Economy 7 July price drop?

Parslee

Had an email from Octopus to say my energy prices are "dropping" 17% I thought that was good until I looked at it:-

Day rate reducing from 42.459p to  36.796p
Night rate reducing from 16.780p to 16.404p

I'd hardly call the night rate a price drop more of an insult.

dunstonh

Parslee said:

Had an email from Octopus to say my energy prices are "dropping" 17% I thought that was good until I looked at it:-

Day rate reducing from 42.459p to  36.796p
Night rate reducing from 16.780p to 16.404p

I'd hardly call the night rate a price drop more of an insult.

If you don't like their ratio, then switch to another supplier with a ratio you prefer.

I cannot see any insult there.

Spoonie_Turtle

Parslee said:

Had an email from Octopus to say my energy prices are "dropping" 17% I thought that was good until I looked at it:-

Day rate reducing from 42.459p to  36.796p
Night rate reducing from 16.780p to 16.404p

I'd hardly call the night rate a price drop more of an insult.

Isn't that good for summer, when you'll presumably have less night usage (no need for storage heaters) and perhaps more day usage (for keeping cool, for instance)?  It's not a price increase either despite the removal of the EPG subsidy.  Decent news surely, even if not spectacular.

CSI_Yorkshire

If you feel insulted by a price drop, you can always offer to keep paying today's prices.

Parslee

The reason I'm angry is that up until February I was paying 5.6p for the night rate on a fixed rate tariff which for storage radiators still worked out very expensive, when it jumped to 16.780p it became unaffordable and to see barely no reduction in that charge when Economy 7 customers have seen their bills increased far more then the standard tariff is wrong.  It's not just Octopus it's the lot of them, something should have been done to stop them hiking the price so high in the first place.

Swipe

Spoonie_Turtle said:

Parslee said:

Had an email from Octopus to say my energy prices are "dropping" 17% I thought that was good until I looked at it:-

Day rate reducing from 42.459p to  36.796p
Night rate reducing from 16.780p to 16.404p

I'd hardly call the night rate a price drop more of an insult.

Isn't that good for summer, when you'll presumably have less night usage (no need for storage heaters) and perhaps more day usage (for keeping cool, for instance)?  It's not a price increase either despite the removal of the EPG subsidy.  Decent news surely, even if not spectacular.

What makes you think it will be any different come winter? Do you really think they'll lower the night ratio in favour of the customers?

CSI_Yorkshire

Parslee said:

The reason I'm angry is that up until February I was paying 5.6p for the night rate on a fixed rate tariff which for storage radiators still worked out very expensive, when it jumped to 16.780p it became unaffordable and to see barely no reduction in that charge when Economy 7 customers have seen their bills increased far more then the standard tariff is wrong.  It's not just Octopus it's the lot of them, something should have been done to stop them hiking the price so high in the first place.

You're annoyed because you came off a cheap fix and now have to pay the same as everyone else?  No sympathy for that.

Prices have gone up.  Who do you think should subsidise your discount?

dunstonh

Parslee said:

The reason I'm angry is that up until February I was paying 5.6p for the night rate on a fixed rate tariff which for storage radiators still worked out very expensive, when it jumped to 16.780p it became unaffordable and to see barely no reduction in that charge when Economy 7 customers have seen their bills increased far more then the standard tariff is wrong.  It's not just Octopus it's the lot of them, something should have been done to stop them hiking the price so high in the first place.

That is a funny thing to get angry about.     You did well with a fixed rate deal but now you are with the rest of us at the energy cap.   You don't say what the peak rate was when you were paying 5.6p for off peak but you cannot call 5.6p off peak rate expensive. 

Economy 7 customers have not seen their bills increase for more than single rate.   The cap applies to single rate and multi-rate.    Some people who are on the wrong tarrif to suit their use have seen increases where the provider favours off peak over peak (or vice versa).    I am on economy 7 and I am currently paying less than I was in 2021.  Mainly by shopping around and changing supplier to one that suited my peak/off peak ratio.

 

Swipe

dunstonh said:

Parslee said:

The reason I'm angry is that up until February I was paying 5.6p for the night rate on a fixed rate tariff which for storage radiators still worked out very expensive, when it jumped to 16.780p it became unaffordable and to see barely no reduction in that charge when Economy 7 customers have seen their bills increased far more then the standard tariff is wrong.  It's not just Octopus it's the lot of them, something should have been done to stop them hiking the price so high in the first place.

I am on economy 7 and I am currently paying less than I was in 2021.  Mainly by shopping around and changing supplier to one that suited my peak/off peak ratio.

 

You are very fortunate. For anyone to be able to match your off peak rate they would need to move to your region.

Ryan_Holden

You can always ask them if you can come off E7 and just have the single flat rate, but I think you'll be disappointed for your use.

Your bill went down, not a lot, but it went down.

Officer_Dibble

CSI_Yorkshire said:

If you feel insulted by a price drop, you can always offer to keep paying today's prices.

I'm on Flux and I'd much rather take today's prices than the new ones. I'll write and tell them that I'm insulted and see what they say...