Octopus Energy customers can now get their credit back in as little as ONE day

• Most refunds now arrive within one to two days – faster than any other major supplier

• 70% of customers use the self-refund option in the app and get approved automatically

• New payment system frees up teams to spend more time helping customers

London, 16th December 2025 – Octopus Energy customers can now get their account credit back faster than ever before, thanks to a new tie-up with fintech company GoCardless.

Octopus has completed one of the largest Direct Debit migrations in UK history, moving 5.5 million accounts and £12 billion of payments to GoCardless – so customers can get self-refunds much faster.

Refunds that once took up to five working days can now land in customers’ bank accounts in just one or two days – faster than any other major energy supplier.

The quickest way to get a refund is through the Octopus app. Someone tapping “refund” on a Monday will usually see the money back before lunchtime on Wednesday. Around 70% of refunds already happen this way, with roughly 30,000 processed every week.

Customers who prefer to talk to someone to get their refund processed can get in touch with Octopus via phone or email.

The move to GoCardless, a UK fintech company trusted by thousands of businesses, means transactions move smoothly behind the scenes, with fewer delays and less repetitive admin. That frees up Octopus’ teams to spend more time helping customers where it matters.

Octopus was the first major supplier to let customers refund their credit directly through their online account or app. Customers can withdraw their credit whenever they like – though many choose to keep a buffer for winter when usage rises.

Greg Jackson, Founder and CEO of Octopus Energy, said: “Moving £12 billion of payments with zero disruption is a huge technical achievement. It’s another step in using technology to make energy fairer and faster for customers.”

Hiroki Takeuchi, co-founder and CEO of GoCardless, said: “We’re proud to power payments for Octopus Energy – a company that, like us, uses technology to make life simpler. This shows what’s possible when two tech-driven companies collaborate for good.”

Octopus was also the first supplier to create a personalised Direct Debit tool. The Balance Forecaster, which customers can find in their Octopus account, shows exactly how their payments and usage stack up over the year. If their balance ever gets a bit too plump, a quick tap in the app sends it straight back to their bank.

Notes to editors

*All customer credit balances are protected under Ofgem’s rules.

Press Contacts

Octopus Energy Group

press@octoenergy.com+44 (0)20 4530 8369

GoCardless

gocardless@hotwireglobal.com

About Octopus Energy

Octopus Energy is a global clean energy and technology business, driving the affordable, green energy system of the future. Under its own retail brand, Octopus delivers world-class customer service and cutting-edge energy products to 11 million households globally.

The company is driving the electrification of heat and transport through smart tariffs and innovative clean tech, with operations spanning 27 countries and the entire energy value chain. It operates a £7 billion renewables portfolio as well as thriving EV leasing, heat pump, and solar businesses.

Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website.

About GoCardless

GoCardless is a global bank payment company. Over 100,000 businesses, from start-ups to household names, use GoCardless to collect and send payments through direct debit, real-time payments and open banking. GoCardless processes US$130bn+ of payments annually, across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees. We use AI-powered solutions to improve payment success and reduce fraud. And, with open banking connectivity to over 2,500 banks, we help our customers make faster, more informed decisions.

We are headquartered in the UK, with additional offices in Australia, France, Ireland, Latvia and the United States. For more information, please visit www.gocardless.com and follow us on LinkedIn.