Octopus Energy Fix Rate Query

Mr_Pegs

MWT said:

Mr_Pegs said:

I have opted for the loyalty rate from octopus zero exit fees my current plan ends 22/2/2022 here is a clip from octopus email new plan starts at the end of current plan

Perfect, thanks for that.

So this confirms that the new fix will start from the end of the current fix.

Yes it does if the new cap is lower I will reassess what to do as zero exit fees

MrsRWilliams

MWT said:

MrsRWilliams said:

Thanks very much - reading again their message on renewal email, it would seem to suggest that unless I accept and request that I am transferred immediately onto the Loyal Octopus I will be transferred onto a "always good value and variable tariff; Flexible Octopus' tariff".

Could you post the text of the email here please?

Do remove any personal information of course...

Hi there - won't let me copy text but this is it;

Your Options

Option 1. Fix your prices for 12 months (this is the standard fixed tariff and reflects the current wholesale cost) Called Octopus 12M Fixed tariff

E unit 37.75p kWh (day charge 25.66p) G unit 10.22p kWh (day charge £26.10p)

£200.72 monthly d/d

Option 2. Do nothing. At end of contract switch to always good value variable tariff. Flexible Octopus.

£106.04 est.month

Not sure what today's capped prices are, my move would be 04 March

Option 3. Fix prices with Loyal Octopus. Fixed prices for 12 months.

Loyal Octopus 12M Fixed.

£160.89 monthly d/d

E unit 27.92p kWh (day charge 25.66p) G unit 8.49p kWk (day charge 26.10p)

Current d/d is £86 and prices are elec unit 16.26 kWh/Gas 2.82 kWh - ends 04 March

Reading the T&C it states my  new tarriff will start on 04/03/2022 - But

It is confusing at the Octopus member of staff told me when I confirm the switch the new charges take effect immediately and my old contract is revoked so new increased charges apply immediately

?!

MrsRWilliams

Mr_Pegs said:

I have opted for the loyalty rate from octopus zero exit fees my current plan ends 22/2/2022 here is a clip from octopus email new plan starts at the end of current plan

Loyal Octopus 12M Fixed
This tariff features 100% renewable electricity and fixes your unit rates and standing charge for 12 months. There are no exit fees, so if you change your mind, you're in control. Hope this helps

Starts from	12:00 AM, 22nd Feb 2022
Electricity
Unit price	29.17p per kWh
Standing charge	23.50p per day

It is interesting how the daily charge rate has been changed on the Loyaly Rate Tariff for my ofer (25.66p day now) and Elec unit 27.92p per kWh, so it really does seem to vary - or could this be if it is not a dual fuel offer?

MWT

MrsRWilliams said:

It is interesting how the daily charge rate has been changed on the Loyaly Rate Tariff for my ofer (25.66p day now) and Elec unit 27.92p per kWh, so it really does seem to vary - or could this be if it is not a dual fuel offer?

The rates are different for each of the regions around the country...

MWT

MrsRWilliams said:

Reading the T&C it states my  new tarriff will start on 04/03/2022 - But

It is confusing at the Octopus member of staff told me when I confirm the switch the new charges take effect immediately and my old contract is revoked so new increased charges apply immediately

If you phone the CS staff and ask them to change your tariff it will take immediate effect.

Using the link in the email should respect the start date given in the email.

Captainkirk54

No I have checked with Octopus - the new fixed price tariff will start as soon as you accept it, irrespective of the current contract. When I asked about the advice on their website repeating Martin Lewis's advice about leaving it to default to the capped rate - I was told this advice was only for new customers. 
I am beginning to thing that Octopus is trying to get people to sign new high rate fixed contracts to recover money.  

MWT

Captainkirk54 said:

No I have checked with Octopus - the new fixed price tariff will start as soon as you accept it, irrespective of the current contract.

I would ask again on that one and make it clear you are not asking CS to change anything, just planning to click on the link in the email, as it would be a very easy complaint if the email says 22nd Feb start and they started it immediately... ?

ProDave

As I have said, I have signed up to the Loyal Octopus deal by email and got them to agree not to start the Loyal Octopus rate until the end of February, so I will only be paying 1 month at a higher rate than the capped SVR.

If they will do it for me, I don't see why they won't for others.  Just Ask.

bristolleedsfan

Captainkirk54 said:

 When I asked about the advice on their website repeating Martin Lewis's advice about leaving it to default to the capped rate - I was told this advice was only for new customers. 

Yes that is true, Octopus seemingly want customers of other energy suppliers to default to the capped rate despite its competitors having offered some fantastic existing customer new fixed rates.deals

Octopus seemingly hoping to encourage/tempt own customers to choose a new fixed rate, they say they have been offering loyalty fixed at a loss,  whilst that might be true, customers defaulting to the capped rate during winter months would have represented bigger loss on gas.

Interestingly this renewal notice posted today doesnt offer loyalty 12 month fixed, option 1 do nothing, option 2 standard fix, option 3 shop around

MWT

bristolleedsfan said:

Interestingly this renewal notice posted today doesnt offer loyalty 12 month fixed, option 1 do nothing, option 2 standard fix, option 3 shop around

I suppose, theoretically, those transferring on from Avro are now going to be within 45 days of their 'Avro' tariff ending but have not been customers long enough to qualify for the 'Loyal' tariff...

... but I thought we had seen some from Avro being offered the 'Loyal' option... ?