Octopus Fixed Tariffs

bristolleedsfan

tlcgrantham said:

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.

Octopus have launched new fixed versions with higher standing charges and lower unit rates.(North West region virtually unchanged from April 1st)

tlcgrantham

bristolleedsfan said:

tlcgrantham said:

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.

Octopus have launched new fixed versions with higher standing charges and lower unit rates.(North West region virtually unchanged from April 1st)

bristolleedsfan said:

tlcgrantham said:

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.

Octopus have launched new fixed versions with higher standing charges and lower unit rates.(North West region virtually unchanged from April 1st)

That was quick I hadn’t seen that sorry for oversight

jak22

Previously there was an approx 2p per standing charge discount against cap for their variable, recent 1YR and Loyal 1YRs. The recent fixes also had lower unit rates with the Loyal slightly cheaper again.

With these new fixes the standing charge discount against cap looks smaller for the 1YR but still around 2p each with the Loyal.

The fixed unit rates now look the same as each other and the April cap so the new fixes seem to be just a 4p a day total discount against April cap.

So there's not much monthly difference between the recent fixes, the new fixes, or the April cap - the advantage of their fixes is that they're around 12% cheaper from right now.

Of course all this is region dependant.

bristolleedsfan

jak22 said:

So there's not much monthly difference between the recent fixes, the new fixes, or the April cap - the advantage of their fixes is that they're around 12% cheaper from right now.

Of course all this is region dependant.

And usage dependant

69bertie

bristolleedsfan said:

Octopus have launched new fixed versions with higher standing charges and lower unit rates.(North West region virtually unchanged from April 1st)

Very true which makes changing tariffs a bit more problematical.

New offer ⚡ Electricity

Daily standing charge
65.33p /day
Unit rate (day)
28.76p /kWh
Unit rate (night)
13.28p /kWh
Early exit fee	£0

Existing - Flexible Octopus

Unit rates

Electricity (day): 34.81p per kWh

Electricity (night): 16.07p per kWh

Standing charges

Electricity: 54.04p per day

That's an 11p a day increase on the standing charge. £3 a month increase. But as it says, no exit charges. What Octopus giveth with one hand, they take back with the other. Still, might be worth it, even though my day usage is very minimal. The problem is we are heading into spring / summer, when most days, the solar not only charges up the batteries entirely but generates more than enough to export as well. Meaning, I could be paying £3 a month more for some imaginary saving on the day/night usage rates. Decisions, decisions.

[Deleted User]

I'm probably getting mixed up but I think I remembered being on a fixed tariff with Octopus previously and, because the capped rate became lower than my fixed rate, Octopus charged me the lower  capped rate.  Does that sound right enough?  If it is, I would need to check, but I may pay the new rate after all.

I know I would be subject to pay a penalty if I leave my present fixed rate tariff because It is not one of the ones where there is not an early exit penalty.  I think my penalty would be £75 per fuel - so £150.

jak22

The calculation is simple - will you save over £150 by taking a fix right now, adjusted for the possibility of further cap or fix reductions during the year, compared with staying until 49 days before the end date of the current fix, and taking into account possibly lower gas consumption over summer months.

Bigwheels1111

I opted for,
Loyal Octopus 12M Fixed.
I like to be able to jump tariffs if need be.

I was looking on MSE this morning quoting the new standing charges from April.
If I’ve worked it out correctly I will save just under £100 a year.

jak22

It will depend on the region and usage but fixes could be saving around 12% against current variable through March, but after the new cap in April they'll be little different to the variable - so not much saved until newer better fixes.

bristolleedsfan

Bigwheels1111 said:

I opted for,
Loyal Octopus 12M Fixed.
I like to be able to jump tariffs if need be.

I was looking on MSE this morning quoting the new standing charges from April.
If I’ve worked it out correctly I will save just under £100 a year.

Whilst it is likely you are saving compared with current flexible tariff  you will not be saving £100 on standing charges unless you changed tariff before .Octopus increased standing charges  during  Friday on Loyal Octopus 12M Fixed in line with April price cap minus 4%.  (North West region electricity standing charges are not increasing)