Energy Prices (Strictly NO referrals!)

EON are offering me:

Gas
Std charge 31.3p
Unit charge 5.62p

Elec
Std charge 64.28p
Unit charge 21.65p

I live down Sarf. Pretty much identical to what my current rates are. Octopus are no cheaper, unit rate slightly higher and standing charge slightly lower. Only thing with Octopus is the £0 exit fee. Eon has a £50 exit fee to change supplier. I could change tariff I assume within Eon at no extra charge, so could drop back onto flexi if the rates dropped. I assume sign in now is the thing to do as it'll save me 10% - 15% on my bill price over the expensive months that are coming.
 
Still can't get a refund from Octopus as they say they are missing a reading. What the hell are smart meters for then? Anyway I did a manual reading and what Octopus thought it was and what it actually is is a whole months worth of electric short, in other words I have used more than they estimated. Again, what the hell are smart meters for if they can't do the job they were designed to do? Good job I am almost a grand in credit as I will be getting another bill now. It will be interesting to see how they split it between the cheap and peak rate, no doubt 90% on the peak rate.
 
Stupid question, but do current fixed price deals factor tomorrow's price cap increase i.e. the deals will remain unchanged until next week?

I'm about to refer and fix my parents on Octopus 15m fixed, moving from Scottish Power. They have £350 balance with SP, which they today requested them transfer to their bank account. Ideally we'd like that payment to clear, before making the switch, just to avoid the risk of that balance getting lost somewhere during the process. I'm assuming it'll be done this week, and they can make the switch at the weekend. But worried deals will disappear/get worse overnight - is that unfounded?
 
pastymuncher said:
Still can't get a refund from Octopus as they say they are missing a reading. What the hell are smart meters for then? Anyway I did a manual reading and what Octopus thought it was and what it actually is is a whole months worth of electric short, in other words I have used more than they estimated. Again, what the hell are smart meters for if they can't do the job they were designed to do? Good job I am almost a grand in credit as I will be getting another bill now. It will be interesting to see how they split it between the cheap and peak rate, no doubt 90% on the peak rate.
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It’s strange isn’t it. They constantly send people my way to get a manual reading, I tell them to go away and I’ve been manually submitting the readings.. asked them what the problem is and they say there’s no issue, we get your readings all good etc.

It’s been 3 months since they’ve billed me for electricity lol. I give up.
 
DB_SamX said:
Stupid question, but do current fixed price deals factor tomorrow's price cap increase i.e. the deals will remain unchanged until next week?

I'm about to refer and fix my parents on Octopus 15m fixed, moving from Scottish Power. They have £350 balance with SP, which they today requested them transfer to their bank account. Ideally we'd like that payment to clear, before making the switch, just to avoid the risk of that balance getting lost somewhere during the process. I'm assuming it'll be done this week, and they can make the switch at the weekend. But worried deals will disappear/get worse overnight - is that unfounded?
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As the cap is changing I'd expect the tariffs too as well.
 
Gixer said:
As the cap is changing I'd expect the tariffs too as well.
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The cap was announced weeks ago, energy companies would have known what the cap was going to be weeks before that.

These deals are not based on the price cap and they are going to disappear overnight unless they sell out or the underlying market fundamentals change.

Don't forget the CAP is backwards looking at forward purchases, these deals are based real time forward purchases.
 
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nothing in it

image-2024-09-30-233150538.png
 
DB_SamX said:
Stupid question, but do current fixed price deals factor tomorrow's price cap increase i.e. the deals will remain unchanged until next week?

I'm about to refer and fix my parents on Octopus 15m fixed, moving from Scottish Power. They have £350 balance with SP, which they today requested them transfer to their bank account. Ideally we'd like that payment to clear, before making the switch, just to avoid the risk of that balance getting lost somewhere during the process. I'm assuming it'll be done this week, and they can make the switch at the weekend. But worried deals will disappear/get worse overnight - is that unfounded?
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Nm, decided to make the switch just now.
 
BEFORE
Starts from 12:00 AM, 1st Jul 2024
Electricity
Day rate 24.45p per kWh
Night rate 8.50p per kWh
Standing charge 54.83p per day

AFTER
Day rate 26.77p/kWh
Night rate 8.5p/kWh
Standing charge 55.79p/day

Octopus Go - Night rate hasn't gone up, day rate has slightly as has the standing charge
 
I swapped from Octopus Flux to Octopus Go last week.
My rates are slightly higher, including the standing charge:
00:00 - 00:30 @ 26.87p/kWh
00:30 - 05:30 @ 8.5p/kWh
05:30 - 00:30 @ 26.87p/kWh
Standing Charge: 65.84p/day
 
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Nathan said:
Im just looking into this too. On the fence, tracker has been good to me.
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Tracker has been good for me as well. Checked every few weeks to see how it’s been doing. Going to start keeping a closer eye on daily rates to see if it’s going to be better to jump to fixed at some point.
 
Kill_Phil said:
The whole shenanigans in the middle east is surely gonna whack this up... tempted to jump onto a fixed
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yes I've just done that to octopus 12month offer , for that reason - first change from variable in 10 years, maybe push the boat out and get a smart meter too
the 15month fixed offer, perhaps expired at start Oct.


Flexible Octopus
Ending 03/10/2024
6.16p/kWh29.38p/da
25.21p/kWh48.79p/day

12month
Electricity
Unit price 23.27p per kWh
Standing charge 48.79p per day
Gas
Unit price 5.38p per kWh
Standing charge 29.38p per day


(octopus billing system, perhaps because I only submit 4 a year seems confusing -
they credit earlier monthly payments on your account, with no explanation, and then calculate bill over 3 months, up to newly submitted reading, bunch of idiots )
 
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