Electricity only, fix now to beat the CAP rise? (with a suggestion)

QrizB

booshya said:

QrizB said:

ProDave said:

My present (variable, capped) rate is 20.24p per kWh with Octopus.  The "press" seems to be suggesting prices will rise by 50% in April, but they don't make it clear if that is average prices so will gas go up more than 50% and electricity less than 50%  It would be useful if anyone knows how much electricity only is likely to go up.

...

We'll know the new cap some time in early February. If it's less than the Loyal rate (unlikely, I realise) you can cancel Loyal and stick with Flexible...

I don't think that will be possible.

Octopus allow you to switch tariff at any time. There are no exit fees.

MWT

booshya said:

MWT said:

ProDave said:

... but they did offer to apply that fixed rate to my account but not starting until the end of February.  So NOW it is starting to sound viable.  I would only pay the higher rate for March before the change to the cap makes it potentially cheaper.

And lastly with Octopus, if this gamble proves to be wrong, and the cap rises by a lot less than 50% in April, there is no penalty to abandon the fixed rate and go back to the SVR.

No reason not to take the 'Loyal' tariff really, by the time it cuts in for you we will already know what the next cap will be so if it is cheaper you can just cancel the change to the new tariff before it happens.

Cooling off periods, where applicable, are usually 14 days not until the supply starts.

The poster could only cancel after 14 days but before the supply starts, if they then choose either an alternative tariff or switch to a new supplier (assuming the switch occurs before the start date)

I suspect you are not familiar with Octopus and their way of doing business.

booshya

QrizB said:

booshya said:

QrizB said:

ProDave said:

My present (variable, capped) rate is 20.24p per kWh with Octopus.  The "press" seems to be suggesting prices will rise by 50% in April, but they don't make it clear if that is average prices so will gas go up more than 50% and electricity less than 50%  It would be useful if anyone knows how much electricity only is likely to go up.

...

We'll know the new cap some time in early February. If it's less than the Loyal rate (unlikely, I realise) you can cancel Loyal and stick with Flexible...

I don't think that will be possible.

Octopus allow you to switch tariff at any time. There are no exit fees.

I don't dispute that

booshya

MWT said:

booshya said:

MWT said:

ProDave said:

... but they did offer to apply that fixed rate to my account but not starting until the end of February.  So NOW it is starting to sound viable.  I would only pay the higher rate for March before the change to the cap makes it potentially cheaper.

And lastly with Octopus, if this gamble proves to be wrong, and the cap rises by a lot less than 50% in April, there is no penalty to abandon the fixed rate and go back to the SVR.

No reason not to take the 'Loyal' tariff really, by the time it cuts in for you we will already know what the next cap will be so if it is cheaper you can just cancel the change to the new tariff before it happens.

Cooling off periods, where applicable, are usually 14 days not until the supply starts.

The poster could only cancel after 14 days but before the supply starts, if they then choose either an alternative tariff or switch to a new supplier (assuming the switch occurs before the start date)

I suspect you are not familiar with Octopus and their way of doing business.

Why do you suspect that?

https://octopus.energy/blog/what-happens-during-your-switch/

MWT

booshya said:

MWT said:

booshya said:

MWT said:

ProDave said:

... but they did offer to apply that fixed rate to my account but not starting until the end of February.  So NOW it is starting to sound viable.  I would only pay the higher rate for March before the change to the cap makes it potentially cheaper.

And lastly with Octopus, if this gamble proves to be wrong, and the cap rises by a lot less than 50% in April, there is no penalty to abandon the fixed rate and go back to the SVR.

No reason not to take the 'Loyal' tariff really, by the time it cuts in for you we will already know what the next cap will be so if it is cheaper you can just cancel the change to the new tariff before it happens.

Cooling off periods, where applicable, are usually 14 days not until the supply starts.

The poster could only cancel after 14 days but before the supply starts, if they then choose either an alternative tariff or switch to a new supplier (assuming the switch occurs before the start date)

I suspect you are not familiar with Octopus and their way of doing business.

Why do you suspect that?

https://octopus.energy/blog/what-happens-during-your-switch/

...because you are posting answers that are not correct for a current Octopus customer like the OP...

booshya

MWT said:

booshya said:

MWT said:

booshya said:

MWT said:

ProDave said:

... but they did offer to apply that fixed rate to my account but not starting until the end of February.  So NOW it is starting to sound viable.  I would only pay the higher rate for March before the change to the cap makes it potentially cheaper.

