Switching Deals?

itian85a

Good Evening,

I received an email a few days ago from my supplier:

"You've been on Octopus Tracker for almost 12 months now.

If you'd like to stick with Octopus Tracker for a further 12 months, you don't need to do anything - we'll automatically extend your tariff until May 4th 2022.

Alternatively, if you'd like to compare or switch tariffs, you can view your tariff options online at any time. It takes just a few minutes to switch."

What's the best course of action here?

QrizB

Tracker for gas is the best deal you'll get, at least until/unless they increase the cap.

It's pretty good for electricity, too.

itian85a

Thank you, so would it be best to stay as per the email I got from them?

QrizB

itian85a said:

Thank you, so would it be best to stay as per the email I got from them?

Unless you're certain you can find a better deal, yes. (Octopus don't have exit fees so you can switch away whenever you want without penalty.)

itian85a

I might give Octopus a call tomorrow

QrizB

itian85a said:

I might give Octopus a call tomorrow

For what purpose? From your original post:

If you'd like to stick with Octopus Tracker for a further 12 months, you don't need to do anything - we'll automatically extend your tariff until May 4th 2022.

Do you think you'd be better off on a different tariff?

Gas on Tracker is capped at 6p/kWh and the best alternative rate Octopus offer is Flexible  at about 7.3p/kWh. Electricity on Tracker is capped at 30p/kWh and the best alternative rate is Flexible at 28p/kWh, but the standing charge for Tracker is about 30p/day cheaper than Flexible so (unless you're a high user) you're probably still saving money.

And Flexible is expected to rise in October, while Octopus have yet to announce any changes to Tracker.

My electricity is already with Octopus, but if I could bring my gas across I'd choose Tracker.

wakeupalarm

If they are offering to extend for a further 12 months, why do they say they will extend your tariff until May 4th 2022?