Octopus Energy reviews: Give your feedback

tlcgrantham

I have variable direct debits on both gas and electricity. My electricity is on a smart meter so about 2 weeks after they generate a bill they take the amount of the bill less any credits( wheel of fortune for example). This is roughly the same date each month. However my Gas is on a non smart meter so when I send a reading this generates the bill and about 2 weeks later they take the amount of the bill by direct debit less any credits.

masonic

Thanks both, it sounds like I should move across to this.

[Deleted User]

masonic said:

Thanks both, it sounds like I should move across to this.

I am having one of my dim days: it could be the sun; my age or both. Please explain to me how variable DD payments are better than a fixed DD payment?

Octopus hasn’t failed in 4 years to pre-notify me that it will be taking a DD payment on my agreed date; it has never argued when I have adjusted my DD amount, and any credit is 100% protected. 

Why the rush to variable payments?

tlcgrantham

It’s simply a matter of personal choice for me. Having waited 8months to get my credit back from a failed supplier I’d rather pay as I go and not build up a large credit.

masonic

Dolor said:

masonic said:

Thanks both, it sounds like I should move across to this.

I am having one of my dim days: it could be the sun; my age or both. Please explain to me how variable DD payments are better than a fixed DD payment?

Octopus hasn’t failed in 4 years to pre-notify me that it will be taking a DD payment on my agreed date; it has never argued when I have adjusted my DD amount, and any credit is 100% protected. 

Why the rush to variable payments?

There are a number of reasons. The first is that I've been through two SoLR processes and both times I had difficulty getting back the credit I was owed. One of these required the Energy Ombudsman to award it to me 6 months after my account was set up with the gaining supplier. The second reason is that the government support scheme is going to cover a significant part of my bills over the winter, meaning that my direct debit (already set at a fraction of Octupus' recommended amount) is going to lead me to build up a large credit balance. The third reason is that I can get cashback by paying by card, so my preference is to keep my account topped up this way and not pay anything by direct debit, although my current cashback offer is coming to an end soon so is of little bearing going forward.

As to what has prompted me to 'rush to variable payments', Octopus has removed the option to change these at the click of a link, so now it will be necessary to email or phone customer services, with time being of the essence if a payment is to be changed ahead of the amount being taken.

Northern_Wanderer

masonic said:

The third reason is that I can get cashback by paying by card, so my preference is to keep my account topped up this way and not pay anything by direct debit, although my current cashback offer is coming to an end soon so is of little bearing going forward.

You receive a discount by paying by direct debit either on fixed monthly or variable payments. If you pay by card your energy rates will increase. I am with you on not wanting to build credit as I have aslo been through 2 SoLRs, waiting a long time to get money back. We are all paying for the failed companies so I chose not to prop up energy companies that we will all pay for if any more go bust. It is a bit more hasstle though to save money each month towards winter.

masonic

Northern_Wanderer said:

masonic said:

The third reason is that I can get cashback by paying by card, so my preference is to keep my account topped up this way and not pay anything by direct debit, although my current cashback offer is coming to an end soon so is of little bearing going forward.

You receive a discount by paying by direct debit either on fixed monthly or variable payments. If you pay by card your energy rates will increase. I am with you on not wanting to build credit as I have aslo been through 2 SoLRs, waiting a long time to get money back. We are all paying for the failed companies so I chose not to prop up energy companies that we will all pay for if any more go bust. It is a bit more hasstle though to save money each month towards winter.

I've studied my bills and I can assure you that I have been charged exactly the same rate despite topping up my account by card as the sole means of covering these bills. I have maintained a credit balance and an active direct debit at all times, just cancelled or deferred each payment as it came along. As far as I'm aware, Octopus do not offer a discount for paying by direct debit, and I didn't get a discount in the past when paying by direct debit (not while I was on Flexible, Agile or Go Faster tariffs).

double_dutchy

Northern_Wanderer said:

You receive a discount by paying by direct debit either on fixed monthly or variable payments. 

If you are on a standard variable rate - i.e. a price capped tariff - then it's not so much a discount, it's simply that the price cap allows suppliers to charge more for payment by methods other than direct debit

masonic

double_dutchy said:

Northern_Wanderer said:

You receive a discount by paying by direct debit either on fixed monthly or variable payments.

If you are on a standard variable rate - i.e. a price capped tariff - then it's not so much a discount, it's simply that the price cap allows suppliers to charge more for payment by methods other than direct debit

I'm not on Flexible Octopus, but I don't see any evidence that Octopus do actually have alternative unit rates to support someone paying by methods other than DD. I don't believe any provider that offers the debit card top-up facility would charge extra if a customer uses it providing they maintain an active direct debit on their account. Some suppliers offer different agreed billing methods at different rates, but Octopus does not offer such options, other than for prepayment meters, as far as I can see. Needless to say, it would be unwise to choose a SVR tariff where payment is on receipt of bill.

MWT

masonic said:

... my direct debit (already set at a fraction of Octupus' recommended amount)...

...Octopus has removed the option to change these at the click of a link, so now it will be necessary to email or phone customer services, with time being of the essence if a payment is to be changed ahead of the amount being taken....

Those two things may well be related, as Octopus have not removed the ability to change payments from all customers...

... but variable DD is still a good choice for those who can cope with the high winter bills.

On a side note, the Government payments should not result in people building up large credit balances as the normal DD will be reduced by the amount of the Government payment (£66/67).