Octopus Go fixed Rates / Government new rates

vienly

So according to Government:

If you’re on a fixed tariff

If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
These unit prices have been passed to suppliers to ensure that they are used to calculate bills on time for 1 October.
Energy suppliers will adjust fixed tariffs automatically. Customers on fixed tariffs do not need to take any action to get the benefits of this scheme.

How does this work with a Octopus Go fixed tariff at 40p peak / 7.5p off peak?
Unlikely Octopus will reduce it to 23p peak / 7.5p off peak? 

I'm assuming Octopus won't reduce anything?

Mstty

No one's knows for certain at this stage the detail and how energy suppliers interpret this detail is all car too vague at the moment.

The only silver lining is Octopus have a good history of treating their customers well so I expect they will do the same here.

MWT

vienly said:

How does this work with a Octopus Go fixed tariff at 40p peak / 7.5p off peak?

Unlikely Octopus will reduce it to 23p peak / 7.5p off peak? 

I'm assuming Octopus won't reduce anything?

If you use the Ofcom multi-rate assumed split of 58/42% day/night, you would get a blended rate of 26.35p which is below the 34p cap so no adjustment needed.

The simple reality is that we just don't know yet, and any calculations also need to be adjusted for regional variations and payment method, as the government numbers are still national averages assuming single rate tariffs and DD payment.

Petriix

I look forward to finding out, especially once my current fix ends in January. My hope is that they'll reduce the peak rate by 17p, but who knows what the peak rate will be in January.