Octopus Energy takes on Avro customers

[Deleted User]

wiseonesomeofthetime said:

As the tariff is variable, I guess they could increase it to the Cap, however, I doubt they will.

A lot will depend on the terms agreed with Ofgem, I assume.

This is an extract from the SoLR Regulations:

2.20. We will seek information on a SoLR’s proposed deemed contract rate.12 A SoLR’s deemed contract prices can reflect no more than the reasonable costs of supply (including costs attributable to the purchase of gas or electricity at short notice), together with a reasonable profit.

2.21. Once appointed, a SoLR will be able to charge the failed supplier’s customers on the basis of its deemed contract rate. This will cover the period from appointment until customers have agreed a replacement contract rate with the SoLR or another supplier of their choice, or the six month period of SoLR appointment expires, whichever is earlier. We will consider the SoLR deemed contract prices in terms of what is best overall for the customer groups involved.

MWT

2010 said:

The current cap of £1,277 is based on annual usage of 12000kwh of gas and 3100kwh of electricity.

Almost; the £1,277 figure has been adjusted to match the 2900kWh of electricity that suppliers are obliged to use when quoting, the cap is calculated using 3100kWh but that results in a figure of £1,319.05...

That figure is also based on paying by Direct Debit and being on a single rate tariff, there are other cap figures for multi-rate tariffs and both Pre-Payment meters and standard credit payments.

xlnc99

So i just went online to set up the DD. It turns out they have my correct name but the billing address is wrong and is some random address. You cant even edit it!


Anyone else see this issue when trying to set up a DD

elsien

xlnc99 said:

So i just went online to set up the DD. It turns out they have my correct name but the billing address is wrong and is some random address. You cant even edit it!


Anyone else see this issue when trying to set up a DD

I’ve not tried to set up a direct debit because I still have the Avro one and my understanding is that that will be transferred. 

wiseonesomeofthetime

My address isn't even shown on the account yet, so no way I am setting up a DD until I know ALL the details are accurate.

xlnc99

I would advise you all to make sure you check the details before you hit confirm....

M1ckab

I'm not setting up a new DD until I know the account has been switched and set up correctly. In fact I'm not doing anything until the last possible minute! 

bagand96

xlnc99 said:

Thanks -

So what is the amount everyone is paying for OCT direct debit? I was paying 165 for AVRO first contract then with £700 credit it went down to £115 for this year. I presume around £150 for Oct should be from my calculations

What other people are setting up as a DD is not really relevant as nobody will have the same use.

However, you can calculate what would be a sensible amount for you... If you know your annual use for Gas and electric then you can work it out using the Octopus tariff to work out your annual spend.  Divide by 12, and there you have your monthly DD figure.  You can then decide how much to take off it to account for your credit.

IAMIAM

Do octopus not allow pay as you go? I would rather load my account with £300 and let it dwindle down and reload rather than a regular DD.

QrizB

IAMIAM said:

Do octopus not allow pay as you go? I would rather load my account with £300 and let it dwindle down and reload rather than a regular DD.

I think as SoLR they *have* to allow it?