Help with Gas n Leccy

Blf

Blf

Well-known member
Coming off a 5 Yr fixed deal on Oct 31.
I'm with Shell who have said my yearly projection is Gas 10190.05 kwh and
Leccy 1844.37 kwh.
They say this is around £1559 a year but that's if I have the same usage.

They have offered me a monthly DD of £134.30 for 12 month
Or a DD of £133.19 for a fixed 14 month.
I have been paying £89 p month for the last 5 years.

I've been reading the Octopus tracker thread but got a bit lost. On top of this Shell have told me they have been taken over by Octopus so could I end up on the tracker anyway?

Should I just take the fixed rate one for 14month?
Any advice would be appreciated as I'm a bit unsure on how to progress.
Thanks.
 
Ignore their direct debit quotes, you'll still pay for the energy you use so don't be fooled by them into thinking this is a set cost.
 
What is the actual tariff - the unit rate for the gas and electricity? Are they just offering the current price cap? If they are then change to the tracker with Octopus.
 
sherlock1969 said:
Ignore their direct debit quotes, you'll still pay for the energy you use so don't be fooled by them into thinking this is a set cost.
Click to expand...
Yes, you still pay for what you use but I find the fixed DD payment method very useful from a budgeting point of view.
I prefer knowing I will be paying the same every month with no massive peaks.
If it is set at the right level you save in the summer to pay off the extra use in the winter.
I wouldn't ignore them until you think about that.
 
Will_Graham said:
Yes, you still pay for what you use but I find the fixed DD payment method very useful from a budgeting point of view.
I prefer knowing I will be paying the same every month with no massive peaks.
If it is set at the right level you save in the summer to pay off the extra use in the winter.
I wouldn't ignore them until you think about that.
Click to expand...
No, I meant ignore them for the purposes of looking at a quote, need to look at actual usage and rates.
 
Don't take the fix, it won't be much better than the price cap.

I would suggest the tracker as you can come off it with a few days notice but it's currently 30-40% cheaper than price cap and no fix is touching that

Prices forecast to remain high for fear of decade

As said above unit rates are the key.

Today elec is 14p and gas is 4p but it's usually about 16-18p for elec. over thousands of units that adds up.

Prices on tracker may go up but you'll always have price cap available - the amount you save rest of the time would more than pay for it
 
If you tell me your unit rates on the fix I can tell you what you would pay on the fix vs what you'd pay on the tracker

Also with octopus you can change your own DD amount via the app so you an have it set higher or lower. Can also request refund of credit balance if you change your mind on that approach and would rather stick it in a high interest acct
 
SE4 Red said:
What is the actual tariff - the unit rate for the gas and electricity? Are they just offering the current price cap? If they are then change to the tracker with Octopus.
Click to expand...
The tariff are.
Variable one
ELECTRICITY
Standing charge 57.04 p per day
Unit rate 29.29 per kwh.
GAS.
S Charge 29.11 Per day
Unit charge 7.45 p per hr.

FIXED.14 mnth
ELECTRICITY
Standing ch 62p per day
Unit charge 28.21 per kwh.

GAS.
Standing c 18.21per day
Unit charge 7.67 per kwh.

£75 per fuel early exit charge.

No idea if this is any good.

Thanks for your replies.
 
Blf said:
The tariff are.
Variable one
ELECTRICITY
Standing charge 57.04 p per day
Unit rate 29.29 per kwh.
GAS.
S Charge 29.11 Per day
Unit charge 7.45 p per hr.

FIXED.14 mnth
ELECTRICITY
Standing ch 62p per day
Unit charge 28.21 per kwh.

GAS.
Standing c 18.21per day
Unit charge 7.67 per kwh.

£75 per fuel early exit charge.

No idea if this is any good.

Thanks for your replies.
Click to expand...
It's expensive, tracker miles cheaper, I'll work it up for you now
 
Blf said:
The tariff are.
Variable one
ELECTRICITY
Standing charge 57.04 p per day
Unit rate 29.29 per kwh.
GAS.
S Charge 29.11 Per day
Unit charge 7.45 p per hr.

FIXED.14 mnth
ELECTRICITY
Standing ch 62p per day
Unit charge 28.21 per kwh.

GAS.
Standing c 18.21per day
Unit charge 7.67 per kwh.

