Octopus Go Faster tariffs ……

[Deleted member 7171]

Listen to the podcast but in a nutshell the "price cap" is only now doing what it is designed to do. Because there are no cheap fixed rate tariffs around the defacto cheapest right now are the capped ones and because of this you will, by default, be put on your providers cheapest tariff - the capped one. Just take a look at the price comparison sites and see if you can get a tariff below the capped price, good luck.

The price cap is the reason so many smaller companies, and now a larger one (Bulb), have gone bust, because wholesale price is above the capped retail price. So the cap WILL be increased further in April, possibly by about another 40%, yes a whopping 40%. Hence, do nothing.

 

[Ozzie1989]

Unfortunately your meter cannot distinguish electrons from any particular supplier, as you are of course aware.
We are in the UK and therefore the the figures for the UK generation apply. The French have made much more use of nuclear power for donkeys years, but how much of that comes through the cable under the channel (when it's working !) is debatable.

You can see for yourself here:

National Grid: Live

Shows the live status of Great Britain’s electric power transmission network

grid.iamkate.com

Also if you want to swap ring Octopus as per the info on their Go page... Only applies to people with EVs though.

 

[Kithmo]

Is the government price cap the same as the cap OFGEM has allocated to the companies taking over defunct company's customers ?

 

[Deleted member 7171]

Is the government price cap the same as the cap OFGEM has allocated to the companies taking over defunct company's customers ?

The there is only one price cap. The Govt doesn't set it, it is set by OFGEM. OFGEM does allocate which "big" supplier takes over the customers of the bust one and it appears to be sharing these customers equally between the big companies.

If a supplier goes bust the company allocated to cover that supplier must put customers on the standard variable tariff which is usually the price capped rate. They cannot move customers on to anything more expensive than the price capped tariff.

 

[Ozzie1989]

I got moved from Avro to Octopus when they went bust and was put on these tarrifs:

Your prices (including VAT) are:
A standing charge of 24.86p per day and 20.99p/kWh for your electricity.
A standing charge of 26.11p per day and 4.13p/kWh for your gas.

 

[Kithmo]

I got moved from Avro to Octopus when they went bust and was put on these tarrifs:

Your prices (including VAT) are:
A standing charge of 24.86p per day and 20.99p/kWh for your electricity.
A standing charge of 26.11p per day and 4.13p/kWh for your gas.

They're the same rates as I got moving to BGas from Peoples energy.

 

[Lovemyev]

I got moved from Avro to Octopus when they went bust and was put on these tarrifs:

Your prices (including VAT) are:
A standing charge of 24.86p per day and 20.99p/kWh for your electricity.
A standing charge of 26.11p per day and 4.13p/kWh for your gas.

No smart meter installed yet then I guess ???.
With a SMES2 type smart meter installed, Octopus should be able to switch straight onto their "GO" tariff which offers cheaper off peak electric at around 5p / kwh between midnight and five A.M. in the morning.

 

[Deleted member 7171]

I got moved from Avro to Octopus when they went bust and was put on these tarrifs:

Your prices (including VAT) are:
A standing charge of 24.86p per day and 20.99p/kWh for your electricity.
A standing charge of 26.11p per day and 4.13p/kWh for your gas.

Now your with Octopus, and I presume you an EV owner, and if you have a smart meter already give them a call or drop them an email to enquire if they will move you to the GO tariff. It is only available to EV owners these days because it was being exploited (if that's really the right word) by people without EVs filling up their domestic battery storage on the cheap 5p rate. If you haven't got a smart meter they will fit you one.

If you haven't already, download their app too you can contact them through it.

 

[Ozzie1989]

I haven't got my MG5 yet so they won't move me over but they have put me on the list for smart meters yes!

 

[Gomev]

I got moved from Avro to Octopus when they went bust and was put on these tarrifs:

Your prices (including VAT) are:
A standing charge of 24.86p per day and 20.99p/kWh for your electricity.
A standing charge of 26.11p per day and 4.13p/kWh for your gas.

I got moved from Avro too, but my Octopus rates are slightly different. Odd why different areas have different rates

Mine are
A standing charge of 26.82p per day and 19.89p/kWh for electricity.
A standing charge of 26.11p per day and 3.94p/kWh for gas.

 

[Ozzie1989]

Compared to what some people are seeing I didn't feel too hard done by to be honest, but still a big jump from 3p for gas and 16.8p for electric!

 

[Kithmo]

I can't understand why different areas have different tariffs with the same supplier. If the tariff prices are based on wholesale prices then surely they should be the same wherever you live ?

 

[chowbenter]

Are we going to be in for more electricity price hikes with the news that France EDF who exports electricity to the UK has just closed down two nuclear power stations due to faults bringing the total to four nuclear power stations off line which has sent the wholesale prices to record highs. Europe’s energy crisis just got worse

 

[Alb]

I can't understand why different areas have different tariffs with the same supplier. If the tariff prices are based on wholesale prices then surely they should be the same wherever you live ?

Different areas may have different patterns of consumption. It's not just what you use but also when you use it.

 

[Alb]

Are we going to be in for more electricity price hikes with the news that France EDF who exports electricity to the UK has just closed down two nuclear power stations due to faults bringing the total to four nuclear power stations off line which has sent the wholesale prices to record highs. Europe’s energy crisis just got worse

Don't think I'd use the Russian government as an authoritative news source

 

[chowbenter]

Don't think I'd use the Russian government as an authoritative news source

It's a generic story on every news platform.

 

[Deleted member 3150]

If you try and use an Octopus referral link….. you get taken to a page stating

You need to know this ?​

Right now, energy prices are at record highs, and most homes will be better off staying with their current energy supplier for the winter.
If your fixed term is coming to an end, don't choose a new tariff or switch supplier.
Instead, let your supplier automatically move you to their default tariff, so your prices are protected by the Government's Energy Price Cap.
Would you like an email when prices fall?
Yes, please email me
I've read and understood the above, and I would still like a quote to switch to Octopus

 

[weedavemac]

How can you blame EDF for being French when all UK energy suppliers are at it? EDF don't care about fish or immigration, they care about making money.

No UK energy supplier, at the moment at least, is "at it". They are pretty much making a loss on every house they supply these days. That is why the likes of Octopus, and others, don't really want extra customers just now. And the big boys are taking a huge hit every time one of the smaller ones go bust and they are forced to take over the supply.

 

[defeatedbythecat]

I tried calling Octopus to switch just so I could get ahead on getting the smart meter ball rolling and their call centre staff were having none of it, didn't matter what angle I came from they refused to switch me.

Then I remembered I had had an email conversation with one of their staff back in August before all this kicked off where I told him that I intended to switch once I got to the end of my fixed tariff with British Gas.

Dropped him another email and because we'd already discussed it months before, they started the switch. All moved over as of a couple of days ago.

 

[Lovemyev]

And the big boys are taking a huge hit every time one of the smaller ones go bust and they are forced to take over the supply

I don’t believe the big boys are taking the hit directly, they are sending it to there other customers.
When the big boys take over the customers, they have to honour any debt or credit that the new customers had in their accounts already.
The big boys have taken over from their competitors and now are charging what they like.
Without any competition the big boys have us firmly over a barrel !.