Energy Tariffs

[Thebeeman]

Has anybody even heard a whisper of any tariffs since the new Liz's statements. As they should apply in just over a fortnight the silence is deafening.
Hearing feedback on a few radio progs about Ovo's customer support I can cross them off my list. I'm leaning to Octopus, your views would be welcome.

[Bugtownboy]

I was ported to Octopus when Avro folded.

Bit annoyed because I almost went with Octopus before Avro - ah well.

In terms of Octopus - and I’m just on a variable tariff - I’ve been impressed. Comms are good, any queries are quickly responded to via email.

No issues with DD - Octopus suggest a figure based on previous usage, you can easily change it up or down using the website.

I’m very happy with them.

[Stinsy]

My understanding is that customers on variable tariffs will pay 34p/kWh for electric and 10p/kWh for gas.

The interesting part is that those on fixed tariffs will get a 17p/kWh discount on whatever their fixed tariff says. How will that play out for those on ToU tariffs? Nobody seems to know!

EDIT: The original version this post contained a typo this has been corrected.

[AE-NMidlands]

Nowty is well clued up on this. See post 6 in another thread. https://camelot-forum.co.uk/phpBB3/view ... =14&t=1287
I think the message is that if you can default on to a varaible tarriff (which I shall do) it will be no higher than something like Nowty's prediction, and if you have already fixed on something higher it will be massaged down.

I don't think any suppliers are accepting new customers, but it doesn't matter as they will all be subject to the same cap anyway, so you might as well stay where you are for now.
A

[Bugtownboy]

My understanding is that customers on variable tariffs will pay 23p/kWh for electric and 10p/kWh for gas.

The interesting part is that those on fixed tariffs will get a 17p/kWh discount on whatever their fixed tariff says. How will that play out for those on ToU tariffs? Nobody seems to know!

23p/kWh would be super - sure it’s going to be higher.

[nowty]

This is the official government publication but there are parts that could and will almost certainly be interpreted in a different way.
https://www.gov.uk/government/publicati ... ember-2022

If you’re on a standard variable tariff
The average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

Standing charges
Average standing charges will remain in line with the levels set by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit.

This is the Weird bit.........

If you’re on a fixed tariff
If you’re on a fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.

Martin Lewis made a tweet early that he heard that the discount to a fixed rate would be some sort of per pound percentage discount. But he said he needed more info.

I think they may have meant to say "reduced by up to".............. which would be more sensible.

[AE-NMidlands]

Correction!
https://www.bbc.co.uk/news/business-62878614 says

A relatively small number who chose to fix at an expensive rate - expecting energy prices to keep rising sharply - will still pay more than others.

so it's not what we were told after all. Gullible me!
A

[Thebeeman]

I've defaulted to variable on EDF but want to find a T.O.U. because of new batteries. Nobody seems to be offering anything at present. I was just wondering if I've gone deaf or the silence is national.

[nowty]

Martin Lewis more recently tweeted regarding Fixed Tariffs,

Fixes that cost more than the new price guarantee will also likely see their rates reduced. But we are still waiting for clarification on how and what happens to those on cheaper fixes.

So who knows for now, even he doesn't.

It would not surprise me if they say TOU tariffs are too complicated to do anything about but you can change for free to the standard capped rates if you wish.

EDIT - Martin Lewis is mtg with the CEOs of the big energy companies tomorrow to get some clarifications.

[nowty]

And on the discount to avoid peak rate, which went a bit quiet looks set to fail.
https://www.bbc.co.uk/news/business-62876194

The Times first reported that both Octopus Energy and E.On had warned that the proposed payment to customers of 52p for each kilowatt-hour of electricity saved during peak times was too low, and would not encourage people to sign up.

"We need that incentive that changes the behaviour. The higher the payments to customers, the greater chance of success."

It is understood one supplier suggested the savings offered to customers avoiding peak-time use should be between £1 to £2 per kWh.

E.On said it believed the current prices being discussed by National Grid ESO "aren't going to be enough to persuade people to take part".

"This activity is designed to be a last resort measure at times of stress on the grid and we feel the reward to customers should match recent prices and give people a real reason to take part," the company said.