Octopus Energy - Bonkers Cheap 24 Month Fixed Electricity Rate - No Exit Fees ( Now Withdrawn )

WillPS

Grizzlebeard said:

WillPS said:

Grizzlebeard said:

Energy companies show old tariffs existing customers are on as well as new ones. Often they're in the form "Tariff Blah-Blah" v1, v2, v3 etc. Only the latest v shows the prices for new accounts.

This has become common since the prices are changing almost weekly. Going through the "Quote" Chanel will only show the latest 'v' which is the currently available one.

Take a look for yourself - the historic tariffs are listed separately. This one shows as a 'current tariff'. Incidentally all the 'current tariff's are v1 or v2.

These tariffs still have "Current customers" so they are not "Historic". It doesn't mean they're available to "New customers".

My "v1"Tariff is on the list, but new customers will only be offered "v6".

You think Helpful Octopus 24M Fixed November 2021 v1 (my bold) is a historic tariff?

QrizB

Grizzlebeard said:

WillPS said:

Grizzlebeard said:

Energy companies show old tariffs existing customers are on as well as new ones. Often they're in the form "Tariff Blah-Blah" v1, v2, v3 etc. Only the latest v shows the prices for new accounts.

This has become common since the prices are changing almost weekly. Going through the "Quote" Chanel will only show the latest 'v' which is the currently available one.

Take a look for yourself - the historic tariffs are listed separately. This one shows as a 'current tariff'. Incidentally all the 'current tariff's are v1 or v2.

These tariffs still have "Current customers" so they are not "Historic". It doesn't mean they're available to "New customers".

My "v1"Tariff is on the list, but new customers will only be offered "v6".

I think you're mistaken. My Octopus tariff still has 11 months to run but only appears on the "historic" list, not on the "current" one. And all the current domestic tariffs are v1 or v2, there isn't a v6.

Grizzlebeard

bristolleedsfan said:

Grizzlebeard said:

WillPS said:

Grizzlebeard said:

Energy companies show old tariffs existing customers are on as well as new ones. Often they're in the form "Tariff Blah-Blah" v1, v2, v3 etc. Only the latest v shows the prices for new accounts.

This has become common since the prices are changing almost weekly. Going through the "Quote" Chanel will only show the latest 'v' which is the currently available one.

Take a look for yourself - the historic tariffs are listed separately. This one shows as a 'current tariff'. Incidentally all the 'current tariff's are v1 or v2.

These tariffs still have "Current customers" so they are not "Historic". It doesn't mean they're available to "New customers".

My "v1"Tariff is on the list, but new customers will only be offered "v6".

https://octopus.energy/tariffs/  "For simplicity, we only show our most popular online tariffs during the sign up process, but if you’re interested in switching to any of our current tariffs, drop us an email to hello@octopus.energy"

Understood, but it doesn't mean they will offer you a tariff at yesterday's prices.

Drop them an email and ask. Either way I'm sure their response will be polite and helpful.

Grizzlebeard

QrizB said:

Grizzlebeard said:

WillPS said:

Grizzlebeard said:

Energy companies show old tariffs existing customers are on as well as new ones. Often they're in the form "Tariff Blah-Blah" v1, v2, v3 etc. Only the latest v shows the prices for new accounts.

This has become common since the prices are changing almost weekly. Going through the "Quote" Chanel will only show the latest 'v' which is the currently available one.

Take a look for yourself - the historic tariffs are listed separately. This one shows as a 'current tariff'. Incidentally all the 'current tariff's are v1 or v2.

These tariffs still have "Current customers" so they are not "Historic". It doesn't mean they're available to "New customers".

My "v1"Tariff is on the list, but new customers will only be offered "v6".

I think you're mistaken. My Octopus tariff still has 11 months to run but only appears on the "historic" list, not on the "current" one. And all the current domestic tariffs are v1 or v2, there isn't a v6.

My Octopus tariff is actually through the "white label" Ebico and showed on the Tariff list 2 days ago. But only if you diverted straight to the Tariff page bypassing the "Get a quote" page.

v1 through v6 (or maybe v5) of my July 2021 fixed were all listed with different prices. It doesn't mean they're all available to new customers as WillPS has already pointed out.

When v(n) has been superseded by v(n+1) I don't think they're going to let you have v(n) with same T&C but lower prices.

WillPS

@Grizzlebeard, did the tariff you are talking about say 'November 2021' on it?

WillPS

Update - this tariff *is* available, and I'm being switched over to it.

Telesales wouldn't do it but a DM on Twitter has done the trick. Nice one @bristolleedsfan !

bristolleedsfan

QrizB said:

The tariff in the OP works out as £1284 for Ofgem's average dual-fuel consumer. If you use proportionately more electricity but less gas it's likely to save you a little bit.

In comparison to what wholesale rates have been recently/currently offered fixed rates most people coming to end of fixed rate period/requiring a different tariiff for any reason, who are not on smart meter tariffs would regard current capped SVR rate for both fuels as being cheap.

