Last checked: August 2026
If you run a business and are considering switching energy supplier, Octopus Energy has a separate proposition designed for business customers. Alongside its standard business energy offering, Octopus has developed smart tariffs, multi-site account management and export products aimed at businesses with different energy requirements.
There is also an Octopus Energy business referral offer. At the time of writing, an eligible business referred to Octopus can receive £75 energy credit, while the person making the successful referral also receives £75. That makes the total current business referral reward worth £150.
Our referral code is reed-goose-229. If you’re considering moving your business energy to Octopus, you can use our dedicated Octopus business referral link to check the current offer and start your quote.
The referral Octopus Energy business referral bonus is only one part of the decision. Business energy requirements can vary significantly depending on the size of the company, premises, operating hours, electricity and gas consumption, meter setup and ability to shift energy use away from expensive periods.
This guide takes a broader look at Octopus Energy for Business. We’ll explain the current Octopus Energy business referral, the business tariffs and smart products available, how the £75 referral offer works, what to compare before switching and the types of businesses that may find particular Octopus products interesting.
Independent website disclosure: OctopusBonus.co.uk is an independent referral information website and is not owned, operated or endorsed by Octopus Energy. We may receive a Octopus business referral reward when an eligible customer switches using our referral link. Referral offers, tariffs and terms can change, so always check the current information provided by Octopus Energy before switching.
Contents
- What is Octopus Energy for Business?
- What is the Octopus Energy business referral offer?
- What Octopus business energy tariffs are available?
- How do Octopus Shape Shifters tariffs work?
- What business export tariffs does Octopus offer?
- How does the Octopus Energy business referral code work?
- How much does Octopus business energy cost?
- What should you check before switching?
- How to switch your business energy to Octopus
- Octopus Energy business FAQs
- Conclusion
What Is Octopus Energy for Business?
Octopus Energy for Business is the company’s energy proposition for business customers rather than households. Octopus says its business offering is available to businesses of different sizes, from smaller companies through to larger commercial organisations.
At its simplest, a business can approach Octopus for its electricity and gas supply in much the same way that a household can request a domestic energy quote. However, the products available to businesses extend beyond straightforward energy supply.
Octopus currently offers options for SMEs, businesses operating across multiple sites and larger commercial organisations. It has also developed smart business tariffs designed for companies capable of changing when they consume electricity, as well as export tariffs for businesses generating or storing their own energy.
One characteristic of the Octopus business proposition is its direct sales model. Octopus says it sells its business energy directly rather than through price comparison websites, with the aim of keeping the process straightforward and offering its rates directly to customers.
This means that if you’re trying to compare Octopus with another business energy supplier, you may need to obtain an Octopus quote directly rather than expecting its current business rates to appear alongside every supplier on a comparison website.
There are also more specialised options depending on your company.
A business operating several premises can investigate Octopus’s multi-site offering, which allows multiple locations to be managed as a joint portfolio. Octopus says switching, renewals, billing, account management and support can then be handled across the portfolio.
Businesses capable of changing when they use electricity may instead be interested in Shape Shifters. Companies with solar panels or batteries can investigate Octopus’s business export products, while larger commercial customers have access to products such as Electric Match.
The result is that “Octopus business energy” isn’t one single tariff suitable for every company. The product worth considering depends heavily on how your business operates and consumes energy.
What Is the Octopus Energy Business Referral Offer?
The Octopus Energy business referral provides an additional incentive for an eligible business switching to Octopus through a referral.
As of 18 August 2026, the Octopus Energy Business referral offer is a £150 total reward, split equally between the two parties. The business switching to Octopus receives £75 and the referrer receives £75.
This differs from the standard household referral offer. Octopus’s current referral information says a qualifying home referral receives £50 each, whereas a business or charity referral receives £75 each.
Our Octopus Energy Business referral code is: reed-goose-229
If you’re considering switching your business energy to Octopus, you can use our dedicated Octopus Energy business referral link to start your quote and check the current offer.
The £75 Octopus Energy business referral offer is useful, but I wouldn’t make it the deciding factor when choosing your business energy supplier.
For many companies, energy expenditure over the life of a business energy agreement will be considerably greater than £75. Even a relatively small difference in the underlying energy costs could therefore outweigh the value of the referral credit.
Think of the Octopus Energy business referral as an extra benefit if the underlying energy proposition already makes sense for your company.
Start by comparing the tariff, unit rates, standing charges where applicable, contract terms and estimated costs. If Octopus is competitive for your particular business, the £75 referral credit then becomes a worthwhile additional benefit.
It’s also worth checking the referral amount when you switch rather than assuming the £75 offer will remain available indefinitely. Referral promotions can change, and this article reflects the offer available when it was checked on 18 August 2026.
