Can Anyone Help.

Bearpolar

Hi, I'm disabled and can get a bit confused so hope I have got it correct, I just wondered if anyone could help me or give me some advice.

I was preparing for the April energy price increases thinking it would be the 54% I see reported on the tv.

I was on a fixed tariff with Octopus Energy, there new cheapest rates for an existing customer are.

Electricity
Unit rate 39.21p 
Standing charge 37.65

Gas
Unit rate 12.23
Standing charge 27.22

This will be an increase of over £1300 a year for me.

I'm confused because my brother was paying 23p for electricity but now with the increase is paying 27p.

My neighbor also told me his new unit cost was 28p.

Octopus Energy won't respond to my emails, I don't now what to do.

Benny2020

Those are prices for a fixed deal, if you default to the SVR you get the price cap prices, 7p gas and 28p leccy.

[Deleted User]

You're looking at fixed rate tarrifs.  You may want to just move to the SVR, which are currently cheaper.

400ixl

Most of the new fixed rates being offered are more expensive than the standard variable rate. Unfortunately some suppliers are not showing people the SVR rates that they would go onto by default if they did nothing at the end of their fixed term.

Are you at the end of a fixed rate at the moment?

pochase

What you are quoting is the cheapest fixed tariff, which is much more expensive than the standard variable tariff you brother and neighbour are on.

Octopus has to offer you a  fixed tariff when yours is ending, but there should also be mention of the standard variable tariff as the cheapest tariff. If you don't do anything you will just be  switched to it, just don't take the offered fixed tariff.

Tranboy

The 12.23 for gas is a crazy price, just do nothing as Martin Lewis keeps saying and default onto the Standard Variable Tariff which is capped for the next 6 months....what the new cap in October will be i dread to think.

Mstty

@Bearpolar As others have said do nothing, don't choose a high fixed rate and you will automatically be put on the price capped rates your neighbour has.

Bearpolar

Sorry for delay in replying, thank you all so much for replying, it's such a relief.

I kinda feel stupid now, but they were obviously trying to get me to switch to a variable tarrif, I just thought they were obliged to tell me what there cheapest option was.

This and the equally high cost of switching to a new provider had me in a panic, thank you all again for your time.

Ultrasonic

Bearpolar said:

Sorry for delay in replying, thank you all so much for replying, it's such a relief.

I kinda feel stupid now, but they were obviously trying to get me to switch to a variable tarrif, I just thought they were obliged to tell me what there cheapest option was.

This and the equally high cost of switching to a new provider had me in a panic, thank you all again for your time.

Good morning. You've actually got the point in bold the wrong way round there. The price you were quoted was for a fixed tariff whereas what will be cheaper until at least the start of October is the standard variable tariff. I know this goes against years of advice to the contrary but it is where we're at right now, since the variable tariff is limited by the price cap.

MWT

Bearpolar said:

I kinda feel stupid now, but they were obviously trying to get me to switch to a variable tarrif, I just thought they were obliged to tell me what there cheapest option was.

This and the equally high cost of switching to a new provider had me in a panic, thank you all again for your time.

If you go and read the email they will have sent to you as you approached the end of the fixed tariff you were on, you will see that as well as offering you the cheapest fixed tariff as they are obliged by Ofgem to do, the email also explained that if you do nothing you will be put onto their capped standard variable tariff, which is the cheapest option.

Just have to read the whole email, don't just stop at the first part.

Bearpolar

Ultrasonic said:

Bearpolar said:

Sorry for delay in replying, thank you all so much for replying, it's such a relief.

I kinda feel stupid now, but they were obviously trying to get me to switch to a variable tarrif, I just thought they were obliged to tell me what there cheapest option was.

This and the equally high cost of switching to a new provider had me in a panic, thank you all again for your time.

Good morning. You've actually got the point in bold the wrong way round there. The price you were quoted was for a fixed tariff whereas what will be cheaper until at least the start of October is the standard variable tariff. I know this goes against years of advice to the contrary but it is where we're at right now, since the variable tariff is limited by the price cap.

Thank you for your reply.

I was sent a quote comparing my current tarrif and the cheapest available. I rang them and the prices were the cheapest available and were a flexible tarriff.

But on checking my account my current tarriff doesn't end until next month, I should've have checked.

Sending me an email with this quote caused me to become anxious and I panicked, my apologies.