The “tease and squeeze” tactics of cheap fixed deals
"Tease and squeeze" pricing is where a supplier will lure in customers with a cheap fixed term deal, before switching them to an overpriced standard variable tariff once their fixed term ends.
Sadly, it's the norm in the energy industry, and it means most people are paying well over the odds for their energy.
Here's a chart of the biggest suppliers, comparing the price they're offering new customers versus the price they're offering loyal customers.
Based on publicly published prices for a typical home between September and November 2017.
We believe in offering good value energy to everyone: new and loyal customers alike.
The typical U.K. home would save over £200 a year by switching to Octopus Energy today, compared to sticking with a Big 6 variable tariff.
Annual cost of the Big 6 standard variable tariffs
Based on publicly published prices, for medium usage as defined by Ofgem, averaged across all UK regions, Including discounts for paperless billing and payment by monthly Direct Debit. Prices accurate as of Nov 2017.
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Better value, without the hassle
“Fantastic company, no long phone calls waiting to speak to someone and Emily went above and beyond to help me. Not only did she help me with my enquiry she also spoke to my last provider to save me the stress and hassle. If all your employees are like Emily then everyone who signs up to Octopus energy is in safe hands.” - Lynsey, recent Octopus convert
Switch to Octopus Energy in just 2 minutes from your laptop, mobile or tablet. You don’t need a bill to hand, just your bank account details.
We’ll inform your supplier and make sure you don’t pay for your power twice. And, because all suppliers use the same pipes and cables, there’s no engineer visits and absolutely no risk of disconnection.
We don’t charge exit fees and there are no long-term contracts, so if you’re not completely happy you’re free to leave whenever you like.
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