Octopus Go New Tariffs

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ItshardtobuyId3
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Post by ItshardtobuyId3 »

Bromsgroveuser wrote: Sun Feb 06, 2022 11:09 am
ItshardtobuyId3 wrote: Sun Feb 06, 2022 10:27 am
Utumno wrote: Sun Feb 06, 2022 12:41 am


I am guessing you've spoken to a drone rather than looking at the tariffs directly ? Ask them for a quote on "Flexible Octopus October 2021 v2", which is a current tariff. This is the tariff for our home postcode:

Screenshot 2022-02-06 at 00.28.31.png

That's a variable rate, OFGEM capped, available tariff. Then, once switched to Octopus on that tariff (and good luck, Outfox have an evil and in my experience well-deserved reputation for poor customer service) simply immediately switch your electricity to Go if it makes sense to do so financially for you - your gas will remain on the Flexible tariff. It's doubtless more expensive than Outfox though, whatever you do.

There's a pretty good overview on Octopus's website at https://octopus.energy/blog/energy-pric ... uary-2022/ about the upcoming April price cap changes, and even that says you shouldn't pay more than 7p/unit for gas.

PS : if you were wondering why I'm on Go here without an EV, it's because I can timeshift my electric storage heaters to 0030-0430 each night, saving me a small fortune even before the EV arrives
Can you see on the website or Octopus app how much you have used at each rate or does it only show on your bill?

I’ve switched over but the website is stuck saying it’s setting everything up for me and I can only see my overall use for each day.

My meter is an upgraded SMETS1 so I’m lucky I can get GO on it but the display unit in the house can’t cope with duel rates so only shows everything at the horrible 30.77p rate.
In my octopus account I can see a half hourly readout of my electricity and hourly for gas but its 24 hours behind i think
Thanks. I can download the data and see it is working half hourly but would be nice if there was an easy way to see consumption split between the rates.
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Post by Turquoise »

Back of a fag packet calcs for me:

Spend £100 more in the 4 months until my fix ends and the car is due.
Save £250 in the remaining 8 months of the year if the car arrives at the end of May and I charge it once a week. That's a pretty big IF.

Break even point is getting the car round about October, which is a year after I ordered... And I could help myself out a bit by shifting using the dishwasher and washing machine at night in the meantime... But I might also be able to charge at work in the future...

Anyway to tell when Octopus might look to increase the GO rate in line with the new cost cap?!?
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Post by Utumno »

Turquoise wrote: Mon Feb 07, 2022 10:20 am Anyway to tell when Octopus might look to increase the GO rate in line with the new cost cap?!?

They're not linked, as "Go" is a fixed price tariff, and the cap only applies to variable tariffs.
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Post by ItshardtobuyId3 »

Utumno wrote: Mon Feb 07, 2022 12:16 pm
Turquoise wrote: Mon Feb 07, 2022 10:20 am Anyway to tell when Octopus might look to increase the GO rate in line with the new cost cap?!?

They're not linked, as "Go" is a fixed price tariff, and the cap only applies to variable tariffs.
All their other fixed tariffs are miles more expensive than the cap and GO except for Intelligent. So GO andintelligent are probably the cheapest fixed rates on the market at the moment. I’d have though an increase soon is inevitable, though it’s only recently been increased so perhaps they’d already factored in rises.

Does seem odd though as GO will seem “cheap” even as a non EV fix in a couple of months.
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Post by sidehaas »

Utumno wrote: Mon Feb 07, 2022 12:16 pm
Turquoise wrote: Mon Feb 07, 2022 10:20 am Anyway to tell when Octopus might look to increase the GO rate in line with the new cost cap?!?

They're not linked, as "Go" is a fixed price tariff, and the cap only applies to variable tariffs.
He's right though, that they will almost certainly put the rates up again. Energy providers have been operating at a loss and need to recoup cash. Octupus have recently put the Go rates up, with a daytime rate of 60% above the cap, with another 3 months to run until the cap changes. People are still switching. After the cap changes the current Go daytime rate would only be about 10% higher than it. I think that's unlikely to happen, and in practice Octupus are likely to put the Go rates up again before the new cap comes in.
Looks to me like Turquoise has done all the right thinking but there is no right answer to when to switch. It's a question of who blinks first. I went through this in December and got it wrong (waited too long, so missed out on the 25/5p rates by a week and ended up now on 32/7.5p.) It's also worth noting that the previous 25/5p rate only existed for a couple of months I think.
It grates with me tbh that Octupus are simultaneously offering lots of existing Go customers rates that are literally half what I'm paying because (apparently) they forgot to notify them of the end of their contract in time. A bit of equity would be nice, especially since many of those of us being shafted are the people who got shafted already when our supplier went bust.
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Post by ItshardtobuyId3 »

