Octopus Energy has boosted its financial support fund by a further £10million this winter, in a move to help customers “in more ways than ever before”.
The firm’s Octo Assist fund, which is now worth a total of £40million, can be accessed by customers struggling with their energy bills, who can often receive relief “directly in their energy accounts within days of applying”. It comes as Ofgem’s new energy price cap comes into effect today (October 1), pushing bills up for millions of households on standard variable tariffs by 2%. Rebecca Dibb-Simkin, chief product and marketing officer at Octopus Energy, said: “Octo Assist is built on a simple principle: getting help should be easy. We know that when people are struggling, the last thing they need is to wade through endless forms or wait months for an answer.
“That’s why we’ve designed Octo Assist to be quick, human and easy to follow. By increasing the fund to £40million, we can support more customers in more ways than ever before.”
Since launching in 2021, Octo Assist has helped over 100,000 customers access financial support.
The energy firm’s partnership with fintech platform Paylink enables Octo Assist to help identify other financial support that customers might be missing, such as benefits, grants, local schemes and tailored tariffs from other utilities.
It also helps create a personalised budget for customers, allowing Octopus Assist to offer tailored support, including bill credits, standing charge holidays, and debt write-offs. In addition, it offers a bank fo free energy-saving tools.
For example, customers using the fund can rent thermal cameras to spot draughts and heat loss, or they can apply for free electric blankets.
Applying for support takes just a few clicks, as customers are simply asked to complete a short form about their financial situation.
Customers who are worried about their bills can apply through the Octopus website.
