Please help check my calculations Octopus fix versus Ovo switch fix- how much higher than the April

krissy08

Here are my offers for a 12 month fix please-

What's complicated is although I have an economy 7 meter, I always ask to be put on a flat rate because it does not suit my family dynamics and companies have always obliged but it's making the initial switch very difficult to work out- for the ova , I selected standard for the ovo but the octopus comes through as such because I have to call to ensure a flat rate- hope that makes sense. My annual usage is 13161 kw Gas, 1574 kWh electricity. Happy for any recommendations as well please. Thank you

                                                                               Octopus                                     Ovo

Electricity      
Daily standing charge                                                44.57.                                          51.26
Unit rate- day                                                             40.61                                           37.33
Unit rate - night                                                          28.01                                          

early exit fees                                                            zero                                               £30 each
               
Gas
Daily standing charge                                               27.22                                            27.52
Unit rate                                                                    11.22                                            11.15

QrizB

Who are you with at the moment, and have they offered you any loyalty deals?

Looking at those tariffs, and assuming you're in the East Midlands (for the variable tariff rates) with an 80/20 day/night split (so effectively 38.09p/kWh) for the Octopus one:

• Current variable: £1656/yr, rising to £2352/yr if a 42% increase occurs in October.
  
• Octopus: £2338/yr - but could be as much as £2378 if you use no night rate electricity at all.
  
• Ovo: £2343/yr

I don't think there's a lot in it, whatever you choose.

krissy08

Thank you so much QrizB ,

I apologise if my original post was unclear- I am currently with Octopus on a variable Avro deal as I was transferred after AVRO crashed.
The 2338 /year deal is their offer of a fixed rate for 12 months which I have not taken up yet. The standard rate is usually somewhere between both rates and not just the 'day rate' but at the moment, the offer does not show that presumably because it defaults to the meter at the address so economy 7 for mine.
I note octopus have a 5p per day standing charge loyalty discount on my bill- so may just stick with them.

Alnat1

Not much in it but if you could switch some of your use to the cheap overnight rate you could save a bit.

QrizB

krissy08 said:

Thank you so much QrizB

No problems, I'm glad to have helped.

krissy08 said:

The standard rate is usually somewhere between both rates and not just the 'day rate' but at the moment, the offer does not show that presumably because it defaults to the meter at the address so economy 7 for mine.

If you enter your postcode here (ignore the "get a quote" button) you'll get a list of tariffs.

https://octopus.energy/tariffs/

One of those will match your offer but will also tell you the standard rate.

For me, I get this as the "Loyal Octopus" tariff. Your unit rates seem to be fractionally lower than mine but a higher electricity standing charge:

krissy08

This is so helpful thanks again. I would rather not move if I don't have to.

I will take a look at the link.


Cheers