Anyone with Octopus - really worried about price increases?

[goingpearshaped]

Is anyone else with Octopus? The MSE emails are scaring me re energy prices as they don't seem to have any fixes worth having. Can't move to Utility Warehouse as too tied in with other contacts. Is anyone else also not fixing? Current open market fix is 103% more than current cost so not worth it. It's insane and bloody worrying.

Why octopus particularly? Are they doing anything differently to other energy companies?

Ah sorry, I just meant that others have possible fixes and Octopus seemingly does not in terms of a worthwhile one ATM. I think the MSE emails send me over the edge. It's all so shit for everyone.

I'm with octopus and I am on the standard variable tariff. I haven't even seen any fixes advertised by them? I thought they would email me with offers but nothing so I'll probably stay on the price cap.

I'm with Octopus and am adopting a head burying stance tbh.

I thought this was about people having octopi as pets or something. I think that’s my q for bedtime 😳

Same.

Octopus are no worse than any of the others.

I am.

I'm crossing my fingers the predictions are wrong.

Thanks. Totally agree that Octopus are no worse than any of the others, guess my thread title was unhelpful. It's just some like EDF and British Gas have worthwhile fixes whilst Octopus don't (as I imagine others don't either). Rah, let's hope they are wrong but I am not convinced. Ours was estimating over £500 per month, that is just ridiculous.

I'm with Octopus ans am staying on the SVR as the fixes on offer are insane.

@Jessieharriet181 you can check the fixed offers online with Octopus if you click on 'change my tariff'. The Loyal fix they offer for me has an estimate of £420 per month! I'm not going for it

I'm with Octopus. I was on their SVR until end of June when I took a punt and swopped to their Coop loyal 12 month fixed (I was a coop customer years ago before the takeover). Standing charges the same, gas and elec about 45% more, but mu usage is low in the summer.

With the rises now being quoted for Oct and Jan I'm starting to think this wasn't such a terrible idea.

I usually pay about £80 electricity and it's gone up to £120 and that's with proper readings. Barely using gas so only £16.

They are predicting I need to budget £700 a month come October. That's just utter nonsense 🙄

@dementedpixie thanks. I just checked and worked out the fixed unit prices are 60% more than what I currently pay. On money saving expert it says only fix if 57% or less.

@Jessieharriet181 , us too, it's just not worth fixing with them as under what MSE suggests.

🤣

I think deals come and go, I'm with Octopus and I got a good offer in February, my last deal was ending in April. So glad I grabbed it although it seemed high at the time but I'm not looking forward to next April when the deal runs out.

It's a nightmare isn't it. I'm trying to reduce how much we use but it isn't easy. I hope you get an offer soon.

Im with Octopus and havent been offered any fixes worth while either so just sticking on the SVR, although they have told me to lower our DD by £10 per month but im just leaving it!

OMG that is horrific. How on earth have they come to that.

Is the £400 from the govt going straight to your fuel company? I hope it is as DH just asked and I said yes.

I’m with Octopus and have just been informed that my bill will be going up again from £240 to £290 per month (was £140 this time last year)

Considering cancelling the DD and paying monthly as I’m in just under £500 of credit so can’t understand all the increases! Seems to much for balancing out the winter costs 🤔

The £500 pm might be a massive overestimate, because it's pretty meaningless by itself.

Do you know your annual consumption and what it costs on the standard rate? Is your direct debit currently at the right amount with no huge debt or credit on your account?

Depending on your circumstances, you may be entitled to help to reduce the cost, eg people on TC or UC are getting £650 towards the cost, which should help a little.

Can you do anything to reduce the amount you use? Either just managing with less, or installing energy efficiency measures?

Have a look at:

www.moneysavingexpert.com/utilities/how-to-get-help-if-you-re-struggling-with-your-energy-bills-/

I honestly think they plucked that figure out of the sky !

The whole thing is a mess isn't it. Yep, we are about £500 in credit I think. Just checked and it estimated £538.91 per month. I have upped our payment from Aug to £350 just to keep more in the pot so to speak but that's already a huge huge increase, we do not live in a mansion! Not entitled to extra help as we will be okay but I just can't understand all of this. The fix they have is £522.93 estimate per month but I worry that they have indeed plucked figures out of the sky and that this is not sufficiently worth changing for.

Not so sure re annual consumption as we have pinged around a bit annoyingly (bust suplier, BG then Octopus) so will try and dredge up some older data as I used to have this info. We are getting a smart meter next week which I have resisted until now. I figured it will really help me focus on where gas/elec is being used (mostly kids not turning stuff off). I am on the case, DH thinks I am a bit overkill but bloody hell, anything to reduce those bills.

I am moaning as I can't see how people can find this money. This is so dire for so many and the government just don't seem to care at all. I really worry what is going to happen to some individuals and families this winter.

DH thinks I am a bit overkill but bloody hell, anything to reduce those bills

Is DH aware that, come October, the cost of G&E will have just about tripled in 18 months? Does your budget have the capacity to just absorb that much of a rise, along with the increases in petrol/diesel and food?

Even if you can still pay your bills, the reduction in disposable income for many will be significant and most people would like to spend their money on something more interesting than leaving lights on in unoccupied rooms.

Look in the small print on your account. It should tell you your estimated annual usage - this info is available for every property in the country based on historical data according to my supplier, Octopus.

I'm confused tbh. With octopus and pay 94 a month and 239 in credit.
No contact about any price rises but I think I'm on a fixed thing anyway.. I don't realy know tbh. I just give meter readings and pay every month.
Im a very low user though tbf!

Just seen you're with Octopus. They print your estimated annual use on the second page of your bill.

You don't have to have been with them for a year for this, it's on all the bills they issue, although it will get more accurate the longer you are with them.