In June, we sent out an email about OctoFlex, HB16, and the future of wholesale energy. In case you missed it, House Bill 16 — the bill that bans residential index wholesale energy pricing — has unfortunately passed and has been signed by Governor Abbott. As of September 1st, 2021, we can no longer enroll new customers or renew customers on our month-to-month, wholesale index pricing plan (OctoFlex).
We know we have die-hard fans of OctoFlex. So, we’re offering one-time renewals, which will last for the next five years. Yes, you can opt in to OctoFlex, for the next five years at the link below. OctoFlex will only be available to sign up through August 31st, 2021.
Take a look at the OctoFlex EFLs, here
We’ve anticipated some of your frequently asked questions about OctoFlex and the next 5 years. Feel free to email us at email@example.com if you don’t see an answer to your question.
How long is the OctoFlex plan?
The new OctoFlex plan will be active for 5 years, starting on the date of your registration.
Am I locked into a contract?
Like all of our plans, we offer a flexible contract. OctoFlex is a 5-year product, but you’re free to leave at any time without penalty.
If I leave OctoFlex, can I rejoin?
Unfortunately, no. If you decide to cancel your contract, you can not rejoin OctoFlex. However, you are free to join any of our other plans.
If I move, can I transfer my OctoFlex plan to the new address?
If you move to another residence in Texas, you transfer your plan to the new address. To do this, please give us a call at 833-OCTO-888, and one of our Energy Specialists will be available to assist you.
Remind me, how does OctoFlex work again?
OctoFlex is a wholesale indexed energy product. We pass along the real-time market price to you, which is determined every 15 minutes. Most of the time, this means you’re getting the best deal on energy.
I got a very high bill during the Texas Energy Crisis. How can I be sure this won’t happen again?
During the Texas Energy Crisis, all wholesale indexed energy products throughout the state were capped at $9000/MWh. OctoFlex is now capped at $2000/MWh, meaning you won’t see energy rates skyrocket like they did previously, through the end of this year. As of January 1, 2022, the cap will be raised to $9/kWh as determined by ERCOT. OctoFlex energy prices are subject to market fluctuations. We send alerts and predict when prices will rise in the Octopus Energy app. Please enable your notifications so that you get these alerts and can adjust your energy use accordingly.