Octopus Energy has introduced a new Standard Variable Tariff which is £105 more expensive than the previous one
This is the challenger supplier’s third price rise this year, meaning its standard energy tariff will now cost £1060 – an increase of £152 (17%) since the start of 2018
The new rate will apply to new customers and those whose fixed deals are ending from 6 October
Octopus customers currently on the Flexible Octopus SVT tariff should wait to be informed whether they are affected – including up to 95,000 households moved onto the tariff after their former supplier Iresa ceased trading in July
Commenting on the news, Rik Smith, Uswitch.com energy expert, says: “This third price rise from Octopus means the new version of their standard tariff is now £152 more than their SVT was at the start of 2018.
“Wholesale costs continue to rise inexorably, and no energy supplier is immune, leading to the cheapest deals being removed from the market. In this environment, one of the best options for energy customers is to consider a fixed price deal to guard against the possibility of yet more increases in the months to come.”
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Tim Dunford
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Email: tim.dunford@uswitch.com
Twitter: @uswitchPR
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