Octopus Intelligent Go- Fixing

Marksfish

Having moved onto one of the beta apps for EV's, I am presuming that having the benefit of off peak charging rates and slots stops the account holder from fixing the tariff. So yes, give with one hand by take with the other. That said, there are sooooooo many tariffs they offer, I may have missed the option.

born_again

Don't forget that the big bonus of Intelligent tariff is that you get off peak rates when charging during the day time for whole house. 
When they are applied.
Since sept last year, I have only had 2 night time charges out of 80, i always plugging car in during the day, when charging is required.

This is my average unit cost for last month. 376.9kWh @ 15.05p/kWh Normal daytime rate would be 22.28p/kWh on IO Variable rate from Octopus would be 21.22p/kWh

Marksfish

I appreciate that, but when the unit rates go up, so do the bills. This is a new account to me and I am trialling the tariff at the moment, but when the recommendations are to fix, not sure how I handle staying on variable.

pete-20-11

The need to fix or not is mostly about acceptance of risk.

Are you willing to risk it or do you need price certainty.

I can't fix my electric as I'm on a beta tariff too - but my monthly bills are negative at the moment due to the gain from solar.

I didn't fix my gas last winter, I spent it on Tracker. I was nervous, but the price never went above the SVR, so it was a massive win. Not so sure about next winter of course. 

Reed_Richards

born_again said:

This is my average unit cost for last month. 376.9kWh @ 15.05p/kWh Normal daytime rate would be 22.28p/kWh on IO Variable rate from Octopus would be 21.22p/kWh

In the month of June, I used 384.5 kWh @ 6.9 p and 34 kWH @ 27.79 so an average of 8.71p per kWh.  Reassuring that the Eon NextDrive tariff that I'm on beats Octopus.

Jello123

Reed_Richards said:

born_again said:

This is my average unit cost for last month. 376.9kWh @ 15.05p/kWh Normal daytime rate would be 22.28p/kWh on IO Variable rate from Octopus would be 21.22p/kWh

In the month of June, I used 384.5 kWh @ 6.9 p and 34 kWH @ 27.79 so an average of 8.71p per kWh.  Reassuring that the Eon NextDrive tariff that I'm on beats Octopus.

Assume that’s just for the EV and not household included? 

British Gas has an electric driver tariff that’s 20.69p at peak and 7.9p off peak (12-5). Standing charge at 58p. 

It is also fixed for a year. Isn’t this better value than the above? 

Reed_Richards

Jello123 said:

Reed_Richards said:

born_again said:

This is my average unit cost for last month. 376.9kWh @ 15.05p/kWh Normal daytime rate would be 22.28p/kWh on IO Variable rate from Octopus would be 21.22p/kWh

In the month of June, I used 384.5 kWh @ 6.9 p and 34 kWH @ 27.79 so an average of 8.71p per kWh.  Reassuring that the Eon NextDrive tariff that I'm on beats Octopus.

Assume that’s just for the EV and not household included? 

British Gas has an electric driver tariff that’s 20.69p at peak and 7.9p off peak (12-5). Standing charge at 58p. 

It is also fixed for a year. Isn’t this better value than the above? 

No, that's the entirety of my electricity consumption for June.  But because I have solar panels and a battery then in summer I can shift the vast majority of my import usage to the cheap 7 hours that the NextDrive tariff gives me.  The NextDrive tariff is also fixed for a year.  It's impossible to say which is better value, it will depend on your pattern of usage.    

Marksfish

Jello123 said:

British Gas has an electric driver tariff that’s 20.69p at peak and 7.9p off peak (12-5). Standing charge at 58p. 

It is also fixed for a year. Isn’t this better value than the above? 

Good luck with BG. I have just left after a nightmare 10 months and 2 successful ombudsman cases! I've been approached by several other people having similar issues, but much further in debt as they waited for their first quarterly bill!

Marksfish

pete-20-11 said:

I didn't fix my gas last winter, I spent it on Tracker. I was nervous, but the price never went above the SVR, so it was a massive win. Not so sure about next winter of course. 

Have considered the tracker (not really brave enough), but may just opt for moving to another has provider and fixing. 

QrizB

I can't find a more recent thread looking at the generalities of IOG, so I'm bumping this one

I've just received my email from Octopus with the new IOG rates for April. I'm happy with them.

• Peak (daytime) rate: increased from 26.4p/kWh to 28.79p/kWh
• Offpeak rate: unchanged at 7p/kWh
• Standing charge: reduced from 62.225p/day to 43.941p/day

Those rates include VAT and are for Southern region (ex-SEB), others will vary.

For me, Octopus forecast my equivalent annual bill will fall from £536.60 to £484.71, a decrease of £51.89 or ~9.7%.

SuzeQStan

What did you make of the ‘fixed’ IOG tho @QrizB ?