Octopus Tracker

bristolleedsfan

https://twitter.com/OctopusEnergy/status/1575901178541608962

 "the caps for Tracker V3 haven’t changed - the way the EPG is applied will mean any daily rate that exceeds 34p will get a max reduction of 17p and the equivalent for gas"

Umiamz

Planeteer said:

This thread, despite its title seems all about Agile rather than Tracker?

Was anyone else about the confirm if EPG discounts will be subtracted from Tracker caps for a new reduced cap? 

Agile has been mentioned a few times but the conversation is still mainly about Tracker. If you read back a few pages you'll see that your question has already been answered.

SJMALBA

ChaunceyGardiner said:

SJMALBA said:

Tomorrow's electricity UR up significantly from today, but still comfortably below EPG - for me, 29.67p/kWh.

Where can you see tomorrows rate?

Get the Electricity DA price from Nordpool (switch from EUR to GBP), plug this into the respective Octopus formula for your energy region, from the Tracker FAQ, et voilà!, tomorrow's UR.

https://www.nordpoolgroup.com/en/Market-data1/GB/Auction-prices/UK/Daily/?view=table

SJMALBA

Did any version of Agile have a cap of 52p/kWh?

The 'dynamic pricing' bit on the Tracker email does seem to be identical to the Agile one? Perhaps they forgot to change the reference of 52p (for Agile) to 55p (for Tracker) (though that would mean July 2022 v1 cap down to 38p, rather than 34p, so that doesn't make sense either)?

savers_united

So from the emails and replies on twitter etc it seems that those on Tracker v2&v3 it's a no brainer to stay put, as the rate will never exceed the EPG but you can benefit from days when it falls below. The later versions of tracker have higher caps so will be reduced by upto 17p and 4.2p on days that it exceeds the EPG rate but that may still be above it, so for these customers there is a calculation to be made if the days below the EPG are enough to bring down the average so that it works out cheaper than the SVT.

I think that's right. 

bristolleedsfan

SJMALBA said:

Did any version of Agile have a cap of 52p/kWh?

52p/kWh appears to be previously announced price cap level, being used for example purposes ...

brook_heather

savers_united said:

So from the emails and replies on twitter etc it seems that those on Tracker v2&v3 it's a no brainer to stay put, as the rate will never exceed the EPG but you can benefit from days when it falls below. The later versions of tracker have higher caps so will be reduced by upto 17p and 4.2p on days that it exceeds the EPG rate but that may still be above it, so for these customers there is a calculation to be made if the days below the EPG are enough to bring down the average so that it works out cheaper than the SVT.

I think that's right. 

No that's not how it is working - the tracker cap is applied after the "up to" 17p EPG reduction so it can still be in the range 34p to 40p so above EPG.  For example if the dynamic rate for today was 60p then a 17p reduction would be applied to 43p and then for tracker v3 a cap of 40p is applied to bring it to 40p.  If the dynamic rate was 55p then you would pay 38p.  So still a gamble for tracker v3 if prices are consistently above 51p (34p+17p).

bristolleedsfan

brook_heather said:

savers_united said:

So from the emails and replies on twitter etc it seems that those on Tracker v2&v3 it's a no brainer to stay put, as the rate will never exceed the EPG but you can benefit from days when it falls below. The later versions of tracker have higher caps so will be reduced by upto 17p and 4.2p on days that it exceeds the EPG rate but that may still be above it, so for these customers there is a calculation to be made if the days below the EPG are enough to bring down the average so that it works out cheaper than the SVT.

I think that's right. 

No that's not how it is working - the tracker cap is applied after the "up to" 17p EPG reduction so it can still be in the range 34p to 40p so above EPG.  For example if the dynamic rate for today was 60p then a 17p reduction would be applied to 43p and then for tracker v3 a cap of 40p is applied to bring it to 40p.  If the dynamic rate was 55p then you would pay 38p.  So still a gamble for tracker v3 if prices are consistently above 51p (34p+17p).

On what basis of fact have you got for saying that, Octopus answered yesterday that 35p cap becomes 34p cap. ( referring to Agile, same principle though)

https://twitter.com/OctopusEnergy/status/1575823223102394369

"the EPG discount is in addition to your Octopus cap (we won't change your cap during your fixed term). So yes, if your cap is currently 35p, you've now essentially got a 34p cap"

savers_united

brook_heather said:

savers_united said:

So from the emails and replies on twitter etc it seems that those on Tracker v2&v3 it's a no brainer to stay put, as the rate will never exceed the EPG but you can benefit from days when it falls below. The later versions of tracker have higher caps so will be reduced by upto 17p and 4.2p on days that it exceeds the EPG rate but that may still be above it, so for these customers there is a calculation to be made if the days below the EPG are enough to bring down the average so that it works out cheaper than the SVT.

I think that's right. 

No that's not how it is working - the tracker cap is applied after the "up to" 17p EPG reduction so it can still be in the range 34p to 40p so above EPG.  For example if the dynamic rate for today was 60p then a 17p reduction would be applied to 43p and then for tracker v3 a cap of 40p is applied to bring it to 40p.  If the dynamic rate was 55p then you would pay 38p.  So still a gamble for tracker v3 if prices are consistently above 51p (34p+17p).

Makes sense thanks for clarifying, based on that the Gas on Tracker v2&v3 is still a good bet then with an 11p cap worst case, the daily price would need to exceed 14.5p to pay anymore than the EPG but a day like today when gas is at 8p your benefiting. 

brook_heather

bristolleedsfan said:

brook_heather said:

savers_united said:

So from the emails and replies on twitter etc it seems that those on Tracker v2&v3 it's a no brainer to stay put, as the rate will never exceed the EPG but you can benefit from days when it falls below. The later versions of tracker have higher caps so will be reduced by upto 17p and 4.2p on days that it exceeds the EPG rate but that may still be above it, so for these customers there is a calculation to be made if the days below the EPG are enough to bring down the average so that it works out cheaper than the SVT.

I think that's right. 

No that's not how it is working - the tracker cap is applied after the "up to" 17p EPG reduction so it can still be in the range 34p to 40p so above EPG.  For example if the dynamic rate for today was 60p then a 17p reduction would be applied to 43p and then for tracker v3 a cap of 40p is applied to bring it to 40p.  If the dynamic rate was 55p then you would pay 38p.  So still a gamble for tracker v3 if prices are consistently above 51p (34p+17p).

On what basis of fact have you got for saying that, Octopus answered yesterday that 35p cap becomes 34p cap. ( referring to Agile, same principle though)

https://twitter.com/OctopusEnergy/status/1575823223102394369

"the EPG discount is in addition to your Octopus cap (we won't change your cap during your fixed term). So yes, if your cap is currently 35p, you've now essentially got a 34p cap"

On the basis of the email I received from Octopus:

If your dynamic unit rate is above 52p / kWh, it will be discounted by 17p automatically

So if it is 55p it will be reduced to 38p not 34p.  I have a cap of 40p so the reduced price is under the cap and I will pay the reduced 38p.  Why do you think it would be 34p?  This thread is for tracker not agile but I believe agile will behave the same and you will pay up to your cap where the pre-discount price is above 52p.