Octopus Tracker

SJMALBA

Spoonie_Turtle said:

SNIP

zoonyx said:

How many tracker tariffs are there now? I think I’m on the 28th august one but not sure what this means when people talk to about v2/v3?

v2/v3 were before the July 2022 version.  There's also the original v1 but I don't know if anyone's still on that now.

v2 launched early April (IIRC), so still likely to be some (lucky people!) on v1 for months to come.

SJMALBA

zoonyx said:

How many tracker tariffs are there now? I think I’m on the 28th august one but not sure what this means when people talk to about v2/v3?

v1, v2, v3, July 2022v1, August 2022v1.

MWT

For Tracker, your original tariff caps remain in place, so whatever else happens the price will not go above that level.

So everyone on Tracker V3 and earlier has nothing to worry about as their original tariff cap is effectively reduced to the new EPG cap (if it was higher).

It is only those on the July or August Trackers who run the risk of having a price set above the new EPG cap, and even then only marginally for the July Tracker.

SJMALBA

As Octopus' CSAs, even on Twitter, don't always give the correct information (to be euphemistic about it!), what we really need is some expensive electricity/gas, for absolute confirmation of how the application of EPG to Tracker is going to work in practice, but, Sod's law, tomorrow will see the cheapest electricity in months (circa 21p/kWh)... can't catch a break! 

fryedslyce

Deleted_User said:

Griffindog said:

Deleted_User said:

Griffindog said:

• 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

Does this mean that the previous 40p cap no longer applies?

Your dynamic unit rate can't go above your cap.  It's written like this so the logic can be applied to whichever version you are on with whatever cap that entails.

So do we think that anyone on V.2 or V.3 will pay a maximum of 40p still if the daily rate goes over 57p?

Well that's what I think, but I'm not Greg.

MWT said:

For Tracker, your original tariff caps remain in place, so whatever else happens the price will not go above that level.

So everyone on Tracker V3 and earlier has nothing to worry about as their original tariff cap is effectively reduced to the new EPG cap (if it was higher).

It is only those on the July or August Trackers who run the risk of having a price set above the new EPG cap, and even then only marginally for the July Tracker.

So, still confusing then, is 34p the max or 40p for v3?

bristolleedsfan

So, still confusing then, is 34p the max or 40p for v3?

34p maximum, keep product cap as well as now get EPG cap

https://twitter.com/OctopusEnergy/status/1575823245420466177

"the Octopus cap still applies, and is in addition to the EPG discount"

Griffindog

We can just celebrate today’s rates of 19.89 and 7.86 (Yorkshire) and worry about whether future days are capped at 34 or 40 when the time comes.

k_man

bristolleedsfan said:

So, still confusing then, is 34p the max or 40p for v3?

34p maximum, keep product cap as well as now get EPG cap

Can you clarify this?
If the maximum is 34p, then the product cap would be irrelevant (as higher).

I read the email as (my bit in bold)

Essentially, this means:

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
Up to a max of your product cap

Unless you think the product cap is applied first, so the dynamic unit rate never goes above it? That sounds like double capping!

As suggested above, we will see when rates get above 52p, and the billing system is updated.

movingon

I asked on Twitter specifically about V3 caps and this is the reply I received: "the caps for Tracker V3 haven’t changed - the way the Energy Price Guarantee is applied will mean any daily rate that exceeds 34p will get a max reduction of 17p and the equivalent for gas".
I think I know what it means, but not 100%. If the cap is still 40p for electricity, why not just say so?

[Deleted User]

Order of application - is it tariff cap then epg discount or the other way around.

That’s all they need to answer.