Octopus offering deal £180/month

bullinn1

Octopus are offering what they suggest is a great fixed deal £180/mth,  2 of us in a 3 bed semi house … is this right ?

bullinn1

Sorry that should have been £168

Gerry1

Meaningless without knowing your consumption, the kWh rates, the daily charges, tariff length and exit fees.

bullinn1

Sorry Gerry1 …  we’re with Octopus already, paying £80/mth but I was surprised at this “deal” … have energy costs really doubled ?

matelodave

They've increased quite a bit, but unless you do your own sums based on your consumption in kwh, you wont know if its a good deal or not and neither will we.

What you pay is based on the tariff  in ££'sand how much you use in kwh rather than some nebulous guess.

bristolleedsfan

rogertb said:

Octopus are offering what they suggest is a great fixed deal £180/mth,  2 of us in a 3 bed semi house … is this right ?

Thus is advice Octopus are giving to Customers of other energy suppliers some of whom have been offering cheaper fixed rates to existing customers than Octopus so called loyalty fixed rate, I say so called as has been available to former avro customers who have just joined, I beg the question why are Octopus not seemingly giving the same advice to own customers ???

QrizB

rogertb said:

Sorry Gerry1 …  we’re with Octopus already, paying £80/mth but I was surprised at this “deal” … have energy costs really doubled ?

What rates have Octopus offered you? Or failing that, what is the tariff name?

QrizB

bristolleedsfan said:

rogertb said:

Octopus are offering what they suggest is a great fixed deal £180/mth,  2 of us in a 3 bed semi house … is this right ?

I beg the question why are Octopus not seemingly giving the same advice to own customers ???

They're not allowed to.

Ofgem rules mean that when someone comes to the ends of a fixed rate deal, the supplier is obliged to contact them and offered their cheapest new fixed rate deal. It's meant to alert people to cheaper fixes and stop them dropping onto expensive default tariffs.

The rules didn't envision the current situation where the default tariff was the cheapest ...

[Deleted User]

The original post is unanswerable within details of the tariff; annual usage in kWhs/year and any credit/debit balance being carried forward. The ‘good news’ is that Octopus fixed tariffs have no exit fees to take into account.

QrizB

Until @rogertb tells us what Octopus have offered, the best I can see from their website https://octopus.energy/tariffs/ is Loyal Octopus 12M Fixed December 2021 v1. The rates for my region are:

• Elec: 26.08p/kWh, 24.11p/day
• Gas: 6.77p/kWh, 26.1p/day

Those rates are considerably higher than the current Ofgem cap but lower than I'm expecting the April cap to be.

MalMonroe

I'm with Octopus too - they haven't offered me any deal yet. But given that there are two of us living in a two bed small ground floor flat and they recommended that we pay £134 per month (instead of the £90 we have been paying) makes me think that the price they've offered you isn't bad. £90 doesn't cover our consumption and we end up having to top it up anyway so we're going to commit to paying the extra per month. But we're using energy a lot more now we are both working from home, so it stands to reason that our consumption has risen.

As Gerry1 says above, without all the information it's difficult for people to advise you but I'd say that's an okay deal if it covers your monthly consumption, for two people in a three bed semi. Goodness only knows what we'd be paying in a similar property. Don't forget that energy prices have risen anyway and Martin Lewis has said that he cannot comfortably recommend any energy company right now. At the moment it's difficult for everyone and is predicted to get worse. 

For now I'm sticking with Octopus because it doesn't seem that any other energy company is better - some may be worse and it's not worth the faff of doing comparisons right now.