Octopus Tracker

macman

My Tracker gas rate has spiked up to 10.23p per kWh this morning. Not sure whether to move to SVT today or wait until 1/10?
It will be interesting to see if the freeze announcement today will have any effect on wholesale prices.

Chrysalis

Wait it out, some people seem to be reacting too quickly, the suppliers will likely explain the process on fixed deals before 1st October.

macman

If Martin's hunch about pro-rata reductions on fixed tariffs as well as SVT is correct, then I'm still trying to get my head around how this will work on Tracker? Do you use the same calculation and then apply a 30%-ish reduction at the end of it?

Umiamz

macman said:

If Martin's hunch about pro-rata reductions on fixed tariffs as well as SVT is correct, then I'm still trying to get my head around how this will work on Tracker? Do you use the same calculation and then apply a 30%-ish reduction at the end of it?

It may not apply to specialist tariffs like Tracker and Agile - we'll just have to wait and see.

macman

Tracker gas daily rate is up to 14.47p today, so nearly at the 16p maximum.

SJMALBA

macman said:

If Martin's hunch about pro-rata reductions on fixed tariffs as well as SVT is correct, then I'm still trying to get my head around how this will work on Tracker? Do you use the same calculation and then apply a 30%-ish reduction at the end of it?

That would be one option, but another would be to reduce the UR caps to whatever the SVT URs are, so that you would never pay more than you would on SVT, but still have the potential to pay less?

However, as @Umiamz points out, we don't know if this will apply to tariffs like Tracker at all - Tracker is a variable tariff, with a fixed term, but if they're applying it to tariffs other than SVT, why should another variable tariff not also benefit? If they didn't, then they are disincentivising use of such tariffs, at at time of increasing talk of energy rationing, load shifting etc.

Whether those responsible for the plans considered anything other than SVT and Fixed tariffs is another matter, not to mention whether such considerations would be of any concern to Truss et al.

Of course, I, like everyone else I imagine, am trying to make sense of the limited info. we have, and no doubt applying some wishful thinking, while working through the implications of these changes, to decide whether staying on Tracker is the best option...?

[Deleted User]

SJMALBA said:

Whether those responsible for the plans considered anything other than SVT and Fixed tariffs is another matter, not to mention whether such considerations would be of any concern to Truss et al.

I'm not even sure they considered both of those options initially.

savers_united

Will need to wait and see how the rates are calculated, but it's certainly differ for a number of Octopus tariffs, agile and tracker as they can often drop, if they put in a cap that is aligned to the SVT then I guess on paper it would be a no brainer for everyone to switch to tracker as you will pay no more than the SVT but could benefit from a price fall. 

Ultimately these tariffs have no exit fees so you can switch to the SVT at anytime at no cost and that may be the option you get or to remain on Tracker and accept the current caps in place... 

Chrysalis

savers_united said:

Will need to wait and see how the rates are calculated, but it's certainly differ for a number of Octopus tariffs, agile and tracker as they can often drop, if they put in a cap that is aligned to the SVT then I guess on paper it would be a no brainer for everyone to switch to tracker as you will pay no more than the SVT but could benefit from a price fall. 

Ultimately these tariffs have no exit fees so you can switch to the SVT at anytime at no cost and that may be the option you get or to remain on Tracker and accept the current caps in place... 

It certainly would drive demand for smart meters if that happens.  

Spies

They could close tracker and Agile to new customers though