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Cost of living

Stretching your budget? Share tips and advice to discuss budgeting and energy saving here. For the latest deals and discounts, sign up for Mumsnet Moneysaver emails.

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Original poster

Just had my Octopus prices for October

55 replies

dementedpixie · 17/09/2022 19:38

Have had my personalised email giving my prices from October. They are making the standing charge 4% lower than the Energy Price Guarantee so my prices will be:

Electricity:
49.021p standing charge and 33.763p kwh

Gas:
26.841p standing charge and 10.277p kwh

Anyone else had any info yet?

OP posts:

TooMuchToDoTooLittleInclination · 23/09/2022 12:30

loveisagirlnameddaisy · 20/09/2022 20:42

I've heard nothing from Octopus despite emailing them. Have been fixed since July on a higher rate than the SVR and I've stuck with it because at first it looked like the gov reductions might reduce my fixed rate to lower than the cap.

However the gov webpage has been updated to say that there will be a 'floor' for fixed tariffs so they can't go lower than 34p for elec and 10.3p for gas. So I may as well be on the SVR!

@loveisagirlnameddaisy

What did you fix yours at?

you'll still get drops of 17p & 4.2p like everyone else. Will that not take you to the price fix rates of 34p & 10.3p??

TooMuchToDoTooLittleInclination · 23/09/2022 12:39

@loveisagirlnameddaisy i won't benefit at all as my fix is lower than the new price cap. I'm a bit miffed I won't benefit at all, but will be stuck with higher prices for years to pay for it. However, I'm trying to think instead about the people that will benefit & trying not to mind TOO much.

same with Stamp Duty too, same levels all over the country, but I'm SE & house prices are HIGH here, but no additional relief on stamp duty, whereas a person buying the same house in a different area will pay much less SD.

I can't buy elsewhere as my job is niche and I have to live here.

TooMuchToDoTooLittleInclination · 23/09/2022 12:41

Whatapalavarrr · 23/09/2022 10:12

We have an economy 7 meter so have cheaper electricity overnight, although we don't have storage heaters.

Our overnight electricity has actually gone down from 20p to 15p 😮

I was already trying to set things to run overnight so have resolved to always have dishwasher etc running overnight. I'm sure someone will come on to talk about the fire risk, but our appliances are all pretty new and it's a massive saving compared to the daytime rate 🤷🏻‍♀️

@Whatapalavarrr

just make sure your smoke detectors are top notch!!

I need to replace mine. It's still 'in date' has a new battery and yet didn't go off when chef Extraordinaire burnt the toast!! 🙄🙄

loveisagirlnameddaisy · 23/09/2022 12:56

@TooMuchToDoTooLittleInclination Yes, I will still get the new Govt capped rates but initially it looked as though the rate reductions might be applied to some fixed tariffs taking you below the cap.

I think the Govt realised this wasn't clear and updated their webpage to say there would be a floor.

Anyway the SVR with Octopus has gone up during Aug and Sept so I've stayed with my fix. It's only another week now.

Still not heard from Octopus, not impressed with their customer service which is usually very good,

ifonly4 · 23/09/2022 15:10

I gave our new costs above and haven't had final confirmation from Bulb yet what our monthly amount will be moving forward, but we currently pay £104.52 monthly and are £264 in credit.

No calculations, but our account is now saying they recommend lowering our payment to £63.06. Under the cap, I suspected our payments might go up to £130ish, so I guess this'll be our monthly payment less government monthly payment. We're careful with gas and electric and our monthly payment was £65 last year, so this is good news for those of us who are more careful - obviously we need to be aware of increased payment from April 2023 onwards.

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