Outfox the Market

MadMat

Have any outfox customers had a notification of updated tariff / DD amounts yet for the July price change?

They seem to be leaving it rather late,  only a week to go!

Mat

RelievedSheff

No we have not received them yet. We know roughly what they will be so not overly concerned about it.

RelievedSheff

Just found this on their website.

https://help.outfoxthemarket.co.uk/hc/en-gb/articles/8756027949724-July-2023-price-change-What-does-it-mean-for-you-

Looks like they will be offering a 5% discount on the standard rates.

Kennny

I've just received an email from them, confirming the reduction at 5% below the price cap.

Gavjonesuk

Should I stay at 5% less than the cap or look elsewhere? 

Thanks!

thatblokedan

Don't be fooled by the 5% less than the cap ploy. You may notice that they have increased their daily standing charges. They'll get their money somehow.

MadMat

Finally got an email from them,  but this bit worries me

"You may see changes to your Direct Debit in the near future. This is to ensure you are paying a sufficient amount each month."

Anyone else read that as we are going to try to leave your direct debit as it is!

[Deleted User]

MadMat said:

Finally got an email from them,  but this bit worries me

"You may see changes to your Direct Debit in the near future. This is to ensure you are paying a sufficient amount each month."

Anyone else read that as we are going to try to leave your direct debit as it is!

Wow - energy suppliers can’t win. How have you concluded from the email that your direct debit will not change when the supplier has told you it might?  Do your own calculation based on annual usage; tariff cost and any debit/credit balance and then you will know whether the supplier has set a reasonable monthly payment. Or switch to a supplier that lets you adjust your monthly payment (within sensible limits).

RelievedSheff

MadMat said:

Finally got an email from them,  but this bit worries me

"You may see changes to your Direct Debit in the near future. This is to ensure you are paying a sufficient amount each month."

Anyone else read that as we are going to try to leave your direct debit as it is!

No. I read it as they will review our direct debit amount and change it if necessary.

We have done our own sums and reckon we will be paying about £20 too much per month. We are happy if they don't change it to leave the payment as it is to build up some extra credit for the winter months.

RelievedSheff

thatblokedan said:

Don't be fooled by the 5% less than the cap ploy. You may notice that they have increased their daily standing charges. They'll get their money somehow.

Every supplier has increased their standing charges from 1st July.

For a quick comparison I have checked Outfox the Market against EDF and for our area (East Midlands) they are exactly the same:

• Electric = 50.308p
• Gas = 29.112p

The unit rates however are lower, as you would expect, given the 5% discount.

• Electric - EDF = 29.48p per kWh
• Electric - OTM = 28.008p per kWh

• Gas - EDF = 7.379p per kWh
• Gas - OTM = 7.010p per kWh

Granted it is not huge savings a year. But it is better in my pocket then theirs.

It will save us roughly £40 a year electric (2400kWh per annum) and roughly £25 a year gas (6000kWh per annum).

MikeJXE

Octopus hasn't changed my standing charge on Electric or Gas 

The unit rate has come down but I'm not reducing my direct debit till I am certain I have enough credit to cover a bad winter