Page 13 | Just had an offer from Octopus

quicklybeendrivenmad · 2022-08-23T15:01:08+00:00

Octopus energy Log out 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.

Friars23 · 25/08/2022 01:12

Mumtofourandnomore · 24/08/2022 23:53

The issue is that people coming off fixes now, are still paying the low rates of 2021, before the market became volatile.

This is why people are seeing DD estimates that are so high, particularly for fixes, which now higher than the price cap - reflecting actual market conditions (the price cap has a lag).

As it’s an expected 80% increase for those who are currently on standard rate it is still obviously a big increase. For those coming off fixed it’s obviously even bigger.

1dayatatime · 25/08/2022 01:14

Mumtofourandnomore · 24/08/2022 20:08

@1dayatatime , the thing is, most wind farms are really expensive to set up, and so to get financing, wind farms will have hedged their sales prices to guarantee their revenue streams. This is true of other generators too.

This means that it isn’t the generator making the money, it’s the banks. It’s entirely dependent on whether generators hedge 100% of their output. Profit sits all over the place - making it hard to legislate for.

I definitely agree with you on Russia.

Sorry this is what it costs to produce one MWh of electricity from various generation types:

So for offshore wind it is £57 MWh, onshore wind £46 MWh and large solar £44 MWh. The average power price in June was £200 MWh - that is nearly £150 MWh profit or they are making four times in revenue what it cost them to build it.

As for hedging most wind and solar generators are only partly hedged or not hedged at all due to the unpredictability and intermittency of renewable generation.

For example if I have a 50 MW wind farm it is no use selling 50 MW of winter baseload because I don't know what hours and what days it will be windy plus I will have to cover the periods when it's not windy by going into the market buying back power at Christ alone knows what price on a low wind day. So in short no the renewable generators do not really hedge their forward production.

Friars23 · 25/08/2022 01:19

In the short term I think the govt must levy a further windfall tax on the energy producing and distributing companies who are coining it to pay towards supporting the public and businesses energy bills.

In the long term both distribution and retail would be better off nationalised. The retail (the suppliers) market as a business is a failed model. Govt should also be having a drive to better insulate more homes and initiatives to increase further renewable energy sources.

Pugdogmom · 25/08/2022 01:35

No way can we afford these prices and I earn above the average income. Think my days and nights will be spent wrapped up in bed. What a fecking life.

Pensioners, disabled people etc, wtf are they going to do? Universal credit for a single person is only £364 a month.

HopeIsNotAStrategy · 25/08/2022 04:13

Livelovebehappy · 23/08/2022 19:58

Does anyone on here have any alternative ideas instead of tumbler dryers in the winter months? I literally can’t think of how I’m going to be able to dry clothes without the dryer. Someone mentioned heated clothes horses, but they don’t seem to be that much cheaper than using a dryer. Everything else I can make cuts, but it’s just the drying clothes issue.

I've bought a spin dryer that spins at 2,800 revs per minute and extracts more water than your washing machine, to minimise having damp washing hanging around. A three minute spin also uses very little energy.

This sort of thing...

www.amazon.co.uk/Thomas-776-SEK-Large-Capacity/dp/B01N7VJ2F4/ref=sr_1_3?crid=1ZSY4E6TU3MI&keywords=spin+dryer+thomas&qid=1661397049&sprefix=spin+dryer+thomas%2Caps%2C66&sr=8-3

Other makes are also available.

MiniCooperLover · 25/08/2022 06:45

Our monthly charge with EON has been £160 up to now (3 storey house, both wfh so constant wifi use, no heating on since April and water only half an hour a day. DH checked y'day and EON want £450 a month to fix now (£5.4K a year). Martin Lewis said that was a good deal 😞

BarbaraofSeville · 25/08/2022 06:54

Alternatives to dryers.

