That's the dilemma. The prices available in January are expected to be even worse than this new October. For me the decision was easier because I only had to give up one month because my fix was to end in October. Maybe there will be government protections brought in and you are better sticking it out ... it's a coin toss IMHO.
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New Octopus Switchers / Energy Crisis
- Thread starter MattM76
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That's the dilemma. The prices available in January are expected to be even worse than this new October. For me the decision was easier because I only had to give up one month because my fix was to end in October. Maybe there will be government protections brought in and you are better sticking it out ... it's a coin toss IMHO.
I did post this yesterday (wrong thread) If anyone would like to know the cost comparison from GoFaster (or any other) vs price caps, I created a small formula below. I can plonk your energy numbers in should you wish. Car kWh is rough, give or take with driving styles.
Everyone's usage is different of course, but to get the gist. This doesnt include shifting house load to off peak (which would make it cheaper).
I hope this helps.
Ignore reference to battery! I have another to work out ROI in battery's vs tariffs lol.
8.25p
7.5p
Everyone's usage is different of course, but to get the gist. This doesnt include shifting house load to off peak (which would make it cheaper).
I hope this helps.
Ignore reference to battery! I have another to work out ROI in battery's vs tariffs lol.
8.25p
7.5p
ACarneiro
Active Member
I would expect government protections to apply only to SVR, so I suspect that for the near term Go and Go Faster are only going to go up…
Its in the Terms that you do.
The Terms and Conditions of Agile Octopus, Cosy Octopus, Octopus Go, and Octopus Go Green, and Octopus Flux
The Agile Octopus, Cosy Octopus, Octopus Flux, Octopus Go, and Octopus Go Green tariffs are uniquely innovative products of our labs, and available now to customers through our beta programme.
octopus.energy
are you able to share the Excel/google sheet at all? Got a friend not on here getting a Y in Sept and they are trying to work out what to do supplier wise.
Correct. The "cap" does not apply to fixed tariffs, hence Go/GoFaster/IO charging above the cap for peak rates.
Get in now if you can and lock in current prices. I "sacrificed" the couple of months that i had left in my Go Faster tariff (was due to expire in September) to lock in 39.25/7.5 on IO
ACarneiro
Active Member
Oh, I renewed my Go Faster in June for 8.25/35.05 (or something like that).
I’m hoping things will be a tad more settled by the time I come to renew again in June 2023…
I’m hoping things will be a tad more settled by the time I come to renew again in June 2023…
Exactly the same situation as me. The latest forecasts for next year from Cornwall Insights have got me seriously looking at ditching it now.
Unless I’ve completely ballsed up my workings, or Octupus and/or our illustrious leaders have some rabbits to pull out of a hat, I reckon the Octopus Inteliigent prices could be in the order of 110-130p peak and 20p off peak by the time Go Faster expires in Feb.
For me, i reckon switching now could save ~£900 up to Sep ‘23 and ~ £1400 up to Feb ‘24.
All heavily based on guesstimates of course, and just ignoring the potential for any meaningful interventions that affect unit rates and would even apply to higher income households.
I too would like to know if it is worth the call. I have uncommissioned Smart meters, so likely need either meter replacements or a beefed-up aerial to allow the existing ones to talk to the IHD.
I recently switched to Octopus from BG for electricity with a view to moving onto the GO tariff. I gave them the reading from my smart meter and everything seemed to be going OK until I received a text yesterday saying that they will let me know when a smart meter can be fitted, which I didn't understand as I already had a meter that complies with SMETS1 as detailed on their website.
I gave them a call to query the text and it transpires that my meter can't provide half-hourly readings and whilst the text stated they were going to fit a new meter they said that they aren't allowed to as I already have a smart meter. Apparently my current meter can be adapted to give half-hourly readings but was told it can take up to six months for that to happen so I'm now in limbo having switched and no option to transfer my account to Octopus Go.
Pretty poor communication on their part during the initial transfer conversation about how great GO was. Not a happy bunny
I gave them a call to query the text and it transpires that my meter can't provide half-hourly readings and whilst the text stated they were going to fit a new meter they said that they aren't allowed to as I already have a smart meter. Apparently my current meter can be adapted to give half-hourly readings but was told it can take up to six months for that to happen so I'm now in limbo having switched and no option to transfer my account to Octopus Go.
Pretty poor communication on their part during the initial transfer conversation about how great GO was. Not a happy bunny
Yeah, I called yesterday, and made the switch no problem.
Gas and Electric. Could not move to Go until they receive the readings from my current provider in a couple of days, and cannot move to Intelligent Octopus until I have the car. but have moved to a variable which is:
Electric:
Variable 29.49p
Standing 41.39p /day
Gas:
Variable 7.32 kw
Standing 27.22p /day
Referral codes for me, @Darreno , @Mr Miserable and others are in our profiles!
(£50 credit to both sides)Who on earth would pay £50k+ to save money on fuel? Buy a leaf and use the extra money on leccy
Because all the projects currently built were built under those rules. Those who built them (and their investors) did so based on the rules. Changing the rules retrospectively will make it difficult for new projects to get investment as there is no certainty. The rules could be changes for new generation projects going forwards though
Called and switched. Referral for @Mr Miserable used. Didn't make sense paying 52p for charging the forthcoming EV. Hopefully will get the Go tariff and then the intelligent once the car comes.Yeah, I called yesterday, and made the switch no problem.
Gas and Electric. Could not move to Go until they receive the readings from my current provider in a couple of days, and cannot move to Intelligent Octopus until I have the car. but have moved to a variable which is:
Electric:
Variable 29.49p
Standing 41.39p /day
Gas:
Variable 7.32 kw
Standing 27.22p /day
Referral codes for me, @Darreno , @Mr Miserable and others are in our profiles!
bobbylodge
Member
I switched from OVO last week. All happened really quickly and without drama. I didn't have a smart meter but booked one through OVO for the next day as Octopus was saying they couldn't do it until October. So worth checking with existing supplier if you're thinking of switching.
Installation happened and I called Octopus the next day to change over. Went on to their SVR for a few days and then moved to the Intelligent tariff. So took about 1 week to get smart meter and move to Octopus Intelligent.
Checked today and I'd already saved £40 in a week compared to my OVO SVR tariff (which was actually little cheaper then Octopus).
Seems like Intelligent is only open to certain EVs but for me it's better than Go due to the 6 hour window.
So pleased to have locked in the rates for the next 12months but also that you're not locked into the tariff and can switch at anytime (if that would ever make sense).
My referal is in my profile if anyone wants to use it
Installation happened and I called Octopus the next day to change over. Went on to their SVR for a few days and then moved to the Intelligent tariff. So took about 1 week to get smart meter and move to Octopus Intelligent.
Checked today and I'd already saved £40 in a week compared to my OVO SVR tariff (which was actually little cheaper then Octopus).
Seems like Intelligent is only open to certain EVs but for me it's better than Go due to the 6 hour window.
So pleased to have locked in the rates for the next 12months but also that you're not locked into the tariff and can switch at anytime (if that would ever make sense).
My referal is in my profile if anyone wants to use it
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