bye octopus

northernstar007

well ive now left octopus 
been with octopus 18 months or so but with cheaper tariffs on the market and octopus not budging ive now blinked and safe safeguarding myself till sept 26 and cheaper than my current rates
and with zero exit fees ive got nothing to lose apart from my free weekly coffee from greggs which i can live with and the 4p on the monthly spin i wont miss

northernstar007

i have sent octopus a message with my new offer 
lets see what they come back with

mlz1413

We were with Octopus at work and like you found a cheaper fixed rate deal, I asked if they could match and they said no.

Octopus advised they can only offer the deals shown on the website and can't match other companies. 

I'll be interested to see if this is the same for domestic customers.

Lorian

I'm.considering a move too unless they drop their offer soon.

Merlin139

Octopus are now the biggest Energy provider. They don't need to offer deals to collect or keep all their customers at the moment.

Maybe if 100's of thousands or a million walkout the door they will drop prices.

Go where you get the best deal for yourselves.

bristolleedsfan

Octopus showed with April 2024v3 and v4, table topping at the time, limited number, put exit fees on ( which included subsequent change of tariff) to deter existing customers from changing to cheaper fixed tariff, no such thing as loyalty when it comes to energy suppliers.

If switch away both fuels for a better deal as T+C currently are can switch back after 12 months via £50 friend referral. 

wrf12345

Octopus probably needs lots of free cash to help out their poorer customers with s/c holidays and free solar/heat pump installs, which also keeps them within the 2 percent overall profit limitation imposed by Ofgem...

matt_drummer

wrf12345 said:

Octopus probably needs lots of free cash to help out their poorer customers with s/c holidays and free solar/heat pump installs, which also keeps them within the 2 percent overall profit limitation imposed by Ofgem...

The cap on profits imposed by OFGEM only applies to the retail supply of energy to domestic customers on the standard variable tariff.

It does not apply to the supply of energy to business customers, tariffs that are not svt, and the installation of solar panels, batteries, ev chargers, heat pumps or electric vehicles.

The installation of equipment described above and the sale of electric vehicles are not even the same type of business as the retail supply of energy to domestic customers.

What on earth makes you think that OFGEM would have any control over those types of business activities let alone capping the profits?

You can't possibly think that an energy company can install heat pumps and the like at a loss and offset those losses against excessive profits from the supply of energy to domestic customers to satisfy the OFGEM cap on profits?

Can you?

Xbigman

matt_drummer said:

wrf12345 said:

Octopus probably needs lots of free cash to help out their poorer customers with s/c holidays and free solar/heat pump installs, which also keeps them within the 2 percent overall profit limitation imposed by Ofgem...

The cap on profits imposed by OFGEM only applies to the retail supply of energy to domestic customers on the standard variable tariff.

It does not apply to the supply of energy to business customers, tariffs that are not svt, and the installation of solar panels, batteries, ev chargers, heat pumps or electric vehicles.

The installation of equipment described above and the sale of electric vehicles are not even the same type of business as the retail supply of energy to domestic customers.

What on earth makes you think that OFGEM would have any control over those types of business activities let alone capping the profits?

You can't possibly think that an energy company can install heat pumps and the like at a loss and offset those losses against excessive profits from the supply of energy to domestic customers to satisfy the OFGEM cap on profits?

Can you?

You're both wrong. The 2% profit figure is used when setting the price cap. It is not a limit. If you underspend in another area (customer service is a favourite for this) you can make more money. Then you have financing costs. BG are known to have lower financing costs than other companies and can make more for the equivalent prices and turnover. 

Back to the theme of the thread. I looked at the Prices Fuse are offering and the SC is low and the unit rates are competitive. I may be off to them soon too.


Darren

Midlands.

CRAIGEMMA

After days of number crunching I opted for fuse energy for electricity and will move gas over in a few months when they start that too.
Only thing with fuse is you pay bill in full every month no credit or being behind 

wrf12345

Fixed Fuse is 20 percent lower s/c and ten percent lower unit rate than fixed Octopus so a good deal for all, nice to see some more competition out there. Albeit with a £50 exit fee. Still sticking with Octopus as there are too many gremlins in the various systems to make changing worthwhile at the moment.