Octopus, have they let down their SOLR customers?

k_man

Ultrasonic said:

Mstty said:

Someone has failed her perhaps it was her previous energy company or Ofgem but right now it's where she is that is failing her at this point in time.

Meanwhile eon next just offered our neighbours, as we both joined Symbio for cheap electricity, their loyal customer discount deal so they have fixed at approx 14% increase in kWh price for electricity over the current cap despite being an SOLR Symbio customer Eon see then as a loyal customer to offer a great fix to. Go figure 

Arguably Vladimir Putin is the most significant person/entity 'failing' people right now. In terms of the immediate crisis we then get into the details of the government support offered.

I do understand your frustration with Octopus when you're also aware of fixes like that e-one Next one (although standing charges and the gas costs matter too). I slightly wonder how apparently cheap fixes are available to anyone right now. Possibly they're targeted at particular customers based on their usage rather than to all?

This is confusing me too. If these really are cheap and good value, as suggested, isn't that going to cost the providers in the long run?
I can't see them making a massive amount over the summer from the above SVT rates.

Unless the providers know something we dont.

If this were a working open market, then I can see the drivers: attract new customers, and retain existing.

Mstty

k_man said:

Ultrasonic said:

Mstty said:

Someone has failed her perhaps it was her previous energy company or Ofgem but right now it's where she is that is failing her at this point in time.

Meanwhile eon next just offered our neighbours, as we both joined Symbio for cheap electricity, their loyal customer discount deal so they have fixed at approx 14% increase in kWh price for electricity over the current cap despite being an SOLR Symbio customer Eon see then as a loyal customer to offer a great fix to. Go figure 

Arguably Vladimir Putin is the most significant person/entity 'failing' people right now. In terms of the immediate crisis we then get into the details of the government support offered.

I do understand your frustration with Octopus when you're also aware of fixes like that e-one Next one (although standing charges and the gas costs matter too). I slightly wonder how apparently cheap fixes are available to anyone right now. Possibly they're targeted at particular customers based on their usage rather than to all?

This is confusing me too. If these really are cheap and good value, as suggested, isn't that going to cost the providers in the long run?
I can't see them making a massive amount over the summer from the above SVT rates.

Unless the providers know something we dont.

If this were a working open market, then I can see the drivers: attract new customers, and retain existing.

Some analyst are starting to quote circa £2200 price caps for the summer and winter so maybe those offering the fix are letting a certain percentage of customers in on these deals taking a little risk. Earlier on this year the deals seemed number of customers taking the deal then it ended rather than a fixed end date to take the deal?

k_man

Mstty said:

k_man said:

Ultrasonic said:

Mstty said:

Someone has failed her perhaps it was her previous energy company or Ofgem but right now it's where she is that is failing her at this point in time.

Meanwhile eon next just offered our neighbours, as we both joined Symbio for cheap electricity, their loyal customer discount deal so they have fixed at approx 14% increase in kWh price for electricity over the current cap despite being an SOLR Symbio customer Eon see then as a loyal customer to offer a great fix to. Go figure 

Arguably Vladimir Putin is the most significant person/entity 'failing' people right now. In terms of the immediate crisis we then get into the details of the government support offered.

I do understand your frustration with Octopus when you're also aware of fixes like that e-one Next one (although standing charges and the gas costs matter too). I slightly wonder how apparently cheap fixes are available to anyone right now. Possibly they're targeted at particular customers based on their usage rather than to all?

This is confusing me too. If these really are cheap and good value, as suggested, isn't that going to cost the providers in the long run?
I can't see them making a massive amount over the summer from the above SVT rates.

Unless the providers know something we dont.

If this were a working open market, then I can see the drivers: attract new customers, and retain existing.

Some analyst are starting to quote circa £2200 price caps for the summer and winter so maybe those offering the fix are letting a certain percentage of customers in on these deals taking a little risk. Earlier on this year the deals seemed number of customers taking the deal then it ended rather than a fixed end date to take the deal?

Good point.

Almost as if they offers these, just so they can claim they did, but limit any significant exposure

wakeupalarm

Mstty said:

Some analyst are starting to quote circa £2200 price caps for the summer and winter so maybe those offering the fix are letting a certain percentage of customers in on these deals taking a little risk. Earlier on this year the deals seemed number of customers taking the deal then it ended rather than a fixed end date to take the deal?

