new octopus 14mth fix

northernstar007

Telegraph_Sam said:

I've come to the conclusion there is little on the market for no exit fees fixed tariffs that can better the Octopus 14-Month loyalty tariff on unit costs alone. And that if there is a more competitive tariff this will be on the basis of SC's.
It is interesting to see on E.On and EDF and Fuse & Co's websites how difficult they make it to see the underlying unit rates rather than the estimated annual charge which of course is meaningless

sam you missed out on edf 2 weeks ago for the north east (no exit fees) electric 23.856p per kWh SC 52.973p, gas  5.488p per kWh SC 25.883p, cheaper than current octopus fixes, fixed till 1st sept 26

Telegraph_Sam

That's the very point. Unless you remain glued to the various web sites you miss the good offers when they come along. In the absence of an alert app or similar. As it is my Octopus 14-M fix is giving me a better elec unit price of 22.92 but loses out on SC's @ 58.46 p.  Compensated by the export credits when the sun is shining  in the NE.

My gut feeling is to remain with Octopus unless there is a significant downside

I said in a different post that I can't get the Cheap Energy Club website to work which should take much of the legwork away. Can you try it?

Chrysalis

Curious how people have managed to set a £1 DD with octopus, I cant go below £50 (and pretty funny it recommends an amount of £480).  I am trying to set the DD low enough, so I can purposely avoid paying invalid bills they are issuing.  I will top it up manually to cover the valid bills.

northernstar007

Chrysalis said:

Curious how people have managed to set a £1 DD with octopus, I cant go below £50 (and pretty funny it recommends an amount of £480).  I am trying to set the DD low enough, so I can purposely avoid paying invalid bills they are issuing.  I will top it up manually to cover the valid bills.

i had a balance of aprox £350 credit and it allowed me to set the DD to £1 then ran the credit down then used a rewards credit card to pay my bill

Slinky

When I was about £100 in credit I wasn't able to adjust to £1, but I'm now at £255 in credit and I amended to £1.

Telegraph_Sam

I could never come to terms with in effect giving the provider a long term loan represented by the "credit" that I was expected to hold in my account against future bills. No interest paid and continual star gazing as to how much to hold in the account.  From the start I opted instead for monthly variable D/D's with a view to taking the guesswork and arguments out of the whole process.  Earlier this year I got caught up in Octopus's "re-billing" exercise which was a nightmare to resolve. Had there been forward payments (credits) to resolve as well then I suspect that even full time accountants would have bee struggling.

Telegraph_Sam

I was pleased to see that the Octopus 12-Month / Loyalty Fixed tariffs come top of the Moneysupermarket ranking - Fixed and Flexible tariffs - (for me) as soon as one applies the No Exit Fee filter. I might change from the 14-month though the difference is not ginormous.

Doc_N

Just checked my Octopus fix (Loyal Octopus 14M Fixed March 2025 v4) on the MSE comparison site - staggered to find that Outfox are now £220 per annum cheaper (Fix'd Dual May25 12M v5.0) on a £3400 total with a £50 per fuel exit fee.

Octopus seem to have ceased to be competitive.

bristolleedsfan

Doc_N said:

Just checked my Octopus fix (Loyal Octopus 14M Fixed March 2025 v4) on the MSE comparison site - staggered to find that Outfox are now £220 per annum cheaper (Fix'd Dual May25 12M v5.0) on a £3400 total with a £50 per fuel exit fee.

Octopus seem to have ceased to be competitive.

Several posts on forum mentioning that OFTM have been letting customers change to another fix with no exit fee.

When Octopus have added exit fees includes change of tariff.

Doc_N

bristolleedsfan said:

Doc_N said:

Just checked my Octopus fix (Loyal Octopus 14M Fixed March 2025 v4) on the MSE comparison site - staggered to find that Outfox are now £220 per annum cheaper (Fix'd Dual May25 12M v5.0) on a £3400 total with a £50 per fuel exit fee.

Octopus seem to have ceased to be competitive.

Several posts on forum mentioning that OFTM have been letting customers change to another fix with no exit fee.

When Octopus have added exit fees includes change of tariff.

The only thing still drawing me to Octopus now is the 15p export rate. I’ll calculate whether that’s worth more than the £220 potentially saved by moving, but I’m guessing not. If OFTM dropped its exit penalty formally, I’d almost certainly go.