OCTOPUS ENERGY

ailo63

My fixed tariff  with Octopus Energy is ending on 27th January.  I have been given 3 choices.

1.To fix my prices for 12 months.
2. Do nothing
3. Fix with Loyal Octopus.

Or should I shop around?  I really don't know what to do for the best?

[Deleted User]

The revised Ofgem Cap effective from 1 April will be announced in about a month’s time. This will no doubt lead to a mass market revision of fixed tariffs. If the Octopus Loyal tariff will cost you less than 40% more than the present Ofgem Cap, then I would take it. As Octopus has zero exit fee tariffs, it will cost you nothing to change if fixed tariff rates fall..

JJ_Egan

1  yes if its cheap NO if its dearer than the current market .

2 Then you go on to the standard tariff prices ( expensive) and becoming even more expensive .

As you give no prices impossible to answer .

What are the unit prices .

bristolleedsfan

ailo63 said:

My fixed tariff  with Octopus Energy is ending on 27th January.  I have been given 3 choices.

1.To fix my prices for 12 months.
2. Do nothing
3. Fix with Loyal Octopus.

Or should I shop around?  I really don't know what to do for the best?

Do nothing Gas will avoid you paying more than double on your gas usage between 27 January and probably sometime during April,- 109% difference current flexible Octopus gas kwh rate compared with Fix with Loyal Octopus.

Electricity Do nothing just under 40% less on usage - 27 January - probably sometime during April

You could do nothing for both fuels

You could do nothing Gas and ask Octopus to change just Electricity to Fix with Loyal Octopus.

You could Fix both fuels with Loyal Octopus

Unlikely to find a cheaper fixed rate elsewhere

DanutaJR

Currently, Flexible Octopus is offering me Electricity, daily charge 26.82, unit rate 19.89 p/kWh; Gas daily charge 26.ll, unit rate 3.94 p/kWh. That's cheaper than Loyal Octopus, and I can switch for nothing if the tariff rises dramatically. Are these rates based on the current cap, or are they predicting future costs? It's considerably cheaper than the other tariffs offered, but there has to be a catch. 

QrizB

DanutaJR said:

Currently, Flexible Octopus is offering me Electricity, daily charge 26.82, unit rate 19.89 p/kWh; Gas daily charge 26.ll, unit rate 3.94 p/kWh. That's cheaper than Loyal Octopus, and I can switch for nothing if the tariff rises dramatically. Are these rates based on the current cap, or are they predicting future costs? It's considerably cheaper than the other tariffs offered, but there has to be a catch. 

Flexible Octopus is the standard variable tariff. The current rates are based on the October Ofgem cap. They will change once April's cap comes into effect.

Alshamal

I’ve just received this offer from Octopus for our gas fixed for 10 months! I’m on go for my electric @5/15p which ends in August but they can’t give me any advice on this now! But others on the EV forums are paying 7.5/30p after the increase! What’s anyones  thoughts?

Ultrasonic

Alshamal said:

I’ve just received this offer from Octopus for our gas fixed for 10 months! I’m on go for my electric @5/15p which ends in August but they can’t give me any advice on this now! But others on the EV forums are paying 7.5/30p after the increase! What’s anyones  thoughts?

I'd suggest you have a read of this thread:

https://forums.moneysavingexpert.com/discussion/6341175/loyal-octopus-10m-fixed-march-2022-v1/p1

pochase

Alshamal said:

I’ve just received this offer from Octopus for our gas fixed for 10 months! I’m on go for my electric @5/15p which ends in August but they can’t give me any advice on this now! But others on the EV forums are paying 7.5/30p after the increase! What’s anyones  thoughts?

What you posted is the standard variable tariff, not a fixed rate.

QrizB

Alshamal said:

I’ve just received this offer from Octopus for our gas fixed for 10 months! I’m on go for my electric @5/15p which ends in August but they can’t give me any advice on this now! But others on the EV forums are paying 7.5/30p after the increase! What’s anyones  thoughts?

@Alshamal You've been offered 7.2765p/27.216p as the variable rate. Are you saying you were expecting it to be higher?

bristolleedsfan

Alshamal said:

I’ve just received this offer from Octopus for our gas fixed for 10 months!What’s anyones  thoughts?

Gas kwh rate fixed for 10 months  is 70% + more than Octopus flexible variable gas rate from 2 April, standing charge is about 1.12p per day cheaper on 10 month fixed, does that help ?????