sidehaas wrote: Mon Feb 07, 2022 12:44 pm
Utumno wrote: Mon Feb 07, 2022 12:16 pm
Turquoise wrote: Mon Feb 07, 2022 10:20 am Anyway to tell when Octopus might look to increase the GO rate in line with the new cost cap?!?

They're not linked, as "Go" is a fixed price tariff, and the cap only applies to variable tariffs.
He's right though, that they will almost certainly put the rates up again. Energy providers have been operating at a loss and need to recoup cash. Octupus have recently put the Go rates up, with a daytime rate of 60% above the cap, with another 3 months to run until the cap changes. People are still switching. After the cap changes the current Go daytime rate would only be about 10% higher than it. I think that's unlikely to happen, and in practice Octupus are likely to put the Go rates up again before the new cap comes in.
Looks to me like Turquoise has done all the right thinking but there is no right answer to when to switch. It's a question of who blinks first. I went through this in December and got it wrong (waited too long, so missed out on the 25/5p rates by a week and ended up now on 32/7.5p.) It's also worth noting that the previous 25/5p rate only existed for a couple of months I think.
It grates with me tbh that Octupus are simultaneously offering lots of existing customers rates that are literally half what I'm paying because they forgot to notify them of the end of their contract in time. A bit of equity would be nice.
It is a bit hard to swallow how much cheaper they are offering it to some customers for.

I really can’t see GO staying this price long. Loyal Octopus 12M fix rates are 33p for me vs 30.7p on GO. Why wouldn’t everyone just get GO, unless that’s what they want.
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Post by Turquoise »

ItshardtobuyId3 wrote: Mon Feb 07, 2022 12:49 pm
sidehaas wrote: Mon Feb 07, 2022 12:44 pm
Utumno wrote: Mon Feb 07, 2022 12:16 pm


They're not linked, as "Go" is a fixed price tariff, and the cap only applies to variable tariffs.
He's right though, that they will almost certainly put the rates up again. Energy providers have been operating at a loss and need to recoup cash. Octupus have recently put the Go rates up, with a daytime rate of 60% above the cap, with another 3 months to run until the cap changes. People are still switching. After the cap changes the current Go daytime rate would only be about 10% higher than it. I think that's unlikely to happen, and in practice Octupus are likely to put the Go rates up again before the new cap comes in.
Looks to me like Turquoise has done all the right thinking but there is no right answer to when to switch. It's a question of who blinks first. I went through this in December and got it wrong (waited too long, so missed out on the 25/5p rates by a week and ended up now on 32/7.5p.) It's also worth noting that the previous 25/5p rate only existed for a couple of months I think.
It grates with me tbh that Octupus are simultaneously offering lots of existing customers rates that are literally half what I'm paying because they forgot to notify them of the end of their contract in time. A bit of equity would be nice.
It is a bit hard to swallow how much cheaper they are offering it to some customers for.

I really can’t see GO staying this price long. Loyal Octopus 12M fix rates are 33p for me vs 30.7p on GO. Why wouldn’t everyone just get GO, unless that’s what they want.
It does say in the terms for Go that Octopus reserve the right to bump you to a different tariff if you're not using it to charge a car. Which is also putting me off ditching my current fix as I won't have a car to charge for at least 4 months and I'm not sure if showing them I have one on order would be enough if they did decide to bump me...
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Post by ItshardtobuyId3 »

Turquoise wrote: Mon Feb 07, 2022 1:31 pm
ItshardtobuyId3 wrote: Mon Feb 07, 2022 12:49 pm
sidehaas wrote: Mon Feb 07, 2022 12:44 pm

