Octopus Energy Fix Rate Query

spot1034

I would do nothing, enjoy the final weeks of your fix, drop on to the SVT and look at what is available then, comparing it with the new SVT prices which will be known by then. 

caeler

I’m with Octopus and I also took the Loyal Octopus Fix which starts when my current fix ends on 15 February. Very similar rates (old and new) to yours @MrsRWilliams

My reasoning is no exit fees so I can switch onto the SVR Flexible Octopus if I want and when the cap is announced it might be I made the right choice especially if the government doesn’t intervene. I’m assuming this loyal fix will disappear once the new cap is known. 

I’m trying to think how I can use less energy too. 

Mr_Pegs

caeler said:

I’m with Octopus and I also took the Loyal Octopus Fix which starts when my current fix ends on 15 February. Very similar rates (old and new) to yours @MrsRWilliams

My reasoning is no exit fees so I can switch onto the SVR Flexible Octopus if I want and when the cap is announced it might be I made the right choice especially if the government doesn’t intervene. I’m assuming this loyal fix will disappear once the new cap is known. 

I’m trying to think how I can use less energy too. 

Well said my rational too. I will be paying a D/D of £62.00 per month on new loyalty rate ( no gas oil heating ) A simplistic view I took was £2.00 odd a day. I do understand the seasonal fluctuations will come into play, I am always in credit... 

MrsRWilliams

MWT said:

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...

Oh! thanks

MrsRWilliams

MWT said:

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.

That is so helpful. Thank you very much.

MrsRWilliams

caeler said:

I’m with Octopus and I also took the Loyal Octopus Fix which starts when my current fix ends on 15 February. Very similar rates (old and new) to yours @MrsRWilliams

My reasoning is no exit fees so I can switch onto the SVR Flexible Octopus if I want and when the cap is announced it might be I made the right choice especially if the government doesn’t intervene. I’m assuming this loyal fix will disappear once the new cap is known. 

I’m trying to think how I can use less energy too. 

Hi, that is a good plan - sounds very logical! and yes, doing the same, turning off lights constantly! all got to be a good thing

savers_united

caeler said:

I’m with Octopus and I also took the Loyal Octopus Fix which starts when my current fix ends on 15 February. Very similar rates (old and new) to yours @MrsRWilliams

My reasoning is no exit fees so I can switch onto the SVR Flexible Octopus if I want and when the cap is announced it might be I made the right choice especially if the government doesn’t intervene. I’m assuming this loyal fix will disappear once the new cap is known. 

I’m trying to think how I can use less energy too. 

Have you checked you can drop back onto the SVT during a fixed period? Octopus may be different but some have reported suppliers finding ways to keep customers off the SVT, I. E if your already on a fixed deal. The SVT is normally the default tariff for end of contract or SOLR tariff. There are posts of new connections being put on the Non SVT and no option to switch supplier and move to the SVT.

If you look at the new Octopus tariffs released this week there are now half dozen with prices of Gas very close to the loyal tariff, so I don't think you will see the loyal tariff increasing unless of course wholesale prices spike again, at the moment they seem to be falling, they would have secured advanced contracts to offer those prices unlike the SVT that is lagging behind the wholesale market. Historically fixes have been less than the SVT. 

caeler

I did not realise!  @savers_united
whats done is done, I’ll have to wait and see now. I’m trying to conserve energy too. 

QrizB

caeler said:

I did not realise!  @savers_united
whats done is done, I’ll have to wait and see now. I’m trying to conserve energy too. 

It's been discussed at length on another thread. Octopus have always allowed customers to switch at will between current tariffs, and there's nothing to suggest they will change that policy.

If you go to https://octopus.energy/tariffs/ you'll see it states:

For simplicity, we only show our most popular online tariffs during the sign up process, but if you’re interested in switching to any of our current tariffs, drop us an email to hello@octopus.energy.