What if I stay on my price cap tariff

helping_parents

Hi
I was wondering what will happen once my priced capped tariff with Octopus Energy ends on the 31/03/22 if I have not already fixed with one of their new tariffs. The tariffs Octopus are offering are higher than the Government priced capped rates published from 1/4/22. 

Anybody any ideas
many thanks

QrizB

Welcome to the forum.

helping_parents said:

Hi
I was wondering what will happen once my priced capped tariff with Octopus Energy ends on the 31/03/22 if I have not already fixed with one of their new tariffs. The tariffs Octopus are offering are higher than the Government priced capped rates published from 1/4/22.

The price capped tariff will continue, but at an increased price that reflects the new cap.

Octopus's capped variable rates effective from April can be seen here.

jimjames

If the tariff ends then you move onto the price cap. No need to do anything.

helping_parents

So, as Martin has been saying for a while now….don’t do anything 😬 

shorty31

helping_parents said:

So, as Martin has been saying for a while now….don’t do anything 😬 

Does Martin now say that?  I think a more accurate recent quote would be “I don’t have a crystal ball”  doing nothing would but you on to a variable “capped” tariff.  Sadly, potentially, there could be another big rise in the capped rates in October.  

Some of us have elected to take the inflated fixed tariffs from our suppliers to lock in a price to cover usage over next winter.
None of us know what will happen, some of us are happier to have a locked in rate to budget too.