What Octopus Business Energy Tariffs Are Available?
Octopus offers several different business energy products, and this is where the proposition becomes more interesting than simply looking at the Octopus Energy business referral offer
For businesses looking for relatively conventional energy supply, Octopus offers standard business energy options alongside fixed-term products. Octopus’s current help information also confirms the existence of 12-month fixed, 24-month fixed and No Standing Charge business tariffs.
A fixed business energy tariff can be attractive to a company that values predictability. Broadly, fixing means agreeing the relevant energy rates for the contract period rather than having those rates move with the market.
That doesn’t mean your total bill is fixed. A business that consumes more energy will still generally pay more because the amount consumed remains important. The benefit is greater certainty around the applicable rates.
There are also contractual considerations. Octopus currently states that exit fees apply to 12 Month Fixed, 24 Month Fixed and No Standing Charge business tariffs agreed after 1 July 2024. It lists exemptions including businesses moving out of their property, Shape Shifters customers and customers within the final 30 days of their contract or whose contract has ended.
That’s a good example of why businesses should look beyond the headline unit rate. Contract flexibility can matter, particularly if you’re likely to relocate, change premises or restructure during the term.
Octopus has also offered a No Standing Charge business tariff. Rather than charging a fixed daily standing charge, the product is structured around what the business consumes.
Whether that represents good value depends on your individual quote and consumption profile. “No standing charge” doesn’t automatically mean “cheapest overall”, because the total cost of a tariff depends on all of its charges and how much energy your business uses.
Beyond these more conventional options, Octopus has increasingly developed smart products specifically for businesses. These are particularly relevant to companies capable of adjusting when they consume electricity.
How Do Octopus Shape Shifters Business Tariffs Work?
Shape Shifters is Octopus’s smart tariff range for business customers. The basic principle is that a business can potentially reduce its electricity costs by moving consumption away from more expensive periods.
Octopus currently offers two versions called Shape Shifters: Trio and Shape Shifters: Agile.
Shape Shifters: Trio
Shape Shifters: Trio divides the day into different pricing periods. Octopus describes it as providing 21 hours of cheaper electricity each day, with three different rates applying across the day.
The concept could be particularly interesting for a business that has some control over when energy-intensive activities take place.
Imagine a company that charges equipment, runs machinery, heats stored water or performs other electricity-intensive processes. If some of that activity can be moved away from the most expensive period without disrupting the business, a time-based tariff may offer opportunities that a conventional flat-rate tariff doesn’t.
That doesn’t mean Shape Shifters will automatically be cheaper for every business. A company that consumes most of its electricity during the expensive periods and cannot shift that usage could have a very different experience.
Shape Shifters: Agile
Shape Shifters: Agile takes the concept further.
Octopus launched the product for SMEs with electricity prices that change every 30 minutes according to real-time energy costs. Customers can access the following day’s prices through a dedicated portal and adjust consumption accordingly.
This makes the tariff much more dynamic.
For a business capable of actively managing its electricity consumption, half-hourly pricing creates the possibility of concentrating usage when electricity is cheaper. But it also introduces more complexity than simply knowing that your electricity costs the same unit rate throughout the day.
The important question isn’t therefore “Is Shape Shifters cheaper?”
It’s:
Can your business realistically change when it uses electricity?
If the answer is yes, it’s worth investigating. If your business has little or no flexibility over its operating hours or energy-intensive processes, a simpler product may be easier to manage.
What Business Export Tariffs Does Octopus Offer?
Businesses that generate or store electricity have another set of Octopus products to consider.
Octopus currently offers two main business export options: Panel Power and Shape Shifters: Export.
Panel Power
Panel Power is designed for businesses with solar panels. Octopus currently advertises a flat export rate of 12p for every unit of electricity exported to the grid.
The attraction here is simplicity. A business generating more solar electricity than it needs at a particular time can export that surplus and receive payment for it at the applicable rate.
Shape Shifters: Export
Shape Shifters: Export is more dynamic. Export prices change every half hour in line with wholesale energy costs.
Octopus positions this particularly towards businesses with battery storage. A business can potentially store electricity when appropriate and export stored energy when export prices are higher.
Octopus currently suggests Panel Power for businesses that have solar generation without battery storage, while Shape Shifters: Export may be better suited to businesses with batteries or a combination of battery storage and generation.
These products aren’t relevant to every company, of course. If your business has neither on-site generation nor battery storage, an export tariff isn’t something you need merely because you’re switching supplier.
But for a business investing in solar panels or storage, export arrangements can become an important part of the overall energy calculation.
Instead of looking only at how much electricity costs to import, the business can also consider what happens to surplus electricity it produces.
How Does the Octopus Energy Business Referral Code Work?
If you’ve arrived here specifically searching for an Octopus Energy business referral code, our referral code is reed-goose-229.
