Associate
Yes may as well stay on tracker over the summer![]()
On that link it says than on average people on agile actually paid more than people on the standard variable. So confused why everyone is jumping onto it like it's the best thing since sliced bread.Thanks I did as well. Why do you have to rely on google instead of having a link on your dashboard.
So the Octo transfer has been seamless. Previously taken two weeks to move across suppliers. These heroes have done it in 48 hours and already started billing on agile from yesterday!
No wonder the established "big six" are bricking it.
Because that's as an average over the last 12 months. However there's nothing stopping you from jumping between Agile and flexible as suits your needs. Unit cost average on Agile today was 17pOn that link it says than on average people on agile actually paid more than people on the standard variable. So confused why everyone is jumping onto it like it's the best thing since sliced bread.
Someone had a word with Ofgem? They officially reported it the actual rates instead of average annual cost for once.
Indeed the two are not even comparable.OFGEM really are a waste a space.
In my mind, an industry regulator serves two important purposes; protect and safeguard the industry its regulating but also protect the consumer ensuring best possible outcomes.
I work in the financial services industry and say what you like about the FCA, they do an alright job of both counts, especially when it comes to protecting the consumer. Their guidelines to firms are all around ensuring best possible outcomes for consumers and they've taken strong action against lots of lenders over the years.
I despair at OFGEM, I really do. The consumer really is an absolute after thought behind protecting the cartel of companies it regulates.
The new tariffs for tracker and agile no longer are fixed interestingly, so they can pull them at any given moment as well as changes to their t&c.Trackers are great in a falling market, not so much in a rising market.
Fortunately octopus let you switch every month and don’t have exit fees.
Indeed the two are not even comparable.
Consider e.g. the steps banks are required to do to even lend money to someone.
Then look at what's going on the energy sector, where we about to have a bad debt assurance built into the SC (effectively making energy suppliers a preferred creditor) as well as next to nothing being done about fixed direct debit balances that are largely deviated from actual bills (alongside doing no credit checks for people on fixed DD).
Then we have the supplier costs starting to be lumped onto SC now, which is driving it more and more away from its original purpose.
The cap was only added after government intervention from May's government, otherwise their remit seems largely to ensure there is competition in the market (in other worse to look after the vested interests of the suppliers to ensure they stay in or enter the UK market). This is based on the principle that if there is competition everything apparently takes care of itself. Which we are clearly seeing is not the case.
We had that statement that said they were going to isolate balances, and then after a very short period of time they backtracked, no consultation with the public and parliament, just a conversation with the suppliers and backtracked out of it.
A lot more of the Ofgem decisions need to be discussed in parliament and have public consultation.
I know with EDF i would have to pay my deficit before moving so you'll have to check with EON.Daft question but if I switch do I need to pay back eon my interest free 700 quid deficit? Or does it get transferred to octopus? Stuck in a cashflow trap lol!
On that link it says than on average people on agile actually paid more than people on the standard variable. So confused why everyone is jumping onto it like it's the best thing since sliced bread.