Octopus/Co-Op should I wait unti after April 1st

SirFreddy

Hello all, My gas/electric are with Co-Op through Octopus paying £240pm.

After my February statement (which I submit every 1st) I am in credit by around £300 although the past month my DD was around £30 short.

OE have suggested a Co-op 12 month deal at £187 which seems good to me, is it, or should I wait until after April 1st?

Many thanks in anticipation.

badger09

SirFreddy said:

Hello all, My gas/electric are with Co-Op through Octopus paying £240pm.

After my February statement (which I submit every 1st) I am in credit by around £300 although the past month my DD was around £30 short.

OE have suggested a Co-op 12 month deal at £187 which seems good to me, is it, or should I wait until after April 1st?

Many thanks in anticipation.

No one will be able to offer advice or opinion unless you say what your usage and unit charges are. You can find this info on your latest bill, assuming it was based on a meter reading rather than an estimate 

The figures you quote for your current & proposed deals are your monthly DD which is simply a way of spreading your bills evenly over a year. 

SirFreddy

OK Badger, many thanks.

 I was really just looking whether a new contract taken out with whoever after April 1st will generally be lower than present charges, or is it not as simple as that?

MultiFuelBurner

What are the kWh prices and standing charges. An amount each month really means nothing 

SirFreddy

OK, It's not as simple as I thought, I'll park the idea for now. Many Thxs.

bristolleedsfan

SirFreddy said:

OK, It's not as simple as I thought, I'll park the idea for now. Many Thxs.

Same day as OFGEM announced maximum kWh and SC rates that can be charged for SVR tariffs from April 1st Octopus launched new 12 month fixed versions reflecting higher SC as well as lower unit rates virtually identical to Flexible rates will be from April 1st.

Coop Energy E unit rate slightly higher, standing charges same comparing new customer rates, cheaper to be a fixed rate customer with Octopus unless you have been offered a loyalty rate matching Octopus Loyal 12 month fix.

MWT

SirFreddy said:

OE have suggested a Co-op 12 month deal at £187 which seems good to me, is it..

Always remember, it is only £187 if you use exactly what they have estimated, if you use more than that then the payment will need to go up...

It is only the rates that are fixed, not the total monthly cost.