe & Easy or Pay As You Go), you will be put on its flexible tariff which works out at around £84 per month for an average home. Octopus may even put you on a cheaper tariff.
If you’re on a 100% green tariff with Engie, you will be moved on to an equivalent tariff with Octopus.
Now the changeover is in progress, you won’t be able to change your Engie tariff. Once it has finished you will be free to choose from Octopus Energy’s range of offers.
2. What if I’m a prepay customer?
If you’re on a prepay tariff, you can continue to use your Engie key and card to top up until Octopus issue you with replacements.
3. What will happen to my smart meter?
Customers with a smart meter won’t notice any changes as Octopus Energy will take over management of it automatically.
4. Do I need to pay any more bills from Engie?
Customers may still receive bills from Engie while the switch is in progress. You should pay this bill as you normally would.
5. What if I’m moving home?
If you’re an Engie customer and you haven’t told the company you’re moving to a new place yet, call Engie’s customer service on 0800 280 8000 to ask them to transfer your details to Octopus.
What if I don’t want to be an Octopus Energy customer?
Our advice is to hold off on doing anything until Octopus have confirmed the transfer has been completed successfully.
Trying to involve a third company in the process at the moment could complicate things and cause more problems. However, it could take a couple of months until the changeover is finished so you might have to be patient.
Once the switch has been finalized, you’re free to shop around for another supplier, Octopus Energy doesn’t charge any exit fees.
If you have already started changing suppliers, it might not go as smoothly as it should. Octopus Energy advises customers in this situation to ask their new supplier to restart the switch if they encounter any issues.
If you have any other questions the changeover you can contact the Octopus changeover team. Call 0800 280 8000 and then press the asterisk or star key (*). The line will be available from 9am to 5pm Monday to Friday.