Fixed rate Octopus

MouldyOldDough

I am aware that Octopus now charge "early leaving fines" on fixed rate deals

What concerns me - is what happens to tariffs - come August (I am on fixed August 2025 v3) ?

Will we be offered a fixed rate deal then or is it worth investigating now ?

Diaz09

Octopus typically starts offering renewal deals around 6-8 weeks before your current fix expires, so you'd probably see options from early June onwards for your August end date. The key thing is they usually email you automatically when renewal time approaches, so you won't miss it! I'd definitely wait rather than switching now and paying exit fees - the market's still pretty volatile and you might get better options closer to the time.

debitcardmayhem

Most people on here are saying that Octopus are not very competitive for fixes at the moment.

vic_sf49

I'm hoping their tariffs will go back to having zero exit fees, once the Iran / Trump situation calms down.

I'd keep checking regularly, to see if they have any good tariffs pop up, over the coming warmer months, and switch to that early, if they're competitive enough.

MouldyOldDough

https://forums.moneysavingexpert.com/discussion/comment/81953449#Comment_81953449

But I am not liable to early exit fees now - they added them since I signed up to the fixed tariff !

MattMattMattUK

Fixes are currently higher than they were before Trump started his war on Iran two months ago. Without getting political if the ceasefire holds then prices will fall significantly over the next two months. If you fix now you will not get the best possible price, you will get certainty that it will not change for the next year, or you can wait and see if the ceasefire holds, if there is a deal and then if prices fall back again. That risk/reward choice is down to your appetite for exposure to the energy markets.

MouldyOldDough

They won't even offer me a fixed rate now - I asked them

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/81954713#Comment_81954713

Octopus are still currently offering fixes, the rates are not great, but they are there.

QrizB

https://forums.moneysavingexpert.com/discussion/comment/81954713#Comment_81954713

Octopus are definitely offering fixes.

Who did you ask, what was your question and exactly what was their answer?

MouldyOldDough

https://forums.moneysavingexpert.com/discussion/comment/81954810#Comment_81954810

I sent the question : Do you have an fixed rate deals that I could transfer to in advance of my current fixed rate tariff expiring in August 2026 ?

Response : At this time, we are unable to offer any fixed rate tariffs so far in advance of your current tariff ending in August 2026. We recommend getting in touch with us around 42 days before your current fixed rate tariff expires. At that point,we will be able to provide you with the available options for renewal or new fixed rate tariffs.

Sent to hello@octopus.energy

EssexHebridean

Allowing for the volatility there has been in the market, and the fact that any fixed deal you are currently on almost certainly being better than anything on offer now, I'd sit tight and milk the current prices for all they are worth, to be honest. If I had a fix ending now, I'd be sliding onto the cap rather than fixing - yet there is a chance that things could still get worse on the fix front, but allowing that the orange dictator is beginning to show signs of trying to find a way of backing down without denting his ego too much, there is also a chance that they could get better!