Octopus Energy...

[Ohbuggeritsme]

Another energy thread I'm afraid!

Anyone who is with Octopus, have you had an email confirming what your new prices/standing charges etc will be yet?

Their variable rates from 2nd April are on the website but not easy to find. Screenshot here.

At the moment it looks out household we will be better off sticking with standard variable rates but obviously it's a gamble as I've got no idea what they will go up to later in the year. The fixes I have been offered from next week when our current deal finishes are all only for 10 months and are nearly 50% higher than the April SVR.

@reqding yes you can stay with Octopus on the variable rate. You will be unlikely to find a fixed rate of a reasonable amount just now

Ours is going up £700 annually

[quote EnterFunnyNameHere]@TooManyPJs do you mind explaining this? I thought the whole point was the unit rate and standing charge was capped at a rate set by Ofgem. Clearly I'm wrong (!) but how do you find the cap for your area?[/quote]
There is a price cap but the one shown by ofgem is an average so it can be slightly more or less than the figure quoted

[quote EnterFunnyNameHere]@TooManyPJs do you mind explaining this? I thought the whole point was the unit rate and standing charge was capped at a rate set by Ofgem. Clearly I'm wrong (!) but how do you find the cap for your area?[/quote]
See @Ff10n post above....

@roses2

I got my email this morning. A 50% increase on unit rates effective 2nd April.

I'm an ex-Avro customer.

Ours with Octopus already doubled last October!

I have just checked the information in my email (there's a link that takes you to a page giving your current and new tariff details plus an offer of a fixed tariff), but the new tariff details differs from the tariff in the table!

I'm going to call them.

@TooManyPJs

I have just checked the information in my email (there's a link that takes you to a page giving your current and new tariff details plus an offer of a fixed tariff), but the new tariff details differs from the tariff in the table!

I'm going to call them.

Can you share the tariffs and the outcome of the call please?

The table matches my new tariff (South Scotland)

[quote dementedpixie]@reqding yes you can stay with Octopus on the variable rate. You will be unlikely to find a fixed rate of a reasonable amount just now[/quote]

Thank you that is what I suspected. I've been slow on the uptake of looking at the figures myself as I thought it would be futile.

@OneGoodTurn

We got moved to Octopus last year when our firm went bust.

We’re currently paying £80 a month and they’ve advised that they’re increasing that to £105. Less of an increase than I was expecting.

I take it that is with you putting in your metre readings.

Do you have a smart metre?

We were with avro paying 77 for gas and electricity. We were in credit, they're not putting ours up.

Yep, just electric with them and estimated increase of £700 a year.

The fix that they offered me jumped 4p/kWh overnight, so sticking with the variable for now.

Going by the new figures (thank you @TooManyPJs), and using my last month's usage as a basis, my bill will be increasing £90.00pm approx.

bearing in mind last month was my cheapest month yet, and i'm expecting this month to be more due to it being colder - i am officially worried as to how the hell we are going to afford to heat our house!!

I just looked to see what the offerings are today on octopus.

I sorted mine out on 2nd March (1st pic) todays prices (2nd pic) it’s jumped quite a bit in a week.

These are of course fixed and I’m gambling that the cap increase in October will offset the ‘overpaying’ now.

Currently £1570 per year, new predictions over £3k

Arse. They’ve posted the wrong way round.

I’m with Octopus on Go for electricity, fixed till November. The current rates if I switched to that now would be +50% on the cheap 4 hours and +100% on the day rate. By the time November comes round, will probably be higher still.

I was on Flexible for gas, but decided to take a fix last week. At 9.8p. Which is FOUR TIMES what I was paying on the variable rate this time last year. So that’s higher than the rate from April, but obviously gas usage is much lower over the summer. I reckon there’s a good chance the new price cap from October will be at or more than what I’ve just fixed at. If I’m wrong and it’s lower, I can always switch back because Octopus has no exit penalties.

The fixed rate currently being offered to me by Octopus is a lovely £284.00pm.

we are currently in credit with our account and to a certain degree we can absorb the increase, but with everything going up, and our wages staying the same (both me and DP have been told no pay increases this year), we are going to struggle.

Yes. We are electric only and ours is going up £386 a year. Two bed flat. We hardly ever put the heating on as it is, only if it’s freezing then we might for an hour which is probably why our increase isn’t as high as others I’ve seen.

Actually I read the wrong part. It’s going up by £340 a year.

Oh wow I’ve just checked mine. Ive been so happy with them for about 3 years, now my bill is going to go from £80 to £151 per month. It’s only me and my daughter here!

I'm really concerned about this as a single parent household. Should I be increasing my direct debit now to ease the blow later?

Got our letter yesterday, new tariff will mean we are paying around £1000 extra per year, so our monthly payment is going to need to be in the region of £200 to cover it. The cheapest fix is currently coming in at £360 or £4200 p.a. so we’re definitely going to stick to variable for now. Wow.

Just had ours through
Estimated £1000 more per annum

@reqding

The new price capped tariffs posted in the table up thread are correct.

The tariff they gave me in the link to my current tariff was incorrect.

Plus the annual prices for current use and the fixed tariffs on offer were also not correct so I would check these yourself.