Moving house and changing energy providers - very stressed about cost!!

agl1992

Hi everyone! We've just bought a property so we need to move or set up new accounts with gas/electric providers, terrible timing!! We're currently in an overlap where we still live in our old property (rented) but have keys to new property.

In our rental we are with E.ON Next, although our fixed tariff ends at the end of this month. In the new house, the previous owners were with Octopus Energy, we've been sent a £25 off voucher for setting up with them. Their cheapest rate is a 12M fixed plan with zero exit fees.

The estimated monthly tariff was a shock but similar to anything on price comparison websites. Also the comparison websites are saying they can't help me switch to the (similar priced) deals anyway!!

All the advice is that it's a terrible time to switch, but due to our tariff ending and moving house we don't have much choice. At the moment it seems the Octopus fixed rate might be our best option, as we could leave without exit fees if prices get better. Does anybody have advice on whether this is sensible or the most cost-effective alternative?

Thanks!!!

jdsimmons3

agl1992 said:

Hi everyone! We've just bought a property so we need to move or set up new accounts with gas/electric providers, terrible timing!! We're currently in an overlap where we still live in our old property (rented) but have keys to new property.

In our rental we are with E.ON Next, although our fixed tariff ends at the end of this month. In the new house, the previous owners were with Octopus Energy, we've been sent a £25 off voucher for setting up with them. Their cheapest rate is a 12M fixed plan with zero exit fees.

The estimated monthly tariff was a shock but similar to anything on price comparison websites. Also the comparison websites are saying they can't help me switch to the (similar priced) deals anyway!!

All the advice is that it's a terrible time to switch, but due to our tariff ending and moving house we don't have much choice. At the moment it seems the Octopus fixed rate might be our best option, as we could leave without exit fees if prices get better. Does anybody have advice on whether this is sensible or the most cost-effective alternative?

Thanks!!!

I've just moved too. I was with Scottish power on a fixed rate. I contacted eon next the day I got the keys, gave my meter readings. I just got a letter saying I'm on their variable rate tariff estimated at £1660 per year. Seems ok to me. Fixed would have been much higher! When you move house you don't have to go to a fixed deal. Just give your reading and say your sticking to the variable rate. (If it's better than the fixed they're offering)

Verdigris

You are automatically in a deemed contract with the encumbent supplier at the new property as soon as you turn a light on. At the moment (see other stroy about Ofgem rule change) you will automatically be put on the SVT, which is the cheapest deal you will get from anybody, at the moment. Stick with that until some more advantageous fixes come along, possibly after April.

There is absolutely nothing to get stressed about.

Aylesbury_Duck

As above, their "cheapest rate" will be the cheapest fix they're prepared to offer, whereas they have to allow you to go on their standard variable tariff if you want.

QrizB

Welcome to the forum and congratulations on the new home!

agl1992 said:

In our rental we are with E.ON Next, although our fixed tariff ends at the end of this month. In the new house, the previous owners were with Octopus Energy, we've been sent a £25 off voucher for setting up with them. Their cheapest rate is a 12M fixed plan with zero exit fees.
Does anybody have advice on whether this is sensible or the most cost-effective alternative?

Octopus's current fixed rates, as with most suppliers, are higher than the Ofgem-capped variable rate. You will be best served by staying on Octopus's variable tariff (called "Flexible Octopus"), and by allowing your E.ON Next fix to expire so you end up on their variable tariff too "Next Flex").
Both rates are expected to rise significantly in April but, again, there are no fixed rates currently on offer that are any cheaper.