Octopus fixed rate ?

MouldyOldDough

My current deal is due to end next month

gas electricity

Standing charge 28.51p per day 41.35p per day

       Unit rate       5.36p per kWh 21.06p per kWh

What is the cheapest option for me to switch to ?

Octopus fixed 12 months is

Standing charge 28.42p per day 44.35p per day

       Unit rate       7.07p per kWh 25.79p per kWh

Early exit fee £100

Rodders53

https://www.moneysavingexpert.com/energy/

We can't do the comparison for you without your full address and annual usage figures!

MouldyOldDough

Elect - 1250kWh

Gas - 4800kWh

QrizB

https://forums.moneysavingexpert.com/discussion/comment/82009667#Comment_82009667

Using those numbers and my address (as I don't know yours), uSwitch suggests Fuse Energy as having the cheapest deals. Fixed or variable, Fuse are cheapest.

MouldyOldDough

This is what Octopus want to charge me for staying with them and risk another £100 in early exit fees - doesn't look very good - it's these damned standing charges that get me. That's a huge £160 increase !

QrizB

Whether you stick with Octopus or not is your decision to make. As above, Fuse seem cheapest in my region but you should compare for yourself.

MouldyOldDough

This does appear to be a good buy - I guess that my smart meter display won't work ?

QrizB

Those are tracker tariffs, so will go up in July when the cap rises 13% or so. Hopefully they'll fall again eventually but they're not a fix.

Your in-home display should continue to work. If you have an Octopus Home Mini, it'll stop working when you leave Octopus.

Rodders53

Fuse Fixed, Ecotricity Fixed and EoN Next Fixed are cheapest for my (Eastern) postcode if I lie and say I can get Gas… Almost everyone is cheaper than that new Octopus Fix annual price (but that may well change with your address input).

Use Uswitch or similar to get all (or at least most of) the options for your address and go for Fixed if that's what you want.

MouldyOldDough

https://forums.moneysavingexpert.com/discussion/comment/82009826#Comment_82009826

I prefer fixed, even if it is a little more - it gives me less sleepless nights !

Why is Octopus going back on their "cheapest deal" name ?

Rodders53

https://forums.moneysavingexpert.com/discussion/comment/82010427#Comment_82010427

Are they?
The current Iran War debacle is hardly of their making and they have taken decisions accordingly based on their estimates of future energy prices.

I'd been with EoN for a while. Octopus wasn't significantly cheaper until this year when I switched, planning on moving to IOG TOU but that bit got derailed by the same War issues. If/when that settles down things will likely change again.

Now if only buying Kerosene was as simple as choosing a fixed gas/electric tariff.