Octopus energy customers have access to a clever variable rate tariff that could help them save some cash, Money Saving Expert Martin Lewis told listeners on BBC Radio 5Live.
This is all about standard tariffs
It’s the default deals that energy firms put customers on who’ve never switched, haven’t chosen a special rate, or once that rate finishes.
It’s always expensive. Yet for the last couple of years they have been governed by a price cap that’s set every six months.
A few weeks ago it was announced that from 1 April the direct debit dual-fuel price cap would rise from £1,042 to £1,138 a year for someone on typical usage.
Primarily due to the wholesale rate of energy (those the firms themselves pay) have gone up rapidly after bottoming out due to low usage in the first covid-19 wave.