Octopus Energy reviews: Give your feedback

Telegraph_Sam

You must have to read the various Go Faster rate panels in conjunction with the standard "Go" panel. That said, there are some surprising variations within the various off peak rates, some at 14.99 p depending on the time slot according to what I read. 

BargainBear

I've been contemplating switching to the Go Faster tariff as the tracker has gone up to 18.96p for electricity in our region.

Go Faster is currently 16.26p with standing charge of 25p.



Still not sure what I'm going to do about Gas but I'll do something this weekend,  the tracker is currently at 4.45p.

Flexible is currently at 3.15p with standing charge of 21p. I'll have to do some research elsewhere but the gas prices look to be on the up

If the industry really is going to turn it's back on Gas like the media is intimating, perhaps it's time to look into a decent solar option for the house, and jump on the heat pump wagon sooner rather than later.

niktheguru

Telegraph_Sam said:

You must have to read the various Go Faster rate panels in conjunction with the standard "Go" panel. That said, there are some surprising variations within the various off peak rates, some at 14.99 p depending on the time slot according to what I read. 

No Sam, you are getting slightly sidetracked.

The prices are what I have stated in my previous post. The off peak prices depend on the duration of time you have the off peak period but the start time of the off peak period has no effect on the price

The peak (higher) price is the same on all these tariffs for your region. Some regions are more expensive than others. The North East is on the cheaper side.

If still unsure please read the guy lipman go faster page. It has all the prices.

https://www.guylipman.com/octopus/formulas.html

Telegraph_Sam

I'll have to give this some more thought. The message seems to be that the 4, 4.5, or 5p off peak price depends on BOTH when the chosen timeslot starts AND the selected duration. The remaing time is then billed at the uniform regional rate with the North East correctly being favoured

MWT

Telegraph_Sam said:

I'll have to give this some more thought. The message seems to be that the 4, 4.5, or 5p off peak price depends on BOTH when the chosen timeslot starts AND the selected duration. 

No, you are confusing the need for a tariff for each valid time slot and duration with the simplicity of the actual price structure.

3/4/5 hours off-peak is 4.5p/5p/5.5p regardless of when you choose to start the period and which region you are in…

masonic

It's really easy, the tariffs are named using the following scheme: GO-XH-YY30-R

X = number of off peak hours and off peak unit price (either 3 = 4.5p, 4 = 5p, or 5 = 5.5p). All timeslots and regions the same

YY = start time of off peak hours. Off peak price and regions the same.

R = region, determining peak unit price for all variants of the tariff. Fixed based on where you live.

Standing charge is the same for all variants and all regions.

Pick X and YY to suit your usage patterns. That's all there is to it.

Telegraph_Sam

If I use Go Faster then R is selected automatically one assumes. Likewise the SC appears to be 25 p by default. Then I am faced with a "menu" of 21 X options corresponding to my start time and duration preferences. Each permutation costs me 4.5, 5, 5.5 or 14.99 p/kwh. Some of these sre mutually exclusive. I assume that the user selects and specifies which one he wants, and that he can take one only. The 14.99 options seem strangely out of line.
These are my deductions in the absence of guidance from Octopus. I have to decide on both my preferred start time and the period duration to determine my off peak unit rate.

I would appreciate feedback on whether the above interpretation is correct. Tks.
 

[Deleted User]

Telegraph_Sam said:

If I use Go Faster then R is selected automatically one assumes. Likewise the SC appears to be 25 p by default. Then I am faced with a "menu" of 21 X options corresponding to my start time and duration preferences. Each permutation costs me 4.5, 5, 5.5 or 14.99 p/kwh. Some of these sre mutually exclusive. I assume that the user selects and specifies which one he wants, and that he can take one only. The 14.99 options seem strangely out of line.
These are my deductions in the absence of guidance from Octopus. I have to decide on both my preferred start time and the period duration to determine my off peak unit rate.

I would appreciate feedback on whether the above interpretation is correct. Tks.
 

Go Faster is by invitation. Octopus reserves the right to change your Faster start time depending on the wholesale cost of energy. Rates are here:

https://www.guylipman.com/octopus/formulas

niktheguru

Telegraph_Sam said:

If I use Go Faster then R is selected automatically one assumes. Likewise the SC appears to be 25 p by default. Then I am faced with a "menu" of 21 X options corresponding to my start time and duration preferences. Each permutation costs me 4.5, 5, 5.5 or 14.99 p/kwh. Some of these sre mutually exclusive. I assume that the user selects and specifies which one he wants, and that he can take one only. The 14.99 options seem strangely out of line.
These are my deductions in the absence of guidance from Octopus. I have to decide on both my preferred start time and the period duration to determine my off peak unit rate.

I would appreciate feedback on whether the above interpretation is correct. Tks.
 

Sam, you're really overcomplicating it!

the standing charge is fixed at 25p a day
the peak rate in your area is fixed at 14.99p

The only things you need to decide is:
1. How long do you want the off peak rate to be, 3, 4 or 5 hours
2. What time do you want the off peak rate to start.

My recommendation for start time for someone who doesn't have an EV or want to load shift would be 8.30pm. This gives you a few hours in the evening whilst you are awake and using things to benefit from a low rate, thus reducing your overall price further.

At your low usage, whether you choose the 3, 4 or 5 hour plan is not particularly significant. I personally chose 5 hrs at the higher 5.5p rate, just so i had more time to be able to use electricity at a lower rate as i charge my electric car for example.

We've provided plenty of links in the last page if you need further reading about it. It really is no more complicated than that.

I would suggest you "sign up" to octopus GO first online, (even if you have already booked your smart meter install date) so that your online account indicates that the transfer is pending. Then once your meters have been installed email smart@octopus.energy and ask them to be moved to go faster.

niktheguru

BargainBear said:

Still not sure what I'm going to do about Gas but I'll do something this weekend,  the tracker is currently at 4.45p.

Flexible is currently at 3.15p with standing charge of 21p. I'll have to do some research elsewhere but the gas prices look to be on the up

If the industry really is going to turn it's back on Gas like the media is intimating, perhaps it's time to look into a decent solar option for the house, and jump on the heat pump wagon sooner rather than later.

Prob not worth going on a variable tariff, given prices are only increasing.
If staying with octopus you should fix the tariff,
Or if you want to go cheaper try Zog. I moved to So energy which is same price as octopus fix but used a £40 referral code to bring the price down (zog exit fee was too high for me right now).