Do nothing or revert? Octopus

YummyPancake

Thanks…. Yes the 2 year fixed I have chosen is no longer available.  New fixed is for 1 year but at higher rate.  So if I ‘undo’ to go back to flexible rate and change my mind, I cannot get this 2 year fixed anymore, would be a 1 year higher fixed rate.  Hence giving me a headache!  

YummyPancake

bristolleedsfan said:

O/P what % gas annual would you imagine using April 1st-30 September

Difference between gas fixed rate in screenshot compared with flexible is about 2.23pkwh based on current flexible octopus version, if use 9000kwh during winter months difference in cost is about £200

Difference in  electricity rates is about 5pkwh based on current flexible octopus version

It gives paying in advance a whole new meaning, certainly it is better for Octopus Energy when its customers choose to pay higher rates during winter months than capped rates which is why a few weeks ago they were recommending customers change to fixed even those who were not asking for a recommendation or advice.

Good point… With working from home, my gas bill will be more than normal in winter.

no one has crystal ball for prices in 6 months time but one thing for sure is energy usage will definitely go up during winter months.  If I decide to ‘undo’ then it would bite me some time to ride through the storm, perhaps.  

MWT

A one year fix above the cap is not a good deal at this time if you use the majority of your annual consumption during the winter months as you might just as well roll the dice on the SVT as the impact of a rise in 6 months time is much lower than it would be over winter.

The 2 year fix is a gamble about what will happen next winter, not this one...

SPOWER

MWT said:

I'm not including Neon Reef in that statement as I still feel it is a travesty that they are allowed to continue to trade and run up more costs to be passed on to the rest of us when they inevitably fail. Sooner they are out of business, the happier I will be.

I am due 6 lots of £30 compensation still from Neon Reef but it's taking an age for them to reply to my complaints.  From a selfish point of view, I am happy for all the panic buyers to continue to sign up to them in the hope they trade a bit longer and get round to dealing with my accounts.  PANIC BUYERS ARE WELCOME @ NEON REEF

dougsdir

Can anyone tell me the current unit prices (and Daily charges)  for gas and electric on the Flexible Octopus tariff?
Im a bit in limbo just now as avro went bust mid switch so I never received any communications from them since I applied to switch. I know the switch happened as they took 1 direct debit payment..

GingerTim

SPOWER said:

MWT said:

I'm not including Neon Reef in that statement as I still feel it is a travesty that they are allowed to continue to trade and run up more costs to be passed on to the rest of us when they inevitably fail. Sooner they are out of business, the happier I will be.

I am due 6 lots of £30 compensation still from Neon Reef but it's taking an age for them to reply to my complaints.  From a selfish point of view, I am happy for all the panic buyers to continue to sign up to them in the hope they trade a bit longer and get round to dealing with my accounts.  PANIC BUYERS ARE WELCOME @ NEON REEF

It could be the case that, ironically, the more people sign up with Neon Reef at their unsustainable electricity prices then the less secure they become as a business!

bristolleedsfan

dougsdir said:

Can anyone tell me the current unit prices (and Daily charges)  for gas and electric on the Flexible Octopus tariff?
Im a bit in limbo just now as avro went bust mid switch so I never received any communications from them since I applied to switch. I know the switch happened as they took 1 direct debit payment..

Put postcode in, dont click get quote, filter by domestic/flexible https://octopus.energy/tariffs/  Flexible Octopus October 2021 v2

SPOWER

Hi.  I know.  I am hoping that they forward bought and that the June/July price rise they done mean they have a surplus of electricty.  They must have lost lots of accounts around the summer.  I won't say mass exodus as some smarty might come along and quote again what that means.  All I know is they were previously very good.  They are now the new Symbio in my book.  I've had £60 off them in compensation but I want the other £180. 

GingerTim

SPOWER said:

Hi.  I know.  I am hoping that they forward bought and that the June/July price rise they done mean they have a surplus of electricty.  They must have lost lots of accounts around the summer.  I won't say mass exodus as some smarty might come along and quote again what that means.  All I know is they were previously very good.  They are now the new Symbio in my book.  I've had £60 off them in compensation but I want the other £180. 

Should have added that I hope you get your money ASAP!

YummyPancake

savers_united said:

I think those flexible Octopus rates are wrong, their Gas prices are now around 4p and Elec above 20p

Prices are increasing mid October for existing customers. 

You are right, thanks.  My original Flexi rate will be ending 13/10… then will go up to around 4p for gas if I hadn’t fixed it.  😔 

Time to get all the baking done before then, I guess.