Octopus Energy has doubled its Octo Assist financial hardship fund to £15 million, according to an Energy UK briefing published on 8 December 2022. The fund was created at the start of the energy crisis at £5 million, was later increased to £7 million, and is now being doubled again1.
The briefing states that the fund has already helped more than 50,000 customers1. Octo Assist is described as dedicated to helping customers who are unable to afford the cost of living1.
"The fund has already helped over 50,000 customers and recently got increased in size to £7m, and is now being doubled to £15m."
The Octo Assist figure sits within wider supplier support. Energy UK says suppliers in the UK provide discretionary support of around £54 million on top of the more than £1 billion in mandatory schemes they deliver every year, including funding for the Energy Company Obligation and the Warm Home Discount1. All major retail suppliers have their own funds, independently managed by fund administrators or in partnership with consumer bodies such as Citizens Advice1.
Other suppliers' figures in the same briefing include OVO, which announced a new £50 million Customer Support Package, and British Gas Energy, which will donate 10 per cent of all profits to the British Gas Energy Support Fund for the duration of the energy crisis, with an immediate £12 million donation described as double the previous contribution and more than 10 per cent of first half pre-tax profits1. EDF Energy doubled the financial support available to its customers in 2022 to £10.4 million and increased its Customer Support Fund by £5 million to a total of £6.4 million1. E.ON's Energy Fund stands at over £3.5 million, with more than 10,000 awards totalling nearly £6 million made1.
| Supplier | Support figure reported |
|---|---|
| Octopus | Octo Assist doubled to £15m; previously £7m, created at £5m |
| OVO | £50m Customer Support Package |
| British Gas Energy | 10 per cent of profits to support fund; £12m immediate donation |
| EDF Energy | £10.4m total financial support in 2022; Customer Support Fund £6.4m |
| E.ON | Energy Fund over £3.5m |
Why it matters for households
Hardship funds are discretionary: they sit outside the mandatory schemes such as the Warm Home Discount and are administered by suppliers or independent trusts, so eligibility and award sizes vary by company1. For a household in arrears or struggling with bills, the practical route to this money runs through the supplier's own affordability team or its linked charity, not through a single national scheme. The briefing notes that suppliers have increased customer service resource, from hiring more front-line advisors to setting up dedicated affordability support teams, and that payment holidays, restructured payment plans and credit advances for prepayment meter customers have continued since the start of the Covid-19 pandemic1.
For a home's energy independence, the sums involved are relief against bills rather than a change in how energy is supplied or paid for. The briefing frames the context as one of supplier exits: since August 2021, 30 suppliers have exited the market, and it states that more supplier failures will lead to higher bills1. Discretionary funds depend on the financial position of the supplier providing them, which is why the amounts differ so widely between companies.
What happens next
The briefing does not set out a closing date for Octo Assist or state how the doubled £15 million will be allocated. No application deadline, eligibility criteria or award range for the Octo Assist fund is given in the briefing1.