Octopus loyalty fix September 23, no regrets

MikeJXE

I fixed with Octopus in September 23 after doing the maths.

It had an early exit fee of £75 per fuel.

Having checked my usage for this year (4 months)

I am down £1.90 

I won't be using any gas this summer so I will be up due to higher SC rates 

I have not calculated October to January when rates were higher so I guess I win 

Anyone else done the calculations ? 

Netexporter

I just pay far less than that by virtue of having a smart meter.

northernstar007

would have saved loads if you went on tracker, and did u get you £50 referral

TheElectricCow

I took out the same fix before exiting around the end of February for Agile, I don’t regret the decision though as I fixed for price security rather than savings. I knew it wasn’t likely to be the cheapest option at the time, and looking back that has been absolutely correct, but I will admit to initially misjudging the value to be had from the likes of Agile and Tracker.

My energy use on the fix for March+April would have cost £114.26 (although this figure is largely inflated by all the extra free energy I’ve made good use of in this time). 

That same usage on Agile cost no more than
£39.45.  + The £75 Exit fee and it works out about the same either way so far, but over the remaining term of the fix I’ll be up by a significant amount since exiting, as I’ve already “saved” that £75 in two months.

Plus I’ve had a great deal of extra value in the additional free usage, and my Standing Charge is fixed for 10 more months at the same rate as loyal Octopus was with no further exit fees.

Xbigman

I am on Tracker for electric but fixed my gas in August 2023 paying just under 7p a kwh. I reasoned that in a normal winter Tracker gas was likely to be around the 5p mark so with my usage I would be paying an extra £60 for security. As it turned out it was a mild winter and the Tracker gas price was more like 4p BUT I used the least amount of gas I have used in the 22 years I have lived in this house. The actual price difference once adjusted for reduced usage was more like £50, and I'm still on the lower SC. I'm happy with that result.
This year I'll be looking to fix again, hopefully around 5p a kwh. I suspect the price difference with Tracker will be tighter this year but I'd be happy to pay an extra £60 for security again.



Darren