Octopus Flux Import Tariff vs Loyal Octopus 16 Month Fix

thriftytracey

I received an email from Octopus about possibly moving onto a fixed tariff as prices are going up in April.  The details of the new tariff did not include the cheap night time rate.  I called Octopus and spoke to one of their customer service representatives.  He clarified that the cheaper night time rate would still be available BUT if I moved to this tariff I would no longer receive the Outgoing Export from our solar panels.

He did say though I could move to the 16 month fixed rate for Gas only but would need to do this over the phone.

Octopus Flux Tariff - GAS

Standing Charge 28.21p daily
Gas 6.00p KwH

Current annual amount: £1,203.58

16 Month Fixed - GAS

Standing Charge 28.62p daily
Gas 6.30p KwH

Estimated Cost £1,203.45

I asked if this tariff would still be available in mid March so I can change it then.  He advised it would be.  There are no exit penalties and you can change tariff at any time during the 16 month period.

I don't really understand how the new tariff appears to be cheaper.  I should have asked him.  I think these calculations are generic as it calculates £100 a month cost when I am in credit £1200 at least twice a year.  I withdraw chunks of credit at different times.

So, just reporting seems worth changing the gas tariff I am not sure how much it will go up in April though, but can always change it.

QrizB

I think that's a generic marketing email and not particularly rlelvant to those of us using Octopus's innovative tariffs, like Flux.

What's your current gas tariff called? I don't think flux includes gas (gas isn't listed under Flux at https://octopus.energy/tariffs ) so it's probably called something else? Is it a fix from last year?

thriftytracey

Hi QrizB

The current Gas Tariff Name is Flexible Octopus

 Unit Rate 6.00p/kWh
Standing Charge 28.21p/day (102.96/year)
Price Guaranteed Until Not applicable
Early Exit Fee None
Estimated Annual Usage* 4595 kWh 

QrizB

thriftytracey said:

The current Gas Tariff Name is Flexible Octopus

Flexible Octopus is their Ofgem-capped SVT.

thriftytracey said:

Unit Rate 6.00p/kWh

That seems a bit low for Flexible Octopus. Have you taken that from a recent bill?

Gas prices are expected to rise to a national average of 7p/kWh when the new cap is announced next week:

https://www.cornwall-insight.com/predictions-and-insights-into-the-default-tariff-cap/

Yours might still be less than 7p, but it's likely to be quite a bit more than 6p.

thriftytracey

This is from a recent bill 

Alnat1

Those are prices without VAT

Qyburn

thriftytracey said:

I received an email from Octopus about possibly moving onto a fixed tariff as prices are going up in April.  The details of the new tariff did not include the cheap night time rate.  I called Octopus and spoke to one of their customer service representatives.  He clarified that the cheaper night time rate would still be available BUT if I moved to this tariff I would no longer receive the Outgoing Export from our solar panels.

If you're currently on Flux then that's all or nothing, move to a different import tariff and you lose the Flux export. But you could still get the fixed 15p/kWh "Outgoing Octopus"