Octopus Tracker

milo_2020

Go is 40p ?

Spoonie_Turtle

milo_2020 said:

Go is 40p ?

With a 7.5p night rate.  The average 34p is for single rate tariffs.

Steve_79_P

The raw maths for my tariff, based purely on proportion of time on each rate, is:

(5/6 * 39.25)+(1/6 * 7.5) = 33.96

This compares to the EPG variable rate of about 33.4

But that doesn't account for all the load shifting that I, and presumably everyone else on Go, does to the off peak time of day.

I will use way more than one sixth of my electricity between 0030 and 0430, (which is kind of the point of the tariffs), probably nearer to a third, which will give:

(2/3 * 39.25) + (1/3 * 7.5) = 28.66

If you're on Go and your average rate ends up higher than the EPG then you are on the wrong tariff and should switch to EPG

savers_united

Spies said:

Why did it take them so long to email Go customers if they were always under the EPG? 

Not sure as all current Go / Go Faster tariffs will work out below the EPG cap, so would have been a easy one to get sorted early, however based on the email it does state the Gov't rules are strict on how its applied hence why Go tariffs don't get a discount even when peak rate is above the EPG. So be interesting for Tracker / Agile as they could go weeks below the EPG and not really classed as a fix or SVT.. 

MWT

milo_2020 said:

SJMALBA said:

milo_2020 said:

Am I missing something here what is the EPG?

Energy Price Guarantee aka Westminster government's 'price cap'.

Which is what? I am asking because I can't see Go or Go faster cheaper than this lol

It is a weighted average and the low rate being so very low pulls the average down to below the cap, which is what a number of us have been saying for a while, so no surprise there.

Tracker/Agile are going to be more interesting...

Spoonie_Turtle

Steve_79_P said:

If you're on Go and your average rate ends up higher than the EPG then you are on the wrong tariff and should switch to EPG

Someone on Twitter was moaning about how unfair it is when he doesn't charge his EV every night, so doesn't benefit from the off-peak rates.  The customer service response was basically this ^.  Boggles my mind how someone with a 7.5p overnight rate wouldn't load shift to make use of it (even before I came to this forum and was not clued up at all, I understood that principle for dual-rate tariffs).  Nowt as strange as folk …

taw50

I just got an email from Octopus regarding my tracker (55p/kWh) - it looks like if the rate is above 34p/kWh, but below 52p/kWh, the rate will be discounted to 34p/kWh - if it's above, it will be discounted by about 17p/kWh. If it's below, it won't be changed.

brook_heather

Yes it looks like for Tracker it will be capped on a daily basis so we get the benefit when wholesale prices are cheaper - very happy with that result - makes up for the last few months of frequently paying 40p/11p.  I wonder how this will be calculated once my 12 month cap ends - I assume we get moved to the latest Tracker version available at the time.

Same email for Agile - so I assume the 30 minute price will be capped as well not just the daily average?

·       If your dynamic unit rate is less than 34p / kWh — congrats, you’re getting a better price than most

·       If your dynamic unit rate is 34-52p / kWh, it will be discounted to 34p / kWh automatically

·       If your dynamic unit rate is above 52p / kWh, it will be discounted by 17p automatically — so 78p / kWh will be reduced to 61p / kWh

QrizB

Steve_79_P said:

The raw maths for my tariff, based purely on proportion of time on each rate, is:
(5/6 * 39.25)+(1/6 * 7.5) = 33.96
This compares to the EPG variable rate of about 33.4

If you treat it like an E7 tariff, it's assumed you use 42% of your energy on the night rate and 58% on the day rate.

(0.58 * 39.25)+(0.42 * 7.5) = 30.685

I will use way more than one sixth of my electricity between 0030 and 0430, (which is kind of the point of the tariffs), probably nearer to a third, which will give:

(2/3 * 39.25) + (1/3 * 7.5) = 28.66

My day/night split is much the same as yours, about 2/3rds on the night rate. I'm happy enough with the current prices.

taw50 said:

I just got an email from Octopus regarding my tracker (55p/kWh) - it looks like if the rate is above 34p/kWh, but below 52p/kWh, the rate will be discounted to 34p/kWh - if it's above, it will be discounted by about 17p/kWh. If it's below, it won't be changed.

That's good to hear! I haven't had my email yet, but I'm on 11p gas Tracker so I'm not expecting much of a change ...

Griffindog

So does that mean that we will effectively have new caps of 34p and 10.3p on V.3? That is excellent news - we get to have our cake and eat it too. We can’t lose on that deal. It will have been worth the extra we have paid over the last 3 months.  I shall eagerly await my email.