He's right though, that they will almost certainly put the rates up again. Energy providers have been operating at a loss and need to recoup cash. Octupus have recently put the Go rates up, with a daytime rate of 60% above the cap, with another 3 months to run until the cap changes. People are still switching. After the cap changes the current Go daytime rate would only be about 10% higher than it. I think that's unlikely to happen, and in practice Octupus are likely to put the Go rates up again before the new cap comes in.
Looks to me like Turquoise has done all the right thinking but there is no right answer to when to switch. It's a question of who blinks first. I went through this in December and got it wrong (waited too long, so missed out on the 25/5p rates by a week and ended up now on 32/7.5p.) It's also worth noting that the previous 25/5p rate only existed for a couple of months I think.
It grates with me tbh that Octupus are simultaneously offering lots of existing customers rates that are literally half what I'm paying because they forgot to notify them of the end of their contract in time. A bit of equity would be nice.
It is a bit hard to swallow how much cheaper they are offering it to some customers for.

I really can’t see GO staying this price long. Loyal Octopus 12M fix rates are 33p for me vs 30.7p on GO. Why wouldn’t everyone just get GO, unless that’s what they want.
It does say in the terms for Go that Octopus reserve the right to bump you to a different tariff if you're not using it to charge a car. Which is also putting me off ditching my current fix as I won't have a car to charge for at least 4 months and I'm not sure if showing them I have one on order would be enough if they did decide to bump me...
Yes it does, I’m a little worried that they might switch me back before my car turns up but don’t suppose they would in that time frame.
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Post by MattP »

Does anyone use the EV tariffs with good energy?
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Post by ItshardtobuyId3 »

MattP wrote: Thu Feb 10, 2022 7:27 am Does anyone use the EV tariffs with good energy?
Having seen their tariffs I was wondering the same thing…

I decided to go with a small energy provider (Avro) for the first time just before the winter and it went into administration 11 days later. The second cheapest was EDF at the time (look up EDF EV tariffs). If Good energy doesn’t go bankrupt it will be a miracle. They aren’t accepting new customers anyway.
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Post by MattP »

Evening all.
Has anyone recently signed up as a new customer to octopus go since they’ve allowed new customers? The reason I ask is my standard variable British Gas tariff has as expected jumped to 27.627p per kWh, with a standard charge of 44.75p per day.
Looking at Octopus Go for new customers it appears their price is 30.77p per kWh with a standing charge of 24.86 per day, but obviously we have the off peak rate of 7.5p per kWh.
I’d expect to charge about 5,000 miles from home so this seems a fair switch to me.

Any comments grateful received.
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Post by Utumno »

MattP wrote: Wed Feb 23, 2022 9:50 pm Evening all.
Has anyone recently signed up as a new customer to octopus go since they’ve allowed new customers? The reason I ask is my standard variable British Gas tariff has as expected jumped to 27.627p per kWh, with a standard charge of 44.75p per day.
Looking at Octopus Go for new customers it appears their price is 30.77p per kWh with a standing charge of 24.86 per day, but obviously we have the off peak rate of 7.5p per kWh.
I’d expect to charge about 5,000 miles from home so this seems a fair switch to me.

Any comments grateful received.

I believe need to go onto Octopus's standard variable tariff first until Octopus can confirm that the smart meter has switched over, this can take a couple of months. That said though, your BG tariff is the energy cap from April (I'm assuming you're in the East Midlands, as your figures directly match the cap) so it's not like you have anything to lose financially by switching away from British Gas - the "Flexible Octopus" tariff simply can't be any more expensive than your current BG tariff legally !

So switching to Octopus can only cost as much as present, or save you money if Octopus don't set their pricing at the legal cap (I don't think they've announced their April rates yet)

Moving to Go will be a tradeoff between "peak" and "off-peak" electricity usage as usual - the more you can shift to the "Go" window obviously the cheaper it'll be.

Assuming an average efficiency of 3 miles/kWh over the year, for 5000 miles charging you can expect to use 1667 kWh approximately. At 26.63p/kWh that's an annual cost of £460.59. At 7.50p/kWh that's £125.03. If you can shift all those miles to the Go window (and I'd suggest that's easily doable at 5,000 miles a year) then you'll save £335.56 a year (£27.96 a month on average) for that part of your spend.