£75 per fuel early exit charge.

No idea if this is any good.

Thanks for your replies.
Click to expand...
Seriously expensive. Don't do it
 
IMG_3997.jpeg

So the blue ones are what you're fix is projecting

The green is price cap now

Purple is tracker

So your fix is £132 a month averaged over the year
price cap would be £134
tracker £81

I've just adjusted the tracker to todays gas rate which is a bit more typical of late and it changes to £85

Big difference - 47 a month, £564 a year. Would have to go up a lot to cost you money.

Plus you have a £75 exit fee per fuel locking you in to that fix!

Boro999 said:
I'm intrested as mines similar prices on the eon nextflex fixed rate
Click to expand...
Have a look here and ask any questions if not sure but basically tracker is about 30-40% cheaper but all the details are below. They give you £50 for joining (I get the same) but it's a no brainer imo

fmttmboro.com

🐙Cut your energy bills nearly in half with Octopus Tracker

This post and thread is long! But could save you a fortune! Whistle stop summary; * Wholesale prices for oil and gas have dropped but the price cap in place today factors in long term pricing so is much higher than wholesale. This tariff lets you pay wholesale prices. * Supplier octopus...
fmttmboro.com fmttmboro.com
 
I know gas and elec can be mega complicated if you're not used to looking at it by the way, with loads of numbers etc

if anyone wants a 5 minute call to talk through how tracker works then send me a PM. It's not super straightforward but it is well worth doing and fairly risk free if you know how it works
 
Also if you do join octopus ignore the quote they give you when joining - you join them at the standard tariff and that's what they quote you on, but you then join the tracker. The standard tariff is practically the same as the fix above anyway though and you can switch back to it any time, there are no exit fees.

@Boro999 if you have the amount of units you use I can work it up for you too
 
ThatFragranceGuy said:
I know gas and elec can be mega complicated if you're not used to looking at it by the way, with loads of numbers etc

if anyone wants a 5 minute call to talk through how tracker works then send me a PM. It's not super straightforward but it is well worth doing and fairly risk free if you know how it works
Click to expand...
How much do Octopus charge up front? Seem to remember someone saying they wanted a month in advance and a further payment two weeks later? Added to the payment that the outgoing supplier will want that will potentially be 3 payments in a month? (though aware the old supplier would eventually have to refund.

Ta.
 
ThatFragranceGuy said:
View attachment 63840

So the blue ones are what you're fix is projecting

The green is price cap now

Purple is tracker

So your fix is £132 a month averaged over the year
price cap would be £134
tracker £81

I've just adjusted the tracker to todays gas rate which is a bit more typical of late and it changes to £85

Big difference - 47 a month, £564 a year. Would have to go up a lot to cost you money.

Plus you have a £75 exit fee per fuel locking you in to that fix!


Have a look here and ask any questions if not sure but basically tracker is about 30-40% cheaper but all the details are below. They give you £50 for joining (I get the same) but it's a no brainer imo

fmttmboro.com

🐙Cut your energy bills nearly in half with Octopus Tracker

This post and thread is long! But could save you a fortune! Whistle stop summary; * Wholesale prices for oil and gas have dropped but the price cap in place today factors in long term pricing so is much higher than wholesale. This tariff lets you pay wholesale prices. * Supplier octopus...
fmttmboro.com fmttmboro.com
Click to expand...
Your tracker rates seem a bit 'best case', even with the adjustment. I'd say 19p elec and 4.8p gas is a more realistic longer term average with scope for upward fluctuations, how do those rates stack up?
 
sherlock1969 said:
How much do Octopus charge up front? Seem to remember someone saying they wanted a month in advance and a further payment two weeks later? Added to the payment that the outgoing supplier will want that will potentially be 3 payments in a month? (though aware the old supplier would eventually have to refund.

Ta.
Click to expand...
My first payment was about 3 weeks after joining, and then just monthly from there. Nothing particularly 'in advance': works out as 3 week arrear 1 week advance.
 
coluka said:
Are there any other options for people not having a smart meter (like me)
Click to expand...
Not really unfortunately

The tracker rates rely on suppliers being able to know which days the energy was used on. They used to let you on it and take an average but when the floodgates opened they changed the requirements
 
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