Change to Octopus from EDF

Josquin

Got to make a decision in the next 2 days-

Accept new 2 year fixed tariff on EDF, or leave and go to Octopus fixed for 1 year.

-EDF fixed 2 yrs- 34p kwh, 41p per day  standing -charge

-Octopus- 35p kwh, 24p standing charge

If I go Octopus - after one year then what?

I like paying quarterly by card too.

I  am v hestitant to go to Octopus for some reason.

I think so many things are up in the air atm.

Any suggestions?

Thanks

QrizB

Have you considered staying where you are and moving onto EDF's variable tariff instead of a fix?

It will be cheaper than either of those fixed tariffs until October, and quite possibly after then as well.

Josquin

Thanks for the reply.

'Have you considered staying where you are and moving onto EDF's variable tariff instead of a fix?'

I have, but the edf agent warned of possible price increases and no guarantee that prices will fall. The other thing that was mentioned is that there is no guarantee of another fixed deal being available as things are moving so fast atm.

Josquin

It's just for electricity-no gas etc.

Josquin

Also, if i remember from the conversation, the SC will rise for variable customers and fixed.

QrizB

Josquin said:

'Have you considered staying where you are and moving onto EDF's variable tariff instead of a fix?'

I have, but the edf agent warned of possible price increases and no guarantee that prices will fall. The other thing that was mentioned is that there is no guarantee of another fixed deal being available as things are moving so fast atm.

Yes, that sounds like a sales agent speaking.

The chances of EDF (or any of the big suppliers) deciding not to offer fixed-rate tariffs is low, as it's the only way they can offer tariffs higher than the Ofgem cap.

The only real risk is that prices will rise from October to be higher than one of those two fixed-rate offers. No-one knows, but any cap increase is likely to be much smaller than the last one. This is doubly so for electricity-only customers like you as only half the price you pay is the cost of the electricity; the other half is costs, levies and tariffs of one sort or another which are unlikely to change much in October.

If you want the certainty of a fixed rate, take one of the offers you have there (or check out one of the comparison sites and look for a cheaper one). But you're likely to pay less on a variable tariff.

pandora205

I'm also mulling over whether to accept the EDF fixed deal.  It's tricky isn't it as who knows what will happen.

Josquin

pandora205 said:

I'm also mulling over whether to accept the EDF fixed deal.  It's tricky isn't it as who knows what will happen.

Very much so. There is so little out there to choose from.  Prices are so high, especially the standing charge - EDF  is 41p per day, Octopus is 24p, but I do not know if Octopus will change that and their tariff is only for 1 year.

EssexHebridean

I'm no gambler but I'd be happy to stake a sum against "there won't be any more fixes"! The energy companies are - as said above - relying on fixes in order to make profit at the moment - and the more people they can scare into taking one, the more profit they will make. 

What is your hesitancy around Octopus based on? Their customers generally seem very impressed with their service. 

Josquin

'What is your hesitancy around Octopus based on? Their customers generally seem very impressed with their service. '

Good question.

Have read some frustrations with Octopus as well as good reviews.

Also, change I think. I have got used to paying quarterly and not up front. But I have heard that Edf will change to DD anyway.

Josquin

Also my main concern is new EDF standing charge @41p per day. Octopus SC is 24p. But I wonder if that could change after I sign up to their tariff at some stage.