new octopus 14mth fix

MWT

barker77 said:

QrizB said:

barker77 said:

vic_sf49 said:

Loyal Fix April v2 is released. Off to switch my electric again.

Edited to add.... although this is only a 12 month fix, whereas I'm on a 14 month fix, so I don't think I'll switch. It'd only save me 27p per year on my usage.

Figures for East Midlands......

Are there requirements for this or can anyone be on eco 7? 

For a loyalty fix, you need to be a pre-existing customer. There's a slightly more expensive non-loyalty fix too, for new customers.

Anyone with a DCC-communicating smart meter can join E7, as can anyone with an old dumb E7 meter.

Interesting. Do you still pay two standing charges if have a smart meter ? 

You don't pay two standing charges on an old E7 meter or a smart meter...

barker77

Ah ! Wondering if e7 better than cosy for heat pump maybe a 

vic_sf49

Telegraph_Sam said:

I can't see the point of releasing new versions that are only marginally different from the existing one. The "reward" for being a loyalty customer is also minute

Edit:That said, it is obviously a bonus to have someone with sharper eyes than mine to draw attention to new versions regardless of what they offer

Because not everyone is as obsessed as us lot, checking for new rates multiple times a week, and hopping from tariff to tariff.

Lots may still be on Standard Variable Rate, and looking at fixes, or coming off a long fix with Octopus or another supplier, so won't know (or probably care), that a unit rate has dropped by 0.003p.

But Octopus/others need to release new tariffs when prices change.

Before rates went nuts, there wasn't the need to seek out a teeny rate drop, as rates were a lot lower. You usually just fixed for a year and left it.

Chrysalis

Its modern business.  Decades ago retailers would accept their margins were unstable and fluctuated in return for giving consumers stability in pricing.

Now days prices are all over the place across many sectors, in some cases changing multiple times a day.  Looking at Amazon price history as an example is an eye opener.

Telegraph_Sam

vic_sf49 said:

Telegraph_Sam said:

I can't see the point of releasing new versions that are only marginally different from the existing one. The "reward" for being a loyalty customer is also minute

Edit:That said, it is obviously a bonus to have someone with sharper eyes than mine to draw attention to new versions regardless of what they offer

Because not everyone is as obsessed as us lot, checking for new rates multiple times a week, and hopping from tariff to tariff.

Lots may still be on Standard Variable Rate, and looking at fixes, or coming off a long fix with Octopus or another supplier, so won't know (or probably care), that a unit rate has dropped by 0.003p.

But Octopus/others need to release new tariffs when prices change.

Before rates went nuts, there wasn't the need to seek out a teeny rate drop, as rates were a lot lower. You usually just fixed for a year and left it.

Not everyone is obsessed as us lot over (minute) rate changes. Yet Agile and to some extent Tracker's prices are by design constantly yo -yo-ing and that doesn't trigger new versions - thankfully.

debitcardmayhem

Telegraph_Sam 

Not everyone is obsessed as us lot over (minute) rate changes. Yet Agile and to some extent Tracker's prices are by design constantly yo -yo-ing and that doesn't trigger new versions - thankfully.

Except tracker gets one every 3 months 

vienna28

I was just about to switch from agile to todays new 12 month fix.  However I stopped when I saw they've introduced a £50 exit fee.

I am East Midlands

	Electricity Daily standing charge 47.72p /day Unit rate (day) 27.16p /kWh Unit rate (night) 12.11p /kWh Early exit fee (For changing tariff or supplier) £50

Here's a link to their long explanation to the exit
fees:  https://octopus.energy/blog/affordable-energy-during-a-crisis/

northernstar007

well spotted they have now put a £50 exit fee on per fuel (£100) 
but the gas price has droped from 6.09p kwh to 5.67p kwh, my current is 5.52p kwh till boxing day, there being crafty 

wrf12345

I suspect they don't want people chopping and changing on a whim, so big now that their servers must be close to overload. 

SpanishBlue

I'd be about £20 a year better off for Electricity and about £7 a year better off for gas on the new tariff compared to my current fix.

Seeing as it would now cost me £100 in exit fees, I'm not going to pull the trigger on this one, and instead will wait and see if a more appealing fix comes out in the coming weeks or months.