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Octopus Engergy - Fixed Price Tariffs

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RicVic
RicVic Posts: 6 Forumite
Third Anniversary First Post
I received an email over the weekend from Octopus saying that they're offering fixed price tariffs again.

I'm currently on the Flexible Octopus tariff and my direct debit is £195 per month (this amount was due to arrears on my account and I'm now £263.19 in credit)

It's the Loyal Octopus 12m fixed with a monthly estimate of £136.49, although there are early exit fees of £75 for both gas & electric (total of £150)

Electricity
Daily standing charge - 47.95p per day
Unit rate - 30.96 per kWh

Gas
Daily standing charge - 27.47p per day
Unit rate - 7.77p per kWh

Current Flexible Octopus tariff is with a monthly estimate of £134.10

Electricity
Daily standing charge - 47.95p per day
Unit rate - 30.30p per kWh

Gas
Daily standing charge - 27.47p per day
Unit rate - 7.61p per kWh

I'm really unsure whether to remain on the flexible tariff or move over to the fixed one.  Any advice would be gratefully received.

Comments

  • Forget £s and think kWh/year. Do your own cost calculation based on actual usage. 

    If you are anxious about energy prices, then a fix is a good idea. 
  • Scot_39
    Scot_39 Posts: 3,459 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Check the exit fee terms.

    Earlier posts on Octopus fix said could not avoid - even on an internal swap to another fix or SVT.

  • Organgrinder
    Organgrinder Posts: 755 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    I've just been offered these rates, 6% lower than current price cap.
  • Scot_39
    Scot_39 Posts: 3,459 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Still looks as insisting on hard exit fees - but if 6% cheaper that's a useful saving.

    Unlike the ops offer where unit rates where marginally higher so paying £2+ per month more probably with same restriction.


  • bristolleedsfan
    bristolleedsfan Posts: 12,644 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 26 July 2023 at 3:24PM
    Unit rates are now slightly cheaper than current flexible - SC same -  New version albeit incorrectly named on tariff list, customers who fixed on previous version appear to have lost out as expected.

    Flexible charges predicted to fall/reduce from 1 October.

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