Renewing energy contract before contract end date

DJ123

Hi

This seems like a simple question, but I've not been able to find an answer anywhere! Hoping for some help. I am on a fixed duel fuel Octopus contract which is due to expire in late April this year. There's no early exit fees, and I don't especially want to change supplier. Anyone know if it's possible to renew my fixed contract now for another 12 months? A bit like switching to the same supplier!

Thanks

Andrew

Robin9

Yes you can  - but be aware that the new rates will apply immediately and not at the end of the contract.

MWT

DJ123 said:

Anyone know if it's possible to renew my fixed contract now for another 12 months? A bit like switching to the same supplier!

Just to be clear, you can move to any of their current tariffs when you want as there are no exit fees, and the new rate and contract period will take immediate effect, but you cannot 'renew' the fixed price contract you are on.

If you last renewed in April '20 I very much doubt that any of the current tariffs will be cheaper, so might be worth leaving it a little longer...

JohnB47

Robin9 said:

Yes you can  - but be aware that the new rates will apply immediately and not at the end of the contract.

This must be something particular to Octopus. I renewed my Avro contract a month before the current one is due to end and the new contract will start only when the current one ends (19th Feb). 

DJ123

Thanks both
MWT - I know that nothing will be as good now as last year, but I read this https://www.moneysavingexpert.com/news/2021/02/energy-bills-to-rise-for-11-million---act-now-to-beat-the-hikes/

So I figured I'd best renew now and get it locked in for another 12 months rather than leave it. What do you reckon?
Thanks
Andrew

[Deleted User]

Hi,

it may be that they will contact you near the end of your contract with an offer, which will start at end of your current deal, but if you were to switch now, new rates would apply now.