Octopus Energy - Bonkers Cheap 24 Month Fixed Electricity Rate - No Exit Fees ( Now Withdrawn )

QrizB

WillPS said:

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.

Yes, my point exactly.

QrizB

bristolleedsfan said:

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),

Yes I am, but I've not used the Go rates anywhere in this thread. I've compared the two tariffs in the original post.

bagand96

Interesting tariff. I'm with British Gas SVR after being SoLR from PFP.

For my use it would cost me around £50 a year more for gas but around £45 cheaper on electricity so it balances. But it would protect me from price cap rises in April, and I could always bail out if better fixes come along...

bristolleedsfan

bagand96 said:

Interesting tariff. I'm with British Gas SVR after being SoLR from PFP.

For my use it would cost me around £50 a year more for gas but around £45 cheaper on electricity so it balances. But it would protect me from price cap rises in April, and I could always bail out if better fixes come along...

You could stay with British Gas SVR for gas for this winter if you wanted to,just switch electricity to Helpful Octopus 24M Fixed November 2021 v1, reported experience on thread, not able to switch to that tariff by phone, was able to switch to it via twitter message

MWT

You will have to call them though, can't switch to Octopus online at the moment...

WillPS

MWT said:

You will have to call them though, can't switch to Octopus online at the moment...

Call centre wouldn't do it for me. Twitter are, although they keep trying to add Gas back in which is a concern...

themaidenmaniac

Just switching over to this one myself, until I can get over to neon reef! (they refused my switch ha).

Question for peeps- do you know if you can get economy 7 on a gen 2 smart meter (that was fitted by avro?). Cheers for the heads up!

MWT

I would not recommend that anyone tries to switch to Octopus on the basis of this tariff, from what I understand, it is not a generally available option for people to switch to, or for existing customers to move to.

Exactly who it is intended for is not clear right now but if I get that information I will post it here.

bagand96

MWT said:

I would not recommend that anyone tries to switch to Octopus on the basis of this tariff, from what I understand, it is not a generally available option for people to switch to, or for existing customers to move to.

Exactly who it is intended for is not clear right now but if I get that information I will post it here.

I suppose that at least the fact people switching to it have had to do so by Twitter DM means they have a written record of their conversation with Octopus, along with a screenshot of the tariff would give a fairly decent argument if Octopus tried to change their mind later on.

bagand96

Party is over via twitter:

Hi there, 

Thanks for getting back to us. 

I'm afraid the helpful octopus tariff isn't available on the quoting page. However I have used the figures and run a quote on our other tariffs. 

Supergreen Octopus - £xxxx per year - £xxx per month 

Octopus 12m Fixed - £xxxx per year - £xxx per month 

This is for both fuels.

Please let me know if you have any questions. 

Kind regards,

 🐙