Octopus Energy Scandal

EssexHebridean

I wasn’t suggesting you checked what the In Home Display said - I was asking whether you have checked the readings on the METER match the readings on your bill. That is a basic belt and braces check which everyone should be doing even if they have a smart meter - errors aren’t unheard of. 

I will suggest again - read the meter(s)  (and get into the habit of doing so at least every three months) and then compare that reading with the reading in your most recent bill - do the numbers roughly match up (allowing for the period between whether bill was produced and now) or are they miles out? If the latter then part of the issue here could be that Octopus think you are using more than you are - so that is always worth a check. 

Have you now looked at the app to see if you can reduce the DD at all? If you can, then be cautious - and definitely only do so once you have checked that the  meter is sending accurate readings and that they are being accurately recorded on your bills. Work through your annual use and thus your expected annual spend for yourself , add 10% to that as a margin for safety and then divide that figure by 12 to see what you should be paying monthly. Even if you decide to switch to monthly variable DD then you will still need that figure for your budgeting in any event, so you may as well work it out regardless. 

Judging by your final line here, addressed to people who have been trying to help you, I wonder whether perhaps the issue with Octopus Customer Service has been to do with the way you have approached things rather than anything more “scandalous” - remember that the person on the phone is simply doing a job - they are not responsible personally for any issues you might be facing.  Trying to keep things civil and polite often gets a better resolution. 

Scot_39

Octopus like other suppliers are currently - and will in future - have a vested interest in maintaining credit balances - as are and in future will be able to access a large fraction of those - to offset operational costs.

It's called cash-flow.

A common thing all businesses have to consider - and reflect in prices - to remain operational or profitable.

And Ofgem has not - has repeatedly said will not in last couple of years - despite some vocal demands - force them to ring fence 100% of credit balances.  

Debts and 91+ day arrears were £3.8bn last year - total CCBs around £3.5bn - the late payment is still winning.

And remember that £3.8bn doesn't include anyone paying after consumption on MVDD who currently do not - and those on upto 3 months standard credit - who currently do(*) - pay a premium for that credit facility via Ofgems capped rates.  (*) Part of the soon to be £120 annual cap differential between standard credit and DD.

In business - negative cashflow inevitably gets reflected in higher pricing.

 

Annualized DD plans - arguably only annualized plans - should and do get a real benefit from their credit balances.  At cap TDCV level soon to be £10 per month.  

As the standard credit cap from Apr is £120 more expensive than the DD payment method cap.

At recent highs of around c5% in a good UK savings account - you would have to be missing 120/0.05 = £2400 on average for the year - in a bank account for them holding your cash as a credit balance - if you can still get 5% that is - to lose out on that deal.

At the £223 average CCB last Sep - you could "lose" £1 pm in interest (many would probably not move it out of a 0% or low rate current account at that level) - but still winning by £9 per month.

That net saving doesnt seem that much of "scandal"  - and if I was on standard credit - I might argue the £120 offset was true "scandal".

Those I feel more sorry for are those being moved onto monthly standard credit - if they are still paying that pro rata £120 - assuming as traditionally it has been - computed for the far higher cash flow costs and credit risk factors of those on 3 monthly terms.

In time as millions are moved - and reflected in suppliers costs reported to Ofgem - perhaps the two caps will get closer.

But arguably until then - all of those paying after billed monthly - so always behind use - need a fourth cap - somewhere in between the two.

Spoonie_Turtle

You don't even need the app to change payments, just go to the website:


You'll note our payment is £10 (used to be £3 before the energy crisis government payments and changes to the DD thereafter, whatever) but their recommended payment is well over £400 - even in our highest ever usage month, it wouldn't have cost us that much!  So just ignore the recommended and put in something lower.

Or e-mail to ask to be moved to Variable DD.

I know being neurodivergent* it can be confusing when things don't work the way they're supposed to, but that's the reality of this world.  This forum has saved my sanity multiple times for learning how things actually work so I understand how things actually happen in reality and thus know what to expect.

*not neurodiverse, that's for a group of people with different neurotypes.  One person diverging from what's typical is neurodivergent.

