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youravinalarrrf

MSE Cheap Enery Club have sent out this email to members today:-

Octopus Energy has taken over your energy supply - what you need to know

Hello,

Just to let you know that after Avro Energy went bust on 22 September 2021, regulator Ofgem has appointed Octopus Energy to take over as your energy supplier and you've been moved on to your new Octopus tariff (if that's not right and you weren't with Avro, log in and update your details).

The energy market is in crisis, and the extent of it has been a shock. With prices firms pay at record highs, many suppliers will end up going bust during these unprecedented times.

Our big message though is DON'T PANIC… nothing changes for now, your gas and electricity will stay on and any credit balance you have is safe.

The process works like this...

Octopus is now supplying your energy. On 26 September, your deal with Avro ended and Octopus began supplying your energy (see below for tariff analysis). Octopus will work with Avro to get your details transferred over and a new account set up for you in the coming weeks.

1. Don't switch to a new provider until you've been fully switched over. While officially you're now an Octopus customer, the supplier still needs to finish transferring you over. Ofgem says you should hold off until this is complete, and Octopus has been in touch to say it has successfully set you up with a new account to avoid any issues.
2. Don't cancel your direct debit. Ofgem says there's no need and Octopus will automatically transfer your direct debit over. If you have already cancelled it, don't worry, Octopus will set up a new one.
3. Octopus will honour all credit balances, and any debt still needs to be paid. If you were in credit, this will be applied to your new Octopus account, so you can use that to pay for future usage, or you'll get it back from Octopus if you choose to switch away. If you have any debt, this will need to be paid either to Octopus or an administrator.

What tariff will I be on and is it any good?

Sadly, as a result of rocketing prices, you're likely going to pay more than you have been.

You have been moved to a special version of its standard Flexible Octopus variable tariff, which Octopus says is £10/year below the new price cap (from 1 October) on average and is cheaper than any of its fixed deals for new customers. Octopus's standard tariff for existing customers is £52/yr under the cap, based on typical use.

While not cheap, on average there are no deals cheaper than this right now for new customers due to the dire state of the market, so for most there’s no need to do anything.

We're working on getting your new tariff info into Cheap Energy Club, but if you want to check now roughly how much you’ll pay on the new rates, or you want to do a full-market comparison anyway for peace of mind, you can change your tariff details in your account yourself – select 'Flexible Octopus' as your tariff and do a comparison. You'll see what you’ll pay on that tariff at the top of the results page, followed by the cheapest deals out there (just remember this tariff is about £40/yr cheaper on typical use than the version you’ll be on, so factor that in).

And remember, even if you do find a tariff you want to switch to, you should wait until Octopus has been in touch to say it has successfully set you up with a new account.

How does Octopus rank for service and is it green?

Octopus is a well-established firm with more than two million customers. It came top in our latest customers service rankings, with a score of 4.2/5. In comparison, Avro scored 3.8/5.

Octopus is also 'greener', offering 100% 'renewable' electricity on its Flexible Octopus tariff. Avro didn't offer 'renewable' electricity on any of its tariffs.

Will I still get any warm home discount payment I am due?

If you usually get the warm home discount as part of the core group (so you don't normally apply for it but are entitled to it), you will still get it automatically from Octopus. If you usually apply for the warm home discount as part of the 'broader group' you will need to apply with Octopus.

Octopus says please don't do this yet – it will contact all customers soon, when your account is set up, with instructions on how to do this. All warm home discount credits will be applied to your account by 31 March 2022.

Thanks
The MoneySavingExpert Cheap Energy Club team

Consumerist

youravinalarrrf said:

MSE Cheap Enery Club have sent out this email to members today:-

Our big message though is DON'T PANIC… nothing changes for now, your gas and electricity will stay on and any credit balance you have is safe.

It's all very well to say 'don't panic' but some people are going to find the increased charges a bit of a burden.

Thesaltmustflow

Consumerist said:

youravinalarrrf said:

MSE Cheap Enery Club have sent out this email to members today:-

Our big message though is DON'T PANIC… nothing changes for now, your gas and electricity will stay on and any credit balance you have is safe.

It's all very well to say 'don't panic' but some people are going to find the increased charges a bit of a burden.

Very true and although I'm 'lucky' to be able to afford the big price increases (not feeling guilty about being able to afford it as I work damn hard as I'm sure others do of course) a lot of my money saving exercises have literally gone down the pan now.

Consumerist

Yes, word has it that toilet rolls are again becoming difficult to find.

wrongplanet

MWT said:

The process of entering administration for an energy supplier is a bit different to other UK companies.

Someone from a company specialising in handover like this and currently involved was interviewed on R4's Today this morning. Thought I could remember the name but went back to sleep - Something Pathway?

youravinalarrrf

Latest Octopus update for Avro customers:-

UPDATE 12.30PM SATURDAY 2 OCTOBER.

We are continuing to work 24/7 to respond to Avro customers - please do bear with us whilst we get back to you as it's been a little busy this week. In the meantime, please do have a look at our Frequently Asked Questions section (see above for quick link) to see if your query can be answered there.

We yesterday emailed any Avro customers who was switched to them by the 'Flipper' service, as we've been given up to date contact details for you - please check your junk mail if you haven't heard anything.

If you think you are an Avro customer, and haven't heard from us at all yet, please email us on avro@octopus.energy and we will investigate.

Please be reassured that you will not be left without power, and if you have a credit balance with Avro, it will be transferred safely to your Octopus Energy account.

SnowMan

Looks to me like the new Octopus Flexible tariff for former Avro Energy customers is going to be Flexible Octopus v2 which you can choose as your tariff in the cheap energy club and see the unit rates and standing charges for your region etc. Flexible Octopus v2 is not to be confused with Flexible Octopus which is cheaper than Flexible Octopus v2 but won't be available to us.

If I look at that Octopus v2 tariff I can see that for average usage it is about £10 per annum cheaper than the energy cap, which is why I think that looks like it's going to be our tariff.

Anybody else come to the same conclusion?

MWT

That is the one we have been suggesting in various posts on here for a while.

The full name of the tariff is 'Flexible Octopus October 2021 v2', the previous version is not available to any new customers as it is not a current tariff.

wrongplanet

MWT said:

That is the one we have been suggesting in various posts on here for a while.

The full name of the tariff is 'Flexible Octopus October 2021 v2', the previous version is not available to any new customers as it is not a current tariff.

Plugged the figures into my spreadsheet and it gives a monthly figure of £88 compared to the £65 I was paying Avro. Doesn't look too bad but it's an extra £276 a year. Looks like a good time to give up alcohol...

Consumerist

And not too much headroom under the cap for major increases until April - assuming the cap remains unchanged until then.