Apparent 58% price hike when switched from Bulb to Octopus in fact user-error

FCA_ACF

Bulb failed despite a taxpayer bailout. It didn't help that Bulb's CEO, Hayden Wood, continued to fleece us for £250,000/year basic salary.
Now acquired by Octopus, Bulb customers had accounts switched and now find ourselves with a tariff hike from 31p to 49p per kWh. That's a 58% increase. I understand that government relief changed in April, but that wasn't by 58%. How can I determine exactly why this has gone up so much?

[OP edited 14/5/23 as now realise this was user-error. I had not fully read Octopus billing info to see that govt subsidy is reported in a different way to previous Bulb billing layout.]

debitcardmayhem

What tariff ere you on and which region?

FCA_ACF

Hi DCM,

Looks like I'm now on Flexible Octopus April 2023 v1

48.49p/kWh
45.67p/day (£166.70/year)

Previously on Bulb tariff: Pay Monthly Variable

31.92p/kWh
45.67p/day (£166.70/year)

Region is on border of South East / South West

debitcardmayhem

FCA_ACF said:

Hi DCM,

Looks like I'm now on Flexible Octopus April 2023 v1

48.49p/kWh
45.67p/day (£166.70/year)

Previously on Bulb tariff: Pay Monthly Variable

31.92p/kWh
45.67p/day (£166.70/year)

Region is on border of South East / South West

Are you on economy 7?
The rates for electric are in the 30s /kwh max is 34.76

matt_drummer

FCA_ACF said:

Hi DCM,

Looks like I'm now on Flexible Octopus April 2023 v1

48.49p/kWh
45.67p/day (£166.70/year)

Previously on Bulb tariff: Pay Monthly Variable

31.92p/kWh
45.67p/day (£166.70/year)

Region is on border of South East / South West

It's the price before the EPG.

It's not what you are actually paying.

Somebody will correct me if I am wrong.

Spoonie_Turtle

FCA_ACF said:

Region is on border of South East / South West

You can find your supply region here https://mysmartenergy.uk/Electricity-Region

bristolleedsfan

Flexible rates for each region can be found scrolling down

https://octopus.energy/blog/energy-price-cap-apr-2023/

FCA_ACF

thanks DCM and M_D,
I think you're right. The old Bulb bills show cost after EPG applied. New Octopus bill doesn't.
I'm not on Economy 7 but am trying to shift load to night time usage by getting washing machine, dishwasher etc to run at night (difficult as they're older models without timers).
Also want to get a PV array and batteries but it's proving difficult.
thanks 

Spoonie_Turtle

FCA_ACF said:

thanks DCM and M_D,
I think you're right. The old Bulb bills show cost after EPG applied. New Octopus bill doesn't.
I'm not on Economy 7 but am trying to shift load to night time usage by getting washing machine, dishwasher etc to run at night (difficult as they're older models without timers).
Also want to get a PV array and batteries but it's proving difficult.
thanks 

What's the reasoning for doing that?  There's no financial benefit of doing that unless you're on a TOU tariff.  [If anything, colder water at nights would take marginally more energy to heat than in the daytime.]

FCA_ACF

I thought E7 was TOU based, i.e. cheaper off-peak (middle of the night) than peak time.

pochase

But you wrote you are not on E7?