OFTM

saucer

After lots of benefit from Octopus Tracker, and less benefit from their January fix, I’ve decided to go whole jog with OFTM 2yr fix. With all the rumblings in the Middle East and the rate they are offering at the moment, it seems like a sensible move. I’ll be having a wee think within the cooling off period and I’m interested in peoples thoughts. 

Brie

I did a renewal one year fix with them recently as I couldn't find anyone else that was cheaper.  Generally a good price but somewhat garbage on the customer service.  But then I think most of the energy companies get complained about a lot.

otb666

I only go with one of the big six as if they go bust you end up being taken on by another company with higher prices.  If they are offering prices too cheap they are vulnerable when they are under selling and can quickly go bust if there is a sudden increase in prices for whatever reason.

saucer

Although I’m assuming the fix would need to be honoured, so I’m not worried about them going bust.

bristolleedsfan

otb666 said:

I only go with one of the big six as if they go bust you end up being taken on by another company with higher prices.  If they are offering prices too cheap they are vulnerable when they are under selling and can quickly go bust if there is a sudden increase in prices for whatever reason.

OFTM have been going since 2017.

QrizB

saucer said:

Although I’m assuming the fix would need to be honoured, so I’m not worried about them going bust.

The SoLR doesn't usually continue the failed supplier's tariffs. Most commonly you're moved to the SVT.

But, as above, OFTM have been going for a while and rode through all the recent energy market stresses and strains. They'll probably last another 2 years.

Rivers_mum

I’ve found their customer service to be good. I used the online chat yesterday, only waited a few mins and got my DD reduced no problem 

MWT

saucer said:

Although I’m assuming the fix would need to be honoured, so I’m not worried about them going bust.

Just to be very clear, no, the fix would not need to be honoured as your agreement with the failed supplier ends when you are transferred to the Supplier of Last Resort.

What we have seen in the past is the new supplier offering a new fix which may or may not be close to the fix you had, but there will usually be a fixed tariff offered as an option, not just their SVT.