Octopus Customers - Are you considering taking up their fixed price offer?

What_time_is_it

On the face of it, it looks quite good. Slightly lower than current rates and the predicted rates over winter at around 27p a unit for electricity and just under 7p a unit for gas and standing charges more or less unchanged.

What do you think?

What_time_is_it

This is the fixed price offer in full:

12 month fix (£150 early exit fee overall)

⚡ Electricity Daily standing charge  48.66p /day Unit rate  27.60p /kWh Early exit fee (For changing tariff or supplier) £75 🔥 Gas Daily standing charge  27.47p /day Unit rate  6.92p /kWh Early exit fee (For changing tariff or supplier) £75

Alnat1

Take it if you're the kind of person who likes/needs certainty for their energy bills.

yorkiechick

I have, because it is a saving on what I was on previously. I've never stayed with an energy company longer than one term, until I signed up to Octopus and I've been with them for 4 years now. No other company has been cheaper or better service, so I'm happy to stay.

What_time_is_it

@Alnat1 - Not really, no. I'm just trying to weigh up what will most likely be the cheaper option.

Alnat1

Would you be happy if the opinions of random people on a forum swayed you to do what may turn out to be the wrong choice? 

Toss a coin? Nobody knows. 

jazyjames

How do Octopus compare with other providers for both quality of service and competitive fixed rate deals.

Alnat1

Service, generally very good.

Fixed price deals, not the best, they concentrate on special tariffs, time of use, EV, solar and battery etc.

Xbigman

I just signed up to this for gas only and stayed on Tracker for electric. Gas rates might go a bit lower but I don't think it will be by much, but a fix also locks in the Gas standing charge for a year and that's only going to go up. 

Note. West midlands unit rate is 6.97


Darren

What_time_is_it

Thanks guys.
@Alnat1 - I like to find out what other people think about things. I only know 1 other person who is an Octopus customer so it's useful to canvas the opinions of a wider range of people. Isn't that point of an online forum? Just trying to build up a more rounded picture.

Dolor

I think you will find that Fuse is offering a cheaper tariff than Octopus at the moment: if not, it could be in trouble with the ASA. 

In my experience, when most people post on this forum with a ‘should I: shouldn’t I’ type of question then their actions are similar to the way that a drunk uses a lamppost: for support not illumination. It is a strength (or weakness depending on one’s point of view) of human nature that people like to follow the herd. This is why people switched en masse to unknown small suppliers because ML recommended that they do so.