Putting Octopus Energy at the heart of the energy price cap debate

Newington moved swiftly to position Octopus Energy at the centre of the growing debate on energy prices, advocating regulatory change in the form of an energy price cap to protect energy customers and improve competition in the market.

Context 

The retail energy market is widely recognised as dysfunctional, with challenger suppliers effectively locked out of 70% of the market, insulating large incumbent utilities from competition. However, the tabling of a parliamentary debate on energy prices provided the opportunity to push a game-changing policy.

Strategy 

Using a range of techniques, Newington nimbly engaged MPs from all parties, providing them with strong, targeted, constituency-level evidence in support of a price cap.

Change 

Following an intense campaign to harness political dissatisfaction with the energy market to achieve positive legislative change, every major party included a commitment to a price cap in their Summer 2017 manifestos. In October 2017, the Prime Minister announced legislation to meet her election pledge. Since then, as the Bill has passed through parliament, Octopus has become a trusted source of information, briefing parliamentarians and giving evidence to parliamentary committees.  

Facts 
  • Newington supported Octopus to co-host a parliamentary drop-in session during which MPs from across parties learnt about the effects of higher energy prices on their constituents.
  • 27 MPs had their photos taken with an ‘energy price pledge’ placard.
  • A letter to the Prime Minister in support of the energy price cap gained 213 signatures from MPs, including 20 former Conservative ministers.