New Octopus Switchers / Energy Crisis

[interbear]

Being a cautious chap these days I've just given up the last month on ye olde Octopus Go (5p/14p fixed until October) and signed up for the existing Go version... in case it disappears in a few days. Even though it's hugely expensive in comparison to previous Go it works out a lot cheaper than standard rate (based on last month's usage I would be £130 better off each month on new Go as against standard rate) and is fixed for a year so should protect me from the further expected rises.

I did exactly the same last week. Wanted to lock in the 40p unit cost for the next 12 months as every other tariff, including flexible with the cap, will undoubtably be higher. Especially after the next increase.

My bigger risk is gas, currently on Octopus flexible and the fixed rates seem to be much higher than the cap (my current tariff is 7.6p per unit but the new cap is 15p).

 

[Adopado]

I did exactly the same last week. Wanted to lock in the 40p unit cost for the next 12 months as every other tariff, including flexible with the cap, will undoubtably be higher. Especially after the next increase.

Cap will be about 52p. On Go my averaged use between cheap rate (7.5p) and day rate (40p) should come out between 20p and 24p per kWh, which is worth having. (I use a broadly similar amount of electricity in car as in house.)

 

[JDubya67]

Hi all, looking to try and switch to IO but will have to choose an interim tariff as no smart meter. Interim tariff will be far higher than current supplier. What's people's rough timescales from smart meter request to install with octopus? Cheers

 

[scdoubleu]

Our Go package (7.5p/30p) expires end of Jan '23. Definitely going to jump to the current Go next week on the assumption the off-peak rate will increase (in either Oct or Jan). We hardly use any peak rate for 9 months of the year thanks to Solar+Powerwall, so it would seem to make sense to lock-in the current off-peak rate for another 12 months.

 

[robmcm]

Hi all, looking to try and switch to IO but will have to choose an interim tariff as no smart meter. Interim tariff will be far higher than current supplier. What's people's rough timescales from smart meter request to install with octopus? Cheers

I’m in the same boat, was advised to sign up to Go (no exit fee) and then see if IO is still attractive once I have the meter and car (probably won’t be). Guy in the phone said you get prioritised for a SMeter if waiting to switch but generally depends on your area

 

[JDubya67]

I’m in the same boat, was advised to sign up to Go (no exit fee) and then see if IO is still attractive once I have the meter and car (probably won’t be). Guy in the phone said you get prioritised for a SMeter if waiting to switch but generally depends on your area

Indeed! Thank you. Will speak to them Monday and see what's what!

 

[yessuz]

My IO is fixed till end of Feb 2023.

Will be crying next year, it seems.

Time to save for a battery pack and inverter I think

 

[Tony Hoyle]

My Go is fixed until November, then potentially my costs more than double.

 

[MattM76]

My Go is fixed until November, then potentially my costs more than double.

Come off it and re join.

 

[Chanser]

I'm on that cheap Go rate until January, I'm in two minds whether to switch to IO or not.

 

[doats1]

My IO is fixed till end of Feb 2023.

Will be crying next year, it seems.

Time to save for a battery pack and inverter I think

I’ve just ordered a hybrid inverter and I’m waiting for some lithium battery packs to come in stock.

 

[mr_rxn]

New to UK earlier this year, have been using E.ON Next flexible tariff by default and trying to understad everything amid this chaos. I would be grateful if someone can confirm or correct me.

I just have a smart meter installed by E.ON Next today, and going to collect my MY in late September.
So I should just call Octopus to switch to their Go fixed tariff if they will take me, and lock-in the 40p/7.5p rate for 1 year?
Let say if miracle happens and the cap drops back down within 1 year, I should be free to switch back to flexible tariff of whatever supplier as Octopus Go has no exit fee?

Thanks!

 

[Tony Hoyle]

There's no exit fee with Octopus. Worth gettting because the overnight rate is ideal for charging.