For a business switching online, the simplest approach is to use the associated referral link: https://octopusbonus.co.uk/recommends/octopus-business/
The referral link allows you to start the relevant journey with Octopus and review the current business energy offer.
Octopus’s own referral information explains that customers have unique referral links and that referring a business currently results in £75 credit for each side of a successful referral.
One useful point is that forgetting the link doesn’t necessarily mean the referral is automatically lost.
Octopus says that if someone forgets to use a referral link but signs up directly through the Octopus website, they can contact Octopus and provide the referral code. Octopus says it can then add the referral to the relevant accounts.
That said, using the referral link from the outset is still the cleaner approach. It reduces the need to contact Octopus afterwards and makes the intended referral clear from the beginning.
The business referral shouldn’t be confused with Octopus’s separate Current Account affiliate programme either. Current Account is designed for qualifying businesses that want to refer their own customers to Octopus, rather than businesses looking for a referral when switching their own energy supply. As of August 2026, Octopus says new Current Account registrations are temporarily closed until autumn 2026.
For the purposes of this guide, we’re talking about the former: your business is considering becoming an Octopus Energy business customer and wants to use a referral when switching.
How Much Does Octopus Business Energy Cost?
There isn’t one useful national figure I can give you for the cost of Octopus business energy.
Your business quote can depend on factors including the amount of electricity or gas you consume, your meter and supply characteristics, the tariff selected and other details specific to your premises.
For some business tariffs, Octopus also uses electricity bands. Octopus explains that for non-half-hourly customers the band is based on annual electricity consumption, while for half-hourly customers it can depend on the site’s power capacity and voltage level.
That makes quoting a generic “Octopus business electricity price” potentially misleading.
The more useful approach is to obtain a quote for your actual business and compare the components of that quote.
Pay attention to the unit rate, which determines what you pay for the electricity or gas you consume. Also look at any standing charge and the expected cost based on your usage.
Then consider the contract structure.
If you’re comparing a fixed product against a smart tariff such as Shape Shifters, don’t compare a single headline number in isolation. The tariffs work differently, so your consumption pattern becomes part of the calculation.
A business that can shift substantial electricity usage away from expensive periods may evaluate Shape Shifters very differently from a company that has to use most of its energy during a fixed operating window.
Similarly, a business with solar panels and batteries may want to consider both the cost of imported electricity and the potential value of exported electricity.
This is why I would avoid claims such as “Octopus is the cheapest business energy supplier” unless they are supported by a genuine comparison for the particular business concerned.
Get the quote and compare the numbers relevant to your company.
What Should You Check Before Switching Business Energy to Octopus?
The Octopus Energy business referral gives you a £75 incentive, but there are several more important things to examine before signing a business energy agreement.
Start with the total expected cost rather than the Octopus Energy business referral offer. Compare the unit rates, standing charges where applicable and estimated cost using a realistic picture of your company’s consumption.
Next, look at the contract length and exit conditions. Octopus currently applies exit fees to certain business fixed and No Standing Charge tariffs, so understand the terms before committing.
Consider your consumption pattern too. If your business can move significant electricity usage to different times of day, a product such as Shape Shifters may deserve closer investigation. If you can’t control when you consume energy, the benefits of a time-based tariff could be more limited.
Businesses operating from several premises should investigate multi-site management. Octopus says its multi-site proposition can combine switching, renewals, bills, support and online account management across a portfolio.
If you have solar panels or battery storage, consider export as well as import. The value you can receive for surplus generation may form part of your overall energy decision.
Customer service and account management matter too. Energy isn’t merely another subscription for many businesses. Billing errors or account problems can create administrative work and affect cash flow, so think about the service experience as well as price.
Finally, remember that business energy arrangements and consumer protections aren’t identical to domestic energy. Read the terms applicable to the business contract you’re actually accepting rather than relying on assumptions based on your home energy account.
Our forthcoming Octopus Energy review will examine Octopus more broadly, while our Octopus Energy tariffs guide will concentrate primarily on the domestic tariff proposition.
How to Switch Your Business Energy to Octopus
If you’ve researched the available products and want to see what Octopus could offer your business, the next step is to obtain a quote.
1. Start through the business referral
You can use our Octopus Energy business referral code to begin the process: Referral code: reed-goose-229
2. Enter your business details
Provide the information Octopus needs to identify your business energy supply and generate the relevant options.
3. Review the available tariff
Don’t jump straight from seeing the £75 referral offer to accepting the first quote.
Look at the tariff, rates, expected costs and contract conditions. If you’re offered multiple options, consider how each one fits the way your business actually uses energy.
4. Compare it with your current arrangement
Look at what you’re currently paying and any alternative offers you’ve obtained. Make sure you’re comparing like with like wherever possible.
