Octopus Energy reviews: Give your feedback

Telegraph_Sam

Tks, I've got the conversion formula stored but I was not aware of the market-data link which if I understand you correctly refers to tomorrow's price. Strikes me that the UK market is suffering from a bit of price competition / protection status compared with its neighbours. And that by quite some.

Is there the equivalent for the gas wholesale market?

I think your last comment has to be borne in mind by those championing the off-peak tariffs just as one would take account of off peak consumption when comparing the daytime rates.

Umiamz

I thought that you needed some Hildebrand hardware to use the Bright app. How do you obtain the data without that?

QrizB

Telegraph_Sam said:

Is there the equivalent for the gas wholesale market?

I think your last comment has to be borne in mind by those championing the off-peak tariffs just as one would take account of off peak consumption when comparing the daytime rates.

Octopus say they get the wholesale price from Marek Spectron but a quick Google doesn't turn up a convenient web link, sorry.

If I was with Octopus I'd have to choose between buying electricity cheap on Go and selling the power I generate for a better price on Outgoing Agile; you can't have both. It's likely that Go would win out but I haven't run the numbers.

Telegraph_Sam

That's where you get into spot market trading - I thought this was an info exchange forum for simple consumers! 

bristolleedsfan

QrizB said:

So for example, I'm in the Southern region. Tomorrow's wholesale price is £78.01/MWh (7.801p/kWh) and my Tracker price would be [(7.801 * 1.1845) + 7.336 =] 16.58p per kWh. (That may be slightly out if I'm meant to account for VAT somewhere.)

Cheapest region I have seen Electricity is nearly 18p kwh with some regions over 18pkwh today,  Gas ranging from 4.01p - 4.19p kwh

niktheguru

Telegraph_Sam said:

Tks, I've got the conversion formula stored but I was not aware of the market-data link which if I understand you correctly refers to tomorrow's price. Strikes me that the UK market is suffering from a bit of price competition / protection status compared with its neighbours. And that by quite some.

Sam! I went through step by step how to work out tomorrows tracker price with you at least TWO TIMES before now, albeit its now hidden amongst the 119 pages in this thread!!

Wowser, prices are going up up up on tracker. 18.9p in my area today! If its any consolation it'll be reducing by about 0.5p tomorrow! I'm seriously starting to think about moving gas away, 4.19p/kwh is ridiculous.

MWT

I locked in another 12 months at below 3p/kWh back in April and I've seen nothing since that suggests we'll see that price again this year...

Got my father-in-law onto a 24 month fix at 3.13p/kWh last month and glad I got that for him before it dissapeared as well...

I am concerned about how the pricing is likely to look if people delay fixing until September or so...

Telegraph_Sam

So who would you switch the gas to in current circs?

MWT

Both of my fixes were with Octopus, but if I had to find the cheapest possible now I'd probably check Zog.

Even there you won't beat Octopus by a lot, all the gas prices seem to be around 3p/kWh these days, but my concern is that the longer you wait the higher they will go ...

Personally I look to fix in the first 4 months of the year and then change if cheaper fixes come along later thanks to the 'no exit fees' bit with Octopus.

Telegraph_Sam

It's not obvious to me what Octopus gas tariff to "fix" on. I did look into Zog previously.  From what I can see it's hard to get any deal at 3 p or less. I suppose that you can combine an Octopus smart electricity tariff with any other gas tariff?

From this it would appear that statistically next month is the time to fix, which is my gut feel

https://www.seasonalcharts.com/future_energie_naturalgas.html