Joining another waitlist !

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Joining another waitlist !

Post by magicman »

Never heard of a waitlist for an Energy tariff, until now !
And you have to purchase, a less popular, standard tariff to qualify.


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Re: Joining another waitlist !

Post by DavidCM »

iI suppose they can't be any worse than OVO--a complete *^%$ shower.I'm glad the Ombudsman was efficient and kicked them where it hurt.
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Re: Joining another waitlist !

Post by JAFO »

Octopus. Even the name sounds like Rowlex. :D
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Re: Joining another waitlist !

Post by jkbarnes »

What does tariff mean, as used here?
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Re: Joining another waitlist !

Post by downer »

jkbarnes wrote:What does tariff mean, as used here?
It just means the pricing scheme… £x per unit of energy, £ per day as a standing charge, exit fees etc.
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Re: Joining another waitlist !

Post by jkbarnes »

downer wrote: Thu Jul 20, 2023 10:38 pm
jkbarnes wrote:What does tariff mean, as used here?
It just means the pricing scheme… £x per unit of energy, £ per day as a standing charge, exit fees etc.
Thanks! One never sees it used that way here in the States. In fact, one rarely sees it much at all. And when it is used (in reference to import taxes), I wouldn’t be surprised if the average American didn’t know what it meant!
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Re: Joining another waitlist !

Post by JAFO »

Sorry this is a long reply.

I don't know if it's happened in the US but energy prices here are somewhat regulated, with maximum rates set by a quango.

There were many deals around, where buyers could fix their prices in advance for a given period, and many rate-switching websites that prompted customers to switch their energy suppliers regularly to get "the best deal". Not just energy, this also applies to many other purchases.

Last year when the Ukraine situation arose, inflation took hold, and energy prices shot up, the maximum rates energy companies could charge also responded by increasing, but as a delayed reaction, as their increases had to be authorised by the quango, profit being considered a dirt word by many.

Smaller energy companies were also affected as they had customers on fixed rates, but the energy companies were exposed to buying at unexpectedly higher prices which they couldn't sustain.

As a result of all this, many smaller energy companies went out of business, and their users were compelled to find new "best deals" from new suppliers.

Only now there aren't so many best deals, so customers had to go on to much more expensive market rate deals. Energy costs for a household were expected to increase from say £1000 a year to over £3000. Businesses are closing because of enormous fuel costs. Restaurants and pubs say they can't survive, which I always find quite bewildering.

The next thing was the UK government started throwing free money at everybody to limit the cost of energy (on top of all the free money for people to not go to work during the COVID) and now they are surprised there's a lot of inflation in the system.

So Octopus, one of the smaller energy companies, but maybe better run than some others, presumably now is able to release some better rates but their availability is limited.

Rather like waiting lists for watches.

I hope that's reasonably accurate and makes sense. There's also major arguments in the UK because supermarkets won't drop petrol (gas) prices fast enough as oil prices fall. There's even complaints that food prices in shops are hard to compare because shops sell different brands of food, and price things differently in different pack sizes.

We haven't reached the interesting stage I read about in certain US cities, where Walmart and other big stores are just closing because they aren't prepared to continue sustaining losses due to theft.

However we do get a problem where banks close unprofitable branches, but are supposed to keep them open as charitable endeavours.

We also now have swingeing increases to mortgage payments, as interest rates have risen to try to control inflation, but these mortgage increases are also causing cost of living problems. We don't tend to have long fixed interest mortgages in the UK. Maybe 2 years to 5 years, but if you fixed at 2% and a few years later the fixed deal ends, and the interest rate becomes 5.5% your monthly outgoings will really shoot up.

I'll stop there so I don't stray too far into political areas.
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Re: Joining another waitlist !

Post by MarkingTime »

I’m on an Octopus tariff, it pays pretty much parity with import and export rates.

They have without doubt, one the best CS I have encountered in any industry, never mind the energy sector. They are also no longer a small concern, having garnered huge amounts of solar and EV customers due to their revolutionary time of use tariffs.
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Re: Joining another waitlist !

Post by Amor Vincit Omnia »

Well, Grayson, it does seem slightly the thin end of the wedge, a chap having to join a queue for the electrical company.

Indeed, Mr Cholmondley-Warner. One expects to queue for oranges or eggs in these difficult times, of course, but electricity? Really?

Absolutely, Grayson. Chap I know actually put his name on a waiting list for a wristwatch. Can you believe it? A wristwatch of all things? What is the world coming to?
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Re: Joining another waitlist !

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We also now have swingeing increases to mortgage payments, as interest rates have risen to try to control inflation, but these mortgage increases are also causing cost of living problems. We don't tend to have long fixed interest mortgages in the UK. Maybe 2 years to 5 years, but if you fixed at 2% and a few years later the fixed deal ends, and the interest rate becomes 5.5% your monthly outgoings will really shoot up.

I'll stop there so I don't stray too far into political areas.
I'm sure there must be other "old gits" here who were around in the very late 1980's/early 1990's,who will remember mortgage rates peaking at 15%..not 5%... you've never had so good.
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Re: Joining another waitlist !

Post by Thegreyman »

Amor Vincit Omnia wrote: Sun Aug 27, 2023 8:47 pm Well, Grayson, it does seem slightly the thin end of the wedge, a chap having to join a queue for the electrical company.
And apparently you have to purchase some gas to be considered to be on the waiting list for electricity. Sound familiar?!
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