Octopus

Pat_Clayton
Pat_Clayton Forumite Posts: 8
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I am an existing direct debit customer with Octopus who today have offered me a fixed rate tariff
is this a good deal

Comments

  • CSI_Yorkshire
    CSI_Yorkshire Forumite Posts: 1,792
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    Maybe, maybe not.

    Depends what the offer is and what you think will happen to variable prices.

    We cannot tell you what will happen.
  • oldernonethewiser
    oldernonethewiser Forumite Posts: 1,240
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    If you have done the sums and are happy with the offer then yes it is a good deal.


    Things that are differerent: draw & drawer, brought & bought, loose & lose, dose & does, payed & paid


  • Neil49
    Neil49 Forumite Posts: 2,904
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    My fixed term contract with British Gas ends in a few days time and I have been checking various tariffs available at the moment.

    My findings are that there is very little saving between going onto a variable tariff compared with a new fixed one. The big difference is that a variable tariff allows you to move to another supplier (should I competitive rate become available) without a penalty charge whereas once you commit to a fixed rate tariff then the fees for leaving are around £75 to £100 per fuel.

    Personally I am going to just run onto the variable tariff and see what happens over the next few months. 
  • CSI_Yorkshire
    CSI_Yorkshire Forumite Posts: 1,792
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    Neil49 said:
    My fixed term contract with British Gas ends in a few days time and I have been checking various tariffs available at the moment.

    My findings are that there is very little saving between going onto a variable tariff compared with a new fixed one. The big difference is that a variable tariff allows you to move to another supplier (should I competitive rate become available) without a penalty charge whereas once you commit to a fixed rate tariff then the fees for leaving are around £75 to £100 per fuel.

    Personally I am going to just run onto the variable tariff and see what happens over the next few months. 
    A bigger difference is that the variable rate can go up whereas a fixed one can't.
  • bristolleedsfan
    bristolleedsfan Forumite Posts: 11,694
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    edited 28 July at 6:00AM
    Neil49 said:
    My fixed term contract with British Gas ends in a few days time and I have been checking various tariffs available at the moment.

    My findings are that there is very little saving between going onto a variable tariff compared with a new fixed one. The big difference is that a variable tariff allows you to move to another supplier (should I competitive rate become available) without a penalty charge whereas once you commit to a fixed rate tariff then the fees for leaving are around £75 to £100 per fuel.

    Personally I am going to just run onto the variable tariff and see what happens over the next few months. 
    No exit fees/charges if subsequently change to another British Gas Tariff including back to SVR


  • westv
    westv Forumite Posts: 5,867
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    Octopus do seem a bit mean applying the fee to any change either same supplier or another.
  • bristolleedsfan
    bristolleedsfan Forumite Posts: 11,694
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    westv said:
    Octopus do seem a bit mean applying the fee to any change either same supplier or another.
    Yes .........
  • Pat_Clayton
    Pat_Clayton Forumite Posts: 8
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    thanks to all of you who posted very helpful comments.I have decided to stay with the variable tariff and live with a bit of uncertainty
  • bristolleedsfan
    bristolleedsfan Forumite Posts: 11,694
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    edited 29 July at 12:08PM
    thanks to all of you who posted very helpful comments.I have decided to stay with the variable tariff and live with a bit of uncertainty
    Octopus Tracker has been cheaper than flexible tariff all days for many months, SC is less, kWh rate changes daily, requires smart meter, todays rates Yorkshire region.


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