Getting out of my Octopus fixed rate early

benny_boy

Hi I am on a Octopus fixed rate with exit fees that ends on August 10th. As bills have come down below my fixed rate prices in April to June and are predicted to fall further in July to September i want to get out early.
I know when i am 49 days  before my fixed rate ends ( 22nd june) i can leave to another provider without paying exit fees which I will do if i have to, but i am just wondering if i can just end my fixed rate with Octopus on this date and move on to their standard tarrif instead without paying exit fees? Would rather do this if possible to save hassle of switching. Any help would appreciated. 

BarelySentientAI

Yes, it should be possible to switch to another Octopus tariff of any sort within that period without paying exit fees.

benny_boy

Excellent thank you

BarelySentientAI

It might even be possible now, as long as you stay with Octopus.  That would depend on the terms and conditions of your tariff.

bristolleedsfan

BarelySentientAI said:

It might even be possible now, as long as you stay with Octopus.  That would depend on the terms and conditions of your tariff.

All Octopus fixed rate tariffs with exit fees included change of tariff outside of period mentioned in O/P.

brewerdave

I signed up about a month ago for a 12 month fix with Octopus with no exit fees. Just doing a comparison, I noticed that the May24 Octopus fix would save me a further ~ £50 pa .
Tried to phone Octopus to see whether there was any reason why I couldn't move on to the new fix but can't get thru.
Has anyone done this or something similar ? If I can then it seems a no brainer as ML would say.

RelievedSheff

brewerdave said:

I signed up about a month ago for a 12 month fix with Octopus with no exit fees. Just doing a comparison, I noticed that the May24 Octopus fix would save me a further ~ £50 pa .
Tried to phone Octopus to see whether there was any reason why I couldn't move on to the new fix but can't get thru.
Has anyone done this or something similar ? If I can then it seems a no brainer as ML would say.

Not with Octopus, but we are with Outfox the Market and have switched tariff three times in a month as they keep bringing out slightly cheaper tariffs. 

The tariffs have no early exit fees so no fee to switch and we have saved about £40 over the previous tariff a couple of times now. It soon starts to add up.

Janie2008

I would advise you to do this by phone rather than online.  When I changed my tariff 49 days before my fix ended with EDF it looked like it was being actioned straight away but the email confirmation showed the change only taking place at the end of the tariff date.  I then had to phone to get it sorted. 

benny_boy

Hi thanks for the replies. I have made first contact with Octopus via email this weekend and they have replied saying the 49 day rule only applies if you switch away . They are saying if I switch tariff and stay i will still have to pay this . 
i have asked for their terms and conditions to be forwarded to me and asked them to waive the fee to save both me the hassle of switching  and them the admin work involved in switching and then closing my account
i await a reply

t0rt0ise

benny_boy said:

Hi thanks for the replies. I have made first contact with Octopus via email this weekend and they have replied saying the 49 day rule only applies if you switch away . They are saying if I switch tariff and stay i will still have to pay this . 
i have asked for their terms and conditions to be forwarded to me and asked them to waive the fee to save both me the hassle of switching  and them the admin work involved in switching and then closing my account
i await a reply

It's true. The 49 days is called the Switching Window and is about switching supplier not tariff. It's in condition 24 of the licence. 

https://www.ofgem.gov.uk/sites/default/files/2023-03/Electricity%20Supply%20Standard%20Consolidated%20Licence%20Conditions%20-%20Current.pdf

bristolleedsfan

t0rt0ise said:

benny_boy said:

Hi thanks for the replies. I have made first contact with Octopus via email this weekend and they have replied saying the 49 day rule only applies if you switch away . They are saying if I switch tariff and stay i will still have to pay this . 
i have asked for their terms and conditions to be forwarded to me and asked them to waive the fee to save both me the hassle of switching  and them the admin work involved in switching and then closing my account
i await a reply

It's true. The 49 days is called the Switching Window and is about switching supplier not tariff. It's in condition 24 of the licence. 

https://www.ofgem.gov.uk/sites/default/files/2023-03/Electricity%20Supply%20Standard%20Consolidated%20Licence%20Conditions%20-%20Current.pdf

Octopus have given opposite answer at least twice on X

Apr 19

@OctopusEnergy

Hi, I’m on loyal octopus fixed July 2023 v1, due to end in August, when can I change to another tariff and no incur the £75 per fuel charge. TIA.

Octopus Energy

@OctopusEnergy

Hey , you can switch within the last 42 days of your tariff end date without incurring exit fees. I'm a DM away if you have any Qs at all. 

Send us a private message

11:53 AM · Apr 19, 2024

Octopus Energy

@OctopusEnergy

·

May 30

Replying to

@

exit fees are for any change away from that tariff (so a new tariff or supplier) there's a cooling off period of 14 days where we won’t apply the exit fee if anyone changes their mind about their tariff and it won't apply within 42 days of the end of your tariff date.