Which policy?

rubyjones13

Hi all, we are electricity only, grade 1 listed detached cottage, no wood burner, storage heaters. We are currently with EDF but switching to Octopus. Which tariff is better do you think? Last month our EDF bill was over £500! The below two are the same but wondering if the fixed is better given the upcoming price cap. The current tariff photo is shown too. Octopus doesn't seem to have quoted off-peak either - not sure if they are bundling both in. Looks like they are just matching our kw/h peak rate with a reduced day rate. Have asked them for off-peak figures. Any advice about switching is welcome. 

I did ask 3 years ago if we could switch and octopus said no because we had complex meters.

Flexible Octopus
Electricity unit rate (standard): ⁨24.53⁩ p/kWh
Electricity standing charge: ⁨66.07⁩ p/day
Monthly cost: £279.40
Annual cost: £3,352.88

Loyal Octopus 14M Fixed
Electricity unit rate (standard): ⁨24.53⁩ p/kWh
Electricity standing charge: ⁨66.07⁩ p/day
Monthly cost: £279.40
Annual cost: £3,352.88

HillStreetBlues

Don't you already have to be an Octopus customer to get the "loyal" rate?

rubyjones13

HillStreetBlues said:

Don't you already have to be an Octopus customer to get the "loyal" rate?

Interesting, I'm not a customer but they've quoted it so assume they have to honour. But it is the same as the other price anyway.

QrizB

Why are you looking at a single rate tariff from Octopus when you have storage heaters and currently have a dual-rate tariff?

When are you getting a smart meter?

rubyjones13

QrizB said:

Why are you looking at a single rate tariff from Octopus when you have storage heaters and currently have a dual-rate tariff?

When are you getting a smart meter?

Hello, this is my reply today after asking about a dual tariff. I've also asked about the loyal rate—if we are eligible. 

Thanks for sending through the photos of your meters.

The quote provided was based on flat peak and off-peak flat rates, but as I can now see you have an Eco10 setup, the estimated quote would be based on the information provided:

Flexible Octopus

Electricity unit rate (day): Day: ⁨31.06⁩ p/kWh

Electricity unit rate (night): Night: ⁨13.01⁩ p/kWh

Electricity standing charge: ⁨66.63⁩ p/day

Monthly cost: £300.26

Annual cost: £3,603.15

Loyal Octopus 14M Fixed

Electricity unit rate (day): Day: ⁨29.06⁩ p/kWh

Electricity unit rate (night): Night: ⁨12.18⁩ p/kWh

Electricity standing charge: ⁨66.63⁩ p/day

Monthly cost: £282.21

Annual cost: £3,386.60

You are eligible for a smart meter installation once you switch to us. The current average wait time is around 9-10 weeks, depending on engineer availability in your area. In the meantime, you can absolutely provide manual meter readings.