Octopus 16 month fix

evreypennycounts91

Hi all,
I am a newbie here but felt incensed enough to register and vent to all to see if anyone else has checked or experienced the latest offer from Greg Jackson the founder of Octopus energy.
I received an email from Octopus offering as follows:

However, as a loyal customer, at the moment we’re able to offer you a unique opportunity to fix your current prices for the next 16 months. Right now, we can buy the next 16 month’s energy for you at today’s prices.Wholesale costs are constantly changing but, in general, they’ve been heading upwards for some time now. For a typical Octopus customer, this could shave over £100 off their annual energy bill compared to the expected April rises. Right now we think this offer is cheaper than any fixed offer from any large supplier, and you’ll only get these prices directly from Octopus. We don’t expect them to last long, so if you’re keen to fix, now is the time to do it. ………… However, by following the link the offered rates were NOT as per my latest bill and I assume my current rates, but indeed the rates offered were approximately 6% higher than my current rates of which I presumed will be the April increased rates. I had to and fro emails getting nowhere with customer services who basically said I had a 1% increase in January and my current rates are that of the higher rate, which I simply untrue because I have a current bill with rates printed at the 6% lower REAL current rates. My final my simply asked for a yes or no answer to ask if Octopus were going to honor to fix my REAL current rates for 16 months of which the reply was NO those rates are not currently availibe. Rant over, hopefully I’m not the only one having this debate and Martin or an advertising ombudsman gets hold of it.

nekr0mantik

I got same email
Debating between the fix and changing to TE so posted in TE thread

bristolleedsfan

evreypennycounts91 said:

Hi all,
I am a newbie here but felt incensed enough to register and vent to all to see if anyone else has checked or experienced the latest offer from Greg Jackson the founder of Octopus energy.
I received an email from Octopus offering as follows:

. Right now we think this offer is cheaper than any fixed offer from any large supplier, and you’ll only get these prices directly from Octopus. We don’t expect them to last long, so if you’re keen to fix, now is the time to do it. …………

North West region - same unit rates as British Gas 12 month fix - British Gas lower SC both fuels, I am switching to British Gas on Monday via friend referral.

QrizB

evreypennycounts91 said:

I am a newbie here but felt incensed enough to register and vent to all to see if anyone else has checked or experienced the latest offer from Greg Jackson the founder of Octopus energy.

You seem to have got very emotional over an email you've misread.

Right now, we can buy the next 16 month’s energy for you at today’s prices.

Note this isn't a promise to match your personal current tariff, the energy for which will have been contracted for several months or years ago; it's to match the prices that would apply today, if you were to start a fix today.

northernstar007

bristolleedsfan said:

North West region - same unit rates as British Gas 12 month fix - British Gas lower SC both fuels, I am switching to British Gas on Monday via friend referral.

with there customer services, i think i rather stick with ocotpus and no exit fees, if there is any on BG

EssexHebridean

bristolleedsfan said:

evreypennycounts91 said:

Hi all,
I am a newbie here but felt incensed enough to register and vent to all to see if anyone else has checked or experienced the latest offer from Greg Jackson the founder of Octopus energy.
I received an email from Octopus offering as follows:

. Right now we think this offer is cheaper than any fixed offer from any large supplier, and you’ll only get these prices directly from Octopus. We don’t expect them to last long, so if you’re keen to fix, now is the time to do it. …………

North West region - same unit rates as British Gas 12 month fix - British Gas lower SC both fuels, I am switching to British Gas on Monday via friend referral.

The downside of this of course is that it means that British Gas will be your supplier. Hopefully you will be one of the rare customers who doesn’t need to experience their customer “service”! 

Qyburn

evreypennycounts91 said:

However, by following the link the offered rates were NOT as per my latest bill and I assume my current rates, but indeed the rates offered were approximately 6% higher than my current rates of which I presumed will be the April increased rates. I had to and fro emails getting nowhere with customer services who basically said I had a 1% increase in January and my current rates are that of the higher rate, which I simply untrue because I have a current bill with rates printed at the 6% lower REAL current rates. My final my simply asked for a yes or no answer to ask if Octopus were going to honor to fix my REAL current rates for 16 months of which the reply was NO those rates are not currently availibe.

What's your region and tariff? I'm on "Flexible Octopus", North Scotland and the 16M fix has exactly the same unit rate and standing charge as my last bill.

Are you sure you're not comparing the offered rates, which include VAT, with the ex-VAT rates on your bill?

Hemreyn

If unit rates are expected to rise then fixing at current rates makes sense. If rates go down in price then you can leave the fixed rate at no cost- what’s not to like?

wrf12345

"I am switching to British Gas on Monday via friend referral." They seem honest enough with regard to start and finish energy readings, and issuing a refund if in credit when you leave. No variable direct debit and an incessant pressure to increase your fixed DD even if in credit, the online chat does work but usually 15-30 minute wait to get connected to a real, albeit not British, person and then a lot of time wasted getting them to do what you want but eventually get there. There are worse energy retailers out there but annoying enough for me to avoid.

MikeyPGT

The fix is for the rates as they stand today and not the rates that you are currently paying - in my case it meant a 10p jump in standing charge as my existing contract was 12 months old.  

evreypennycounts91

Thanks for your replies everyone, seems I have missed read the mail and not understood my current rates are not their current rates as per brisolleedsfan so just a bit of a misleading email….. nothing to see here.