Octopus Gas/ Electricity Tariff ending on Monday 3rd October - What to do?

GAKent

Our Octopus fixed term ends on Monday and we will be automatically rolled onto Flexible Octopus. Haven't done anything earlier as the advice I got was 'hold fast'.

The Octopus website has a big notice when you put in your postcode :

''Energy prices are at record highs, and most homes will be better off staying with their current energy supplier right now.

If your fixed term is coming to an end, don't choose a new tariff or switch supplier.

Instead, let your supplier automatically move you to their default tariff, so your prices are protected by the Government's Energy Price Cap''

Listening to Martin's video he posted yesterday, it seems the best option is as Octopus says and stay put and get rolled onto the Flexible, but just wanted to check as I am now genuinely confused by the whole thing!!! 

(Our usual bill with two of us in the house is £111 for dual gas electricity which went down to £45 last month with the govt discount)...am expecting this now to sky rocket

Any advice gratefully received!

QrizB

Yes, there's nothing wrong with rolling onto Flexible. It's essentially the same capped tariff that every other supplier is offering.

Spoonie_Turtle

GAKent said:

(Our usual bill with two of us in the house is £111 for dual gas electricity which went down to £45 last month with the govt discount)...am expecting this now to sky rocket

What government discount?  The rates discount didn't start applying until today, and the installments for the £400 won't start until this month's bills.

Octopus' default tariff rates are here https://octopus.energy/blog/energy-price-cap-oct-2022/

The only real competition between suppliers right now is in the day/night rates of Economy 7, and specialist tariffs like EVs and trackers. 

MWT

GAKent said:

(Our usual bill with two of us in the house is £111 for dual gas electricity which went down to £45 last month with the govt discount)...am expecting this now to sky rocket

That isn't your bill, that was your DD payment, and it was adjust down by £66 to  take effect from 1st October, so it didn't affect last month...

... and yes, it will have to go up now your fix has ended.