Octopus, energy, direct debit

Spoonie_Turtle

sourpuss2021 said:

I’ve just today found I can’t log in to my Bulb account as it says I’ve been transferred to Octopus.   I presume I’ll be getting an email from them soon?   I’ve downloaded the Octupus app but wasn’t able to log in using my Bulb password.

My Bulb bill is also usually generated on the 1st or 2nd, and I’d already manually paid about what I expect it to be.  So I’ll have to see if I get a new Octopus bill in the next couple of days instead.

I’m another direct debit refusenik, paying variably by bank card. But may have to change if the penalty for this with Octopus is harsh.

You could pay by variable Direct Debit, get the DD discount but still only pay for what you use each month.  Or pay a low, token DD and top up the balance by bank card if you get cashback from the card (currently what I'm doing).

cm4ever

sourpuss2021 said:

I’m another direct debit refusenik, paying variably by bank card. But may have to change if the penalty for this with Octopus is harsh.

Then why not just pay by variable direct debit - all the benefits of your current method of payment, without the penalty tariff increase from the standard monthly direct debit rates?

You pay your variable bill completely every month, via direct debit - it's what you're already doing but automatically.

@Spoonie_Turtle sorry didn't see your reply on the next page 

sourpuss2021

Thanks both for your replies.  Traditionally I paid by card at random times during the month.   But yes I see I’ll need to become more disciplined and switch over to a direct debit.   I may choose to pay a fixed amount too if Octopus set it at a realistic amount.

I wonder if I will be penalised for not already having a DD in place for the first Octopus bill, which will presumably be generated in the next few days, despite me not having been given the option of setting one up (which I didn’t ever do with Bulb as there was no penalty in not).

Well, best not to get ahead of myself, I’ll wait and see!

MikeJXE

sourpuss2021 said:

Thanks both for your replies.  Traditionally I paid by card at random times during the month.   But yes I see I’ll need to become more disciplined and switch over to a direct debit.   I may choose to pay a fixed amount too if Octopus set it at a realistic amount.

I wonder if I will be penalised for not already having a DD in place for the first Octopus bill, which will presumably be generated in the next few days, despite me not having been given the option of setting one up (which I didn’t ever do with Bulb as there was no penalty in not).

Well, best not to get ahead of myself, I’ll wait and see!

You will have higher rates if you are not DD 

If you know your annual usage from your previous supplier divide that by 12 and set your DD at that and see how it goes, at least you will be paying DD rates 

When I joined  and set up my own  DD it was more or less instant 

It also helps to send them a meter reading every month smart meter or not. 

Raxiel

Spoonie_Turtle said:

sourpuss2021 said:

I’ve just today found I can’t log in to my Bulb account as it says I’ve been transferred to Octopus.   I presume I’ll be getting an email from them soon?   I’ve downloaded the Octupus app but wasn’t able to log in using my Bulb password.

My Bulb bill is also usually generated on the 1st or 2nd, and I’d already manually paid about what I expect it to be.  So I’ll have to see if I get a new Octopus bill in the next couple of days instead.

I’m another direct debit refusenik, paying variably by bank card. But may have to change if the penalty for this with Octopus is harsh.

You could pay by variable Direct Debit, get the DD discount but still only pay for what you use each month.  Or pay a low, token DD and top up the balance by bank card if you get cashback from the card (currently what I'm doing).

Indeed, at the very least you know what the bill for the standing charge is, so that's easy to predict.

I agree a variable DD is more straightforward.

Like others though, I've taken advantage of Octopus' facility to set my own fixed DD, currently about half their recommendation (probably still a bit high, will keep an eye on it) due to efficiencies that their algorithm hasn't fully adjusted for yet.

Chrysalis

My first variable DD is going out on 8th May, was informed on 28 April.

So about 10 days notice.

Heburn88

Why should he? He has not signed a contract with them.

Grizzlebeard

https://forums.moneysavingexpert.com/discussion/comment/80028280#Comment_80028280

Hi Hepburn

Actually he has. Under the terms and conditions of the contract with Bulb will be a clause that allows Bulb to transfer the contract to a third party.

All Energy companies (and others like Banks, Finance and Insurance) have this clause to cover situations such as the firm going bust - as is the case here.

Dippygoose

After the initial complaint octopus have discovered, it was a computer error and issued me with a £50 goodwill gesture.

[Deleted User]

Grizzlebeard said:

https://forums.moneysavingexpert.com/discussion/comment/80028280#Comment_80028280

Hi Hepburn

Actually he has. Under the terms and conditions of the contract with Bulb will be a clause that allows Bulb to transfer the contract to a third party.

All Energy companies (and others like Banks, Finance and Insurance) have this clause to cover situations such as the firm going bust - as is the case here.

Technically, it never went bust. It was put into Special Administration and bought by Octopus as a going concern. The issue for all consumers is how the costs incurred by the Special Administrator will be recovered.