Phones4Chris

@moto50 Having read your more recent post, I'm afraid I think being told to "go to a competitor" IS a Scandal.
(I hope you noted the agent's name for future reference if so needed).
You seemed to have thrown some doubt on the accuracy of meter readings.
The query about the IHD and the actual meter is valid. However the IHD should accurately show the TOTAL kWh for your energy. if your are on a multi-rate tariff (even E7), it won't show separate readings for the day and night rates, you'd need to look at the meter itself.
Also check that the meter serial number showing on your acoount and bills is actually the one on the meter. Mix-ups have occurred before!

Officer_Dibble

The "change my payments" option isn't foolproof. I increased them in January, after a reasonable amount of credit had been used up, to cover my bills for the forthcoming year once averaged out. For reasons known only to Octopus they reduced this first DD to a random silly figure (without telling me). I restored the sensible amount for the next payment and they're now suggesting a random higher amount despite the fact that I've just moved my electricity away to a different supplier.

bristolleedsfan

And as a few of us who have switched away have found out when seeking to have final fuel reading which Octopus used there own higher estimated reading than opening reading used by new supplier remedied Octo C/S rep less than helpful at best made that a challenging message ping pong experience despite customer(s) communicating in a very nice pleasant manner.

moto50 Posts: 31 Forumite   

 5 March at 8:01PM

"Now, we have asked numerous times to reduce the amount paid each month to more accurately cover what we are using. Each time, INCLUDING TODAY - Octopus have told us that isn't possible. We have been told to KEEP the payment the same, or USE ANOTHER SUPPLIER.

Now, I am neuro diverse, so may have missed something here. Surely, if it was as simple as changing a setting in an app, or moving to a variable direct debut - why wouldn't the Octopus CS agent just say"

EssexHebridean

Phones4Chris said:

@moto50 Having read your more recent post, I'm afraid I think being told to "go to a competitor" IS a Scandal.
(I hope you noted the agent's name for future reference if so needed).
You seemed to have thrown some doubt on the accuracy of meter readings.
The query about the IHD and the actual meter is valid. However the IHD should accurately show the TOTAL kWh for your energy. if your are on a multi-rate tariff (even E7), it won't show separate readings for the day and night rates, you'd need to look at the meter itself.
Also check that the meter serial number showing on your acoount and bills is actually the one on the meter. Mix-ups have occurred before!

BiB - I suspect this being said to anyone (not specifically the OP)  depends on the tone of the conversation that preceded it - like a lot of organisations these days Octopus are intolerant to rudeness to or abuse of their staff - and it may be that the standard advice if that situation is encountered is to suggest that the customer moves elsewhere. It may of course also have been that what was said was along the lines of "Of course if you aren't happy with the way we do things, you are free to move to another supplier of your choice" which is entirely different in tone to "go to a competitor" presented as a stark statement. 

(Edited to correct ironic typo!) 

Phones4Chris

EssexHebridean said:

Phones4Chris said:

@moto50 Having read your more recent post, I'm afraid I think being told to "go to a competitor" IS a Scandal.
(I hope you noted the agent's name for future reference if so needed).
You seemed to have thrown some doubt on the accuracy of meter readings.
The query about the IHD and the actual meter is valid. However the IHD should accurately show the TOTAL kWh for your energy. if your are on a multi-rate tariff (even E7), it won't show separate readings for the day and night rates, you'd need to look at the meter itself.
Also check that the meter serial number showing on your acoount and bills is actually the one on the meter. Mix-ups have occurred before!

BiB - I suspect this being said to anyone (not specifically the OP)  depends on the tone of the conversation that preceded it ...........

Exactly, which is why I made the point (and I asked about the meter readings as well) it's up to the OP to give us a bit more information about the situation.

victor2

OP could put in an official complaint - Octopus will doubtless have a recording of the telephone conversation. But going by the tone of some of the (now deleted) posts on here, it may not favour the OP...

bristolleedsfan

victor2 said:

OP could put in an official complaint - Octopus will doubtless have a recording of the telephone conversation. But going by the tone of some of the (now deleted) posts on here, it may not favour the OP...

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