Octopus fixed tariff

Goffik

Hi all

My latest Octopus energy bill mentions that they are now offering 12 month fixed tariffs again. The monthly amount is about £12 less than my current variable tariff. I can't find any information to say that the costs will be coming down any time soon, and my gut feeling is that they won't, because, well, they never do, do they?

I should add that there is a £150 exit fee, otherwise I'd probably just go for it.

Can anyone point me in the direction of any information that might help me decide, please? Or if anyone knows, are you able to divulge anything useful?

CSI_Yorkshire

QrizB already collected these so I will copy & paste.

Recent threads on the Octopus fix offer include:

1. https://forums.moneysavingexpert.com/discussion/6461951/octopus-engergy-fixed-price-tariffs
2. https://forums.moneysavingexpert.com/discussion/6462950/loyal-octopus-12-month-fix-150-exit-fee-but-95-cheaper-a-year
3. https://forums.moneysavingexpert.com/discussion/6464547/stick-or-twist
4. https://forums.moneysavingexpert.com/discussion/6464551/octopus-customers-are-you-considering-taking-up-their-fixed-price-offer
5. https://forums.moneysavingexpert.com/discussion/6462735/octopus

[Deleted User]

Going for a fixed tariff offers price certainty and insurance against unforeseen World events. Cornwall Insights suggests that, from a cost perspective, there is very little difference between a fixed tariff and Ofgem Cap tariffs for this coming Winter.

Goffik

Oh gawd. Sorry! I Thought I'd searched for previous threads, but obviously failed spectacularly! 

Thanks, both. Exactly the info I was after. I will have a look at the other threads, but I think it seems I may be just as well save myself a few quid, safe in the knowledge that the greedy swines who set these costs have no desire to lower them.

[Deleted User]

safe in the knowledge that the greedy swines who set these costs have no desire to lower them.

I will take the bait. If the ‘greedy swines’ are making vast profits then why is Shell Retail UK looking for a buyer? The Ofgem Cap is set by Ofgem and it includes a 1.9% profit margin soon to rise to 2.4%. Don’t confuse energy suppliers with the companies that drill for gas and oil etc. What they get paid is determined by Global markets.

Goffik

Hah! No need to humour me, but I do appreciate it. Nah, I don't think the suppliers are to blame at all. I'd like to think our wonderful government should shoulder at least a small part of the blame. Mind you, if I had my way I'd blame them for everything.