Just moved house - energy supply

arejay11

Hello! First time poster ☺️

My husband and I have just finally bought our first home after years of saving. We have a 14 month old baby. We completed in the last week of September.

I established our supplier is Octopus and contacted them to advise them we have moved in. They have sent me two tariffs as an option. I am absolutely horrified at the cost. Both tariffs are very similar - one has fixed in the title, the other doesn’t but the projected annual cost for both is just under £3800. I can see the “previous tariff” in the left hand column which I assume is what was being paid by predecessors, which is £1500 annually.

It’s a four bedroom terrace, 20 years old. Slightly bigger than where we were renting, where we paid £60/month and my direct debit for this will be £316!!!

Help! Or is there nothing we can do? I can’t see anything in the MSE advice about what to do if you’re moving now.

Thanks in advance.

tim_p

We need more info about how the house is heated and hot watered. Is it electricity only?
Out of interest, if it’s only 4 years old the what do the meter(s) currently read, dividing that figure by 4 will give you a vague idea of annual consumption. 

arejay11

Thanks so much for replying. Sorry, I am a bit of a novice at this sort of thing, I usually just use Uswitch once a year!

The house has gas and electricity, there’s a gas boiler and central heating. 

The house is 19 years old so I don’t know if that will help in terms of meter readings? I’m guessing it will have had new meters at some point? If not, the gas meter is 40,000 and electricity 33,000.

Essentially these tariffs both show (roughly):
- no change in standing charge for electricity
- 2x increase in unit rate for electricity
- 3p (15% increase) in standing charge for gas
- 3x increase in unit rate for gas

TheMilkmansDad

do not accept either of the 2 tariffs offered. you should default to their standard tariff which is based on the Energy Cap which "should" be considerably cheaper. That standard tariff will raise again in April next year so possibly look to fix/switch/stick again at that time.

arejay11

Oh thank you. Whoops, maybe I shouldn’t have contacted them. Shall I just not reply now and see what happens?

TheMilkmansDad

just ask to be put on their Standard Variable Tariff. It'll be costing them money so they'll try and get you on a different tariff, but just say "no thank you, put me on your SVT for now please"

MWT

You were right to contact them as you needed to open an account and provide payment details.

Also, don't ask to be 'put on your SVT' as that may trigger the wrong response from the CS agent, as currently, no new customers are being accepted onto that tariff.

Just make it clear that you are happy to remain on the deemed tariff you are already on and do not wish to select an alternative tariff right now.

arejay11

Thanks both. Whoops, already asked to be put on SVT 🤦🏻‍♀️ Will see what happens.
thanks for your help!

MWT

If they say 'no' just reply and tell them to leave you on the 'deemed tariff' then.

It is the same thing, but it may 'push the right button' for the CS team.

arejay11

Thanks everyone - I’m on the SVT now, phew!

MWT

arejay11 said:

Thanks everyone - I’m on the SVT now, phew!

If you want to tell us the standing charge and unit price for your tariff we can confirm you are on the right one.