Octopus Go vs Standard Variable Rate after price cap increase

[Zilla91]

I’ve just had a look at what the SVR will be after the cap is increased in April and it looks like a bit of a no brainier in getting onto Octopus Go

SVR
£0.28 per KWh
Daily standing charge: £0.45

Octopus Go
29.64p per KWh (peak)
7.50p per KWh (off peak)
Daily standard charge: 26.45p

I should probably get my skates on and move from British Gas before my car arrives in March so I can get onto it ASAP. Hopefully they won’t bump up the price before then…

 

[PITA]

I wonder what all those Heat Pump converts are thinking right now?

 

[Bernard_S]

I wonder what all those Heat Pump converts are thinking right now?

They are thinking, must get some batteries.

 

[PITA]

They are thinking, must get some batteries.

Yes, absolutely.

They go hand in hand perfectly...

 

[s7gpt]

is the octopus offer fixed for a period of time once signed up ie 12 months ?

 

[Xdama]

is the octopus offer fixed for a period of time once signed up ie 12 months ?

The previous Octopus deal there was no tie in period, so doubt there will be with this one. Their CEO says they’re running it as a loss leader to get EV uptake up.

 

[browellm]

The previous Octopus deal there was no tie in period, so doubt there will be with this one. Their CEO says they’re running it as a loss leader to get EV uptake up.

You get the best of both worlds really. The rates are guaranteed for 12 months, but there's no exit penalty.

 

[Dilly]

is the octopus offer fixed for a period of time once signed up ie 12 months ?

I signed up in November 2018. My tariff rolled over to the same rate last November.

 

[Yachtsman]

I signed up in November 2018. My tariff rolled over to the same rate last November.

I signed in October 2020 & it rolled on at the same rate until October this year.

 

[Fred2]

I wonder what all those Heat Pump converts are thinking right now?

That the price of electricity is proportionately up less than gas maybe ? (+34% vs +81% for the per kWh cost under the cap. ). Or in my case up less than the price of hearing oil.

 

[Irata]

I'm eagerly keen to hear what's happening to Go customers whose term ends over the coming weeks/months.

At what point does the previous rate stop rolling over, we already know those previously rolled over, but what about those coming up next.

 

[PITA]

I'm eagerly keen to hear what's happening to Go customers whose term ends over the coming weeks/months.

At what point does the previous rate stop rolling over, we already know those previously rolled over, but what about those coming up next.

I think the new rates start from 4th January 2022

So if your previous Go Rate renewed before this date, then you're on the old rate.

If you renew after this date, I think you're on the new rate

 

[Yachtsman]

I'm eagerly keen to hear what's happening to Go customers whose term ends over the coming weeks/months.

At what point does the previous rate stop rolling over, we already know those previously rolled over, but what about those coming up next.

I’ve been notified that mine goes to 7.5p & 30.7p in October this year but I will have enjoyed 2 years at the lower rate.

 

[Irata]

I think the new rates start from 4th January 2022

So if your previous Go Rate renewed before this date, then you're on the old rate.

If you renew after this date, I think you're on the new rate

We already had posts from people beyond that date who rolled again into the old rates.

 

[browellm]

We already had posts from people beyond that date who rolled again into the old rates.

Octopus confirmed they were anomalies (and would be honoured).

 

[Irata]

Octopus confirmed they were anomalies (and would be honoured).

Exactly, so when did the anomalies stop.

Not seen evidence of any specific date yet.

 

[spdpsba]

I'm eagerly keen to hear what's happening to Go customers whose term ends over the coming weeks/months.

At what point does the previous rate stop rolling over, we already know those previously rolled over, but what about those coming up next.

Mine comes up on the 8th Feb. I was told I’ll be on the same rate for electricity till Oct 22 but the gas rate they asked me to choose a different tariff from 8th Feb.

 

[Irata]

Mine comes up on the 8th Feb. I was told I’ll be on the same rate for electricity till Oct 22 but the gas rate they asked me to choose a different tariff from 8th Feb.

Thank you.

It proves something is still going on with octopus rolling the old rates forward until October.

It will be interesting to discover when we stop seeing this. I suspect it's a system issue.

 

[browellm]

Exactly, so when did the anomalies stop.

Not seem evidence of any specific date yet.

Maybe the anomalies haven't completely.

As to the date they publicly acknowledged it - it's on the Octupus forum, but the date isn't important. Just that they have.

 

[Irata]

Maybe they haven't completely. As to the date they publicly acknowledged it - it's on the Octupus forum, but the date isn't important. Just that they have.

Yep.

I'm keen to hear, going forward, when someone doesn't get an extension on the old rates.