Octopus Customers - what are you doing?

[JorisBonson]

We're currently on a flexible tariff with Octopus and £200 in credit.

Are people staying on the flexible rate or fixing? We've been offered a fix which is basically double what we're on now, but I'm very wary of October being not far away!

I’m staying on flexible. I just can’t afford the rates they’re offering on fix. I don’t know what we’re going to do come October to be honest!

I was on a deal with Octopus which ran out in April. In February I was offered a new deal to start in April. It was slightly above the current cap and I was very undecided about what to do but I'm so glad I did fix. Bit worried about next April though so I'm trying to cut back on what I'm using and starting to build up some credit.

It is hard to decide so I feel for you.

Ditto. We can afford it, but it means cutting back on a lot of other things.

I'm dreading winter 😔

Just checked and we actually have £350 credit, but they haven't taken any money from it since we got a smart meter installed almost 2 months ago 🤔

I’m in the same boat. I’m going to have to stick with flexible but I’m really worried about it. There’s no way I can afford the fix, I’m struggling to afford the flexi at the moment, but when I’ve done price comparisons, Octopus still seems cheaper by a long chalk.
Scary times…

It really is @knackeredagain. The uncertainty is horrible.

We’re staying on flexible. We’ve only recently moved into this house so we don’t really know what we will h be using come the Winter. The fix they’re offering is more than double what we’re paying now. We’re in credit atm. It’s so difficult to know what to do for the best.

I am also staying on flexible as I cannot possibly afford the new fixes, I have upped my direct debit voluntarily by £50 a month and hoped that would lead me to be comfortably in credit but it hasn't - just a smidge in credit for now.

Will just have to cut energy useage as much as possible but tbh I was already very energy conscious anyway so it might get grim.

I’ve just given Octopus a call after reading this, and spent 25 mins going through the options. Less than a minute on hold - one of the things I love about Octopus.
I’ve just moved from their Flex tarrif to the Loyal 12 month fix (no fee to exit if prices miraculously come down!) My daily rate is staying the same, though unit price for electricity doubling, and gas more than doubling.
They’ve been able to take my credit into account, and the £400 fuel payment coming in October and although originally they were going to double the DD, after a conversation where they looked at my actual usage, and chatted through some changes we’ve made over the last year, the DD is now only £50ish more a month.
Do give them a call, they are so incredibly helpful.

@NorthFaceofthelaundrypile

Thanks for this ,so helpful!!

That’s good to know @NorthFaceofthelaundrypile . I do like them. I get a winter fuel payment because of our circumstances but I missed the application cut off this year so they sent me a £30 high street voucher as a goodwill gesture. Good of them, since it was my delay.

No way am I fixing at the rates offered.
I will stay on the variable rate for now and treat is as a short term fix

Brilliant, thanks @NorthFaceofthelaundrypile

Has anyone been able to get a Smart meter via Octopus? I've registered but heard nothing about timescales etc.

They came to fit mine but the new meter kept tripping my consumer unit so they put the old ones back in place

I got mine fitted last month @Londono - SE London.

I've looked at the fixed deals and considering I would have to pay more than twice what I pay now they don't seem very good!

Rates aren’t expected to go up by 250% are they? Unless they are why consider a fix? I don't know why people are giving them extra credit either. Why not put it in a bank to earn interest?

Do you work for them?🤔

For me, paying a little extra during the summer (not loads) means I might buy myself a little buffer for the winter. I could keep it in the bank but this way, it is potentially one less big bill to deal with.

We have been on a fixed tariff for electric car owner which ends in 3 weeks. I’m moving to another fixed for electric car owners which isn’t their best EV rate but means that we get 4 hours of very cheap electricity overnight. So will try and time everything to go on (dishwasher, washing machine, chargers for phones and laptops as well as car) to be on between 12:30 and 4:30. No exit fees to move if things change.

You could get the same “buffer” by putting the extra money in a building society account and earn interest. Why give it to them so they can earn the interest with it, especially given the fact that any company that goes under will take the credit with them?

Because this is how I prefer to do it and any interest wouldn't be more than pennies. The reduced admin time is worth that to me.

@dianthus101 - no, but I’ve always been consistently impressed with them.
the last time I called them, because I wanted to get some of my credit refunded to me, I was on the phone for a total of three minutes from calling to hanging up.

Re. Smart metres the person I spoke to today advised calling on a Wednesday or Thursday to book - I’d explained that I work term times, and he said those are the days they do the schedules.

*meters

We fixed with Octopus in May and went for a tariff with no exit fees which seemed sensible. If they go down LOL or we need to move for some other reason then we can exit with no fees. I dont think they will be going and think we'll be happy we fixed. Worth looking at the exit fees as if its 0 or very low might be worth it.