octopus new tariff july v1

JemmyH

I'm with Octopus for Electricity supply.  My unit price is 26.60p per kWh and standing charge at 47.56 per day (all plus 5% vat, of course).  Well, Octopus themselves have said  "Lower wholesale costs mean prices are falling [in July] - around £120 a year for a typical home".  However, they've seen fit to increase my monthly direct debit from £78 to £130!  Their excuse is something to do with - "your target balance"?  So, it seems I'm 'in credit', but not enough 'in credit' for their liking.  They aren't 'holding on' to enough of my money?  My calculation for the last 12 months shows that I've used £67 of electricity per month on average, plus the standing charge of £15.50 (31 days) making £82.50 per month total.  WHY should I pay them £130 a month to cover an £82.50 bill?  It's time they were charged the statutory 8% interest on all overpaid accounts!  That's why they're called Octopus .... they have eight arms to grab more money with  ..... the grabbing cephalopods!

wrf12345

Slightly more tempting, maybe v4? Funnily enough my gas is ending beginning of Sept and have had an email inviting me to sign up for the gas part of this one and can do it online but have to phone in for the electric (only makes fiscal sense if I do both together) so they still have some sorting out to do. The electric is fixed until next year, new one has lower s/c but higher unit rate but as a low user I would make a very minor saving but more than the increase in gas s/c. The prospect of zero s/c tariffs before winter means I can't summon up the energy to phone them.

northernstar007

and now a V4 out not sure if theres any difference

20122013

JemmyH said:

I'm with Octopus for Electricity supply.  My unit price is 26.60p per kWh and standing charge at 47.56 per day (all plus 5% vat, of course).  Well, Octopus themselves have said  "Lower wholesale costs mean prices are falling [in July] - around £120 a year for a typical home".  However, they've seen fit to increase my monthly direct debit from £78 to £130!  Their excuse is something to do with - "your target balance"?  So, it seems I'm 'in credit', but not enough 'in credit' for their liking.  They aren't 'holding on' to enough of my money?  My calculation for the last 12 months shows that I've used £67 of electricity per month on average, plus the standing charge of £15.50 (31 days) making £82.50 per month total.  WHY should I pay them £130 a month to cover an £82.50 bill?  It's time they were charged the statutory 8% interest on all overpaid accounts!  That's why they're called Octopus .... they have eight arms to grab more money with  ..... the grabbing cephalopods!

Same has been happening to me, it was explained that these are automatic calculations (ie nothing they can do about it). What I can do and am doing is manually adjust the payment amount (but need to keep an eye on it) as it auto adjust itself (of course - some type of online wrestling ) If you want  a credit refund, make sure you attached your most recent reading it has to be taken on the day you submit your request. 

20122013

wrf12345 said:

Slightly more tempting, maybe v4? Funnily enough my gas is ending beginning of Sept and have had an email inviting me to sign up for the gas part of this one and can do it online but have to phone in for the electric (only makes fiscal sense if I do both together) so they still have some sorting out to do. The electric is fixed until next year, new one has lower s/c but higher unit rate but as a low user I would make a very minor saving but more than the increase in gas s/c. The prospect of zero s/c tariffs before winter means I can't summon up the energy to phone them.

I think someone had mentioned that if you get the new fixed tariff now, (even if it is a litter dearer) you have the fixed for longer. 

2010

I switched tariff to the July V1 earlier this month.
Mainly to get a 12m fix from my previous 15m fix.

Since then Octopus has brought out three more 12m fixed tariffs.
All of which have made very little difference for any savings.

I'll have a look at Aug/Sept offers but not expecting any worthwhile savings but will probably switch again to get the longer 12m fix.

northernstar007

V5 now out, again i cant see any difference

wrf12345

s/c's the same but the units rates have gone UP a touch on V5

2010

northernstar007 said:

V5 now out, again i cant see any difference

I usually search for new tariffs on mse energy club.
I can't see the latest V5, do you have a link elsewhere where I can find new tariffs?

vic_sf49

V3 to V4 to V5.... 

....they seem to be changing the E7 rates, but the separate fuels are staying the same, or changing by 0.01 (East Midlands).