New Octopus tariff

Rolfe

Moderator
Joined
Apr 10, 2023
Messages
11,376
Reaction score
13,085
Points
3,902
Location
West Linton, Scotland
Driving
MG4
I woke up this morning to a message in my Octopus app - "You're missing out on our cheapest tariff. Fix your prices with no exit fees by midnight Friday."

So I click on that and it just says that this offer is "cheapest price out of all the big suppliers, locked in for 12 months, with no exit fees." No more details. So I click on "Change my tariff" to get more information.

Two options. "Octopus 12M Fixed" locks in my unit rates and standing charges for 12 months. The only information is an estimated spend of £160.84 per month.
"Flexible Octopus" is the other one, with an estimated spend of £161.06 per month.

I think I'm seeing that the first one is 24.5p/unit with a standing charge of 53.3p/day whereas the second is 24.53p/unit. Currently I'm on 27.22p/unit and 54.41p/day standing charge, but of course I don't pay that, nearly all my usage is at the 7p/unit overnight rate. I don't see a dicky-bird about an overnight rate in this calculation.

My actual spend is £60-£70 a month, roughly. Nowhere near the £160 they're talking about. And of course a fair whack of what I import (at 7p/unit) is promptly sold back to them for 15p/unit anyway.

This offer looks completely useless to me, why are they punting it at me? Am I missing something?
 
I woke up this morning to a message in my Octopus app - "You're missing out on our cheapest tariff. Fix your prices with no exit fees by midnight Friday."

So I click on that and it just says that this offer is "cheapest price out of all the big suppliers, locked in for 12 months, with no exit fees." No more details. So I click on "Change my tariff" to get more information.

Two options. "Octopus 12M Fixed" locks in my unit rates and standing charges for 12 months. The only information is an estimated spend of £160.84 per month.
"Flexible Octopus" is the other one, with an estimated spend of £161.06 per month.

I think I'm seeing that the first one is 24.5p/unit with a standing charge of 53.3p/day whereas the second is 24.53p/unit. Currently I'm on 27.22p/unit and 54.41p/day standing charge, but of course I don't pay that, nearly all my usage is at the 7p/unit overnight rate. I don't see a dicky-bird about an overnight rate in this calculation.

My actual spend is £60-£70 a month, roughly. Nowhere near the £160 they're talking about. And of course a fair whack of what I import (at 7p/unit) is promptly sold back to them for 15p/unit anyway.

This offer looks completely useless to me, why are they punting it at me? Am I missing something?
I had the same 'offer' pop up a few weeks ago, and came to the same conclusion - not meant for us.
 
I think it only works if like me you are not able to take advantage of the 7p tariff.
London flat no home charger and more importantly low millage user.
 
Thanks for that. I thought it was pretty weird that they seemed to be assuming that my monthly bill was around £160 when it's actually around £60. They need to fix their IT to stop non-applicable offers being shown to customers.
 
Support us by becoming a Premium Member

Latest MG EVs video

First Look: MG IM5 & IM6 – Premium EV Saloon & SUV Unveiled at Goodwood!
Subscribe to our YouTube channel
Back
Top Bottom