Octopus Energy to pass on Autumn Budget savings to both variable AND fixed customers

Scot_39

Thanks.

Didnt realise Octopus were now likely in clear.  I had read one article quoting their boss  they were challenging how some of their deals - was it Shell retail supply buy out they mentioned  - were structured weren't adequately taken into account in the raw balance figures.

Ovo at 4m - not saying they are anywhere near collapse - but if did - would still be an equivalent number - in thd low end of a mix of estimates anyway ftom a quick google - which included bulbs c1.6m despite that being handled by SAR  - to those who went through SoLR in the first round.

And bulb at c1.6m and their £bns in liability - was considered too large for normal procedures at tge time  - so essentially nationalised under its special administration regime  until Octopus deal.  Which in end luckily let taxpayers off the hook for £bns.  Which iirc some estimates of upto £6bn were revised down  to c£3bn by OBR and settled.
 

PaulR137

Thei is what Fuse energy have said to me today "As of now, at Fuse, we are still reviewing our policies regarding the discount on all energy bills from April. We shall be keeping our customers in the loop if there are any announcements regarding the same."

thrifty46345

I have asked EON twice about the proposed reduction in APRIL for those on fixed rate deals.  Although their website and this site state that these reductions will be passed on, my email query response from them is as follows 

“ Thank you for your message.

As you are currently on a fixed tariff (Next Fixed 18m v23 for both electricity and gas), your prices remain as agreed when you took out the contract. Fixed tariffs are not directly affected by the government’s recent energy bill reductions or the price cap changes.

However, our new fixed tariffs will reflect the reduced standing charges and unit rates going forward, so if you were to switch to one of these new tariffs, you would benefit from the government’s reductions.

If you would like, I can provide you with a quote for a new fixed tariff that includes these reductions.

Please let me know if you would like to explore this option.”

This I find is quite unbelievable and flies in the face of their public stance.  Then again I’m not really surprised !

Chrysalis

squirrelpie said:

Perhaps the simplest would just be to credit everybody's account with £150? No, that would be too easy.

It would be by far the most efficient thing, similar to the scheme Sunak did with his winter subsidy, but its far too sensible an idea to be implemented.

northernstar007

Chrysalis said:

squirrelpie said:

Perhaps the simplest would just be to credit everybody's account with £150? No, that would be too easy.

It would be by far the most efficient thing, similar to the scheme Sunak did with his winter subsidy, but its far too sensible an idea to be implemented.

problem is it wont bring the unit/sc price down, it will only cover it for the short term

MattMattMattUK

Chrysalis said:

squirrelpie said:

Perhaps the simplest would just be to credit everybody's account with £150? No, that would be too easy.

It would be by far the most efficient thing, similar to the scheme Sunak did with his winter subsidy, but its far too sensible an idea to be implemented.

It would not be the most efficient thing to do. Those costs are currently part of the unit rates, so the most efficient thing to do is to remove them from the unit rates when the schemes are abolished, rather than collecting them from unit rates then reimbursing people by way of an arbitrary credit value based on a calculation of typical user and attempts to grab headlines. 

bristolleedsfan

Chrysalis said:

squirrelpie said:

Perhaps the simplest would just be to credit everybody's account with £150? No, that would be too easy.

It would be by far the most efficient thing, similar to the scheme Sunak did with his winter subsidy, but its far too sensible an idea to be implemented.

Plan they have will result in inflation drop.

sush40

thrifty46345 said:

I have asked EON twice about the proposed reduction in APRIL for those on fixed rate deals.  Although their website and this site state that these reductions will be passed on, my email query response from them is as follows 

“ Thank you for your message.

As you are currently on a fixed tariff (Next Fixed 18m v23 for both electricity and gas), your prices remain as agreed when you took out the contract. Fixed tariffs are not directly affected by the government’s recent energy bill reductions or the price cap changes.

However, our new fixed tariffs will reflect the reduced standing charges and unit rates going forward, so if you were to switch to one of these new tariffs, you would benefit from the government’s reductions. 

If you would like, I can provide you with a quote for a new fixed tariff that includes these reductions.

Please let me know if you would like to explore this option.”

This I find is quite unbelievable and flies in the face of their public stance.  Then again I’m not really surprised !

I'm confused, if this conversation with EON is dated from this month, how can they already provide quotes including reductions if the reductions are not applied before April 1st?

From what i gathered, I thought customers would benefit from the reductions even if they are on a current fixed contract with them, without having to change the contract or switch to another provider.

I am thinking of getting a fixed tariff with them but i am now wondering if it's the right time or if i should wait for new fixed tariffs including the reductions just before April.

gord115

Any news on So energy?
 I have a fixed tariff and can't find out if the price drop will be passed on to me.
The exit fees are £150 even if I move to another of their Tariffs!

parkhomeowner

I live in a Park Home and pay the site owner for my electricity I guess I will not receive the £150 reduction so the statement that all homeowners will receive this benefit is false