Octopus Energy has broadened its support scheme to include those over the State Pension age who do not receive Pension Credit. This comes in the wake of the UK Government’s decision to eliminate annual Winter Fuel Payments for over 10 million older people across Great Britain.
Despite nationwide appeals from the SNP, charities and campaigners for a reversal of the policy change announced by Chancellor Rachel Reeves on July 29, the Labour Government is standing firm on the policy shift. The eligibility change means millions of pensioners who received payments between £100 and £300 last year will not be entitled to the money this winter.
However, Octopus has committed to extending its £30 million assistance fund into this winter, making State Pensioners who do not meet the new criteria for Winter Fuel Payments eligible. Similarly, OVO has launched a £50m support package aimed at helping customers struggling with energy bills as the new, higher price cap takes effect.
Both funds are now open for applications, with funding available throughout the year. Octopus Energy’s ‘Octo Assist’ fund can provide discretionary credits of £50, £100 and £200, and the energy giant is reminding customers that it always charges below the price cap – which has now increased by 10 per cent – saving customers from £150m of energy costs annually.
Octopus Energy Group is spearheading a raft of consumer support initiatives, including the provision of free electric blankets, the loan of thermal imaging cameras to identify and correct drafty areas, personalised energy-saving advice through home visits, and incentivised ‘savings sessions’ rewarding reduced energy use during peak demand. Over the last two winters, these schemes have engaged more than 2 million people and generated a combined saving of £10.5 million for participants, as noted by the Daily Record.
Greg Jackson, the founder of Octopus Energy Group, recently expressed his company’s dedication to cost-efficiency for clients saying: “At times like this, we can’t expect the government to do everything – companies need to work hard on affordability too. That’s why we’ve expanded our Octo Assist fund to introduce extra support for the pensioners who need it most.”
Furthermore, he pointed out the widespread issue of unclaimed entitlements: “There’s a lot of government and other support for pensioners but many don’t realise it – government data shows one in three pensioners eligible for pension credits are not claiming, so we’re training our team to help with this too.”
Alongside Octopus, OVO has rolled out a significant £50 million Extra Support Package, aimed at alleviating the pressure on customers facing the cost-of-living crunch. Echoing Octopus’s Octo Assist fund, the initiative grants round-the-year access to financial assistance, with a particular emphasis on boosting aid during the colder season.
Over the past year, OVO’s customer support scheme has reached more than 200,000 households. The comprehensive £50 million package provides a range of assistance to those in need.
The £50m package includes:
- Payment holidays for all prepayment customers so that every penny put on the meter will go towards heating, not paying back debt this winter. OVO is also keeping emergency credit at the increased amount of £15.
- Free energy saving products including electric throws, mattress toppers, and home efficiency kits.
- Energy efficiency upgrades: Customers could receive a wide range of energy-saving measures installed through ECO4 – from loft insulation to a new boiler, or even high-end tech like heat pumps. Eligible customers could get a whole package installed, all for free.
- Financial support including Direct Debit reductions, emergency credit top-ups, and extended repayment plans.
- New partnerships and increased financial relief for customers alongside help for organisations including Warm Welcome Campaign and StepChange.
OVO’s eligibility criteria extends beyond the £150 Warm Home Discount, indicating that elderly individuals who are not receiving Winter Fuel Payments may still qualify for assistance. More information about OVO’s support can be found here.
Advisors from both Octopus Energy and OVO can also assist customers in identifying unclaimed benefits such as Pension Credit.
