Octopus Prices Rise Again

[Ozzie1989]

Hi all, switched to Go when my car arrived a few weeks ago. Have been waiting for my first bill to arrive so I could switch to Go Faster, as I specifically wanted it to start at 09:30 to maximise the savings and offset the higher daily rate.

Unfortunately in that time the prices have risen, so decided to stick with my 00:30 - 04:30 Go rate now.

Details below:

 

[Lguk]

Oh wow.. 40p. I'm still paying 16p peak, this is going to sting next month when my renewal is up.

 

[Gomev]

In my area

Octopus Go July 2022 v1​

• Day unit rate:38.82 p/kWh

• Night unit rate:7.5 p/kWh
• Standing charge:48.26 p/day

Octopus Go Faster (5H from 0030) July 2022 v1​

(in fact all all variations)​

• Day unit rate:38.82 p/kWh

• Night unit rate:7.5 p/kWh
• Standing charge:48.26 p/day

Faster is the same as Go.

 

[Ozzie1989]

In my area

Octopus Go July 2022 v1​

• Day unit rate:38.82 p/kWh
• Night unit rate:7.5 p/kWh
• Standing charge:48.26 p/day

Octopus Go Faster (5H from 0030) July 2022 v1​

(in fact all all variations)​

• Day unit rate:38.82 p/kWh
• Night unit rate:7.5 p/kWh
• Standing charge:48.26 p/day

Faster is the same as Go.

Go faster 4h is the same price but Go faster 5h is more expensive off peak.

 

[Ozzie1989]

Oh wow.. 40p. I'm still paying 16p peak, this is going to sting next month when my renewal is up.

I totally feel for you, I was gutted when I went from 12p to the tracker rate through the demise of Avro Energy but glad we ended up with Octopus they've been great ?

 

[Gomev]

Go faster 4h is the same price but Go faster 5h is more expensive off peak.

View attachment 9663

Odd isn't it how the rates vary by area.

 

[Ozzie1989]

Odd isn't it how the rates vary by area.

Yeah, maybe your DNO has less overheads than mine or something, so their portion on top is smaller. Who knows? ??

 

[Lovemyev]

About 2 months ago I was offered a 18 month fixed rate deal by my present energy company EDF energy.
The “Off - Peak” was really cheap at 4.5p / KWh for 5 hours, from 1.00am until 6.00am but as we know, you get nothing for nothing, and the day rate ( at that time ) was really spiteful at massive 39p / Kwh’s.
That was WAY over the going rate at that time.
But after pondering ? over a while and with another predicted rise ( at that time ) of another 30% increase in Oct / Nov 22 I made a BIG gamble and decided to go for it !.
Well as we can see now, in only a few short months, how prices are still accelerating.
Now my spiteful day rate is becoming more the norm.
Also, the THEN predicted 30% increase due in Oct / Nov 22 is predicted to be more like another crazy 50 ( ish ) % increase !!!!.
The market is shifting SO fast, that what we though was expensive only a couple of months ago, is already out of touch price wise.
Over the last 20 years ( or more ) we have heated our domestic stored hot water ( through the summer period ) with a modern energy efficient gas boiler.
But now, this has become pretty much redundant due to the high price of gas.
Load shifting as much of our usage into that cheap rate Off - Peak rate as possible.
I never thought I would see a time, when heating hot water was cheaper using electric rather than gas !.

 

[Lguk]

I've had my renewal reminder now too. Offering 40p or 29p flexi.

Anyone know if they're letting new people join Agile? Its still listed as capped at 35p/kwh which is cheaper than the 40p on Go. All the other fixes that aren't Go are 50-60p a unit. I'm seeing no real risk in trying agile at this point as the max unit price is capped below the fixed rate.

Currently 99.9% of my charging is at work (excess solar, very green) so I'm not reliant on that 4 hour window to cover my commute energy usage at a reasonable rate.
I went to Go before I had the EV because it was 16p when everything else was 20p+

 

[Gomev]

I've had my renewal reminder now too. Offering 40p or 29p flexi.