The thing to be mindful of is that under Go you'll get charged more per kWh outside of the Go window than the cap tariff, because Go is technically a fixed tariff. Without knowing your regular electricity usage, it's impossible to say whether you're better off on Go compared to the capped tariff.
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Post by MattP »

Many thanks for the updates. Looking at my current usage on electric it’s around 4000 kWh per year, but that’s obviously without the car which will push it up. Bit if a mine field really, and probably not an awful lot of savings for me if any, but I suppose it protects if the rates increase again in October.
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Post by MotMot »

My EV consumption is about the same as our domestic (4000kw PA) so I’ve just switched to OGo (30/7.5p) as that works out an average of 18.75p kWh. If I can get all my charging in the off peak times. Though I can probably move some domestic things on a timer to the night rates too.
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Post by gailjon »

Deleted User 192 wrote: Sun Jan 09, 2022 8:58 am As a new customer it’s either those Go rates or you can opt for their Flexible rate which is currently just over 20p thanks to the government price cap (til April)
Those are the rates we have just been advised will be our new rates as our Go rate of 5p and 13.45p ends in April. Massive rate change but to be expected.
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Post by monkeyhanger »

The invasion of Ukraine is going to make things much worse - wholesale gas prices are double today of what they were just 2 weeks ago.
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Post by monkeyhanger »

gailjon wrote: Wed Mar 02, 2022 9:50 am
Deleted User 192 wrote: Sun Jan 09, 2022 8:58 am As a new customer it’s either those Go rates or you can opt for their Flexible rate which is currently just over 20p thanks to the government price cap (til April)
Those are the rates we have just been advised will be our new rates as our Go rate of 5p and 13.45p ends in April. Massive rate change but to be expected.
Did they serve a month's notice to advise the new prices? My deal is up in May, so I may get a worse deal after April.
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Post by gailjon »

monkeyhanger wrote: Wed Mar 02, 2022 10:11 am
gailjon wrote: Wed Mar 02, 2022 9:50 am
Deleted User 192 wrote: Sun Jan 09, 2022 8:58 am As a new customer it’s either those Go rates or you can opt for their Flexible rate which is currently just over 20p thanks to the government price cap (til April)
Those are the rates we have just been advised will be our new rates as our Go rate of 5p and 13.45p ends in April. Massive rate change but to be expected.
Did they serve a month's notice to advise the new prices? My deal is up in May, so I may get a worse deal after April.
Our present deal ends on 16th April so they have given around 6 weeks notice. We are due to go from 5 p/13p.45p to 7.5p and 30.23p.

I still think we are better on this than transferring to the flexible at 15.02/21.76p as this will more than likel;y go up to maximum cap rate (28p day) and we charge our cars overnight at the cheap rate and this uses the most energy in the house.
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Post by monkeyhanger »

gailjon wrote: Wed Mar 02, 2022 2:49 pm
monkeyhanger wrote: Wed Mar 02, 2022 10:11 am
gailjon wrote: Wed Mar 02, 2022 9:50 am

Those are the rates we have just been advised will be our new rates as our Go rate of 5p and 13.45p ends in April. Massive rate change but to be expected.
Did they serve a month's notice to advise the new prices? My deal is up in May, so I may get a worse deal after April.
Our present deal ends on 16th April so they have given around 6 weeks notice. We are due to go from 5 p/13p.45p to 7.5p and 30.23p.

I still think we are better on this than transferring to the flexible at 15.02/21.76p as this will more than likel;y go up to maximum cap rate (28p day) and we charge our cars overnight at the cheap rate and this uses the most energy in the house.
OK, looking forward to household electricity costs doubling and driving costs going up 50% :lol:

I will have to nag the kids even harder to turn off lights when they exit a bathroom or the stairs!
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Post by gailjon »

monkeyhanger wrote: Wed Mar 02, 2022 2:53 pm
gailjon wrote: Wed Mar 02, 2022 2:49 pm
monkeyhanger wrote: Wed Mar 02, 2022 10:11 am

Did they serve a month's notice to advise the new prices? My deal is up in May, so I may get a worse deal after April.
Our present deal ends on 16th April so they have given around 6 weeks notice. We are due to go from 5 p/13p.45p to 7.5p and 30.23p.

I still think we are better on this than transferring to the flexible at 15.02/21.76p as this will more than likel;y go up to maximum cap rate (28p day) and we charge our cars overnight at the cheap rate and this uses the most energy in the house.
OK, looking forward to household electricity costs doubling and driving costs going up 50% :lol:

I will have to nag the kids even harder to turn off lights when they exit a bathroom or the stairs!
Thankfully we don't have gas heating!
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