If you're one of the 'wash everything after one use/wear' crew, its time to be a lot more discerning about what gets washed. Some people are doing far more washing than is necessary. Many things can be worn two or even three times before being washed.
Even in winter washing will dry to a degree outside if its a bit blowy and not raining/damp/under 5 C so time your washing so its ready to hang out as soon as it gets light if you can. Things might need finishing off in the dryer but they won't need a full cycle.
Innovative solutions that I've read about on here is putting airers under carports or even in greenhouses. In our old house, we had space on the upstairs landing to drape sheets and towels over the bannister.

You probably won't be able to completely cut out tumble dryer use unless you have space to have an airer sitting out more or less permanently in a room that is heated at least some of the time, and well ventilated, but you can reduce the usage significantly, which is always going to help.

FourTeaFallOut · 25/08/2022 06:55

That's interesting HopeIsNotAStrategy. Do you extract much water over and above your washing machine and what does your washing machine spin at?

Original poster

quicklybeendrivenmad · 25/08/2022 07:35

Has anyone who is with Octopus used the balance forecast crystal ball, which apparently takes into account price cap forecasts for October and January as well as the government rebate.

It states its not 100% accurate, I hope its not otherwise the level of debt it predicts on my account is scary.

OP posts:

MumEeeee · 25/08/2022 07:57

BarbaraofSeville · 25/08/2022 06:54

Alternatives to dryers.

If you're one of the 'wash everything after one use/wear' crew, its time to be a lot more discerning about what gets washed. Some people are doing far more washing than is necessary. Many things can be worn two or even three times before being washed.
Even in winter washing will dry to a degree outside if its a bit blowy and not raining/damp/under 5 C so time your washing so its ready to hang out as soon as it gets light if you can. Things might need finishing off in the dryer but they won't need a full cycle.
Innovative solutions that I've read about on here is putting airers under carports or even in greenhouses. In our old house, we had space on the upstairs landing to drape sheets and towels over the bannister.

You probably won't be able to completely cut out tumble dryer use unless you have space to have an airer sitting out more or less permanently in a room that is heated at least some of the time, and well ventilated, but you can reduce the usage significantly, which is always going to help.

We are a large family and we’ve never owned a tumble drier. To add to the above, we reduced our heating use late winter and the only thing that saved us from the damp for days issue in damp winter periods was a dehumidifier. Amazing the difference it makes next to a clothes aired for a few hours, it also solved the damp on the walls problem. Even though it’s an old house that’s not well sealed drying clothes indoors could cause issues. I didn’t use it lots, but it made a difference

dementedpixie · 25/08/2022 08:13

quicklybeendrivenmad · 25/08/2022 07:35

Has anyone who is with Octopus used the balance forecast crystal ball, which apparently takes into account price cap forecasts for October and January as well as the government rebate.

It states its not 100% accurate, I hope its not otherwise the level of debt it predicts on my account is scary.

That crystal ball thing doesn't take into account that you could increase your payment and therefore not plunge further and further into debt

Hugasauras · 25/08/2022 08:44

I think you can adjust the payment above it to see what effect it has. You certainly could when I did it last week (I had to go up to £500 to stay in the black!)

EtnaVesuvius · 25/08/2022 09:21

MiniCooperLover · 25/08/2022 06:45

Our monthly charge with EON has been £160 up to now (3 storey house, both wfh so constant wifi use, no heating on since April and water only half an hour a day. DH checked y'day and EON want £450 a month to fix now (£5.4K a year). Martin Lewis said that was a good deal 😞

I wouldn’t.

EtnaVesuvius · 25/08/2022 09:22

quicklybeendrivenmad · 25/08/2022 07:35

Has anyone who is with Octopus used the balance forecast crystal ball, which apparently takes into account price cap forecasts for October and January as well as the government rebate.

It states its not 100% accurate, I hope its not otherwise the level of debt it predicts on my account is scary.

Of course it’s not accurate! It’s in their best interests to secure a nice high DD from you…

dementedpixie · 25/08/2022 09:23

MiniCooperLover · 25/08/2022 06:45

Our monthly charge with EON has been £160 up to now (3 storey house, both wfh so constant wifi use, no heating on since April and water only half an hour a day. DH checked y'day and EON want £450 a month to fix now (£5.4K a year). Martin Lewis said that was a good deal 😞

Whats the price per kwh and standing charge on the fix?

