Octopus handing customers free £200 payment ahead of £1,738 bills

Octopus is issuing free £200 payments to customers after the latest Ofgem energy price cap announcement - which shows bills are rising to £1738. Octopus says it is "stepping up to help" and "offering our own £50, £100 and £200 ‘Winter Fuel Payments’ to thousands of Octopus customers".

The Winter Fuel Payment is a yearly payment (of either £200 or £300) to help pension-age households cover their bills in the winter. Up until recently, the payment went to all UK households with someone over state pension age.

Starting this winter, it’ll only go to households who also receive Pension Credit or another one of these benefits. Octopus said: "This means the number of households who’ll receive the payment will go from around 11 million to just over 1 million. Means-testing the payment helps make sure support goes to customers who need it most – some of the lowest-income households.

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"But no targeting is perfect and we know it could leave some pensioners who are just above the affordability line with additional costs to cover." It added: "We’re extending our £30m Octopus Assist fund so that thousands of customers missing out on the Winter Fuel Payment and struggling with bills can now claim discretionary credits of £50, £100 and £200 from the fund.

"We’ll ask you to share some information about your health, any vulnerabilities, income and monthly costs so we can work out the best ways we can help you. Applying is quick and straightforward, and you can do it online, over the phone, or by mail.

"We’ll also check if you’re entitled to any other government support or benefits (which for some customers, add up to £10,000 a year) and can help you apply. More on that below. We created the fund to support customers struggling with bills in the cost of living crisis.

"In three years, we’ve added £30 million in funding and helped 80,000 customers through bespoke support including payment breaks, standing charge holidays and clearing energy bill debt."