Octopus offering deal £180/month

QrizB

worrywart_3 said:

That would be double what I’m currently paying I’m paying roughly 13p for electric and 2.5 for gas so yes original poster that fix could well be double what your currently paying. If it’s lower than you expect April to be we are in trouble 🥲 most are saying to go in variable untill April as even though cap will increase then we are all hoping come next winter it will be down but who knows worrying times

That's a good tariff worrywart_3, how many more months do you have on that fix?

The April 22 cap could will be a significant hike on the October 21 one, but it's possible that the wholesale cost of power will fall by then and suppliers will be able to offer tariffs below the cap. Or it might not, and we're all in trouble.

worrywart_3

Till august for my electricity and April for gas with so energy for gas octopus for electricity 

e2rdo

Hi folks. I'm in a similar situation, my contract ends on 18th December and I was thinking about leaving it as is until April. What are your thoughts?

My annual usage:

Gas

13435 kWh
Electricity
1766 kWh

My current plan details below:

Octopus Exclusive 12M Fixed

Unit rates

Electricity: 14.91p per kWh

Gas: 2.50p per kWh

Standing charges

Electricity: 23.42p per day

Gas: 17.85p per day

Current annual amount: £728.01

Proposed loyal tariff quote as of today:

£1,472.53

Based on your estimated annual usage, not the figures you gave when signing up.

Tariff cost breakdown

⚡ Electricity

Daily standing charge 26.45p /day

Unit rate  25.16p /kWh

Exit fee £0

🔥 Gas

Daily standing charge  26.10p /day

Unit rate  6.57p /kWh

Exit fee £0

Option 2: Do Nothing - as per email sent on November 3rd
Flexible Octopus

£83.73 Estimated monthy cost

Electricity

Daily charge 26.45 p/day

Unit rate 20.01 p/kWh

Gas

Daily charge 26.11 p/day

Unit rate 3.91 p/kWh

£1004.71

Estimate for the next 12 months

bristolleedsfan

e2rdo said:

Hi folks. I'm in a similar situation, my contract ends on 18th December and I was thinking about leaving it as is until April. What are your thoughts?

If your fixed term is coming to an end, don't choose a new tariff or switch supplier.

Instead, let your supplier automatically move you to their default tariff, so your prices are protected by the Government's Energy Price Cap.

:

e2rdo

That's what I thought, thanks. Situation is very tricky on the market so it's best to double check.

MWT

worrywart_3 said:

...most are saying to go in variable untill April as even though cap will increase then we are all hoping come next winter it will be down but who knows worrying times 

Not so much going with variable until April, more going with it until we get some idea what is happening with the cap from April, which should be known in February...

Then take a look at the way the fixes are heading and decide...

At least with Octopus there are no exit fees on the fixed tariffs...

worrywart_3

MWT said:

worrywart_3 said:

...most are saying to go in variable untill April as even though cap will increase then we are all hoping come next winter it will be down but who knows worrying times 

Not so much going with variable until April, more going with it until we get some idea what is happening with the cap from April, which should be known in February...

Then take a look at the way the fixes are heading and decide...

At least with Octopus there are no exit fees on the fixed tariffs...

Yes I sort of meant that for me I’m fixed till April for gas anyway which covers the worst of the winter, electric I doubt I will get cheaper before that fix ends, I use quite w bit of electric as I have an everhot but that will be going off if rates double! 

Gerry1

worrywart_3 said:

I’m paying roughly 13p for electric and 2.5 for gas

Look like you're paying 14.51p/kWh for electricity, almost 12% more than you think... you forgot VAT.

worrywart_3

Gerry1 said:

worrywart_3 said:

I’m paying roughly 13p for electric and 2.5 for gas

Look like you're paying 14.51p/kWh for electricity, almost 12% more than you think... you forgot VAT.

It’s allways plus vat but yes given the prices they are going up to for now that’s ok about time energy was vat free given it’s an essential

Gerry1

worrywart_3 said:

Gerry1 said:

worrywart_3 said:

I’m paying roughly 13p for electric and 2.5 for gas

Look like you're paying 14.51p/kWh for electricity, almost 12% more than you think... you forgot VAT.

It’s allways plus vat but yes given the prices they are going up to for now that’s ok about time energy was vat free given it’s an essential

Don't worry, Mr Gove will cut VAT on fuel bills if we leave the EU....

...oh, wait.