Low Standing Charge tariff

mazjohn108

My Octopus fixed tariff for gas and elec ends in a few days. I am being offered a new fixed rate, flexible tariff or low standing charge tariff. Based on their calculations, the fixed low standing charge is about £7 pm cheaper than the normal fixed rate. I live alone in a 2 bed flat with gas heating. If I go for the low standing charge, I don't want to be thinking I mustn't turn the heating up because it is more expensive so how much extra energy could I use for that extra £7 per month? t

Prices are:

Elec low standing charge 28.61 per day,28.97 kWh

Gas low standing charge 5.1 per day, 8.08 kWh

Elec standard fix 46.41 per day, 25.36 kWh

Gas standard fix 28.39 per day, 6.95 kWh

Both have £50 per fuel exit fees.

So which should I go for or is that like asking how long is a piece of string??.

la531983

You can only go off your historical usage, which will have already factored in you turning the heating on over winter.

QrizB

So which should I go for or is that like asking how long is a piece of string?

How much gas and electricity per year do Octopus think you use?

I haven't done the sums for your particular tariff but I have done for the versions of the tariffs on offer in Southern region on the 8th of July. See this post.

The break even point for the low SC fix vs. the normal fix was 1779 kWh/yr of electricity, 7522 kWh/yr of gas.

Ayr_Rage

Simple, use your actual average annual consumption in kWh for electricity and gas, not the estimated monthly DD amount and do the calculation.

mazjohn108

Thanks for replies. Octopus say I use 856 kWh electricity per year, 3162 kWh gas per year. My electricity use doesn't vary much, it would be extra heating if the winter was exceptionally cold that would make a difference.

Ildhund

Elec low standing charge 28.61 per day,28.97 kWh

Gas low standing charge 5.1 per day, 8.08 kWh

Elec standard fix 46.41 per day, 25.36 kWh

Gas standard fix 28.39 per day, 6.95 kWh

Both have £50 per fuel exit fees.

Are you sure all of those figures are correct? I'm staring at a standing charge for gas of 5.1p/day and I can't help thinking there's either a digit missing or the figure applies to something else.

QrizB

I'm staring at a standing charge for gas of 5.1p/day

That's correct for Octopus's Low Standing Charge tariffs.

You can see for yourself at

https://octopus.energy/tariffs

MWT

https://forums.moneysavingexpert.com/discussion/comment/82072507#Comment_82072507

The catch for gas is the minimum use of 2,836kWh and the break-even point of around 7,500kWh.

QrizB

https://forums.moneysavingexpert.com/discussion/comment/82072434#Comment_82072434

It looks as though you're a low enough user that you're going to be better off, even if it's a hard winter. You could roughly double your gas use and still be better off on the Low Standing Charge tariff.

mazjohn108

Thanks for your help everyone. Think I'll go for the low S/c tariff.

J63320

Do check your actual usage. I’m with Octopus and my fix expires soon, but the figures they are using when offering me new tariff options are lower than my actual usage has been for last two years - which of course makes their quotes look more competitive!