Do we pay Octopus/other energy provider a month after the fact?

TheKDs

I am a bit worried that my bill shows as below. So I paid £142 on the 3rd of May and now owe them £144... Does this simply mean that I owed them 142 on the 12th of April but I only pay it a month later and then again I pay this bill next month? Why am I behind? I had done a set amount but ended up so much in credit, I just moved to dd as billed.

Also, I'm on this tariff. Flexible Octopus November 2022 v1, which says "Prices follow wholesale costs"... is this the same as the tracker that is meant to be cheapest?

On 12th Apr 2023 Your balance was below zero: - £142.58   1. We have charged you These charges are based on your meter readings. VAT is included. Electricity - £102.43 11th Apr 2023 — 10th May 2023 Gas - £42.41 11th Apr 2023 — 10th May 2023 2. You have paid 3rd May 2023 + £142.58   As of 12th May 2023 Your balance is below zero: - £144.84

Gerry1

Flexible Octopus is just the Standard Variable Tariff.  Most people are now on their suppliers' SVT unless they're lucky enough still to be on a long term fixed rate.  Flexible Octopus is not the Tracker tariff.

It sounds like you were on Fixed DD but changed to Variable DD?  If so, it's working fine: you send a reading, it triggers a bill and they collect it later.

[Deleted User]

Your bill is as follows:

Debit Balance 12th April   £142.58

Energy Charges                 £144.84

Amount Owed 12th May = £142.58 + £144.84 =  £287.42

Less Amount Paid =           £142.58

Amount Owed on the 12th May (Debit Balance)  = £287.42 - £142.58 = £144.84

If you are on a monthly DD payment then you need to increase you monthly amount. 

TheKDs

Gerry1 said:

Flexible Octopus is just the Standard Variable Tariff.  Most people are now on their suppliers' SVT unless they're lucky enough still to be on a long term fixed rate.  Flexible Octopus is not the Tracker tariff.

It sounds like you were on Fixed DD but changed to Variable DD?  If so, it's working fine: you send a reading, it triggers a bill and they collect it later.

Yes, that's what I did. 

How does one get on that tracker tariff? Is that still the best? I asked a few months ago.

Gerry1

TheKDs said:

Gerry1 said:

Flexible Octopus is just the Standard Variable Tariff.  Most people are now on their suppliers' SVT unless they're lucky enough still to be on a long term fixed rate.  Flexible Octopus is not the Tracker tariff.

It sounds like you were on Fixed DD but changed to Variable DD?  If so, it's working fine: you send a reading, it triggers a bill and they collect it later.

How does one get on that tracker tariff? Is that still the best? I asked a few months ago.

I believe there's a six-month waiting list but no doubt someone more knowledgeable will soon be along to confirm.

[Deleted User]

Gerry1 said:

TheKDs said:

Gerry1 said:

Flexible Octopus is just the Standard Variable Tariff.  Most people are now on their suppliers' SVT unless they're lucky enough still to be on a long term fixed rate.  Flexible Octopus is not the Tracker tariff.

It sounds like you were on Fixed DD but changed to Variable DD?  If so, it's working fine: you send a reading, it triggers a bill and they collect it later.

How does one get on that tracker tariff? Is that still the best? I asked a few months ago.

I believe there's a six-month waiting list but no doubt someone more knowledgeable will soon be along to confirm.

Six months at least given that Octopus is only allowing a certain number of sign ups each day. That said, it will only take a few days of high wholesale prices to see a massive exodus of customers. Tracker tariffs are a bit shares: you have to be prepared for some pain. To be eligible, you now need to agree to getting a smart meter.

wild666

If you're worried about there being a debt on the account you could pay a one off payment to reduce or clear the debt.

I believe there's a six-month waiting list but no doubt someone more knowledgeable will soon be along to confirm.

If it's only 6 months then they should be contacting me soon as I but I not expecting anything soon as I sent my email address to join in December 2022 then again in Jan 2023. If the rates are less than the SVR then I would want to be on the tracker ASAP. 

victor2

TheKDs said:

I am a bit worried that my bill shows as below. So I paid £142 on the 3rd of May and now owe them £144... Does this simply mean that I owed them 142 on the 12th of April but I only pay it a month later and then again I pay this bill next month? Why am I behind? I had done a set amount but ended up so much in credit, I just moved to dd as billed.

Also, I'm on this tariff. Flexible Octopus November 2022 v1, which says "Prices follow wholesale costs"... is this the same as the tracker that is meant to be cheapest?

On 12th Apr 2023 Your balance was below zero: - £142.58   1. We have charged you These charges are based on your meter readings. VAT is included. Electricity - £102.43 11th Apr 2023 — 10th May 2023 Gas - £42.41 11th Apr 2023 — 10th May 2023 2. You have paid 3rd May 2023 + £142.58   As of 12th May 2023 Your balance is below zero: - £144.84

You paid April's bill on May 3. Once you pay the £144.84, the next bill will show a similar layout.
You are paying for your utilities in arrears, and in the summer wil have relatively low payments, but they will increase significantly once it gets cold enough to need the heating on again.

bristolleedsfan

wild666 said:

I believe there's a six-month waiting list but no doubt someone more knowledgeable will soon be along to confirm.

If it's only 6 months then they should be contacting me soon as I but I not expecting anything soon as I sent my email address to join in December 2022 then again in Jan 2023. If the rates are less than the SVR then I would want to be on the tracker ASAP. 

Waiting list started middle of February, prior to that just needed to ask them to change to tracker tariff.

Customers have been getting invited from waiting list that started 15th February to join tracker tariff anything from 2 months onwards

MWT

wild666 said:

If the rates are less than the SVR then I would want to be on the tracker ASAP. 

Keep in mind that the rate changes every day so just because it has been cheaper than SVT, does not mean it will always be so...

Too many people don't take the time to understand the tariff they are asking to be put onto and then complain later if it bites...

Alnat1

MWT said:

Too many people don't take the time to understand the tariff they are asking to be put onto and then complain later if it bites...

It wouldn't really be a bite, more of a little nibble because you can ring/Tweet Octopus and switch from Tracker to SVT the same day, should prices suddenly rise.