Octopus Loyalty 12m

ENYAJT

I've been offered this deal.  I know we've been told not to switch - but is this any good considering the further increases that are on the way?

Chrysalis

I have the same offer, I have noticed Octopus fixed deals are considerably worse than EDF etc.

Someone on another supplier very recently fixed at 34p unit rate which is almost 20% lower than Octopus.

Mstty

As you are pretty much stuck with Octopus and they aren't known for their good deal fixes it's still worth considering. Reason being if you take it now it won't cost you too much extra as most people's energy use is very low this time of year. Combined with the zero exit fees means come October you can ditch it if the Scary October price cap is somehow wrong.

Spies

Tracker is arguably a better shout right now as otherwise you'll be paying the higher unit rate 4 months leading up to the October price cap.

Mstty

@spies Not if the fix ends up cheaper than the October price cap, if they go on tracker that fix will probably disappear and go up between now and Oct.

Everyone has become an energy gambler lol if the cap moves on tracker v3 then all bets are off.

k_man

Chrysalis said:

I have the same offer, I have noticed Octopus fixed deals are considerably worse than EDF etc.

Someone on another supplier very recently fixed at 34p unit rate which is almost 20% lower than Octopus.

From another thread, the previous good deal from EDF has already gone.

https://forums.moneysavingexpert.com/discussion/comment/79282489/#Comment_79282489

A cynical person may think the suppliers were just headline grabbing with fixes available for a short time.

Spies said:

Tracker is arguably a better shout right now as otherwise you'll be paying the higher unit rate 4 months leading up to the October price cap.

As long as we get some wind, to bring electricity costs down (and Octopus don't remove the cap), Tracker is indeed like a fix, but with some better days.

pochase

The 20% deal was excellent. Everybody who was offered it and spend time considering it lost out.

The current market does not allow much time for consideration if a deal suits you. Better to fix and use the cooling off period.

Xbigman

Chrysalis said:

Someone on another supplier very recently fixed at 34p unit rate which is almost 20% lower than Octopus.

Very recently is a long time ago in the energy market.


Darren

QrizB

ENYAJT said:

I've been offered this deal.  I know we've been told not to switch - but is this any good considering the further increases that are on the way?

In my opinion, despite having been a fairly poor deal since it was introduced in April, with the recent increase in the expected cap to very nearly £3000/yr "Loyal Octopus 12m Fixed April 20220 v1" is beginning to look attractive.

I agree with Spies and k_man that, so long as Octopus continue to honour their non-contractual caps, Tracker appears to be a better deal than Loyal Octopus.

SuperHans1

I keep hearing about this Octopus tracker but how do I find out more about it? There are no rates published until you sign up as far as I can see from the Octopus site? Is it currently cheaper than the price cap?

MWT

SuperHans1 said:

I keep hearing about this Octopus tracker but how do I find out more about it? There are no rates published until you sign up as far as I can see from the Octopus site? Is it currently cheaper than the price cap?

The current daily rates are shown on the Octopus Tariff list just like all their other tariffs.

Here are the rates today, for the Eastern region...

The way the tariff works and the current caps are shown on the website pages for that tariff in the FAQ section.