And lastly with Octopus, if this gamble proves to be wrong, and the cap rises by a lot less than 50% in April, there is no penalty to abandon the fixed rate and go back to the SVR.

No reason not to take the 'Loyal' tariff really, by the time it cuts in for you we will already know what the next cap will be so if it is cheaper you can just cancel the change to the new tariff before it happens.

Cooling off periods, where applicable, are usually 14 days not until the supply starts.

The poster could only cancel after 14 days but before the supply starts, if they then choose either an alternative tariff or switch to a new supplier (assuming the switch occurs before the start date)

I suspect you are not familiar with Octopus and their way of doing business.

Why do you suspect that?

https://octopus.energy/blog/what-happens-during-your-switch/

...because you are posting answers that are not correct for a current Octopus customer like the OP...

What answer did I post that was not correct for a current Octopus customer like the OP?

Always feel free to post a link of your own that supports your view of how you think Octopus operates 

MWT

booshya said:

Feel free to post a link of your own that supports your view of how you think Octopus operates then

You are just going to have to take this one on faith  

... and it is not how I 'think' they operate, it is what those of us already with them know...

You can move to any of the currently available tariffs without penalty as long as you meet any special requirements the tariff may have.

booshya

MWT said:

booshya said:

Feel free to post a link of your own that supports your view of how you think Octopus operates then

You can move to any of the currently available tariffs without penalty as long as you meet any special requirements the tariff may have.

I do not, and never have, disputed that.

What I dispute is that the OP will be able to choose to transfer to the suppliers default tariff once they have chosen to switch to a fixed tariff.

That is the same situation with almost any supplier at present.

bristolleedsfan

booshya said:

MWT said:

booshya said:

Feel free to post a link of your own that supports your view of how you think Octopus operates then

You can move to any of the currently available tariffs without penalty as long as you meet any special requirements the tariff may have.

I do not, and never have, disputed that.

What I dispute is that the OP will be able to choose to transfer to the suppliers default tariff once they have chosen to switch to a fixed tariff.

That is the same situation with almost any supplier at present.

1st and 2nd paragrah self contradictory due to default tariffs being classed as "currently available tariffs" showing on current tariff listing, by definition others are correct you are incorrect

Friend of mine recently signed up to switch electricity Eon Next via expensive fixed rate link, when switch completed changed to energy capped variable tariff.  same person signed up to switch gas to Octopus via twitter. on switch date asked if could change to flexible Octopus
My octopus live today for gas
Twitter replied:
Thanks for getting in touch. Yes that is not a problem, your gas agreement has now been switched to the Flexible tariff

booshya

bristolleedsfan said:

booshya said:

MWT said:

booshya said:

Feel free to post a link of your own that supports your view of how you think Octopus operates then

You can move to any of the currently available tariffs without penalty as long as you meet any special requirements the tariff may have.

I do not, and never have, disputed that.

What I dispute is that the OP will be able to choose to transfer to the suppliers default tariff once they have chosen to switch to a fixed tariff.

That is the same situation with almost any supplier at present.

1st and 2nd paragrah self contradictory due to default tariffs being classed as "currently available tariffs" showing on current tariff listing, by definition others are correct you are incorrect

Friend of mine recently signed up to switch electricity Eon Next via expensive fixed rate link, when switch completed changed to energy capped variable tariff.  same person signed up to switch gas to Octopus via twitter. on switch date asked if could change to flexible Octopus
My octopus live today for gas
Twitter replied:
Thanks for getting in touch. Yes that is not a problem, your gas agreement has now been switched to the Flexible tariff

Octopus is not currently offering default tariff to new applicants, save for those that meet the special requirements for that tariff

Octopus are not accepting new switches either.
- maybe your 'friend' did get it via twitter
- But if you go to their website, they are not accepting applications online.
- If you contact them, you are told to apply online as they cannot anything offer cheaper than what is shown online
- When you tell them they are not accepting applications online, you are told "so be it".


I've not tried Eon Next. Thanks for that.:)
- ah it was via twitter too! bah
- presumably as bad as that BG cheap tariff only available via chat that was promoted on here.