300% monthly price increase

tnj75

I have received an email today from octopus energy to inform me my DD will be increasing from £92 p/m to £340 p/m. I was referred to octopus as I was with Avro who went bust.  Surely a 300% price increase PER MONTH is worrying? Anybody have advice??

jimexbox

What tariff have you been offered? Fixed or default capped tariff.

You really need post more details including kWh price of gas and electric. 

Verdigris

Do you send regular monthly meter readings? Without actual readings you payments will be estimated. Unless you have been living on another planet, you will be aware that energy prices are at record high levels.

tnj75

jimexbox said:

What tariff have you been offered? Fixed or default capped tariff.

You really need post more details including kWh price of gas and electric. 

Currently on Flex Avro... electricity = 20.99 per kwh
Gas = 4.13 per kwh

Offer is
Electric = 24.86 per day daily standard charge; 40.48 unit rate per kwh
Gas = 26.10 per day; 12.38 per kwh

My current deal is not showing any daily fees??

tnj75

Verdigris said:

Do you send regular monthly meter readings? Without actual readings you payments will be estimated. Unless you have been living on another planet, you will be aware that energy prices are at record high levels.

Yes I am  thanks

Verdigris

It looks like you've been offered a fixed deal, which are very expensive at the moment. If you do nothing, you'll stay on the SVT, which will still goi up significantly on April 1st, but not as much as that quote.

tnj75

tnj75 said:

jimexbox said:

What tariff have you been offered? Fixed or default capped tariff.

You really need post more details including kWh price of gas and electric. 

Currently on Flex Avro... electricity = 20.99 per kwh
Gas = 4.13 per kwh

Offer is
Electric = 24.86 per day daily standard charge; 40.48 unit rate per kwh
Gas = 26.10 per day; 12.38 per kwh

My current deal is not showing any daily fees??

Just found on last bill = GAS 24.87 per day
ELECTRIC 23.68 per day

The_Fat_Controller

You are under no obligation to take a new fix.

Is your account currently in a serious amount of arrears ?

Do a search for the April 1st Standard Variable rate and do your sums based on you actual annual usage.

[Deleted User]

The email that I received from Octopus was extremely clear. Yes, the email offered a fixed tariff but there is no obligation to agree to it. 

tnj75

I'm not in arrears. Please see attached 

jimexbox

The choice is yours, but the April 1st capped variable rate is considerably cheaper. Although will rise again on October 1st.

Do nothing and you will stay on the capped variable rate which will rise by around 54% on the 1st April. Also check you are not in debit on your energy account, as any future DD will include extra to clear this.