Energy price hike Octupus !

Nowherefast

Hi All I have been with octopus energy for just over a year I was paying for my energy about £190 a month just recently had the new monthly payments come through from now on and will be £362! a month taking account of the April’s rise 😱 ,
what do people advise?  I know for many the energy prices was going to double but this is now becoming unaffordable as for many too!
do I stick with them or shop around but I think this was advised against??

TadleyBaggie

Are you on the Standard Variable Tariff or being quoted for a Fixed Tariff. Without details and your actual energy usage it's difficult to advise.

QrizB

Nowherefast said:

Hi All I have been with octopus energy for just over a year I was paying for my energy about £190 a month just recently had the new monthly payments come through from now on and will be £362! a month taking account of the April’s rise 😱

As TadleyBaggie says, exactly what tariff have you been offered that is £362/month? Your renewal will probably include one or two fixed-rate options, but there's also the standard variable tariff (Flexible Octopus) that you will move onto if you don't take a fix. Flexible Octopus is likely to be cheaper than any of the fixed-rate offers, at least for the next six months.

do I stick with them or shop around but I think this was advised against??

Feel free to shop around but you're very unlikely to find anywhere cheaper than Flexible Octopus.

TheMilkmansDad

ignore the DD amount - is what you are currently paying enough? Are you in debt or credit, if you're in debt then part of the increase d DD will be to pay that of.

Do you submit regular readings? As others have said, what tariff are you currently on?

Nowherefast

Hi sorry yes so just had a look and its currently on Flexible Octupus October 2021 v2 
Electric 20.40/kw/h - 25.08/day
Gas 4p kw/h  26.11/day .

I do submit my readings monthly sometimes go over like currently not submitted since 48 days ago.

Currently have balance of just over £300 in account.

QrizB

Nowherefast said:

Hi sorry yes so just had a look and its currently on Flexible Octupus October 2021 v2 
Electric 20.40/kw/h - 25.08/day
Gas 4p kw/h  26.11/day .

OK, so your new bill from April is still Flexible Octopus?

Could you let us know your Estimated Annual Consumption for both gas and electricity (it will be printed on your bill)?

Nowherefast

QrizB said:

Nowherefast said:

Hi sorry yes so just had a look and its currently on Flexible Octupus October 2021 v2 
Electric 20.40/kw/h - 25.08/day
Gas 4p kw/h  26.11/day .

OK, so your new bill from April is still Flexible Octopus?

Could you let us know your Estimated Annual Consumption for both gas and electricity (it will be printed on your bill)?

Hi so having a read through is if I  don't pick one of the packages offered i will  automatically stay on the Flexible Octupus.  Looking at the last bill Dec 2021 to Feb 2022 Gas and Elec annual is just over 2k , The current  Recommendation is showing over £6900 😲