Octopus Go Martin Lewis new price rise update as he says 'doesn't sound great'

Octopus Go Martin Lewis new price rise update as he says 'doesn't sound great'The finance expert shared his views on the May 1 price riseCommentsMoneyCharlotte Smith Senior Lifestyle Content Editor09:11, 23 Apr 2026Updated 09:15, 23 Apr 2026View 2 ImagesMartin Lewis replied back to a customer on social media(Image: ITV)MoneySavingExpert (MSE) founder Martin Lewis has shared his views on an upcoming price increase for certain Octopus Energy customers. The energy supplier has notified customers of a price hike for both the Octopus Go and Intelligent Octopus Go (IOG) variable tariffs, which will take place from May 1, 2026.‌The overnight rate for Intelligent Octopus Go is reported to rise to 6.9p/kWh. The increase was announced on April 20, giving customers about 10 days' notice. However, even with the May 2026 adjustment to 6.9p/kWh, it still sits significantly lower than the standard national average.‌A customer reached out to Martin Lewis on X about the May 1 rate increase. Under the username @Ken_w_davies, they said: "@MartinSLewis Octopus putting up their Octopus Go rates from 1st May even though they brought them down just weeks ago for the drop in the price cap? Doesn’t sound right."‌Martin Lewis replied: "Doesn't sound great, but just to be technical. Octopus Go is not a price capped tariff so it didn't move due to drop in Price Cap. It dropped due to the removal of some govt policy costs from energy bills (which is the same reason the cap moved but still they're separate)."As its not priced capped and it is a variable tariff it is allowed to move the price as long as adequate notice is given. I'm afraid the only option is to ditch and switch elsewhere. You're supposed to get thirty days notice of yen changes some of you saying you got less.. We're going to check it out."Content cannot be displayed without consent‌Octopus Energy chief executive Greg Jackson said the company is not breaki...