Octopus - Lack of information

Ruperts_Trooper

Using a spreadsheet, I like to keep track of my energy costs, both historical actuals and future predictions - this means I need actual rates for standing charge and unit rates well in advance.

Despite searching their website, Octopus have no information about how fixed rates will change from 1st April due to the policy changes announced in last Autumn's budget - when I emailed Octopus their response was that they don't know and contact them a week before 1st April.

Since they've been telling Martin Lewis for some time now that they'll be reducing fixed rate bills from 1st April, I think this is shocking that they can't, or won't, publish the information well ahead of starting to use the new rates.

It's particularly frustrating since I'm on their "Money Saving Octopus 10M Fixed August 2025 V1" tariff negotiate by Martin and his team !!!

QrizB

I need actual rates for standing charge and unit rates well in advance.

No supplier - none of them - publishes their fixed rates in advance.

If you "need" this information you will forever be disappointed.

QrizB

I refer you also to your thread from 2022 where it was explained that the only requirement to provide information of changes in advance is for disadvantageous changes.

https://forums.moneysavingexpert.com/discussion/6340332/how-much-notice-is-needed-for-rate-changes

Tariff reductions aren't disadvantageous.

Ruperts_Trooper

https://forums.moneysavingexpert.com/discussion/comment/81902049#Comment_81902049

It's a fixed tariff I'm already on, not a new rate that I may move to or not.

gpman

https://forums.moneysavingexpert.com/discussion/comment/81902049#Comment_81902049

All energy suppliers have to provide advance notice of any change in tariff … and I'm sure they will strive to do so.

QrizB

All energy suppliers have to provide advance notice of any change in tariff … and I'm sure they will strive to do so.

That's not true, and you'd know it's not true if you'd read the linked thread and/or the text of SLC 31I.

gpman

https://forums.moneysavingexpert.com/discussion/comment/81902138#Comment_81902138

The source of my information came straight from the horse's regulators mouth on the MLMS earlier this week. Well worth a watch.

 The Martin Lewis Money Show Live - Series 15 - Episode 5 - ITVX  (login required)

EssexHebridean

It seems that there have been changes in the way that the price adjustments in April are being implemented, so it may well be that Octopus haven’t yet been able to work out what they are going to do with existing fixes. In fairness nobody would be happy if they rushed out an answer only to have to change it later.

gpman

@QrizB

Further to my earlier response in this thread, and whilst I'm not sure this is the best reference, you may wish to take a look at SLC 31F.3 and consider how a Domestic Customer is enabled to achieve that without being provided the details in advance of any change.

IOWJJBTM2025

If you are with Octopus you can download all your meter readings in spreadsheet format.

Assume you just pay direct debit every month.

We would all like to know how exactly the discount is going to be applied in April but don't know of any company that has 100% confirmed the details yet. MSE's info estimates that standing charge will not alter and the Elec / Gas will reduce by 3.54 / 0.33 pence per kWh. If you take these figures for now and put them into your spreadsheet you will have something and can change once officially notified.

Hopefully you do not get thirsty and boil the kettle more times than estimated or your spreadsheet will be wrong. If you can estimate to the nearest £5 you are doing well.

Lorian

I think if it's anything other than 3.54 / 0.33 we would be wanting to ask why as that's the figures, accounting for rounding, that ofgem used in their examples.