Just got my new Octopus tariff

JohnB47

I'm one of those Avro customers who was moved to Octopus last year.

Octopus sent me an email yesterday with the new rates. I've plugged these into my spreadsheet which uses historical yearly typical Kwh usage for gas and electricity. It shows that my costs will rise by 54.3% on 2nd April. Phew!

I can post the actual tariff rates if anyone is interested. I live in East Devon.

sitesafe

JohnB47 said:

I'm one of those Avro customers who was moved to Octopus last year.

Octopus sent me an email yesterday with the new rates. I've plugged these into my spreadsheet which uses historical yearly typical Kwh usage for gas and electricity. It shows that my costs will rise by 54.3% on 2nd April. Phew!

I can post the actual tariff rates if anyone is interested. I live in East Devon.

I’m in South Devon. I was moved from Avro to Octopus too.  Apparently the cap rates are possibly going up again on 1 Oct by around 40%.  Martin suggested if taking taking a fix then at no more than 25 % of the new April rates but none of the fixes they’re offering are that.  I like the security of a fix but it’s been 105/113/123 over less than a week.  I’d have taken the 105 but that’s gone. 123 is £30 more than the £93 I’ll likely pay on the standard tariff 

JohnB47

Of course I haven't factored in the loan we'll get later this year and the free Council Tax rebate from April. If I factor in the council tax rebate, my increase is actually 39.36% from April 2nd. It's impossible to take account of the £200 loan because it will come at the same time as another probable raise in the price cap in October and of course, it will have to be repaid.

I can't see why the £200 loan is being delayed until another rise in prices. Why not give it from April 1st?

MWT

JohnB47 said:

I can't see why the £200 loan is being delayed until another rise in prices. Why not give it from April 1st?

Because the 6 months from April are typically the lowest consumption period of the year and the 6 months from October are the highest, so it will be most needed then rather than now.

JohnB47

MWT said:

JohnB47 said:

I can't see why the £200 loan is being delayed until another rise in prices. Why not give it from April 1st?

Because the 6 months from April are typically the lowest consumption period of the year and the 6 months from October are the highest, so it will be most needed then rather than now.

Fair point.

But energy companies are putting peoples Direct Debit amounts up in April 1st, not waiting until October and will probably resist lowering them even if requested.

So many people will need help now and will need more help in October.

MWT

JohnB47 said:

MWT said:

JohnB47 said:

I can't see why the £200 loan is being delayed until another rise in prices. Why not give it from April 1st?

Because the 6 months from April are typically the lowest consumption period of the year and the 6 months from October are the highest, so it will be most needed then rather than now.

Fair point.

But energy companies are putting peoples Direct Debit amounts up in April 1st, not waiting until October and will probably resist lowering them even if requested.

So many people will need help now and will need more help in October.

The prices go up in April and in October so the DD has to go up now, can't wait until then.

Fully understand it is a problem now for some people with worse to come, but the biggest problems will remain next winter so it does still make sense to give people what help there is at the time of most need. 

[Deleted User]

The Octopus App allows customers to set their own DD level and payment date. My DD is currently set at a £1 as I am reducing my credit balance slightly. I will put it up to a more reasonable level next month. Four years on, Octopus has never complained about my playing around with the DD payment as I have always made sure that there is enough money in the account to cover the next month’s usage.

FWiW, I have always found Octopus’ assessment of my annual usage to be accurate. Suppliers do have the ability to pull the last 12 months of data from a smart meter if they are minded to do so.

bristolleedsfan

Dolor said:

FWiW, I have always found Octopus’ assessment of my annual usage to be accurate. Suppliers do have the ability to pull the last 12 months of data from a smart meter if they are minded to do so.

Are you saying for those with smart meters a different procedure is followed than  -

"When you submit a reading to your supplier this is then sent of to the industry Data Collector in our case this is TMA to be validated, once validated they send an electronic flow through to us and this automatically updates your EAC each time and predicts your annual consumption if we don't have a years worth of readings which we place on your monthly statements"

Mothman

Just got my new tariff from Octopus Energy from 2nd April, and based on their estimated usage figures it shows a 60% increase over what I am currently paying them. For those interested my new tariff details are as below (current Octopus tariff figures shown in brackets - Flexible Avro October2021 v1).

Fuel          Standing Charge       Unit Charge kWh

Gas           27.216p (26.113p)          7.476p  (4.126p)

Electric      43.123p (24.108p)         28.455p (20.485p)

Ex Avro Energy customer located in West Berkshire.

bristolleedsfan

Mothman said:

Just got my new tariff from Octopus Energy from 2nd April, and based on their estimated usage figures it shows a 68% increase over what I am currently paying them. For those interested my new tariff details are as below (current Octopus tariff figures shown in brackets).

Fuel          Standing Charge       Unit Charge kWh

Gas           27.216p (24.87p)          7.476p  (3.93p)

Electric      43.123p (22.96p)         28.455p (19.51p)

Ex Avro Energy customer located in West Berkshire.

Minus 30% SC discount that is being given via £4 monthly support reduction

QrizB

Mothman said:

Just got my new tariff from Octopus Energy from 2nd April, and based on their estimated usage figures it shows a 68% increase over what I am currently paying them.

@Mothman your old rates in parentheses are ex-VAT; your new ones are inc-VAT.

Edit: now corrected.