Octopus 15-month fixed tariff – Don’t get locked into paying too much for your energy!

Octopus Energy introduced a 15-month fixed tariff on September 6th, but it was replaced by a more affordable 12-month fixed tariff on October 1st, 2024. The new plan is now cheaper, offering even better value for customers looking to lock in their rates for a year

Updated: 1st October 2024.

If you are trying to find some security with a fixed tariff, in my opinion, the Octopus 12-month fixed covers everything.

It’s 8.8% cheaper than the October 2024 price cap.
There are no exit fees, so you won’t get trapped paying too much if prices drop.
Safeguards your rates for 12 months if prices go up further or remain higher than the fixed rates.
There is no requirement for a smart meter. (Although I think they are a way of unlocking other savings too.)

Martin Lewis suggests considering a fixed tariff if it’s up to 1% less than the October 2024 Energy Price Cap. All of Martin’s suggestions on the Money Saving Expert website have exit fees. With Octopus Energy there are no exit fees!

Is it worth taking the Octopus 15 months fixed? (Now 12 months fixed.)

Currently, the Octopus 12 months fixed will be the cheapest tradional Octopus tariff from 1st October 2024.
EDF Price Forecasting Services shows a 0.2% drop in January 2025 and a further 1% reduction in April and 2% in July Energy Price Caps.
Wholesale energy prices are coming down in September but predictions are that energy will remain higher than the July Energy Price for the next year. (But that has to be a crystal ball prediction!)

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