Octopus explains affects of energy prices on customers

With the Ofgem price cap set to rise by £149 per year for the average UK dual-fuel household, you may be wondering how this will affect your monthly outgoings. Octopus Energy, one the UK’s biggest energy suppliers, has messaged its customers to clarify this.

The new guidance relates to customers paying by direct debit, whereby the annual cost of energy is split over the year to avoid accruing huge bills in the winter months. Octopus says it won’t be adjusting households’ monthly payments straight away when the price cap goes up, but it will be periodically checking balances and usage to establish if people are paying too much or too little, and suggest adjustments if necessary.

The company also said:

“We don’t know exactly what energy prices will do in January and beyond, but most analysts are predicting the price cap will hover above £1,700 for the next 12 months. Our Octopus 15M Fixed tariff is currently £1,656 per year for a typical home, and has no exit fees.”

It added that with there being no exit fees, customers can simply change to another tariff in their online account if prices fall in future.

One way to ensure your monthly payments don’t go up is to ensure you’re heating system is working efficiently, so you consume less gas. Xgas can provide a boiler service in Wrexham, Chester, Oswestry and other nearby locations, so get in touch to learn about how we can do our best to ensure your boiler works smoothly and efficiently this winter.

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