Octopus Energy - Sharing my Prices and thoughts - January 2023 onwards…

I have just switched my electricity supplier to Octopus in anticipation of taking delivery of my MG ZS EV (hopefully next week) and because my electricity previous tariff had expired which increased the price I was paying. They have a new customer referral scheme where if an existing customer refers a new customer, both existing and new customers gets £50 back (I assume this is added as a credit against the next bill). I signed up without inputting a referral code but it has asked me if I want to enter one now.

If any existing Octopus customer wants to refer me so that we can each get the credit, please feel free to send me your referral code (clearly first come, first served!)

Likewise, if anyone is switching to Octopus, please feel free to use the referral link below to get your £50 credit (and get me credit too!)

[ Moderator: Referral code redacted. Allowed only in signatures. ]

Apologies if there is another thread covering this. I couldn’t find one, just some mentions of the referral scheme in some posts from last year.
I am also awaiting delivery of a ZS in the next 3/4 weeks. How easy was it to get switched over to Octopus and what rates are they offering (I think I have seen 40p peak and 10/12p off peak)
 
You need a smart meter - if not they can fit one foc in most cases. The standard Go tariff has slight postcode variations (you can enter your postcode on the octopus website) but is around 12p 00.30-04.30 and 42p outside that.
 
I am also awaiting delivery of a ZS in the next 3/4 weeks. How easy was it to get switched over to Octopus and what rates are they offering (I think I have seen 40p peak and 10/12p off peak)
Switching over was really easy (my previous fixed price tariff had just expired, so I wasn’t tied into any contract with my last provider). When you first switch across, they initially put you onto their standard fixed rate tariff which was only marginally cheaper than the default tariff that my previous provider put me on when my fixed rate tariff expired. Once you are set up with Octopus and you have sent them your starting meter reading, they can then move you onto their Octopus Go tariff, which is the one which gives you cheaper electricity from 0030-0430 in the morning. I plan to set up my charger to charge my car during these hours.

Assuming that you are not locked into a contract with your existing provide, switching is really easy. All you do is go onto the Octopus website and sign up to them and they deal with the switch over and tell your existing provider that you are leaving. You then get an email from your existing provider telling you what your final bill is and that is it. I think it took about three days for the switch to be complete and I didn’t loose my electricity supply or anything like that.

You don’t need a referral code to switch across but (as I mentioned above) if you do, you get £50 off your next bill, as does the person who referred you. I’ll PM you a referral code if you want to use it, you just add it were it asks for it (apparently we can’t post them publicly here). Edited to add: Referral code now in my signature below.

Hope that helps.

Edited to add:

The Octopus standard tariff they put you on when you first switch across is 34.23p per KWh at all times and a 42.77p daily charge. The Octopus Go tariff which you move to once you are set up is 43.37p per KWh from 0430 in the morning to half past midnight and then 12p per KWh from 0030-0430 and a 42.86p daily charge. Depending on your usage you may find their standard tariff cheaper but my calculations (based on the mileage I plan to do) indicates that the Go tariff will be a bit cheaper for me.

If you have a compatible charger (I don’t), you can go onto the Intelligent Octopus tariff which gives you electricity at 43.37p per KWh between 0530-2330 and then 10p per KWh between 2330-0530. Apparently they are adding chargers to the compatibility list and if/when they add mine, I will move to this tariff. There doesn‘t seem to be a penalty or charge for moving between tariffs.

NB, the prices above are as at today. I don’t have a feel yet for how they fluctuate with the cost of energy (presumably about the same as with other providers).
 
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You need a smart meter - if not they can fit one foc in most cases. The standard Go tariff has slight postcode variations (you can enter your postcode on the octopus website) but is around 12p 00.30-04.30 and 42p outside that.
The variations are due to the different DUoS (Distribution Use of System) charges the DNOs charge.
 
I have another charge pricing quandary

I have been using my new ZS for about two months now
I have also just had solar panels installed

Octopus only allows you to have one or other tariff ie if I use the cheap night tariff they do not pay for any excess charge that the panels produce and vice versa

Does anybody know of any utility company that would allow me to sign up to both tariffs - it will fall me to give them anything for free!
You should be able to sign up for smart export guarantee, either with the same supplier or another. You’ll get less than their standard export tariffs but you’ll get something. You can’t get paid more by octopus for export than they charge you for cheap imports.
 
