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Octopus Smart PAYG tariff


I cannot find the tariff, and consequently the charges, for it. I have asked Octopus but they're a little slow to respond lately. Anyone here know?
Comments
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Harry_Hardup said:Currently on Flexible Octopus for electricity and gas and getting into debt. Asked for help, provided a budget, and Octopus have offered an electric blanket and a one-off credit to give a Standing Charge Holiday for 6 months and suggested I would find that the Smart PAYG tariff "offers more flexibility than a fixed direct debit".
I cannot find the tariff, and consequently the charges, for it. I have asked Octopus but they're a little slow to respond lately. Anyone here know?
I think what Octopus are suggesting is that you get a standard Direct Debit tariff but then ask them to change the payment method to a variable direct debit. In my experience, that has to be done after the account is up and running.
Smart meters means they will get accurate readings and bill you for what you have actually used. it does mean you'll have larger bills in the winter and much smaller ones on the summer. That's my interpretation of PAYG anyway.
Might make this summer more manageable, but will hit you hard next winter if you're not able to put money aside to cover the heating bills.I’m a Forum Ambassador and I support the Forum Team on the In My Home MoneySaving, Energy and Techie Stuff boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.
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victor2 said:Harry_Hardup said:Currently on Flexible Octopus for electricity and gas and getting into debt. Asked for help, provided a budget, and Octopus have offered an electric blanket and a one-off credit to give a Standing Charge Holiday for 6 months and suggested I would find that the Smart PAYG tariff "offers more flexibility than a fixed direct debit".
I cannot find the tariff, and consequently the charges, for it. I have asked Octopus but they're a little slow to respond lately. Anyone here know?
I think what Octopus are suggesting is that you get a standard Direct Debit tariff but then ask them to change the payment method to a variable direct debit. In my experience, that has to be done after the account is up and running.
Smart meters means they will get accurate readings and bill you for what you have actually used. it does mean you'll have larger bills in the winter and much smaller ones on the summer. That's my interpretation of PAYG anyway.
Might make this summer more manageable, but will hit you hard next winter if you're not able to put money aside to cover the heating bills.
https://octopus.energy/policies/prepayment-meters/
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Rates here, second table https://octopus.energy/blog/energy-price-cap-oct-2022/2
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Southern Region Electricity Unit Rate Gas Unit Rate Standing Charge KW/Hour Standing Charge KW/Hour Flexible Octopus 42.77 34.23 26.84 10.46 Smart PAYG 48.43 34.92 32.17 10.62 Difference 5.66 0.69 5.33 0.15 % increase of switch 13.23 2.02 19.86 1.53
I put the table above together from figures I found following Spoonie_Turtle's link.
Why would I want to switch to a more expensive tariff when I can afford the one I'm on?
Can I be forced to switch?0 -
Can't afford the one I'm on?
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Hello Harry,
Out of interest what is your energy usage? Maybe you could benefit from some advice on cutting back there.
I know you have already contacted Octopus but have you read this page of theirs.
https://octopus.energy/blog/struggling-to-pay/
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Harry_Hardup said:Can't afford the one I'm on?
I’m a Forum Ambassador and I support the Forum Team on the In My Home MoneySaving, Energy and Techie Stuff boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.
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"Octopus smart prepay is cheaper than standard tariffs" Octo Chief
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Harry_Hardup said:Why would I want to switch to a more expensive tariff when I can afford the one I'm on?
Can I be forced to switch?
Whether or not that’s something that would benefit you in any way is more for you to decide - it can be very useful for people who perhaps struggle with budgeting or managing their energy use, but if you’re already on top of things there it may not be worth anything. The costs side is also a little up in the air at the moment, in some regions prepayment electric works out to have cheaper unit rates than direct debit and others it can be more expensive. Although this is expected to change once some (poorly defined at the moment) changes come in which should in theory make prepayment costs the same as DD.
Being forced to switch, while possible, would be highly unlikely at this stage, especially as you’re actively engaging with the supplier. You’d usually have to continue building up debt on the account and not be paying it off for a number of months before they would go down that route, if they do at all. If you’re particularly worried about that aspect of things potentially coming up then, short of finding more money, the only semi-practical alternative would be to consider more drastic measures in cutting down your usage to repaying any debts if the situation doesn’t improve as is.Moo…1 -
Harry_Hardup said:
Southern Region Electricity Unit Rate Gas Unit Rate Standing Charge KW/Hour Standing Charge KW/Hour Flexible Octopus 42.77 34.23 26.84 10.46 Smart PAYG 48.43 34.92 32.17 10.62 Difference 5.66 0.69 5.33 0.15 % increase of switch 13.23 2.02 19.86 1.53
I put the table above together from figures I found following Spoonie_Turtle's link.
Why would I want to switch to a more expensive tariff when I can afford the one I'm on?
Can I be forced to switch?The Octopus PAYG tariff is shown on their normal tariff page: https://octopus.energy/tariffs/Just scroll down to the bottom and enter your post code, then look for "Flexible Octopus Key and Card October 2018 v1"You should find that the electricity will be cheaper than the standard variable rate as long as you are using more than around 1.5kWh each day, but the gas would be a little more expensive.
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