Stick or switch

schizometric

Hi all, I’ve been offered this loyal customer deal. By my calculations this is only worth doing if the price cap rises by over 20% in October. Is this correct? I’ve really tried to get my head round this, inc watching the latest video by Martin but still feeling a bit lost

QrizB

schizometric said:

Hi all, I’ve been offered this loyal customer deal. By my calculations this is only worth doing if the price cap rises by over 20% in October. Is this correct? I’ve really tried to get my head round this, inc watching the latest video by Martin but still feeling a bit lost

Octopus's fixed-rate deals aren't especially good value but that's the best one they currently offer.

Whether it's worth taking will depend on your usage, not just in total for the year but over the next 6 months.

For Ofgem's typical customer, using 2900kWh/kr of electricity and 12000kWh/yr of gas:

• April cap - £1971/yr
• Your Loyal Octopus tariff - £2402/yr

That's an premium of £431, or almost 22%, vs. the April cap.

The choice is yours to make, and no-one else can make it for you.