Octopus Fixed Tariffs

Gerry1

I'm on Loyal Octopus 12M Fixed September 2023 v1 which ends in October 2024.  This had a £75 exit fee and IIRC this was always shown on the app and the account webpage.

However, the exit fee is not shown any more, it's quietly disappeared. 

Presumably Octopus's decision to offer new fixed tariffs with no exit fee has been retroactively applied to existing fixed agreements?

Has anyone recently exited a similar tariff without having to pay the £75?

Could be worthwhile switching soon if this week's price cap announcement is favourable. 😀

jak22

Any mention of early exit fee doesnt seem to appear on the dashboard or app or even the confirmation email, just on the change tariff page. Early exit fees are set to £0 for current deals rather than being removed so it's best to be cautious and to check with them first.

Remembering its an early exit fee might help clarify a post further up. It doesnt apply to variable / flexible and applies if you switch before 49 days before the end date of the contract. The link to the change tariff pages seems to disappear once youve agreed a contract with an end date - but should be visible on flexible and can still be seen if the page is bookmarked.

MoneyMon555

bristolleedsfan said:

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. 

Can I just ask for clarification on the 12 month fixed version, with no exit fees...? 
What exactly am I asking Octopus for if I get in touch and ask for that? 

Thanks in advance 

jak22

You have a choice of the Octopus 12M Fixed or slightly cheaper Loyal Octopus 12M Fixed

If you are on variable there should be a dashboard link to the change tariff page showing the unit costs and confirming no early exit fee

Without a link it should still be possible to bring up the page at octopus.energy/dashboard/accounts/accountnumber/tariff-renewal/#/ (substitute your account number when logged in) but of course previous fixes might have early exit fees until 49 days before their end

The Loyal version should become available once youre an existing customer but it likely wont appear as an option when switching from another supplier.

bristolleedsfan

Gerry1 said:

I'm on Loyal Octopus 12M Fixed September 2023 v1 which ends in October 2024.  This had a £75 exit fee and IIRC this was always shown on the app and the account webpage.

However, the exit fee is not shown any more, it's quietly disappeared. 

Presumably Octopus's decision to offer new fixed tariffs with no exit fee has been retroactively applied to existing fixed agreements?

Posted today on X ( every indication from twitter exchanges I have seen is  no exit fee has not been retroactively applied to existing fixed agreements

7h

@OctopusEnergy

beginning to think it was a serious mistake switching to Octopus, not only did it take 16 weeks to work out that my gas meter was faulty, but have now switched from one of your fixed tariffs to Agile and found that you have charged me 75 quid for the privilege.

@OctopusEnergy

Hi  ....., some of our fixed tariffs do have early exit fees as we buy the energy you'll use in advance at a set cost. It should’ve been really clear when you signed up. When you decided to switch tariffs, you would've received an email explaining the details of your new tariff, including the £75/fuel exit fees. Please pop me a message if you'd like to chat anything through. 

Slinky

I paid £75 to exit the loyal gas fixed tariff to Tracker in mid December. Saved that amount in 6 weeks and quids in now. It may be a bitter pill to swallow if the £75 exit fee is correct, but hopefully you'll make savings on Agile that will make it worthwhile.

double_dutchy

bristolleedsfan said:

Octopus standing charge same across all of its current tariffs.

Are you including fixed tariffs? According to my quote for Loyal Octopus 12M fixed (Eastern area) the standing charges for both gas and electric are higher than Flexible or the ordinary Octopus 12M fixed (although the unit rates are lower)

bristolleedsfan

double_dutchy said:

bristolleedsfan said:

Octopus standing charge same across all of its current tariffs.

Are you including fixed tariffs? According to my quote for Loyal Octopus 12M fixed (Eastern area) the standing charges for both gas and electric are higher than Flexible or the ordinary Octopus 12M fixed (although the unit rates are lower)

Looking at North West Region -  up until  Octopus 12M Fixed February 2024 v2 standing charges for both fuels were same as Loyal 12 month fixed and Flexible.

Octopus 12M Fixed February 2024 v3 for new customers ( standing charges for both fuels is more expensive than Loyal 12 month fix and flexible.

Loyal Octopus 12M Fixed February 2024 v3 E SC is 49.02 compared with Flexible 49.77, Gas SC is more expensive than Flexible

Up until Loyal Octopus 12M Fixed February 2024 v1 standing charges  for both fuels were the same as flexible.

Thanks for pointing out pricing changes that have occurred

tlcgrantham

MoneyMon555 said:

bristolleedsfan said:

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. 

Can I just ask for clarification on the 12 month fixed version, with no exit fees...? 
What exactly am I asking Octopus for if I get in touch and ask for that? 

Thanks in advance 

Worth mentioning that if you sign up for the Loyalty 12 month fixed tariff with no exit fees you will avoid the big increase in standing charges that will come into force from April 1st. You can also change tariff if a better deal appears.

bristolleedsfan

Some regions will see huge differences in E standing charges between flexible and fixed, Octopus have launched fixed versions which are nearly in line with April 1st price cap ( North West region down very slightly)

The above answers why British Gas Price Promise SC was much higher in some regions than Variable