Octopus Energy 12 Months Fixed tariff v October Energy Price Cap 2024.
If you are looking for the cheapest energy deal the Octopus fixed tariff just got even better. It’s good news for once as we head into winter there’s a fixed cheaper than the price cap right up until the summer if predictions are correct! Plus, there are no exit fees on any current Octopus tariffs, so you can switch whenever you want, as many times as you like.
Spot a better deal next week or next month? That’s no problem as you’re not locked in. It’s flexible, cheaper on your purse, and hassle-free. I’ve switched to Octopus Energy multiple times and it’s no hassle.
If you are ready to switch to Octopus Energy the 12-month fixed is open to new and existing customers. Octopus has you covered with a 12-month fixed tariff that’s 5.3% below the October 2024 Energy Price Cap, with no exit fees!
Should I take the Octopus 12-month fixed or should you stick with the October 2024 Energy Price Cap?
The short answer is it is worth considering the Octopus 12 Month Fixed tariff over the Octopus Flexible rate. (October 2024 Energy Price Cap as it is cheaper.
@sarah_go_green The @Octopus Energy 12 months fixed can still save you money. #energybills #moneysavingtips ♬ original sound – sarah_go_green
The Octopus 12-month fixed tariff is 5.3% cheaper than the Octopus Flexible tariff. That works out to around £84 a year less. Why would you give an energy supplier more money than you need to? Do your lights glow differently when you pay more for your energy? There’s no M&S version of energy, although I would say Octopus give them a run for their money on service. It all comes into your home the same way, so why pay more especially as we head into winter?
Will the January 2025 Energy Price Cap go down in price?
Analysts predict that the January 2025 Energy Price Cap will go up by 1%. Considering the Octopus 12 months fixed is 5.3% below the Energy Price Cap is it worth holding out for? We are already around a third of the way through the assessment period where Ofgem use the current wholesale energy prices to fix the next energy price cap so analysts have quite a solid chance of being right.
Will the Octopus Energy fixed rates go down any further?
I am hoping that the Octopus fixed rates go down at least once again in October 2025. The good thing about fixing with Octopus is the current no-exit fee policy. If a new Octopus fixed tariff becomes available that can save you more money too. You send an email, call or swap from your customer dashboard to the cheaper rate. I have done it oodles of times.
Why has Octopus reduced its fixed tariff when the Energy Price Cap has increased by 10%?
It’s time to take advantage of energy suppliers fighting for our business and wholesale energy prices being cheaper right now. Getting a cheap fixed with no exit fee is the key.
- The October Energy Price Cap is based on wholesale energy prices from mid-May to mid-August 2024.
- Ofgem sets these rates using historical wholesale energy prices.
- Since August, wholesale energy prices have dropped, allowing Octopus to buy energy at a cheaper rate.
- This, combined with energy suppliers competing for your business, is making fixed tariffs more competitive right now! This is just a quick post to make you aware of the new Octopus 15-month fixed tariff. You can read more on my full Octopus Energy tariff comparison blog which I update several times a week.
About Me.
I am a mum to 3 school-age daughters and have become hyper-focused on my energy bills. Energy now feels like a luxury commodity. This has made me more determined than ever to try and lower my bills and get the best value for money.
I have been a happy Octopus customer for 6 years. Switching suppliers helped me control my energy bills. Octopus Energy cares about its customers and constantly fights government policy to improve things.
Let’s compare Octopus Energy or switching tariffs if you want to learn more about them. I have done the hard work for you! (I am on the spectrum and this is my area of expertise.)
Written by Sarah Chambers