Which analysts?
Which Summer and Winter, 2022? 2023?

si_74

The next energy price cap level, for October 1st, is assessed from the wholesale market between the 1st Feb and the 18th August, so by my reckoning the energy companies will now be able to have a pretty good estimate of what it will be.

My logic is telling me that deals will be shortlived because, as we approach October, the energy companies calculation will change. So if you take a deal out in May that is over the current price cap, but below the October one, then the company has 4 months to recoup some extra income. If you take a deal in June then the company has 3 months to make the extra income and so on. I am guessing, but the may cause the fixed deals to get less attractive over the next few months.

Also worth noting that the companies will buy their energy well in advance so the fixed rates on offer could be for energy that has already been purchased.

Mstty

Just an update

Octopus have today (and through their partner suppliers Ebico) raise their fixed rates to crazy high levels above the expected price cap in October 22 and Jan 23

If you are an Octopus customer please consider the following Octopus plans quickly and get on them asap before you have no options ledt

Octopus Agile for Electricity
Octopus Tracker v3 for gas

ed1su

Mstty said:

Just an update

Octopus have today (and through their partner suppliers Ebico) raise their fixed rates to crazy high levels above the expected price cap in October 22 and Jan 23

If you are an Octopus customer please consider the following Octopus plans quickly and get on them asap before you have no options ledt

Octopus Agile for Electricity
Octopus Tracker v3 for gas

Hi Mstty thanks for the head up, how do we sign up with them these tariff. I was on Avero ... My current usage is

Flexible Avro October

2021 v1

Elec 2335

Gas 19360

I have smart meter recently from Octopus

Ed1su

[Deleted User]

Mstty said:

Just an update

Octopus have today (and through their partner suppliers Ebico) raise their fixed rates to crazy high levels above the expected price cap in October 22 and Jan 23

If you are an Octopus customer please consider the following Octopus plans quickly and get on them asap before you have no options ledt

Octopus Agile for Electricity
Octopus Tracker v3 for gas

Before you advocate these tariffs to the wider public, you need to outline the requirements; conditions and the potential pitfalls.

For example, the Agile Electricity import tariff requires a smart meter which is set to a 30 minute usage recording profile. Octopus pulls data from smart meters on 30 minute profiles once a day. The loss of data from just one of 48 daily usage segments stops automatic billing as billing is based on usage not meter index readings. If Octopus is unable to pull the daily usage data, then it reserves the right to bill at its flexible tariff rate based on index readings. This is significant.  Last year, following a firmware update, a certain make of SMETS2 electricity meter was returning daily index readings but an empty XML file. The XML file contains the 30 minute usage data. This situation persisted for 7 months until a firmware update was deployed.

 The cost of electricity used shown on an IHD will be wrong as Octopus does not update the Agile tariff information sent to the meters on a daily basis: it uses an equivalent unit cost.

I am a strong supporter of Octopus’ time-of-use tariffs but they do the require the consumer to pro-actively manage their accounts. If necessary, Octopus needs to be advised if monthly billing doesn’t happen or any data loss can be seen in the various billing tools that are available. Octopus still describes Agile import as a beta tariff: this hasn’t changed in the last 3 years.

Tracker is not a smart meter tariff so it doesn’t come with as many potential traps for consumers.

[Deleted User]

You can sign up for the Agile Import (there is also an Agile Export) here:

https://octopus.energy/agile/

ed1su

ed1su said:

Mstty said:

Just an update

Octopus have today (and through their partner suppliers Ebico) raise their fixed rates to crazy high levels above the expected price cap in October 22 and Jan 23

If you are an Octopus customer please consider the following Octopus plans quickly and get on them asap before you have no options ledt

Octopus Agile for Electricity
Octopus Tracker v3 for gas

Hi Mstty thanks for the head up, how do we sign up with them these tariff. I was on Avero ... My current usage is

Flexible Avro October

2021 v1

Elec 2335

Gas 19360

I have smart meter recently from Octopus

Ed1su

Further to this I have solar panels with FIT payments so my usage mostly will come after 4pm.