 

[Tonybvi]

With apologies to all you Octopus promoters but I have no intention of switching yet. Here are my fixed tariff rates until April 2024 (that’s right another 20 months!). Unfortunately this is no longer available, even to existing customers. Sorry about this but I’m feeling slightly smug!

 

[JDubya67]

New to UK earlier this year, have been using E.ON Next flexible tariff by default and trying to understad everything amid this chaos. I would be grateful if someone can confirm or correct me.

I just have a smart meter installed by E.ON Next today, and going to collect my MY in late September.
So I should just call Octopus to switch to their Go fixed tariff if they will take me, and lock-in the 40p/7.5p rate for 1 year?
Let say if miracle happens and the cap drops back down within 1 year, I should be free to switch back to flexible tariff of whatever supplier as Octopus Go has no exit fee?

Thanks!

If it was me then intelligent octopus tariff. 6 hours of 7.5 and you have the smart meter already installed so I presume switch over would be reasonably quick!

I can't see that miracle happening!

 

[ACarneiro]

With apologies to all you Octopus promoters but I have no intention of switching yet. Here are my fixed tariff rates until April 2024 (that’s right another 20 months!). Unfortunately this is no longer available, even to existing customers. Sorry about this but I’m feeling slightly smug!

View attachment 845556

You, Sir, are one lucky so-and-so

 

[mr_rxn]

If it was me then intelligent octopus tariff. 6 hours of 7.5 and you have the smart meter already installed so I presume switch over would be reasonably quick!

I can't see that miracle happening!

I just tried to sign up Intelligent Octopus via their website, but I need to choose an interim tariff at 72.87p /kWh as I am a new customer?!
Or I can call them and ask for Flexible as interim?

Can I be sure that when they finally switch me over to Intelligent Octopus, I will be locked into 40/7.5p, instead of the new price they come up with at that time?

I come from a place with a single supplier, this is all new to me at a really bad timing! Thanks to everyone!

 

[JDubya67]

I just tried to sign up Intelligent Octopus via their website, but I need to choose an interim tariff at 72.87p /kWh as I am a new customer?!
Or I can call them and ask for Flexible as interim?

Can I be sure that when they finally switch me over to Intelligent Octopus, I will be locked into 40/7.5p, instead of the new price they come up with at that time?

I come from a place with a single supplier, this is all new to me at a really bad timing! Thanks to everyone!

You will have to call them to be sure. Others can clarify but I think the interim tariff is while they connect to your smart meter which normally takes 14 days. I would hope your IO price, confirmed on the call and presumably backed up in writing, will be held. If the flexible is available this would be a better bet short term.

I'm in a similar position to you but without a smart meter, so you are ahead of the game! I will look to join interim flexible and hope I can have an installation date confirmed relatively soon.

 

[Warp9lecy]

I just tried to sign up Intelligent Octopus via their website, but I need to choose an interim tariff at 72.87p /kWh as I am a new customer?!
Or I can call them and ask for Flexible as interim?

Can I be sure that when they finally switch me over to Intelligent Octopus, I will be locked into 40/7.5p, instead of the new price they come up with at that time?

I come from a place with a single supplier, this is all new to me at a really bad timing! Thanks to everyone!

I have same figure but words interim tariff is not mentioned. I think 75p KW is the tariff.

 

[mr_rxn]

You will have to call them to be sure. Others can clarify but I think the interim tariff is while they connect to your smart meter which normally takes 14 days. I would hope your IO price, confirmed on the call and presumably backed up in writing, will be held. If the flexible is available this would be a better bet short term.

I'm in a similar position to you but without a smart meter, so you are ahead of the game! I will look to join interim flexible and hope I can have an installation date confirmed relatively soon.

I got nothing confirmed yet, as I am just start looking into this matter today, and the 40/7.5p tariff is what their website quote for my region only, instead of my personalised quote.

I will call them first thing next week. Hope it is not too late.

Thanks!