Octopus Energy Promised Price Cuts ?

MikeM

I received the following cheerful email from Octopus Energy on 24/12/19. I enquired about the reduced prices today and their agent knew nothing about it ?

We're cutting your energy prices from 15th January 2020
Your electricity is still 100% green
Co–op, Flow and GB Energy customers are now fully managed by Octopus Energy

Hi,

As you know, thanks to the partnership between Co–op Energy and Octopus, your energy prices are falling.

Well, there's more good news to share: your prices are falling even further. Thanks to lower wholesale costs and Octopus's efficiency, we're reducing energy prices in January 2020.

As part of the process we'll be simplifying our tariff names. We'll send a full breakdown of the changes and your prices early in the new year.

Have a great day.
Love & power,
Pete Miller
Co–founder & Head of Customer Experience

Pete from Octopus Energy

Umiamz

I noticed that new fixed and Super Green fixed tariffs are available this morning:


https://octopus.energy/tariffs/

UnclaimedEnergy

Price cuts on their SVT (Flexible), Fixed and Super Green yesterday were about £20 each.

Not massive, A lot of others I've seen have been dropping their tariffs by about £70, however most of these are on fixed and not their SVT

However Octopus mainly focus on their Uswitch Exclusive being their cheapest anyway.

bristolleedsfan

Umiamz wrote: »

I noticed that new fixed and Super Green fixed tariffs are available this morning:


https://octopus.energy/tariffs/

I have Gas elsewhere for apparent reasons thus I can only comment on electricity tariff changes.

Octopus 12M Fixed - was and still is cheapest available excluding via Uswitch where as has been said tariffs are a lot cheaper.


Current E Tariff Unit rate 15.16p per kWh Standing charge 19.22p per day

New Tariff Unit rate 15.057p per kWhStanding charge 20.643p per day

Increase in Standing Charge with negible decrease in KWH rate is a disadvantage to very low Electricity customers


Only reason for me being with them, has been very easy to get £50 referral credits, most of those who sign up via referral links would have been better off over a 12 month period signing up to Octopus via Uswitch

Umiamz

I'm currently averaging 10.36p and 2.4p for E/G on Octopus Agile and Tracker.

bristolleedsfan

Umiamz wrote: »

I'm currently averaging 10.36p and 2.4p for E/G on Octopus Agile and Tracker.

To be fair you didnt refer in your earlier post to tariffs which are designed for those with Smart Meter and Electric vehicles to be charged overnight as those above are, you referred to Octopus general tariffs taken out by vast majority of Octopus customers


https://forums.moneysavingexpert.com/showpost.php?p=76728227&postcount=2

bristolleedsfan

UnclaimedEnergy wrote: »

However Octopus mainly focus on their Uswitch Exclusive being their cheapest anyway.

Current Tariff difference following todays price cuts for my postcode between cheapest Tariff which is 12 Month fixed available via Octopus website, same rates as via £50 refer a friend link

Electricity Tariff Unit rate 15.057p per kWh Standing charge 20.643p per day
Gas Unit rate 2.982p per kWh Standing charge 17.85p per day

And Octopus 12 Month Fixed rate tariff via Uswitch

Electricity Unit rate 14.091p per kWh Standing charge 19.22p per day
Gas Unit rate 2.562p per kWh Standing charge 16.80p per day

Chrishazle

This made me check Uswitch, Octopus and Avro as I'm paying 19.95p/d SC on both, 3.203 gas and 14.385 Elec, cheapest for my postcode is still Avro so using their online I've just renewed for 12 months commencing tomorrow at 16.8p/d SC, 2.956 gas and 13.545 Elec.

bristolleedsfan

Chrishazle wrote: »

This made me check Uswitch, Octopus and Avro as I'm paying 19.95p/d SC on both, 3.203 gas and 14.385 Elec, cheapest for my postcode is still Avro so using their online I've just renewed for 12 months commencing tomorrow at 16.8p/d SC, 2.956 gas and 13.545 Elec.

Looking at Gas rates you have mentioned you probably would have been better of switching Gas to Utility Point like I and many others have done, these are Gas rates for my postcode with UP Fixed until 5th February 2021 plus £25.00 account credit if friend code is used even if only Gas is switched

Unit Rate 2.6115p per kWh Standing Charge 11.55p per day, Standing Charge is £18.25 per year saving alone subject to area rate differences

silverwhistle

Umiamz wrote: »

I'm currently averaging 10.36p and 2.4p for E/G on Octopus Agile and Tracker.

My smart meter goes in tomorrow and following commissioning I'm also going on Agile. I've calculated that it'll be cheaper than Ebico on my low usage if I can get the average rate down to 16p or less. My only issue is electric cooking, but I often eat late or batch cook during the day.


Washing appliances are not an issue, nor do I have a high powered TV (no low powered either!). Did you do any significant change to habits to get the rate lower?

Umiamz

silverwhistle wrote: »

My smart meter goes in tomorrow and following commissioning I'm also going on Agile. I've calculated that it'll be cheaper than Ebico on my low usage if I can get the average rate down to 16p or less. My only issue is electric cooking, but I often eat late or batch cook during the day.


Washing appliances are not an issue, nor do I have a high powered TV (no low powered either!). Did you do any significant change to habits to get the rate lower?

I haven't made that many changes from when I was on the fixed tariff, to be honest. Obviously I choose the cheapest times to charge the car but, other than that, the cheaper daytime hours tend to fit in nicely with how I've always done things.