My octopus tariff Vs outfox the market

Giraffe76

Hi all,

I'm currently with octopus on the price cap tariff and have seen there is a deal with outfox the market thats 13pc below price cap for electric and 9pc below price cap for gas.
Does anyone know or can anyone remember what the predictions from Cornwall insight were when Martin Lewis talked about this last time as I wanted something to compare the price with please
Kind regards Mark 

akh43

Just gone on the MSE price comparison tool to update my details and this came up

As you are on a Price Cap tariff there are 5 need-to-knows… Comparing's complex now, so we want to ensure you're tooled up to make a decision…
1. Your current tariff's price changes every three months. As you're on a standard tariff, its rate is dictated by the energy Price Cap, set every three months by the regulator, based on wholesale energy rates.
2. ‘Savings’ are compared to your current cost under your provider's rates from April. The most important thing to look at in the comparison is the percentage saving, it factors in both standing charge & unit rate.
3. The Price Cap is predicted to drop substantially over the next year. April's rates are already set. After that, we use analysts Cornwall Insight’s predictions to estimate your future costs based on usage. Yet the situation changes every couple of weeks & the further out the more crystal ball gazing.
Estimate of what you’ll pay if you stay on the Price Cap (based on your use)Annual price% changeCurrent: ACTUAL price£1,4071 July: Estimated rough PREDICTION£1,350-4%1 October: Crystal ball PREDICTION£1,410+4%1 January: Crystal ball PREDICTION£1,420+1%
1. If the prediction's right, do nothing & over the next 12 months you'll pay 1% LESS than the current Price Cap. We've done this using known and predicted rates (we've no prediction beyond March 2025, so we'll assume it'll stay at next Jan's rate beyond that). This is to give you an idea of how much you'll pay if you 'do nothing'.
2. This is ONLY a prediction, for certainty, see how it compares to fixes below. From July, there’s no certainty and things could change significantly. So if you want certainty aim for a fix at close to or, cheaper than, your ‘do nothing’ prediction.

Giraffe76

akh43 said:

Just gone on the MSE price comparison tool to update my details and this came up

As you are on a Price Cap tariff there are 5 need-to-knows… Comparing's complex now, so we want to ensure you're tooled up to make a decision…
1. Your current tariff's price changes every three months. As you're on a standard tariff, its rate is dictated by the energy Price Cap, set every three months by the regulator, based on wholesale energy rates.
2. ‘Savings’ are compared to your current cost under your provider's rates from April. The most important thing to look at in the comparison is the percentage saving, it factors in both standing charge & unit rate.
3. The Price Cap is predicted to drop substantially over the next year. April's rates are already set. After that, we use analysts Cornwall Insight’s predictions to estimate your future costs based on usage. Yet the situation changes every couple of weeks & the further out the more crystal ball gazing.
Estimate of what you’ll pay if you stay on the Price Cap (based on your use)Annual price% changeCurrent: ACTUAL price£1,4071 July: Estimated rough PREDICTION£1,350-4%1 October: Crystal ball PREDICTION£1,410+4%1 January: Crystal ball PREDICTION£1,420+1%
1. If the prediction's right, do nothing & over the next 12 months you'll pay 1% LESS than the current Price Cap. We've done this using known and predicted rates (we've no prediction beyond March 2025, so we'll assume it'll stay at next Jan's rate beyond that). This is to give you an idea of how much you'll pay if you 'do nothing'.
2. This is ONLY a prediction, for certainty, see how it compares to fixes below. From July, there’s no certainty and things could change significantly. So if you want certainty aim for a fix at close to or, cheaper than, your ‘do nothing’ prediction.

Thank you for all of that information which I will have to look through.

Kind regards Mark 

BarelySentientAI

I think this one is the CI latest.  Of course, these are averages and won't directly apply to your region, but given the inaccuracy of future predictions that doesn't matter a lot.

bristolleedsfan

Giraffe76 said:

Hi all,

I'm currently with octopus on the price cap tariff and have seen there is a deal with outfox the market thats 13pc below price cap for electric and 9pc below price cap for gas.
Does anyone know or can anyone remember what the predictions from Cornwall insight were when Martin Lewis talked about this last time as I wanted something to compare the price with please
Kind regards Mark 

No exit fees which I view as win now as well as win at a later date.

spot1034

The latest CI forecast began to look on the low side after wholesale prices spiked recently, but they have fallen back a bit. I'd say knock a percent or two off their prediction for the price fall in July, and beyond that is still anyone's guess.