Octopus Fixed Tariffs

Richchad

This is why I had to be certain there isn't an exit fee and will just monitor any price cap reductions and switch if it becomes worth doing.

I agree it is strange to offer fixed without any penalty when all other fixes have exit fees, although they have not had exit fees in the past.

spot1034

Early exit fees have got too high. There was a time not so long ago  when £25 or £30 per fuel was the norm - now it's three times that or even more which might put some people off going for the tariff at all. Perhaps it's true that many users will go for a fix with either minimal exit fees or none at all, and then despite the deal becoming less attractive, perhaps if there isn't too much of a loss they'll just stick with it anyway giving the supplier that few extra percentage of profit. This can't happen if the customer is put off ever signing up for it in the first place.

BellaBlondykeTheThird

Consequence of an unstable energy market or just greedy suppliers? Maybe a combination of both.

MoneyMon555

I'm in exact same position of a fixed Octopus just ended in Jan and they said there was £75 exit on both , now contacted them and they say I can get out without fees and go to variable price cap.

However , when I enquired about staying on the Octopus flexible, and then leave when the price caps gets lower, but doing that without exit fees and they are not being clear if that is the case.

It does seem as others have hinted, that maybe they are updating their exit fee policies and not all staff have the new info?

I have found a few times in the past that the same question/contract  might be answered in different days when emailing them

EDIT - for info , Octopus do say this on their site 

• Every customer on Flexible Octopus gets a 4% discount on their standing charges compared to the Guarantee.

So, I guess that makes it a little more complex to work out the cheapest price right now and going forward to April and beyond?

Richchad

Yes my last email from Octopus stated..

Apologies for the confusion. Our company has recently made an update, and there would be no exit fees for the fixed tariff either.

This was after telling me 3 times an exit fee would apply, so does seem that all staff are not being kept updated on latest tariffs.

Looks like I will have to keep a close eye on the new April price cap as MSE are predicting 15% drop so will be close to the fixed tariff I have so may have to switch back to Flexible tariff.

bristolleedsfan

MoneyMon555 said:

EDIT - for info , Octopus do say this on their site 

• Every customer on Flexible Octopus gets a 4% discount on their standing charges compared to the Guarantee.

So, I guess that makes it a little more complex to work out the cheapest price right now and going forward to April and beyond?

Octopus standing charge same across all of its current tariffs.

No Octopus customer should currently be on flexible being as current 12 month fixed version is cheaper with no exit fees. 

abxbsk

I'm also looking at this tariff but was wondering if you had to agree to have a smart meter fitted or if it was available to standard meter customers?

bristolleedsfan

abxbsk said:

I'm also looking at this tariff but was wondering if you had to agree to have a smart meter fitted or if it was available to standard meter customers?

Do not have to agree to have S/M fitted.

Richchad

I had this reply when I asked Octopus about smart meters...
Regarding the Smart meter installation, it is not mandatory for the Loyal Octopus Fixed Tariff.
I have kept a copy of email if someone comes knocking at my door with a smart meter...

Gerry1

MoneyMon555 said:

EDIT - for info , Octopus do say this on their site 

• Every customer on Flexible Octopus gets a 4% discount on their standing charges compared to the Guarantee.

So, I guess that makes it a little more complex to work out the cheapest price right now and going forward to April and beyond?

Not really, your Octopus account (app or web) will show you your standing charges and kWh costs, so you can do the comparison sums in the normal way.