Octopus 15 month fix tariff

2010

Had an email from Octopus today about their new 15m fixed rate tariff which they claim works out cheaper than the new Oct.1st flexible cap.

Any thoughts?

Netexporter

If it suits you, do it, if it doesn't, don't.

HillStreetBlues

I just did a quick calculation and it's works out about 7.5% increase on the current price. You have to take into account the that rise would start as soon as the switch not October.
Taking it now works out about the same as taking under 10% rise in Oct. But doesn't take into account increase usage over winter and possible increase in Jan and beyond..

2010

Probably go for it.
No exit fees swung it so anything else comes along can easily switch.
Another increase predicted in Jan 2025 by Cornwall.
Between now and the 1st Oct (21 days) with low useage won`t make much difference on the increase.
Plus away for eight/nine days as well.

HillStreetBlues

2010 said:

Probably go for it.
No exit fees swung it so anything else comes along can easily switch.
Another increase predicted in Jan 2025 by Cornwall.
Between now and the 1st Oct (21 days) with low useage won`t make much difference on the increase.
Plus away for eight/nine days as well.

I agree, just switched an account that I manage. Works out just £2 more for rest of Sep so be amazed that it doesn't work out cheaper, the no exit fees was the icing.

dfarry

Yes I've decided to switch as well... It's a bit of a gamble but it feels like prices are only going one way.... Up!

2010

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

bristolleedsfan

2010 said:

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

It is only a no brainer if someone wants to stay with Octopus and be on a fixed rate tariff. ( Many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

15 month fix rates exactly the same as 12 month fix Octopus were previously offering, both fuels unit rates significantly more expensive than OFTM 12 month fix

2010

bristolleedsfan said:

2010 said:

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

It is only a no brainer if someone wants to stay with Octopus and be on a fixed rate tariff. ( Many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

15 month fix rates exactly the same as 12 month fix Octopus were previously offering, both fuels unit rates significantly more expensive than OFTM 12 month fix

No use quoting a tariff that doesn`t exist anymore.
OFTM, Fox Standard Dual or 2 year Fix'd Dual Aug24 v5.0 (plus £100 exit fees per fuel), is all that`s available just now.

Your also wrong about the Octopus 12 month fix being exactly the same as the 15m.
The 12m had £75 exit fees per fuel, the 15m has none.

I think people a fed up with "here today gone tomorrow" suppliers.
That`s the main reason why S/C are so high, to pay for the ones that failed.

bristolleedsfan

2010 said:

bristolleedsfan said:

2010 said:

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

It is only a no brainer if someone wants to stay with Octopus and be on a fixed rate tariff. ( Many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

15 month fix rates exactly the same as 12 month fix Octopus were previously offering, both fuels unit rates significantly more expensive than OFTM 12 month fix

No use quoting a tariff that doesn`t exist anymore.
OFTM, Fox Standard Dual or 2 year Fix'd Dual Aug24 v5.0 (plus £100 exit fees per fuel), is all that`s available just now.

I think people a fed up with "here today gone tomorrow" suppliers.
That`s the main reason why S/C are so high, to pay for the ones that failed.

Outfox The Market have been in operation since 2017

Current level of standing charges have more to do with OFGEM moving costs from unit rate to SC, April 2022 onwards than failed supplier costs.

As I said  many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

2010

bristolleedsfan said:

2010 said:

bristolleedsfan said:

2010 said:

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

It is only a no brainer if someone wants to stay with Octopus and be on a fixed rate tariff. ( Many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

15 month fix rates exactly the same as 12 month fix Octopus were previously offering, both fuels unit rates significantly more expensive than OFTM 12 month fix

No use quoting a tariff that doesn`t exist anymore.
OFTM, Fox Standard Dual or 2 year Fix'd Dual Aug24 v5.0 (plus £100 exit fees per fuel), is all that`s available just now.

I think people a fed up with "here today gone tomorrow" suppliers.
That`s the main reason why S/C are so high, to pay for the ones that failed.

Outfox The Market have been in operation since 2017

12 month fix on its website now albeit more expensive than when I posted - Exit fees: £25.00 per fuel. 

Current level of standing charges have more to do with OFGEM moving costs from unit rate to SC, April 2022 onwards than failed supplier costs.

As I said  many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

bristolleedsfan said:

2010 said:

bristolleedsfan said:

2010 said:

No brainer really.
15m fixed is cheaper than the Oct. cap and with another predicted increase in Jan., April will be the very earliest it it could go below the 15m fix but that is extremely unlikely.

If there is big demand for this it could soon get pulled and another less attractive put in it`s place.
So the tiny amount you could save by waiting another three weeks will be lost.

It is only a no brainer if someone wants to stay with Octopus and be on a fixed rate tariff. ( Many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

15 month fix rates exactly the same as 12 month fix Octopus were previously offering, both fuels unit rates significantly more expensive than OFTM 12 month fix

No use quoting a tariff that doesn`t exist anymore.
OFTM, Fox Standard Dual or 2 year Fix'd Dual Aug24 v5.0 (plus £100 exit fees per fuel), is all that`s available just now.

I think people a fed up with "here today gone tomorrow" suppliers.
That`s the main reason why S/C are so high, to pay for the ones that failed.

Outfox The Market have been in operation since 2017

12 month fix on its website now albeit more expensive than when I posted - Exit fees: £25.00 per fuel. 

Current level of standing charges have more to do with OFGEM moving costs from unit rate to SC, April 2022 onwards than failed supplier costs.

As I said  many Octopus customers would not currently consider either flexible Octopus or Octo fixed rate tariff.

As I said there are only two tariffs available for my post code both higher than Octopus.

Your also wrong about the Octopus 12 month fix being exactly the same as the 15m.
The 12m had £75 exit fees per fuel, the 15m has none.

Many Octopus customers would not consider OFTM anytime.