Octopus business energy quote: my comparison checklist

I run Draper Digital and use Octopus. If I were choosing energy for business premises in Great Britain, I would start with a recent bill and the current contract. A useful comparison needs the same premises, consumption and period on both sides.

• The supply address and postcode, plus whether the quote covers electricity, gas or both.
• Annual consumption in kWh for each fuel, with the dates it covers.
• The electricity MPAN or gas MPRN, if available on the bill.
• The current contract end date, notice requirements and any exit charge.

Octopus’s quote guidance asks for the site address and estimated annual consumption. I would ask the current supplier for missing usage figures rather than infer a full year from one unusually busy month. For a new premises, label any estimate clearly.

Copy this list into a note or spreadsheet and complete one version per quote. Use the same annual usage and comparison dates each time. These are my comparison fields, not a claim that every supplier charges every item.

• Supplier and tariff: ___
• Quote reference, date and expiry: ___
• Premises, meter and fuel: ___
• Comparison period and number of days: ___
• Annual kWh, usage dates and whether measured or estimated: ___
• Unit rate in p/kWh for each charging period: ___
• Standing charge in p/day: ___
• Other charges, how calculated and whether already included: ___
• VAT and Climate Change Levy: included, excluded or not applicable? ___
• Contract start, duration and fixed or variable rates: ___
• Payment method, initial payment or deposit if required: ___
• Exit, notice and renewal terms: ___
• Estimated cost on the same basis, before any referral credit: ___
• One-off credit, qualifying conditions and expected timing, listed separately: ___

Leave an unclear figure marked “ask supplier”. I would not put zero in a charge field simply because the quote summary omits it. Check whether a charge is already inside the unit rate before adding it again.

Keep the quote document with the completed worksheet. If two totals use different tax assumptions or different consumption, ask for matching figures before deciding.

Here is my fictional single-rate electricity example. These are teaching figures, not current Octopus prices, market averages or bills from my business. Both quotes use 10,000 kWh across 365 days and exclude VAT, Climate Change Levy and any additional charges.

Quote A: 25p per kWh and 50p per day

Usage: 10,000 × £0.25 = £2,500. Standing charge: 365 × £0.50 = £182.50. Total before the excluded charges: £2,682.50.

Quote B: 26p per kWh and 20p per day

Usage: 10,000 × £0.26 = £2,600. Standing charge: 365 × £0.20 = £73. Total before the excluded charges: £2,673.

B costs £9.50 less on these assumptions, even though its unit rate is higher. The lower standing charge saves £109.50, which outweighs the extra £100 of usage charges.

For your own single-rate calculation, multiply kWh by the unit rate in pounds, then add the number of days multiplied by the daily charge in pounds. Divide prices quoted in pence by 100 first. Add any separately payable charges and applicable taxes to reach the complete estimate.

I would show any qualifying £75 referral credit beneath that calculation as a one-off adjustment. It does not reduce the unit rate for future years, and requesting a quote alone does not earn it.

For a quote with several rates, calculate each period separately: that period’s kWh multiplied by its rate. Then add the results and standing charges. A single blended rate can hide the effect of when your business uses energy.

If the quote includes time-of-use pricing, half-hourly arrangements or separate meter-related charges, I would ask for the full breakdown and usage assumptions. Use those actual figures rather than forcing the quote into my simple example.

A monthly payment figure is useful for cash-flow planning, but I would also check the annual cost calculation behind it. A fixed rate does not fix how much energy the business will use.

Before agreeing, I would confirm the contract duration, start date, payment requirements, exit terms and what happens at renewal. Ofgem warns that business energy contracts have no cooling-off period after agreement. Read the acceptance step carefully; looking at a quote and accepting a supply contract are different decisions.

My invitation has a business quote route. For an eligible switch, you receive £75 energy-account credit and I receive a separate £75. Rewards depend on coming on supply and the first successful monthly Direct Debit. Confirm the referral conditions with Octopus before counting that credit in your decision.

My business referral guide covers the qualification steps and credit questions in more detail. I would use it alongside the quote worksheet, then choose on the full cost and contract fit.