Octopus Energy reviews: Give your feedback

bristolleedsfan

https://energy.guylipman.com/sm/compare Region (for time-varying tariffs) A-P for regions

Spies

Trackers are 12 months minimums? And would lose the Loyal Octopus discount (off standing charge) I assume?

masonic

Spies said:

Trackers are 12 months minimums? And would lose the Loyal Octopus discount (off standing charge) I assume?

There's no such thing as a minimum contract term at Octopus, but notionally it's 12 months. You'd not get the discount while you're on Tracker.

QrizB

Spies said:

Trackers are 12 months minimums?

Sort of. you can switch away at any time for no fee. Octopus's T&C say they can vary the cap or change the pricing formula, but to date they haven't done so; when they recently changed the cap and then the daily SC, they did so by replacing Tracker V1 with V2 and then V3. Customers on Tracker V1 still have their V1 rates, and the small number of people who joined while V2 was current still have theirs.

We're expecting that when V1 and V2 customers come to the ned of their 12-month terms, they'll be offered the chance to renew on V3 (or Vx, is V3 has itself been superseded by then).

Spies said:

And would lose the Loyal Octopus discount (off standing charge) I assume?

I imagine so, yes.

I wasn't eligible for the discount in the first place so it wasn't part of my calculations!

QrizB

For anyone who's interested, Tracker V3 is capped at 11p/kWh for gas and 40p/kWh for electricity. In my region the standing charges are the same as the current SVT, 27.22p/day for gas and 43.12p/day for electricity.

If Ofgem's notional "average" dual-fuel customer was on Tracker V3 and the price was at the cap for a full year, it would cost £2736 - a little under the rumoured £2800/yr October cap.

SGB89

So I thought I would update you guys on the tracker situation. I'm in a unique situation as I was given a sign up link that quoted v2 prices and then I ended up being put on v3.

After some back and forth I did however end up getting moved to v2 with a message saying that they can change the v2 prices at anytime as the entire tariff is variable - however the information I got via the link did not show the standing charge as variable. As we've talked about on this forum already.

I do respect them for making that goodwill gesture to move me to v2 because they did have a strong argument for not doing that.

So if you have been quoted/given v2 prices and yet ended up on v3 I would try to insist you be put on v2.

SGB89

Some information to give while I've been on v3 

If you have a Landis electric and gas meter (original SMETS1) and the Geo IHD octopus send your daily tracker prices to the IHD and it shows the correct SC/rates in £ on the display which is great. I am really happy that octopus are supporting these dinosaur meters.  

QrizB

More Tracker info (sorry to anyone who's bored of this).

I got my first Tracker bill today (I gave a meter reading yesterday in a fit of enthusiasm). Over the last 15 days my gas price has averaged 3.79p + VAT = 3.98p/kWh.

Obviously there's no guarantee it will continue to be that cheap!

bristolleedsfan

QrizB said:

 Over the last 15 days my gas price has averaged 3.79p + VAT = 3.98p/kWh.

Obviously there's no guarantee it will continue to be that cheap!

Not currently that cheap - most recent 9 consecutive days have been more expensive than 3.98p/kWh  https://energy.guylipman.com/sm/gastracker

As you will know and as everybody can see gas kWh rate is on an upward trajectory which might be the reason you gave a meter reading after 15 days .....

SGB89

I've asked the owner of that tracker website to implement average pricing since the daily rate isn't particularly helpful when you are being billed on a monthly average.

If he doesn't want to then I'll scrape the data and implement it on my server