October 2023 Octopus Fix

cherry76

Am in the same position, not sure whether to fix for 12 months or remain on Octopus flexible tariffs. Still undecided to fix or not.

bristolleedsfan

Cheaper 12 month fixed rate for both fuels now being offered.

Slinky

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Neil49

Slinky said:

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Same for me. They are quoting a higher annual electric consumption than the one I provided when I switched to them in early August. I've kept monthly/annual consumption figures for years and their new estimate for electricity is about 25% higher than it should be.

I'll check the figures in more detail but will probably go with the fix in any case. 

MultiFuelBurner

Slinky said:

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Neil49 said:

Slinky said:

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Same for me. They are quoting a higher annual electric consumption than the one I provided when I switched to them in early August. I've kept monthly/annual consumption figures for years and their new estimate for electricity is about 25% higher than it should be.

I'll check the figures in more detail but will probably go with the fix in any case. 

Energy suppliers have to take into account weather predictions as well. Last year was such a mild winter and this is an El niño year after all.

Depending which supplier you are with you can normally reduce the DD set by the supplier or even just pay for what you use on a variable direct debit and still reap the benefits of the DD reductions.

Just monitor and reduce as you see fit. 

luvchocolate

I've only been with Octopus since June..everything fine. 
Sent a meter reading and got bill 24 hrs later and an invitation to fix for 12months..I decided to fix for peace of mind this winter 

Slinky

MultiFuelBurner said:

Slinky said:

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Neil49 said:

Slinky said:

Can't work out why they are saying the prices are 8% cheaper, I'm £350 in credit, my annual usage at the new rate works out at £144 per month and they want to put my DD up from £169 to £180. What's that all about?

Same for me. They are quoting a higher annual electric consumption than the one I provided when I switched to them in early August. I've kept monthly/annual consumption figures for years and their new estimate for electricity is about 25% higher than it should be.

I'll check the figures in more detail but will probably go with the fix in any case. 

Energy suppliers have to take into account weather predictions as well. Last year was such a mild winter and this is an El niño year after all.

Depending which supplier you are with you can normally reduce the DD set by the supplier or even just pay for what you use on a variable direct debit and still reap the benefits of the DD reductions.

Just monitor and reduce as you see fit. 

I've knocked it back down to £165. We've recently had solar panels installed so our electricity use has been pennies since this went in. I'm not sure if they are calculating using our usage from previous years before solar. Obviously we will use more in the coming months.  I'm thinking about fixing for gas and leaving the electricity as is as we may change to a different tariff.