Octopus Energy reviews: Give your feedback

Umiamz

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

wild666

Umiamz said:

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

The £190 is the standing charges at 26p per utility per day

Umiamz

wild666 said:

Umiamz said:

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

The £190 is the standing charges at 26p per utility per day

That’s approximately true for the gas standing charge but electricity is less than 24p per day.

QrizB

Umiamz said:

wild666 said:

Umiamz said:

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

The £190 is the standing charges at 26p per utility per day

That’s approximately true for the gas standing charge but electricity is less than 24p per day.

The capped gas standing charge is the same throughout the country - £90.81 for DD payment, £107.01 for credit, £122.18 for pre-payment.

The capped electricity standing charge varies by region, and between single- or multi-rate accounts. For DD it could be as low as £81.02 or as high as £95.53.

All the info is tabulated here:

https://www.ofgem.gov.uk/sites/default/files/2021-08/Default tariff cap level - 1 October 2021 - 31 March 2022.pdf

Umiamz

QrizB said:

Umiamz said:

wild666 said:

Umiamz said:

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

The £190 is the standing charges at 26p per utility per day

That’s approximately true for the gas standing charge but electricity is less than 24p per day.

The capped gas standing charge is the same throughout the country - £90.81 for DD payment, £107.01 for credit, £122.18 for pre-payment.

The capped electricity standing charge varies by region, and between single- or multi-rate accounts. For DD it could be as low as £81.02 or as high as £95.53.

All the info is tabulated here:

https://www.ofgem.gov.uk/sites/default/files/2021-08/Default tariff cap level - 1 October 2021 - 31 March 2022.pdf

I was looking specifically at the Octopus tariffs.

masonic

Doesn't the cap only apply to the provider's SVR, so couldn't be applied as a 'rule of thumb' to all customers, some of whom may be on fixed tariffs? Not sure it is an argument for using such a rule of thumb in any case because the cap is just an upper limit, with providers able to set a lower standing charge if they wish (see Tracker).

Telegraph_Sam

Echoing Masonic's latest, for those that are following this topic from the sidelines it would be helpful if the tariff(s) in question could be specified in each instance. I doubt if a one-size-fits-all is any more likely than a rule-of-thumb. I was under the impression that a cap was a cap was a cap, but it seems that the milliners have come up with flexible, fixed and no doubt other forms of headgear to add to the confusion. For the sake of this correspondence Octopus may or may not be wearing said cap ...>> danger of misunderstandings.

QrizB

Umiamz said:

I was looking specifically at the Octopus tariffs.

OK then. You said:

Umiamz said:

wild666 said:

Umiamz said:

"add around £190"

Why? Just add the standing charges for gas and electricity together then multiply by 365.

The £190 is the standing charges at 26p per utility per day

That’s approximately true for the gas standing charge but electricity is less than 24p per day.

In the specific case of Flexible Octopus, in my region, the SC is 24.11p/day fdor single-rate electricity or 24.19p/day for E7. Both more than 24p/day, and both within a few pence of the Ofgem cap numbers (once you allow for VAT).

Using some relatives' addresses in other regions I find that their Flexible Octopus SCs are also within a few pence of the Ofgem document.

I accept that other Octopus tariffs have different SCs, some higher than the Ofgem cap, some lower. In the context of Koolerking's question, given that he is on Flexible Octopus, I think my reply is reasonable.

(Koolerking's flat, of course, is all-electric so the gas SC is a bit of a red herring.)

masonic

Oh, yes, I see Koolerking has provided a lot of information about his circumstances in that other thread, then jumped to this one to continue discussion. No wonder I've been struggling to follow along. So figure for standing charges should be £88 per year for Flexible Octopus.

Umiamz

OK - I was looking specifically at the tariffs for my region (East Midlands) where the majority of electricity SCs are (just) less than 24p per day.

I was also unaware that this was a continuation of another thread, so mea culpa.