Martin Lewis: A trick for Shell Energy (and Octopus) customers to make some money

Spoonie_Turtle

QrizB said:

A reminder of the forum rules:

This includes codes sent by PM.

And it's not as if we haven't JUST had a discussion about it in this thread
*rolls eyes at the other poster, posting in the evening when mods aren't around … *

kennynlm

Hi - does the referral scheme work for a Shell Energy broadband customer only? I couldn't find anything on the Octopus website for this - it looks like the broadband is managed under a different brand - Cuckoo?

Gerry1

kennynlm said:

Hi - does the referral scheme work for a Shell Energy broadband customer only? I couldn't find anything on the Octopus website for this - it looks like the broadband is managed under a different brand - Cuckoo?

Welcome to the forum.

You seem to have misunderstood.  You share a £100 referral bonus if an Octopus customer gives you a code and you move your domestic electricity and gas to Octopus.  Nothing to do with Shell broadband.

QrizB

kennynlm said:

Hi - does the referral scheme work for a Shell Energy broadband customer only?

Yes, inasmuch as you can switch your gas and electricity to Octopus and get a referral payment.

It won't work if you're hoping to switch your broadband.

RFCA

I got a quote from Octopus using the referral scheme. Their quote for my postcode was more than £50 higher than Shell Energy using the same annual expected energy use. The quoted tariffs were also higher than the maximum tariffs quoted in the current Ofgem Price Cap!

Octopus quoted 7.098p/kWh and 28.844p/day for gas; 28.098p/kWh and 51.093p/day for electricity.

With Shell Energy, I'm paying 6.764p/kWh and 29.620p/day for gas; 26.759p/kWh and 50.700p/day for electricity.

Ofgem Price Cap 1/10/23 - 31/12/23: If you are on a Direct Debit standard variable tariff (default tariff), including VAT, you will pay no more than 7 p/kWh and 30 p/day for gas; 27 p/kWh and 53 p/day for electricity.

Gerry1

@RFCA More info, please.  Are these Standard Variable Tariffs or fixed ones?  The Price Cap does not apply to fixed tariffs.

You also haven't used the Price Cap for your region, only the national average.

RFCA

Gerry1 said:

@RFCA More info, please.  Are these Standard Variable Tariffs or fixed ones?  The Price Cap does not apply to fixed tariffs.

You also haven't used the Price Cap for your region, only the national average.

Both are Standard Variable tariff for the current Price Cap period paid by DD.

I agree that I used the national average figure from the Ofgem website - I didn't have the regional figures to hand.

Gerry1

@RFCA If you took the Shell info from your bill, did you remember to add 5% VAT?

RFCA

Gerry1 said:

@RFCA If you took the Shell info from your bill, did you remember to add 5% VAT?

ALL the figures I quoted were INCLUDING 5% VAT

Spoonie_Turtle

RFCA said:

Octopus quoted 7.098p/kWh and 28.844p/day for gas; 28.098p/kWh and 51.093p/day for electricity.

With Shell Energy, I'm paying 6.764p/kWh and 29.620p/day for gas; 26.759p/kWh and 50.700p/day for electricity.

That doesn't look right.  Your Shell prices look like East Midlands, and your Octopus prices … oh, they don't match any of their regions, for Direct Debit or other payment method!  

Sources
Regional rates  https://www.moneysavingexpert.com/utilities/what-are-the-price-cap-unit-rates-/#unitrates
Octopus tariff  https://octopus.energy/blog/energy-price-cap-oct-2023/

If you go to https://octopus.energy/tariffs/, put your postcode in and scroll down (don't click 'get a quote'), what rates does it give for Flexible Octopus?

OH!  Actually those Octopus prices look like an extra 5% has been added on top.  How odd.