Octopus so called Fixed Tarif

eljones

I moved into a new house in July and chose Octopus and their fixed tarrif for my electricity and gas this was just before the price increase.  I have been paying a fixed amount of £146.87 however today received an e-mail from them stating that as of 5th November my payments will be going up to £375.33, a difference of £228.46 a month!!  How can they do this when I am fixed for a year?

vacheron

A fixed tarrif means that price you pay per for each "unit" of gas and electricity you use will not change. If you use more units (as often happens in winter when the heating goes on and the nights get dark) you will pay more. 

It doesn't mean you can use as much electricity and gas as you like and not pay any extra. 

Peter999_2

It is amazing how many people think that on a fixed contract they can use as much energy as they want.   I know an accountant who thinks this.

Netexporter

vacheron said:

A fixed tarrif means that price you pay per for each "unit" of gas and electricity you use will not change. If you use more units (as often happens in winter when the heating goes on and the nights get dark) you will pay more. 

It doesn't mean you can use as much electricity and gas as you like and not pay any extra. 

As above. It's not all-you-can-eat.

Have you submitted (or your smart meter submitted) readings since the opening meter reads? If not, the monthly payment may be based on estimates, which may be based on the previous owner/tenant's usage pattern.

QrizB

Now that we've dealt with what a fixed tariff is and isn't ...

eljones said:

I moved into a new house in July ...

You have had three bills? Have you been checking them?

The bills should be based on meter readings. Are these readings shown as Actual (hopefully Smart) readings or are they estimates?

Do they match the readings on your meter?

eljones

Oh duh! No, I haven't given any meter readings since I moved in and gave my first so I will definitely look at that.  There are only two of us and previous residents were 4.

MikeJXE

You have joined Octopus at the start of winter when you will use most of the years energy 

With having no credit to start you off Octopus with want to get you into a credit position rather than a debit 

Bendo

Hopefully you have a working smart meter or you at least took and provided then a reading when you moved in. 

EssexHebridean

eljones said:

Oh duh! No, I haven't given any meter readings since I moved in and gave my first so I will definitely look at that.  There are only two of us and previous residents were 4.

Yep - that will make a difference!

It took me a few months to convince Octopus when we moved from a 2 bed flat to a 3 bed house that they didn't need to increase my DD levels from where I'd set them...and that was even with a smart  meter giving readings regularly! Got there in the end, though!