Octopus 100% Price Increase?

Abelle20

I have been paying a £151 direct debit, based on the consumption of the previous owner of my new house. I tried to change it as I use less but they said no, they wanted  see my usage first… then they went bust and I had to wait to be transferred to a new supplier. The new supplier Octopus put me on the same direct debit and wouldn’t let me reduce it. I use approx. £80 combined g/e in summer p/month and £120 combined g/e in winter so less than the direct debit. 

On the new fixed rate, they want to charge me £310 p/m

This is 287% higher than my summer usage currently and 158% more than my winter currently. 

I was preparing for 50-100% increase at the most …!!  

I have been told I use less than the average household in my area so really have no idea why it’s so high and what to do.

I also feel I may be being penalised for being on a too high direct debit it the first place? 

Apart from not using any fuel, are there any ways to get this amount down? 

luvchocolate

Many of problems for low users are the increased daily standing charges. For me this is the most of my bill and nothing we can do about that

QrizB

Abelle20 said:

I have been paying a £151 direct debit, based on the consumption of the previous owner of my new house. I tried to change it as I use less but they said no, they wanted  see my usage first… then they went bust and I had to wait to be transferred to a new supplier. The new supplier Octopus put me on the same direct debit and wouldn’t let me reduce it. I use approx. £80 combined g/e in summer p/month and £120 combined g/e in winter so less than the direct debit.

Gas and electricity are not measured in pounds, but in kWh. How many kWh of gas and electricity do you use in a year?

And what is the estimated annual consumption (EAC) shown on your latest bill?

On the new fixed rate, they want to charge me £310 p/m

This is 287% higher than my summer usage currently and 158% more than my winter currently.

The price is higher because the fixed rate tariff is more expensive than your current variable one, and more expensive than the increased variable rate that will apply from April.

MWT

Abelle20 said:

I have been told I use less than the average household in my area so really have no idea why it’s so high and what to do.

I also feel I may be being penalised for being on a too high direct debit it the first place? 

Apart from not using any fuel, are there any ways to get this amount down?

Once your account is fully set up and working you should be able to reduce your DD in line with your usage.

Have you had any bills yet from Octopus, and if you had credit with your old supplier, has that been added to your Octopus account yet?

JbobMSE

I’ve been paying £60/month for the past couple of years for a dual fuel deal. A few weeks ago it went up to £89/m. I have just been told that from April I shall be paying £120/m. 3 bed semi - 2 occupants.

MWT

JbobMSE said:

I’ve been paying £60/month for the past couple of years for a dual fuel deal. A few weeks ago it went up to £89/m. I have just been told that from April I shall be paying £120/m. 3 bed semi - 2 occupants.

The payments on their own don't really tell the story, take a look at how much you have been using each month and what is happening to the balance on your account, I suspect the increase a few weeks ago was because your payments were not covering your use, the next increase in April reflects the increased variable tariff.

Take a look at the estimated annual use which is shown on your bills and make sure that reflects your actual use based on meter readings.

I hope you have been submitting meter readings or you have a working smart meter? (check the bills to make sure the readigns are not estimates)  

Astria

JbobMSE said:

I’ve been paying £60/month for the past couple of years for a dual fuel deal. A few weeks ago it went up to £89/m. I have just been told that from April I shall be paying £120/m. 3 bed semi - 2 occupants.

I'm the complete opposite, they decided to hike my DD last October to £95/month, then each month they send me a bill for approximately £70. My account is now £200 in credit and they are asking me if I would like some of it refunding to my bank account. Why don't you just reduce the DD I ask, sorry we can't do that as it's based on your estimated usage for the year, but we can refund £100 for you. We are entering summer, I'm going to be using less, but they won't budge. So I asked them to put me on a variable direct debit (just pay the amount owed per month) to which they accepted ! So try that if you are happy with higher DD in the winter and lower in the summer.

MoneyMate

Just accepted the Loyal Octopus fixed was £70 next month £150,  it's 12 months, ( Gas and Electric )

MWT

MoneyMate said:

Just accepted the Loyal Octopus fixed was £70 next month £150, I think it's 12 months, not 10, soon find out. ( Gas and Electric )

If you have just accepted it now, it is 10 months, not 12.

bristolleedsfan

MoneyMate said:

Just accepted the Loyal Octopus fixed was £70 next month £150, I think it's 12 months, not 10, soon find out. ( Gas and Electric )

I have seen a few people say current version is 43% above April energy cap