Octopus Energy reviews: Give your feedback

Telegraph_Sam

Further on Gas / capped prices
Further attempts to answer my own questions resulted in what appears to be a simplification [I am trying to decide whether to switch gas from SO Energy to Octopus]
SO E one year fix - Iris - @ 12.53 p.  Offer now withdrawn
SO E standard variable - 7.22 p - capped  at this until October
Octopus Flexible [April 22 v 1] - 7.22p - capped at this until Oct
Octopus Tracker [v 3] - 10.51 - present cap = 11p. [Some confusion if Tracker is indeed capped but 11p is what I was told]
Octopus 1 year fix - 15.34 p
Octopus Loyalty 1 year fix - 14.88  p
Conclusions
It is getting increasingly difficult to get a fixed rate deal and even more so to get one that appeals depending on one's reading of the coming 12 months.
Tracker Gas is losing out at present compared with the capped standard variable tariffs.
There is little to chose between the SO E and Octopus standard variable tariffs assuming that one can join either and still benefit from the caps.
It's a watch-this-space so if anyone has anything to add to or amend on this I hope they will shout.

masonic

The benefit of the Tracker's cap is that it would (hopefully) stay the same for 12 months, whereas the SVT cap is going up significantly in October and perhaps again in January and April. It would depend on your usage between now and October, and whether Tracker has any cheaper days beyond that, as to which option would work out best.

Telegraph_Sam

If it is correct that the present Tracker price cap [11 p] would last 12 months that would indeed be a strong reason to reconsider and change my thinking. What grounds exist for believing that this is so?

Alnat1

Historically Octopus have kept the standing charge and unit cap the same for 12 months from the day you go onto the tariff. 

They haven't changed prices for people already on that version, if they've needed to raise prices then a new version has been created.

bristolleedsfan

Telegraph_Sam said:

If it is correct that the present Tracker price cap [11 p] would last 12 months that would indeed be a strong reason to reconsider and change my thinking. What grounds exist for believing that this is so?

I think I read you have been communicating with Octopus, ask them lets see what answer you get, Octopus only started launching new versions just over 3 months ago.

https://forums.moneysavingexpert.com/discussion/comment/79327281/#Comment_79327281


"Can you confirm the cap for octopus tracker Gas and is it fixed for one year?"

https://twitter.com/OctopusEnergy/status/1546403530130575360?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1546403530130575360%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fforums.moneysavingexpert.com%2Fdiscussion%2F6261575%2Foctopus-tracker%2Fp61

k_man

As above, historically they have not changed within the 12 months.
But there is nothing in the terms to explicitly state they will/can change or will not change the cap.
(Unlike the SC which is stated can be changed, albeit similarly hasn't historically).

Responses from Octopus customer service agents have been inconsistent.

tlcgrantham

Alnat1 said:

Historically Octopus have kept the standing charge and unit cap the same for 12 months from the day you go onto the tariff. 

They haven't changed prices for people already on that version, if they've needed to raise prices then a new version has been created.

I joined on Gas Tracker V2, which has a lower standing charge but the same Cap of 11pkw/h, 3 months ago and they haven’t changed my prices. 

Telegraph_Sam

This from Savers United would seem to contradict hopes that Tracker's cap would be any longer than Flexible's

"I spoke with Octopus CS a couple of hours ago regarding tracker, no problem if I want to switch tariff (gas only) but could not guarantee the 11p cap. Just said that markets are so volatile that the cap could increase anytime but that I would be given at least 30 days notice, added that if after 4 weeks it was not working I could switch to another tariff. 
Said the cap would likely change in October in line with Ofgem changes"

I agree with k_man's observations above. Speaking to the OS person on these matters is not very confidence inspiring.  In the circs going by precedent alone (no increase in cap during the lifetime of a particular version) could be dangerous. Worth investigating further though.

Northern_Wanderer

Telegraph_Sam said:

Tracker Gas is losing out at present compared with the capped standard variable tariffs.

How much gas are you likely to use until October? I estimated, based on previous years usage for Jul, Aug, Sep that if I get charged the cap of 11p I will pay £25 more in total compared to SVT, then will save come October. If wholesale is less, I will also save. But I should be protected from a hike in October. If the cap was changed, I may reconsider my position at any time.

Telegraph_Sam

I'd be prepared to "lose out" in terms of p/kWh gas over the summer if in return I got a better deal over the winter - such as being protected by a 11 p cap for 12 months. The problem is to establish if this is definitely what the current Tracker version offers