Octopus IOG - 8p Off-Peak Rate

MeteredOut

Octopus have moved IOG to a 6 month fixed only for now, with 8p overnight, and a rather expensive day rate too.

For new customer/renewals only (for now). I wonder what they'll do to the variable IOG off-peak rate folk are already on.

QrizB

It was 7.5p a day or two ago.

This might only be for new customers; I'm still paying 7p/29p (and my weighted average price is around 9p).

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/81911063#Comment_81911063

Yes, new customers only (for now) - had just edited to clarify that. I'm still on 7p too, but you're right it went up to 7.5p for new folk on the tariff a few days ago.

MWT

https://forums.moneysavingexpert.com/discussion/comment/81911064#Comment_81911064

Yes, that was Intelligent Octopus Go 12M Fixed February 2026 v1.

My current IOG fix ends next month, but I've already got the Feb fix locked in to roll onto once it expires.

Chrysalis

https://forums.moneysavingexpert.com/discussion/6658189/octopus-iog-8p-off-peak-rate

Wow thats close to the standard GO I signed up to a couple of days ago, in terms of average unit cost. It might even be worse as my day rate is 4p less.. Also I got 12 months with no exit fee.

The good news is though Octopus are not quoting post April prices on their smart tariffs, so they a little misleading compared to legacy fixes. Those unit rates will drop in April.

MWT

https://forums.moneysavingexpert.com/discussion/comment/81911342#Comment_81911342

Go is now at 9.5p on a 6 month fix, so everything went up.

Those unit rates will drop in April.

The peak rate will, but I doubt there will be a change in the low rate.

Chrysalis

https://forums.moneysavingexpert.com/discussion/comment/81911423#Comment_81911423

Well yeah, I never said GO never changed. I just compared to the one I signed up to, as an indicator of how much Octopus and other suppliers are changing things.

born_again

Greg explains all on fixes

https://youtu.be/mBqOcOQTvoc?si=zOOlKdqsIXKtXl8Z

Ryan31

Anything Variable will probably change to align a little higher to their fixed options, the night rates with octopus are great if the majority of your usage is overnight however the day rate on these products is extremely high as appose to the usual suppliers. I do completely understand that these are made for businesses that use the bulk during the night but there are still some who take these products because of the idea of an 8p unit rate. The average unit rate with most suppliers from what I have seen as a broker is around 21-24p at the moment which means your average weighted unit rate on a standard rate meter would be much better off on this 21-24p if your usage is evenly spread across day and night. Just some food for thought

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/81920413#Comment_81920413

I'm still on the 7p overnight rate. My average has pretty much tracked 12-13p for the past year.

I have an EV. I know those with solar panels and an EV can average significant lower.

Ryan31

https://forums.moneysavingexpert.com/discussion/comment/81920471#Comment_81920471

Is this with a 35p day rate also? and does most of your usage come from the night? Like I say it is dependant on when the energy is used mainly and its what is so good about these products for 1 person and so bad for another