Fixed rates

561544

I'm on a fixed rate deal for both gas and electric. Fixed for 24 months, ending September 2023. I've noticed that in the last couple of days my tariff has increased on both. The price per unit on both gas and electric and also the daily standing charge has gone up considerably. I have phoned my supplier and queried this. I spoke to customer support who at 1st said yes they could see the increase on the and would need to take this up with his colleague. He then came back to me and said that this was all down to VAT. He said it had increased because of the VAT added on to it. Can someone please tell me if this is correct? Thank you

pochase

It depends what you are comparing. The prices quoted for a tariff include VAT, while the price on the invoice usually is excluding VAT and the VAT is added at the end to the total amount to be paid.

Take the lower amount and multiply with 1.05 - is the result identical to the higher amount, than it is the VAT.

Were did you see the higher figures, maybe the IHD? Those are often incorrect for the rates, and your invoice is not based on what you see there.

BUFF

561544 said:

I'm on a fixed rate deal for both gas and electric. Fixed for 24 months, ending September 2023. I've noticed that in the last couple of days my tariff has increased on both. The price per unit on both gas and electric and also the daily standing charge has gone up considerably. 

Can you name the supply company & the tariff? This sounds like it could be a fixed term but variable rate tariff .

pjmendip

I wonder if it is Octopus Price Promise July 2021 V1 ?

I'm on that and asked a similar question here:

https://forums.moneysavingexpert.com/discussion/6347550/confusion-over-nature-of-octopus-account/p1

561544

BUFF said:

561544 said:

I'm on a fixed rate deal for both gas and electric. Fixed for 24 months, ending September 2023. I've noticed that in the last couple of days my tariff has increased on both. The price per unit on both gas and electric and also the daily standing charge has gone up considerably. 

Can you name the supply company & the tariff? This sounds like it could be a fixed term but variable rate tariff .

It is Octopus 24m fixed September 2021 v3
Price guaranteed until 26th September 2023.

QrizB

561544 said:

BUFF said:

561544 said:

I'm on a fixed rate deal for both gas and electric. Fixed for 24 months, ending September 2023. I've noticed that in the last couple of days my tariff has increased on both. The price per unit on both gas and electric and also the daily standing charge has gone up considerably. 

Can you name the supply company & the tariff? This sounds like it could be a fixed term but variable rate tariff .

It is Octopus 24m fixed September 2021 v3
Price guaranteed until 26th September 2023.

Thanks.
When you say your tariff has increased, is it showing on your account at https://octopus.energy/ or are you seeing the change somewhere else?