Getting out of my Octopus fixed rate early

benny_boy

Very helpful replies thank you.
I will be quoting some of the responses from Octopus staff that bristolleedsfan has posted if i dont get anywhere with my latest email. 

inspectorperez

Just to comment on my own experience this morning which seems to be slightly different to those reported earlier in this thread.

My fixed tariff for dual fuel runs out on 31 July. Received email this morning advising on options for new tariff from 1 August.

Speaking to Octopus call centre this morning, I was advised that if I renewed now, there would be no exit fees charged. I was also advised that the new contract would commence tomorrow and run up till the anniversary date which would be 17 June 2025.

TBH, I'm not convinced that this information is correct but who am I to argue otherwise.

As we're officially in summer and my usage is very low at the moment, I will probably just leave this until mid July, but thought I would just publish these comments for information which seems to be slightly contradictory to earlier posts.

DougMLancs

Have you looked into how much you’d actually save by having the lower unit rate considering your summer usage is likely pretty low?

Swipe

Also keep in mind that standing charges are probably much higher now than on a previous old fix which can offset any savings if your summer usage is very low.

bristolleedsfan

Also keep in mind that being able to re-fix sooner rather than later with no exit fees is win win, locking in current fixed rates for 12 months whilst free to change again should cheaper fixed rates become available, risk of waiting till later to fix is fixed rates might be more expensive at a later date.

benny_boy

DougMLancs said:

Have you looked into how much you’d actually save by having the lower unit rate considering your summer usage is likely pretty low?

I know it wont be a huge amount especially just for another seven weeks but it is ingrained in me to not pay more than i should. Already annoyed with myself for signing up to this in first place so want out asap

benny_boy

bristolleedsfan said:

Also keep in mind that being able to re-fix sooner rather than later with no exit fees is win win, locking in current fixed rates for 12 months whilst free to change again should cheaper fixed rates become available, risk of waiting till later to fix is fixed rates might be more expensive at a later date.

Exactly you cant lose when there are no exit fees and if rumours are right of rates going up in october the best time is probably now. 

bristolleedsfan

Was thinking to myself 12 month fixes were cheaper early May than now, just looked Octopus have launched 

June 2024 v3 both fuels more expensive than previous version - electricity kWh rate in my region 25.03 p/kWh

benny_boy

Well we have a result! 
Several emails have been exchanged denying i can switch to a new tariff, including one yesterday offering to waive one of the two £75 fees as a goodwill gesture 
I declined that offer and in the same reply i pasted the twitter comments from bristolleedsfan and asked why different staff have conflicting answers. Here is their reply.

Thank you for your email!

I have spoken to the agent who looks after X and have been corrected in my own knowledge. We can in fact switch you to a new tariff within the 42-49 day period. I apologise that I misunderstood the information I had available, and will make sure to keep a note of this for future customer queries.

We can switch you to a new tariff from after that 42 day window, which is from 29th June. I'll set this up to happen for you so you don't need to contact us again. The exit fees will be applied automatically but I will check back on the account after the tariff change happens and remove these. I believe I have resolved this for you so will close this complaint, but if you have any other questions at all please let me know

Got there in the end but i honestly believe the staff who work for octopus need better training and knowledge of there own rules and even better, to save a lot of time and effort, they need to put this information on their website so it is clear to see

Thank you all for the help and assistance, it is appreciated

LilyBouquet

I started reading this thread as I just had an email from Octopus this morning inviting me to fix. I’ve been reading this thread and the email side by side and, for what it’s worth, the email says :

“  If you’d like to fix your prices for the year ahead, our fixed tariff has no exit fees. This means if prices continue to fall, you can simply choose another tariff in your online account. Compare prices and make the switch in your online account.”