5. Complete the switch if it makes sense
If you’ve decided the Octopus offer is suitable, you can proceed directly with Octopus.
Octopus says switching does not require an engineer or installer visit and should not cause disruption to the energy supply. Its business switching proposition is also backed by the Energy Switch Guarantee.
The Octopus Energy business referral offer is then handled as part of the qualifying referral process.
The objective isn’t simply to get £75. It’s to find an energy arrangement that works for your business and, if Octopus is the supplier you choose, make sure you don’t unnecessarily miss an available referral benefit.
Octopus Energy Business FAQs
What is the Octopus Energy business referral offer?
The current Octopus Energy business referral provides £75 credit for the qualifying business that switches and £75 for the referrer, making the total Octopus Energy business referral offer worth £150.
What is your Octopus Energy business referral code?
Our referral code is reed-goose-229. You can use our dedicated business referral link to start your Octopus business energy quote and check the current offer.
What business energy tariffs does Octopus offer?
Octopus offers conventional business energy products alongside smart products including Shape Shifters: Trio and Shape Shifters: Agile. It also provides multi-site solutions and specialised products for larger commercial customers.
What is Octopus Shape Shifters?
Shape Shifters is a range of smart business electricity tariffs designed to reward businesses that can shift electricity consumption away from more expensive periods. Current versions include Trio and Agile.
Does Octopus offer fixed business energy tariffs?
Yes. Octopus’s current business information references 12-month and 24-month fixed business tariffs. Check your individual quote for the current rates, availability and contract conditions.
Does Octopus offer a business tariff without a standing charge?
Octopus has a No Standing Charge business tariff where charges are structured around energy consumption rather than a set daily standing charge. Check current availability and the complete quote before deciding whether it represents better value for your business.
Can businesses with solar panels export electricity through Octopus?
Yes. Octopus currently offers Panel Power, which pays a flat rate for qualifying business solar exports, and Shape Shifters: Export, which uses half-hourly export pricing.
Can I add an Octopus business referral code after signing up?
Octopus says customers who signed up directly through its website but forgot to use the referral link can contact the company and provide the referral code so the referral can be added.
Can charities use the Octopus business referral offer?
Octopus’s current referral information says business or charity account referrals receive £75 each under the current offer.
Does Octopus support businesses with multiple locations?
Yes. Octopus offers a multi-site business energy proposition that allows businesses to manage multiple sites as a joint portfolio, including billing, renewals, switching and account management.
Is Octopus Energy regulated by Ofgem?
Yes. Octopus operates in Great Britain’s energy market, which is regulated by Ofgem. Business customer protections can differ from those applying to domestic consumers, so read the terms relevant to your business contract.
Is Octopus business energy cheaper?
There isn’t a universal answer. Business energy pricing depends on the individual business, tariff and consumption profile. Get a quote and compare the total expected costs and contract conditions against the alternatives available to your company.
Should I switch just for the £75 Octopus Energy business referral reward?
No. The Octopus Energy business referral should be treated as an additional benefit. Compare the underlying energy price, tariff, contract terms and suitability first.
Conclusion
The Octopus Energy refer a friend scheme is fairly straightforward once you understand how the referral is tracked and when the Octopus Energy business referral reward is applied. For eligible new customers, the current offer provides £50 energy credit when the qualifying referral conditions are met.
The simplest way to use the offer is to begin your switch through the appropriate referral link rather than treating the referral code like a conventional checkout voucher. Our referral code is reed-goose-229.
Before switching, I would still check the tariff, estimated annual cost and terms shown by Octopus Energy. The Octopus Energy refer a friend reward is useful, but it should be treated as an additional benefit rather than the sole reason for choosing an energy supplier.
If you’re unsure whether you qualify, check the latest Octopus Energy referral terms before completing your switch. If you’re already an Octopus customer, remember that the standard Octopus Energy refer a friend process is primarily designed for referring eligible new customers rather than applying a new-customer reward retrospectively to an existing account.
If you’re happy with the tariff and want to proceed, use the referral link associated with reed-goose-229 so the referral can be tracked from the beginning of the signup journey.
Ready to Check the Current Octopus Energy Refer a Friend Offer?
If you’ve finished researching the Octopus Energy refer a friend scheme and want to see the current referral offer, our main referral page contains the code, referral link and screenshots showing what happens when you start the quote process.
When you’re ready, the referral link will take you to Octopus Energy to get your quote. Before completing the switch, check the tariff, estimated cost and terms presented by Octopus.
The Octopus Energy business referral offer is useful, but it should be one part of your decision rather than the only reason you change energy supplier.
Information checked: August 2026. Octopus Energy business referral rewards, eligibility requirements and programme terms can change, so check the latest Octopus Energy information before switching.
