Outfox the Market variable tariff

martyp
martyp Posts: 1,044
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Hi all,

My 2 year Scottish Power fix is ending 31st January and would go on to their variable at £101 a month (currently on £97).
I'm considering Outfox the Market on £95 a month, I was with them before but remember I disliked the monthly DD varying for Summer and Winter rather than being consistent all year round. Their help suggests it might be one amount all year or different in the Summer and WInter, does anyone know which is likely?
They seemed to survive the period that knocked out so many small energy suppliers somehow although still a bit wary being a small supplier. I was with Peoples Energy and Green and both went bust.
I'm thinking I'd ride the variable wave whilst the predictions are for the cap to drop this year although can get fixes with SO and Ovo for £90 or £96 a month.
I did have a look at Outfox's company financial reports and you can see how they took a massive hit in 2021 but seemed to pick up in 2022 with a new Director in early 2021. I'm hoping if they've survived the worst they'll be reasonably safe to switch to?
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  • QrizB
    QrizB Posts: 13,658
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    martyp said:
    My 2 year Scottish Power fix is ending 31st January and would go on to their variable at £101 a month (currently on £97).
    I'm considering Outfox the Market on £95 a month
    It's likely that OFTM and SP both have the same standard variable tariff.
    Have you compared daily standing charges and unit rates, or are you just basing your switch on the monthly DD quote?
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • QrizB
    QrizB Posts: 13,658
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    Actually, I take it back; OFTM's standard variable tariff might be fractionally cheaper than the Ofgem cap.
    See the tables here.
    It's too late for me to do a proper comparison but if anyone else wants to crunch the numbers, please be my guest!
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • RelievedSheff
    RelievedSheff Posts: 11,122
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    We have been with Outfox the Market for a few years now and have always had a fixed monthly direct debit amount.

    Do your own sums as to what the monthly amount should be set at based on kWh used not in monetary terms.

    Outfox the Market tend to have an offer each price cap period that saves customers a few pounds over the period. This time it was the gas standing charge that was halved.
  • la531983
    la531983 Posts: 1,672
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    Really need to be comparing unit rates/standing charges, and not monthly  contributions to a pot. Energy is not "all you can eat for a fixed price". 
  • martyp
    martyp Posts: 1,044
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    QrizB said:
    martyp said:
    My 2 year Scottish Power fix is ending 31st January and would go on to their variable at £101 a month (currently on £97).
    I'm considering Outfox the Market on £95 a month
    It's likely that OFTM and SP both have the same standard variable tariff.
    Have you compared daily standing charges and unit rates, or are you just basing your switch on the monthly DD quote?
    Thanks, I used a spreadsheet to work out the costs with the actual SCs and unit rates as don't always trust the quotes. My cheapest quote for Ovo I think it was on comparison sites was £90 a month but when I got a quote on their site they proposed a DD of about £105 a month which didn't make sense. I need to be sure OTM are definitely quoting on the new January rates which I think they are. The £101 quoted by SP has been the same since before 5th Jan so suspecting their Variable rates haven't gone up yet.
  • martyp
    martyp Posts: 1,044
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    It does seem like a good option, not a massive saving but I like the idea of going to a cheaper variable tariff than any of the fixes with massive exit fees as there's only £5 or £10 a month in it at most. Especially considering the anticipated falls in 2024. I would say I'm quote a low electric and gas user anyway (2707 electric and 2076 gas) there tends to be little variance after the massive hike from paying £45 a month a couple of years ago to £98 a month now like everyone else.
  • bristolleedsfan
    bristolleedsfan Posts: 12,008
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    martyp said:
    It does seem like a good option, not a massive saving but I like the idea of going to a cheaper variable tariff than any of the fixes with massive exit fees as there's only £5 or £10 a month in it at most. Especially considering the anticipated falls in 2024. I would say I'm quote a low electric and gas user anyway (2707 electric and 2076 gas) there tends to be little variance after the massive hike from paying £45 a month a couple of years ago to £98 a month now like everyone else.
    https://www.fuseenergy.com/ SC and unit rate likely cheaper than Outfox ( electricity only)

    Outfox half price gas SC only applies when dual fuel is taken with them. Fuse Energy froze rates until 31 March 2024
  • martyp
    martyp Posts: 1,044
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    martyp said:
    It does seem like a good option, not a massive saving but I like the idea of going to a cheaper variable tariff than any of the fixes with massive exit fees as there's only £5 or £10 a month in it at most. Especially considering the anticipated falls in 2024. I would say I'm quote a low electric and gas user anyway (2707 electric and 2076 gas) there tends to be little variance after the massive hike from paying £45 a month a couple of years ago to £98 a month now like everyone else.
    https://www.fuseenergy.com/ SC and unit rate likely cheaper than Outfox ( electricity only)

    Outfox half price gas SC only applies when dual fuel is taken with them. Fuse Energy froze rates until 31 March 2024
    Thanks, yes they were definitely cheap for the electric (£875.56 compared to £940.35), like you say Outfox doubles the SC for gas only. I did try and find a cheap gas only supplier, the best I could get would get my DD from £95 to about £93. I remember there used to be a really good cheap gas only supplier in Suffolk who I was with for a while but pretty sure they no longer exist.
  • housebuyer143
    housebuyer143 Posts: 3,168
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    You just brought back horrible memories of when I attempted to move to these guys! Lucky escape.
  • martyp
    martyp Posts: 1,044
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    I must admit they were ok when I was with them before. Much less of a nightmare for me to leave than Octopus anyway
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