Anyone know if they're letting new people join Agile? Its still listed as capped at 35p/kwh which is cheaper than the 40p on Go. All the other fixes that aren't Go are 50-60p a unit. I'm seeing no real risk in trying agile at this point as the max unit price is capped below the fixed rate.

Currently 99.9% of my charging is at work (excess solar, very green) so I'm not reliant on that 4 hour window to cover my commute energy usage at a reasonable rate.
I went to Go before I had the EV because it was 16p when everything else was 20p+

Remember that variable is going up another 65% in 3 months, so 40p might seem cheap then.

 

[Lovemyev]

Remember that variable is going up another 65% in 3 months, so 40p might seem cheap then.

Martin Lewis ( big fan ) has predicted another 3 - 4 % increase in Jan 2023.
He rarely gets it wrong !.
This quote is taken from his recent e.mail update yesterday, and so he writes.
It makes grim reading sorry folks !.

“Current cap: UP 54% on the prior one, so £1,971/yr for someone on 'typical use'.
1 Oct 22 - 31 Dec 22. Strong prediction: UP 65%, so £3,240/yr for 'typical use'. The prediction's strong, as this is based on wholesale prices from Feb to mid-Aug.
1 Jan 23 - 31 Mar 23. Prediction: UP 4%, so £3,360/yr for 'typical use'. Prediction accuracy is looser but ballpark.
1 Apr 23 - 30 Jun 23. Weak prediction: Previously this was thought to be when prices may drop, but currently that is less certain, or at least any price-fall will be small. So rates next April are still likely to be far higher than today”.

 

[Gomev]

Just had a look at the Octopus tariffs and spotted this, which has the same rates as Go (for my area). It doesn't specify how long the night rate is for though.

View attachment 9702

 

[Jomarkh]

Hi, I can't open your link?

 

[sky0000547]

My Octopus Go contract ended yesterday and a new Go contract started today with the new higher rates. Originally the contract should have ended in June but Octopus didn’t send me any renewal quote at the time, due to this delay they extended my contract by one month.

So the daily standing charge jumped from 25p to 48p and the day unit rate from 15p to 34p. The 4hr night unit rate like many now at 7.5p. These rates are from March 2022 so lucky I have missed the July 2022 further increase.

 

[Lguk]

Spoke to Octopus earlier. Agile is still capped at 35p/kW - it's due for review at the end of August. If (huge if) it remains at 35p it will be cheaper for anyone charging less than 6 hours a week, especially if you can time shift through IFTTT to make use of the price dips.

 

[Lovemyev]

Spoke to Octopus earlier. Agile is still capped at 35p/kW - it's due for review at the end of August. If (huge if) it remains at 35p it will be cheaper for anyone charging less than 6 hours a week, especially if you can time shift through IFTTT to make use of the price dips.

I think the likelihood of it staying at 35p after August is very remote, as you have already suggested.
With another 54% rise in energy prices due Oct / Nov ??????.
Who knows ?????.

 

[BugEyed]

you can time shift through IFTTT to make use of the price dips.

And how many of those do we get now?

 

[Lguk]

There's been a few. There's a site that tracks it.

 

[mystreet]

My Octopus Go contract ended yesterday and a new Go contract started today with the new higher rates. Originally the contract should have ended in June but Octopus didn’t send me any renewal quote at the time, due to this delay they extended my contract by one month.

So the daily standing charge jumped from 25p to 48p and the day unit rate from 15p to 34p. The 4hr night unit rate like many now at 7.5p. These rates are from March 2022 so lucky I have missed the July 2022 further increase.

Think that they make up prices for each individual. This is mine

 

[Lguk]

I've renewed go at 40p/7.5p with an open mind to maybe move to Agile after they review the max unit price.

Leaving gas on flexi as its capped way below any fixes available.