New to paying my own energy…

emma_frost

After guidance please! 

Due to complete on a new home this week and the current energy supplier is Octopus. Previously owned a leasehold so all energy was paid through the service charge, for many years. I am out of touch with it all and not sure what I should be looking for in a provider. 

Should I stick with Octopus? What tariff should I choose? 

3bed semi, sole occupant (if it matters!)

thanks

macman

There is no point in switching suppliers at present, as the cheapest deal is SVT under the EPG.  This may change from 1 July, in which case you can review suppliers then. If you have specific requirements (eg solar panel export, an electric car to charge) then Octopus offer a number of innovative TOU tariffs.
Octopus generally has a good reputation for service. I contact them via Twitter and usually get a same day response.

Scot_39

Octopus appear to be well regarded by many poster's here - but they don't support my legacy tariff type - so cannot switch to them or speak from personal experience.

So suspect most would probably say - stay put - then review when settled in.

They are also one of the few suppliers who discount the Ofgem standing charges (works out about 4% iirc for dual fuel electric / gas iirc - depending on region - about £12 pa in c£300 - so small )

Re tariffs - possibly need a bit more information.

How is the new property heated, how is hot water heated (electric or gas - if electric - is it configured for a time of use tariff like e7).

Do you have an electric vehicle ?

There isn't much to choose between a lot of suppliers on unit prices - yet - but that may change in July as Ofgem Cap drops below EPG pricing.

Unless on an E7 time of use - there's not been any real cost based switching for gas and single rate electric for last 8m or fixes (Ovo just launched one last month - for 12m)

They do the standard type tariffs, a selection of EV tariffs and also do some very interesting more advanced tariffs that others here seem to also love right now anyway - like Agile - but these might be a bit of a longer time decision if unfamiliar.

Have they offered you a tariff type yet - or has your solicitor gotten the details from the vendor - the actual tariff name ?

Chances are regardless of the existing owner's selected tariff - they will default you to the meter type fitted - so if an e7 meter - they will offer you a E7 style tariff - if on single rate meter - there single rate SVT tariff at govt EPG prices until July.

Mstty

Even though it's a new home your meters won't start at zero so make sure on move in day you read the water, electricity and gas meters and keep photos of them as well.

Contact Octopus and the water company and give them your start readings.

Robin9

Mstty said:

Even though it's a new home your meters won't start at zero so make sure on move in day you read the water, electricity and gas meters and keep photos of them as well.

@emma_frost - and make sure you read them -  even if they are Smart - every month. Keep your own records.

For gas and electric budget £200 month

wild666

One way of predicting your energy usage if in the first week take daily readings, if it's summer the predictions will be low so these should be how much energy you will use on average throughout the spring/summer months. Then as it approaches autumn/winter do the same again for a week and this would give an average usage. 
If you keep taking regular readings whether it's daily or weekly after 12 months you'll have an estimate of what you should be paying each month by DD. 
If the heating is gas you could lower the temperatures on the boiler if it allows that, then you could save money, also lowering the thermostat to 18 degrees could see a considerable saving over having the thermostat at 21degrees or higher. Lowering the temperature of the water to the radiators could also lower the heating bill. I have mine at 39 degrees with the thermostat at 16 degrees and it only costs me £2.30 for 7 hours usage.