Overview

• An Ofgem probe found that over 34,000 prepayment meter customers who switched or left between 2014 and October 2023 did not receive final bills within the required six-week window.
• Octopus Energy must pay £1.483 million in redress, averaging £43 per affected customer, including £231,000 in unused credit refunds and £1.25 million in compensation.
• Payments will be issued to all contactable customers by September, with any unclaimed funds directed to the Energy Industry Voluntary Redress Fund to support vulnerable households.
• Octopus has voluntarily written off related debts and implemented billing system and process upgrades to prevent future compliance breaches.
• Ofgem says it will continue to monitor supplier adherence to billing rules and pursue further enforcement action where necessary.