You need a smart meter - if not they can fit one foc in most cases. The standard Go tariff has slight postcode variations (you can enter your postcode on the octopus website) but is around 12p 00.30-04.30 and 42p outside that.
I already have a smart meter but do I need a specific economy 7 type meter (my current provider Shell said I needed one)
 
I already have a smart meter but do I need a specific economy 7 type meter (my current provider Shell said I needed one)

No, any smart meter capable of reporting in half hour periods (nearly all of them) should be acceptable. There's a minor issue regarding communication and effectively bringing Gen 1 up to Gen 2 communications so that they can transfer to a new supplier but that should have already been done.
 
As you say there are postcode variances I'm on octopus intelligent and currently pay 10p from 2330-0530krs and 39.54p the rest of the time
 
Mine is 10p and 41.64p

It is worth keeping your EV plugged in during the day though if you can. You seem to get pockets of cheaper rate during the day if you do - which is obviously for the whole home as well.
 
I'm still on Go (till June IIRC) at 7.5p/33p but now have an OHME charger with a view to switching to Intelligent when the time comes.

I wonder when retail fuel prices will start dropping like wholesale have? I know and understand the arguments why the change isn't immediate but I think wholesale gas is now cheaper than before the war began. It always seems to me that the prices seem to go up quickly but lag in coming down!!

I also wonder if when commercial prices drop back by even 50% of what they've risen by, whether we'll see falls in the prices of other foods which ahev rocketed to the consumer.
 
Even if the price of gas and electricity reduce to previous levels, one thing you can be sure of, is that the daily standing charge (which almost doubled for electricity), will remain at that price. I emailed my electricity supplier for an explanation last year when the massive increase appeared, but their response was less than satisfactory, imho.

I am sure we have all done our best to reduce consumption, but we cannot avoid the huge standing charges.
 
I'm still on Go (till June IIRC) at 7.5p/33p but now have an OHME charger with a view to switching to Intelligent when the time comes.

I wonder when retail fuel prices will start dropping like wholesale have? I know and understand the arguments why the change isn't immediate but I think wholesale gas is now cheaper than before the war began. It always seems to me that the prices seem to go up quickly but lag in coming down!!

I also wonder if when commercial prices drop back by even 50% of what they've risen by, whether we'll see falls in the prices of other foods which ahev rocketed to the consumer.
I think in your heart that you already know the answer to these questions.
 
Sadly, I think I do.

The increased standing charges were, I understood, largely to do with the costs of company failures (Bulb etc), so presumably those costs will drop out sooner or later.

Yours faithfully,
The Eternal Optimist
:)
 
Sadly, I think I do.

The increased standing charges were, I understood, largely to do with the costs of company failures (Bulb etc), so presumably those costs will drop out sooner or later.

Yours faithfully,
The Eternal Optimist
:)
They were also due to Ofgem changes to regional costs: basically if you live in a region where the distribution network is expensive to maintain, like I do, you pay a lot more. Our standing charges both more than doubled to over 50p/day.
 
They were also due to Ofgem changes to regional costs: basically if you live in a region where the distribution network is expensive to maintain, like I do, you pay a lot more. Our standing charges both more than doubled to over 50p/day.
That's pretty expensive, I live in a rural part of Scotland and we are 46 or 47p
 
Just some food for thought, octopus tracker is around 23p/kWh at the moment and has been for a while now. That's obviously significantly cheaper than the go / intelligent Octopus daytime rate and it might end up being cheeper on average and 23p/kWh still works out pretty cheap to fully charge an EV compared to the price of petrol (around £15 for a full charge).
 
Just some food for thought, octopus tracker is around 23p/kWh at the moment and has been for a while now. That's obviously significantly cheaper than the go / intelligent Octopus daytime rate and it might end up being cheeper on average and 23p/kWh still works out pretty cheap to fully charge an EV compared to the price of petrol (around £15 for a full charge).
Is that 23p / kwh at all times? I currently have a fixed rate with BG at 18p / kwh which ends on July 31st thus year. I'd go for a rate at 23p / kwh at all times as a replacement. I don't do enough miles to make a go / economy 7 type set up worthwhile.
 
The tracker potentially moves around and has no cap I believe. Also is it true that it doesn't get the govt subsidy (which is unlikely to apply after March anyway isn't it?). I'm on their gas tracker and currently paying about 6.2p per unit.

I'm maybe wishfully thinking that given how wholesale fuel prices are on their way down, and how the majors have been shown up to be making humungous profits, we might not see a rise and maybe will see even a small drop when the next price cap announcement happens. :)
 
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Currently a six month waiting list to get on tracker, octopus are taking 50 customers a day, apparently.
It does have the potential to go really high but hasn't for a while
 
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