Octopus Tracker

tlcgrantham

Marex day ahead for 17th seemed to indicate around 4p for gas. 

QrizB

tlcgrantham said:

Marex day ahead for 17th seemed to indicate around 4p for gas. 

I was thinking the same. We can be wrong together

Chrysalis

Wow 4.59p gas today and below 9p tomorrow for electric (lowest not avg price), 

Are these just low dailies?  As i am curious why this isnt bringing out new nice fixed deals for those people on legacy billing systems.

Shame daily SC isnt affected as on gas that has to be a big bulk of my gas bill easily now.

[Deleted User]

Would you offer a fix based on a few days with a couple of hours of cheap day-ahead market prices?

Even on that market (which isn't really the important one for hedging for fixed contracts) the price per MWH has varied between £38.79 and £302.09 in the last five days.

QrizB

Chrysalis said:

Are these just low dailies?

Yes, they're just low dailies. Right at the moment (ie. this weekend and maybe into next week) there's plenty of gas being delivered to the UK and, with high wind speeds, less demand for it from the CCGTs.

As i am curious why this isnt bringing out new nice fixed deals for those people on legacy billing systems.

If you want to offer someone a 12-month fix, and don't want to risk going bust like all those companies did last year, you need to buy 12 months worth of gas on the futures market up-front to cover it. And gas futures are still high, over 400p/therm (13p/kWh) all winter and well in excess of 300p (10p/kWh) through to next winter. Those are wholesale prices so you'd be looking at suppliers offerin g a retail fix closer to 16p/kWh. No-one is going to accept a deal like that when the EPG is only 10.3p/kWh.

Futures prices here:
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data

("Normal" gas prices were around 40-50p/therm, which shows how far prices will have to fall before we get near the 3p/kWh we were paying two years ago.)

Chrysalis

That makes sense thanks for the explanation QrizB

bristolleedsfan

Octopus Tracker electricity today is 21.62p/kWh subject to regional variation .

Griffindog

Everything could change. The Government are changing their minds on all things financial and there is a suggestion that the EPG may only be in place until April now. It seems to be changing by the hour.

powerful_Rogue

powerful_Rogue said:

Just a quick question. Joined Octopus at the start of September and was on the Gas tracker rate. However Octopus were using the gas meter serial number for the old meter and not the smart meter.

I sent them photos and a few days ago the changed this over on my account. However my gas account is now showing Flexible Octopus April 2022 v1.

Is it worth asking to switch back to the Gas tracker that I was on - July 2022 v1?

Guessing it might be worth me contacting Octopus and asking to be placed back onto this tariff I was knocked off due to the meter issue judging by todays announcement. Was fixed until September 2023.

tlcgrantham

Once again Marex day ahead price indicates a very cheap Gas Tracker price for tomorrow