octopus new tariff july v1

vic_sf49

2010 said:

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?

https://octopus.energy/tariffs/

wrf12345

and use the filter to set to domestic only, otherwise overwhelmed with business tariffs

WiserMiser

JemmyH said:

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!

There's a very quick and easy solution.  Ring them on their free 080 number and switch to Monthly Variable Direct Debit and then you'll pay not a penny more than your exact usage.

Of course, bigger bills in winter and smaller ones in summer, but you'll be in full control.

bob2302

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!

They require you to remain in credit. If you use more electricity in winter, you have to build up credit over the summer; by the end of July you should be substantially in credit. It's not clear that Octopus has done anything unreasonable.

If you don't like it, Octopus supports variable direct debit.

wrf12345

On the one hand, it is an Ofgem rule to avoid debt on the account, on the other hand most energy companies keep ramping up the fixed DD's regardless of existing credit or, it seems, the actual price of electricity. Variable DD is the answer and if you get the timing right you can get a bit of cash flow out of the change.

debitcardmayhem

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!

Well they tried to up my DD from £10 to £172.43 today.
 Called and answered within 2mins, CS rep said are you wondering where your export payment is, not entirely says I , why cannot I change the DD back to what it was i.e. £10 “I’ll do it now he says , and I have created the missing statement for June £131 credit. Can I help further “ No thanks says I and excellent service too.
Guess i’m just lucky 😎

Baldeagle095

I find Octopus a ripoff!    Would never switch to them!   Am paying 23.86 p per kWh for electricity SC 46.95. Gas is 6.23 and 24.6 SC. I have never known them to be cheaper so I wonder why MSE keep plugging them?
Am regularly on Credit Club to monitor prices.

debitcardmayhem

Baldeagle095 said:

I find Octopus a ripoff!    Would never switch to them!   Am paying 23.86 p per kWh for electricity SC 46.95. Gas is 6.23 and 24.6 SC. I have never known them to be cheaper so I wonder why MSE keep plugging them?
Am regularly on Credit Club to monitor prices.

Well I’m paying less than 4.900p for gas, but not using much at the moment, each to their own I guess.

northernstar007

and now a V6 out
what is the point

MACKEM99

northernstar007 said:

and now a V6 out
what is the point

ELO song ...Confusion.😃