Octopus Energy reviews: Give your feedback

wild666

bristolleedsfan said:

Octopus flexible tariff reported to be increasing from 2 April, £50 below cap  for existing customers

Meanwhile, the cost of default tariffs for new customers will be £1,969, £2 below the price cap.

Octopus Energy will be writing to customers over the coming days with their individual figures

https://uberturco.com/octopus-energy-is-first-supplier-to-announce-customers-will-pay-50-below-the-price-cap/

I expect my usage to be about 30% of the price cap, around £590, which is only £100 more than the last 12 months usage.  

BargainBear

Telegraph_Sam said:

I've had solar panels for several years now but whenever I've looked at battery storage the sums just didn't add up (perhaps new sums are on the horizon). Likewise when I started looking at heat pumps the downsides seemed to outweigh the upsides, apart from environmental considerations. I suspect that in the current circs environmental is going to be downrated in people's relative priorities until the present crisis is over. Sorry if this sounds cynical.

I'm hoping the push from the government to move away from Gas entirely will drive the influx in equipment providers and options, uptake and the subsequent reduction in prices due to competition. I think the US are seeing things move faster in this direction due to their larger population.

I agree with your cynical suspicions, just drove past the petrol station and prices already exceed £1.50, it's only going to get worse until things are resolved.

nadsat

Had the dreaded letter for 2 April rises. 
Electricity rate going up to 29.631p (from 20.58p), standing charge up about 8p to 31.878p
Gas rate up to 7.5075p (from 4.137p), standing charge only about a penny more. 

This is Flexible Octopus October 2021 v2. London address. 

They also say:
Today, we’re introducing a temporary Loyal Octopus support to help customers like you keep your bills as low as possible in this difficult time. The reward automatically reduces electricity charges by £48 per year compared to our standard tariff (that's £50 below the price cap).

QrizB

Well that's ominous.

Octopus's normal 12-month fix and loyal 12-month loyalty fix are now only 10 months!

• Octopus 10M Fixed March 2022 v1
• Loyal Octopus 10M Fixed March 2022 v1

Both have >40p/kWh for electricity and >12p/kWh for gas ...

Umiamz

QrizB said:

Well that's ominous.

Octopus's normal 12-month fix and loyal 12-month loyalty fix are now only 10 months!

• Octopus 10M Fixed March 2022 v1
• Loyal Octopus 10M Fixed March 2022 v1

Both have >40p/kWh for electricity and >12p/kWh for gas ...

Yes, I noticed that this morning. I'm going to see what happens when my Go Faster (average 11p/kWh) comes to an end next month and see what I get offered. I no longer have an EV so might have to just go on Flexible for both gas and electricity.

masonic

I've been looking at the Tracker tariff as a potentially useful short-term solution for low users. It appears from the All Our Tariffs page this has been held at 30p/kWh for the last couple of days, while the price scraped for bill calculation at the Guy Lipman site and 'today's price' at the demo site has been 36-40p/kWh. Someone might have mentioned that this tariff is currently capped, but I couldn't see anything from Octopus stating this. Does anyone know which unit price is correct and whether the apparent 30p cap is indeed applied as things stand?

Also, does anyone know where the price is being pulled from on the Guy Lipman site? I couldn't find the Tracker tariff in the Octopus API ( https://api.octopus.energy/v1/products/ ), so I don't know if he is just independently calculating via a wholesale price feed.

nadsat

masonic said:

I've been looking at the Tracker tariff as a potentially useful short-term solution for low users. It appears from the All Our Tariffs page this has been held at 30p/kWh for the last couple of days, while the price scraped for bill calculation at the Guy Lipman site and 'today's price' at the demo site has been 36-40p/kWh. Someone might have mentioned that this tariff is currently capped, but I couldn't see anything from Octopus stating this. Does anyone know which unit price is correct and whether the apparent 30p cap is indeed applied as things stand?

I got this email last September but switched to variable at that time as the tracker prices were going too high. It may well be that the caps still apply as the electricity at least is currently a bit higher than the post April variable rate. If these caps are still there they could be good for high usage users post-April too. 

---------------

Because you’re on our Tracker tariff, your energy prices change daily based on the wholesale cost of energy. Recently, wholesale energy costs have hit record heights, so we want to make a change to Tracker and bring in a maximum cap on the rates you could pay.

- We’re introducing a maximum cap on Tracker prices at 30p / kWh for electricity, and 6p / kWh for gas

MWT

masonic said:

I've been looking at the Tracker tariff as a potentially useful short-term solution for low users. It appears from the All Our Tariffs page this has been held at 30p/kWh for the last couple of days, while the price scraped for bill calculation at the Guy Lipman site and 'today's price' at the demo site has been 36-40p/kWh. Someone might have mentioned that this tariff is currently capped, but I couldn't see anything from Octopus stating this. Does anyone know which unit price is correct and whether the apparent 30p cap is indeed applied as things stand?

Currently there is an informal non-contractual cap of 30p on the electric and 6p on the gas. This has been in place for a few months now.

I would not assume that it will still be at that level for much longer though, especially with the April 1st price rises only two weeks away...

masonic

Thanks, it will be interesting to see what develops in the coming weeks. I was hoping for a seasonal dip in wholesale prices, but the way things are shaping up, that is looking increasingly unlikely. Without the cap, prices this month would have varied between 30-57p/kWh in my region.

Suezectn

I was switched from Avro to Octopus last year. I have been sent an email saying that direct debit payment will almost double.

We all know that prices are increasing, but this is much more more than I expected. 

When I checked their figures, Octopus are basing the new payment on electricity usage around 7 times my historic and actual (since moving to Octopus) kWh usage. 

Has this happened to anyone else?