Fixed price deal tariff being increased

lensgirl1234

Nope, absolutely nothing like that on the letter. I can't black out my address on the first page as I am on my phone, but it literally says "welcome aboard" then what my estimated cost is, based on estimated annual usage and may change based on actual readings (nothing about a tariff change), then info about my direct debit.

Absolutely 100% nowhere on any letter does it state the comment mentioned

Ultrasonic

I'll be interested to hear what Octopus have to say about this, once someone has been able to read the letter you received.

MWT

Ultrasonic said:

MWT said:

Ultrasonic said:

MWT said:

This is a tariff with a fixed relationship to the Ofgem cap, the method of calculation is fixed until 2023.

When the cap changes the tariff will be recalculated according to the defined formula.

But the tariff tracks the Ofgem cap so it will change, just in a defined way, either up or down as determined by Ofgem.

The marketing for this tariff did make that clear as far as I recall...

The letter very specifically states that 'the price you pay per unit is fixed' though...

I'm not sure we are seeing the whole of the letter and any other relevant communications, certainly anywhere that displayed the tariff details before it was selected included text like this:

"Octopus Price Promise offers great value and 100% renewable electricity. As a variable tariff, your prices can rise and fall with the price cap level as set by Ofgem - but you'll always save compared to the cap. There are no exit fees, and you can switch to a fixed tariff at any time, so if you change your mind, you're in control."

As ever, Octopus are generally reasonable people so worth raising it with them of course.

I, and others above, have all already seen and even quoted what you just have. It's the letter that contradicts this.

.. and the letter obviously contains an error if it did not include similar text to the bit it seems we are all quoting ...

This one is going to have to be resolved directly with Octopus, the pre-contract marketing material all made it clear that it was a tariff that floated with the Ofgem cap, it even included a very detailed explanation of the calculation.

The letter is wrong, I have no idea what Octopus will do with this one, so I'd start a complaint straight away and see where it goes...

Ultrasonic

MWT said:

Ultrasonic said:

MWT said:

Ultrasonic said:

MWT said:

This is a tariff with a fixed relationship to the Ofgem cap, the method of calculation is fixed until 2023.

When the cap changes the tariff will be recalculated according to the defined formula.

But the tariff tracks the Ofgem cap so it will change, just in a defined way, either up or down as determined by Ofgem.

The marketing for this tariff did make that clear as far as I recall...

The letter very specifically states that 'the price you pay per unit is fixed' though...

I'm not sure we are seeing the whole of the letter and any other relevant communications, certainly anywhere that displayed the tariff details before it was selected included text like this:

"Octopus Price Promise offers great value and 100% renewable electricity. As a variable tariff, your prices can rise and fall with the price cap level as set by Ofgem - but you'll always save compared to the cap. There are no exit fees, and you can switch to a fixed tariff at any time, so if you change your mind, you're in control."

As ever, Octopus are generally reasonable people so worth raising it with them of course.

I, and others above, have all already seen and even quoted what you just have. It's the letter that contradicts this.

.. and the letter obviously contains an error if it did not include similar text to the bit it seems we are all quoting ...

That is indeed what it looks like, as others have said.

Bubba_Shaboo

What tariff is shown in your online account?

Ultrasonic

Out of curiosity @lensgirl1234, did you get a quote and sign up directly via the Octopus website, or did you get a quote and instigate the switch via a price comparison site?

lensgirl1234

No, went direct. Family members were recommending it so we straight to them

lensgirl1234

I have managed to get hold of them on twitter. They first stated the same as the previous comments about it being a variable rate, so I sent them the screenshot of my letter and they have come back stating they see what it says and will look into it further. Hopefully because I have the letter saying it is fixed they will honour the prices for the term on the letter

MWT

Do please keep us posted on the outcome, I wouldn't want to guess how this one will be handled...

lensgirl1234

Will do. I have also just found this on my account, where it shows emails sent

The unit price of your energy (not your monthly payment) is fixed for the duration of your contract

You're on our fixed tariff, which means the unit price of your energy will stay the same for the duration of your contract