Just had an offer from Octopus

[quicklybeendrivenmad]

Octopus energy
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Your current tariff
Flexible Octopus
Unit rates
Electricity: 27.35p per kWh
Gas: 7.28p per kWh
Standing charges
Electricity: 48.26p per day
Gas: 27.22p per day
Your new tariff options
Octopus 12M Fixed
£989.12
monthly estimate
Loyal Octopus 12M Fixed
Most popular
£945.53
monthly estimate
This tariff features 100% renewable electricity and fixes your unit rates and standing charge for 12 months. There are no exit fees, so if you change your mind, you're in control.
Your new quote
£11,869.50

God knows where these figures have come from, last months gas was £19 and Electric £180!! Who the hell would sign up to £989 per month at nearly £12k a year. Love how they say Loyal Octopus "Most popular" popular to who? Think they mean them.

It doesn't give the tarrif rates per Kwh for the new tariff? So is that to clear a debt or what?

Oh God.

It's going to be absolutely carnage.
We are going to go into utter meltdown.
No money bring spent anywhere.

This is my loyal octopus offering. I'm not fixing

Freaking hell that's high..... what the hell are they putting you through there in the UK??!!

This is mine to fix, this is just ridiculous.

Mine from BG last week was similar. Worryingly they're no longer giving an option to change to a fixed rate online - you now have to phone for a quote...

Mine same from Ovo - last year we spent £ 2,473 over 12 months (variable) being offered 798 monthly for a 1 year fix or 1058 monthly for a 2 year fix!

Tbh I’d just email back with “lol”.

🤣

Wow. I am on that exact variable tarrif that you've quoted. Will await my 'competitive' offer as well.

They tried to increase my monthly payments by 50% a month ago even though I've got over £400 of credit with them. Yes I know prices are going up but why would I pay you more until I need to?!

I've just checked my most recent bill (Octopus) and whereas my previous bills stated 'price guaranteed 30th September 2023' it now states 'not applicable'. Are they allowed to do this or have i missed something?

You can look at the Octopus fixed tariffs on the app by clicking on Change My Tariff in your Account Details. I am offered a loyal fix and the normal fix and both are ridiculous prices

Do you mean that was your tariff?
Had you taken a fix

You can't compare monthly summer bills based on the current price cap with the next year's use that has to include winter and two price rises.

Both your £180 monthly electricity bill and the £12k fix suggest that you're a very high user, around double the national average.

Are you able to reduce your use and possibly invest in energy saving measures? With that usage, it's probably worth it, even if you have to get a loan to do so.

How can it be that much? How much energy are you using? This is very worrying.

This is mine if I want to fix it.

Fixed deals are almost all sky-high at the moment so not really with considering

That said, assuming you have gas central heating, with the new price cap changes coming up and winter ahead, I wouldn't be surprised if it was upwards of £700 a month. Octopus's crystal ball thingy says that we need to start paying £500 a month to stay in credit assuming the next rises go ahead as predicted and we are smaller users than you.

For a normal domestic home?

I've just fixed. Gone from a fixed v low rate to an option of SVR or fixed which is more expensive
I've fixed as it's likely to go up again in October and again after that
DD gone from £60 to £200
Basically if it was cheaper than these predictions I was fixing

Yes, normal domestic home, 5 bed house

That looks like you are using about 600kw of electricity a month? So I'm not surprised the quote is high. What is your yearly gas usage like? Do you have debt on the account? Agree the fixes are sky high but cutting usage would help (unless usage is disability related or you have ten children).

Yes it was fixed when i moved to Octopus in July 2021

Fucking hell

something is going to HAVE to be done, there's just no way people are going to be able to pay these amounts.

I didn't fix as early as I should have because this time last year, the fix 'only' saved me £5 per year & I couldn't be arsed. But when they started on about price rises I grabbed the next fix they offered. It was more expensive, but I took it.

so so so thankful I did. Plus it's fixed fir 2 years, not one. If I'd taken the original offer I'd just be coming off it now. As it is I'm fixed until Dec 23.

I would look seriously at any fixes because the Oct & Jan rises 'could' take you way beyond those prices & if there's no fee to swap out if the fix, it might be the best if the fucking awful options.

whichever twat gets in, they're going to HAVE to do something!

OP what's the actual kWh price and standing charges they're offering? Look at that
Compare it to this for gas and electric which is the predictions

Calculator here

https://www.moneysavingexpert.com/utilities/-are-there-any-cheap--fixed-energy-deals-currently-worth-it--/

I just got a similar quote from Ovo, and we use more energy than you do! It's complete madness out there.