EtnaVesuvius · 25/08/2022 09:25

If you're one of the 'wash everything after one use/wear' crew, its time to be a lot more discerning about what gets washed. Some people are doing far more washing than is necessary. Many things can be worn two or even three times before being washed.

Absolutely this.

We only ever wash anything if it’s dirty. We’ve got 3 kids who also play sport and our washing machine is only on 2-3 times a week.

Always wait until you have a full load and time it for a dry day.

AtomicBlondeRose · 25/08/2022 09:28

@EtnaVesuvius I also bought a clothes brush for a couple of pounds. Used to be widely used in the past and are great for things like trousers and coats, or jumpers you’ve worn with a t-shirt underneath. Gets crumbs and hairs off so you don’t need to wash it.

MinervaTerrathorn · 25/08/2022 09:40

quicklybeendrivenmad · 25/08/2022 07:35

Has anyone who is with Octopus used the balance forecast crystal ball, which apparently takes into account price cap forecasts for October and January as well as the government rebate.

It states its not 100% accurate, I hope its not otherwise the level of debt it predicts on my account is scary.

It doesn't take into account that my fix ends in March

HopeIsNotAStrategy · 25/08/2022 09:42

FourTeaFallOut · 25/08/2022 06:55

That's interesting HopeIsNotAStrategy. Do you extract much water over and above your washing machine and what does your washing machine spin at?

I have two machines, rather than a washer and a tumble dryer, so if it's a nice day I can get it washed off peak and get it out to dry. One is 1400rpm and one is 1600. I do get extra water out of both, which in turn means the air indoors is less damp in the winter and so easier to heat. When I was a student many years ago I had one that spun at 3,600 rpm, and shirts were dry enough to iron when they came out of that one.

With regard to drying outside, I remember reading somewhere that as long as the path was dry you should be able to get your washing at least partly dry if you put it outside. Extra bonus points if you have a breezy spot in your garden.

EtnaVesuvius · 25/08/2022 09:43

AtomicBlondeRose · 25/08/2022 09:28

@EtnaVesuvius I also bought a clothes brush for a couple of pounds. Used to be widely used in the past and are great for things like trousers and coats, or jumpers you’ve worn with a t-shirt underneath. Gets crumbs and hairs off so you don’t need to wash it.

You’re my kind of woman.

(or man)

MumEeeee · 25/08/2022 09:51

I got a steamer with a brush from Lidl, £12. Tops and coats come up beautifully

EtnaVesuvius · 25/08/2022 09:52

Also, we have a log burner and when it’s died down at bedtime I leave an airer in front of it overnight. By the morning the clothes are dry.

MumEeeee · 25/08/2022 09:53

My other thing is stains- either have a bucket somewhere or just a bag for life in the laundry basket. Wet the stain then bag/ bucket it so it doesn’t dry before the next wash. Even blood or ketchup washes out easily in a 30c wash if it didn’t dry.

Sporty2022 · 25/08/2022 15:39

For Christs sake we’re a rich country. And people are worried about turning the heating on , even turning the oven on and toaster on.

Im talking about working people to, not just pensioners or people on benefits.

What the fuck has happened to this country?

GreenFingersWouldBeHandy · 25/08/2022 16:04

@Sporty2022

For Christs sake we’re a rich country. And people are worried about turning the heating on , even turning the oven on and toaster on.

Speak for yourself! I'm on £324 Universal Credit a month while I set my own business up. I just cannot afford a £90 electricity bill per month when I also have to pay all other bills (car tax/insurance/petrol, house insurance, water, TV licence, mobile phone, broadband etc). Yes I have written it all down and it does not even cover it.

So I will not be putting my heating on this winter and I keep use of my oven and washing machine to a minimum. And keep your smug "Well I can afford it so why can't everyone else?" opinion to yourself please.