The tariff we discussing on this thread electricity kwh rate is about 1.5pkwh cheaper than that heading into winter months

https://forums.moneysavingexpert.com/discussion/comment/78711627#Comment_78711627

A week ago you said in reply to "Theorising that the cap is going to go up in April, how much should we be paying per unit of gas and electricity in order for the suppliers to not go broke?  you said

 "All other things being equal, you might expect the gas unit price to rise by 4.5p (from 4p, to 8.5p) and the electricity price by 15p (from 21p, to 36p"

The tariff we discussing on this thread Electricity is 17.4pkwh cheaper nearly 1/2 rate that you calculated in theory capped rate from April might be

https://forums.moneysavingexpert.com/discussion/comment/78711952/#Comment_78711952

Using a different set of statistics you then came up with what I would regard as figures much closer to what energy capped rates might be from April stating E rate of  29.1p/kWh

The tariff we discussing on this thread Electricity  is nearly 10.5pkwh cheaper than that

I guess we all have different ideas of what phrases "bonkers cheap" and "it's likely to save you a little bit" mean 

QrizB

bristolleedsfan said:

QrizB said:

The tariff in the OP works out as £1284 for Ofgem's average dual-fuel consumer. If you use proportionately more electricity but less gas it's likely to save you a little bit.

In comparison to what wholesale rates have been recently/currently offered fixed rates most people coming to end of fixed rate period/requiring a different tariiff for any reason, who are not on smart meter tariffs would regard current capped SVR rate for both fuels as being cheap.

...
I guess we all have different ideas of what phrases "bonkers cheap" and "it's likely to save you a little bit" mean 

Agreed! It will all come down to your own energy use:

• My historic gas usage shows me using 9000kWh from November to April. Joining that tariff now, from a SVR gas tariff, would cost me an extra £9.50/month over the winter months.
  
• My historic electricity usage shows me using 1800kWh from November to April. Joining that tariff now, from a SVR electricity tariff, would save me £4.50/month over the winter months.

Overall, it would cost me about £5/month, from now until the end of March, to switch from Flexible Octopus to that fix.

The question then isn't "what will the Ofgem cap be in April?" (which various people, including me, have suggested could be 20% to 80% higher)  but "what tariffs will be available in April?". No-one knows but I'm hoping there will be a cheaper one than this.

WillPS

QrizB said:

bristolleedsfan said:

QrizB said:

The tariff in the OP works out as £1284 for Ofgem's average dual-fuel consumer. If you use proportionately more electricity but less gas it's likely to save you a little bit.

In comparison to what wholesale rates have been recently/currently offered fixed rates most people coming to end of fixed rate period/requiring a different tariiff for any reason, who are not on smart meter tariffs would regard current capped SVR rate for both fuels as being cheap.

...
I guess we all have different ideas of what phrases "bonkers cheap" and "it's likely to save you a little bit" mean 

Agreed! It will all come down to your own energy use:

• My historic gas usage shows me using 9000kWh from November to April. Joining that tariff now, from a SVR gas tariff, would cost me an extra £9.50/month over the winter months.
  
• My historic electricity usage shows me using 1800kWh from November to April. Joining that tariff now, from a SVR electricity tariff, would save me £4.50/month over the winter months.

Overall, it would cost me about £5/month, from now until the end of March, to switch from Flexible Octopus to that fix.

The question then isn't "what will the Ofgem cap be in April?" (which various people, including me, have suggested could be 20% to 80% higher)  but "what tariffs will be available in April?". No-one knows but I'm hoping there will be a cheaper one than this.

Nothing to stop you switching again in April if something better is available.

bristolleedsfan

QrizB said:

bristolleedsfan said:

QrizB said:

The tariff in the OP works out as £1284 for Ofgem's average dual-fuel consumer. If you use proportionately more electricity but less gas it's likely to save you a little bit.

In comparison to what wholesale rates have been recently/currently offered fixed rates most people coming to end of fixed rate period/requiring a different tariiff for any reason, who are not on smart meter tariffs would regard current capped SVR rate for both fuels as being cheap.

...
I guess we all have different ideas of what phrases "bonkers cheap" and "it's likely to save you a little bit" mean 

• My historic gas usage shows me using 9000kWh from November to April. Joining that tariff now, from a SVR gas tariff, would cost me an extra £9.50/month over the winter months.
  
• My historic electricity usage shows me using 1800kWh from November to April. Joining that tariff now, from a SVR electricity tariff, would save me £4.50/month over the winter months.

Overall, it would cost me about £5/month, from now until the end of March, to switch from Flexible Octopus to that fix.

Correct me if I have got this wrong believing that you are on Octopus Go Smart Meter 12 month fixed for Electricity ( not flexible tariff for electricity),

Tariff this thread is discussing is not specifically a dual fuel tariff merely shows rates for both fuels, as you know nobody is under any obligation to have both fuels on any particular Octopus tariff, or in fact both fuels with Octopus hence me saying this on previous page post above yours

"Hence why I did not express a personal opinion about gas rate, someone can just switch  electricity to that tariff and leave gas on energy capped tariff or any other current tariff if they wish, which is what I would"

I am hoping existing Octopus customers who have renewed at higher fixed rates particularly during middle September when Octopus were seemingly automatically advising people who contacted them about flexible tariff to change to fixed rates for both fuels higher than these rates will see this thread and encourage them to change tariffs whether that be mix tariffs or otherwise hence me saying this

Cheapest Octopus Gas kwh rate since Octopus 24M Fixed September 2021 v1,

Cheapest Octopus Electricity non smart fixed rate tariff since Octopus 24M Fixed June 2021 v1