Octopus Energy reviews: Give your feedback

tlcgrantham

Gas Tracker appeals to me because of the low standing charge of 15p a day and I don’t use much gas in the summer. If you don’t have a smart meter  for gas they average the price over a month and charge that, otherwise they charge the price they post on your account each day. That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

MWT

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

SJMALBA

Thanks, all.

FWIW, actual 2021 usage was:-

Electricity - 2780 kWh

Gas - 15140 kWh

Estimated Annual Usage from March bill:-

Electricity - 2473 kWh

Gas - 14300 kWh

And currently applicable tariffs:-

(apologies for going a bit OT)

tlcgrantham

MWT said:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

I hope your right. It in effect means Gas Tracker is the cheapest fixed tariff on offer by Octopus with a possibility of it being considerably cheaper if Tracker prices stay anywhere near where they are now. A risk free gamble?

masonic

tlcgrantham said:

MWT said:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

I hope your right. It in effect means Gas Tracker is the cheapest fixed tariff on offer by Octopus with a possibility of it being considerably cheaper if Tracker prices stay anywhere near where they are now. A risk free gamble?

So does the price cap now form part of the T&Cs, rather than the previous scenario in which it was an add on gentleman's agreement?

bristolleedsfan

tlcgrantham said:

MWT said:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

I hope your right. It in effect means Gas Tracker is the cheapest fixed tariff on offer by Octopus with a possibility of it being considerably cheaper if Tracker prices stay anywhere near where they are now. A risk free gamble?

https://octopus.energy/tracker-faqs/
"Changes to standing charges are infrequent, and we’ll let you know at least 30 days in advance of any changes coming into effect"

MWT

bristolleedsfan said:

tlcgrantham said:

MWT said:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

I hope your right. It in effect means Gas Tracker is the cheapest fixed tariff on offer by Octopus with a possibility of it being considerably cheaper if Tracker prices stay anywhere near where they are now. A risk free gamble?

https://octopus.energy/tracker-faqs/
"Changes to standing charges are infrequent, and we’ll let you know at least 30 days in advance of any changes coming into effect"

That is the standing charge though, not the cap, they do not seem to have reserved the right to change that...

QrizB

tlcgrantham said:

MWT said:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

That is a reasonable assumption, if they want to change that they would need to move to a V3 of the tariff and you'd be safe on V2 at least until you need to renew and possibly longer....

I hope your right. It in effect means Gas Tracker is the cheapest fixed tariff on offer by Octopus with a possibility of it being considerably cheaper if Tracker prices stay anywhere near where they are now. A risk free gamble?

Octopus will have hedged the energy for their fixed price tariffs. They say that energy for Tracker is bought on the spot market.

I was amazed by how long they held the old Tracker caps, and wouldn't rely on them being so generous again.

masonic

If I'm understanding the following post correctly, the supposition was that Tracker was effectively a 1 year fix of standing charge and price cap:

tlcgrantham said:

That price is currently capped at 11p/kWh and as my account says the of tariff “FIXED TERM ENDS 14/04/2023” I’m hoping that means both the cap and standing charge are fixed till then.

bristolleedsfan has dispelled the myth that standing charges are fixed for 12 months.

While the maximum cap on Tracker prices is specified in the FAQ, it does not say whether or not this is fixed, so for a definitive answer we would need someone who has signed up to the current tariff to confirm whether the cap is specified in the T&Cs. At the moment there is no way of getting to these online as applicants are directed to phone Octopus to discuss their needs.

QrizB

My gas switch to Tracker completes next week, I'll let you know.