Octopus Tracker

Griffindog

As ever, gas is cheap when nobody needs it...

It’s a shame we can’t bottle it.

14.92p and 1.91p for me today (but that will be for tonight and tomorrow daytime as I submit readings each evening and it is charged to the day before).

Chrysalis

So 14 hours of electric around 9-12p today and average for day under 18p, gas under 2p.  To me electric cost is far more important than gas.

My next question QrizB, how do the suppliers contract energy from the wholesalers for normal flexible tariffs? As those havent dropped in cost but they also cant keep them unchanged for as long as fixed deals.

[Deleted User]

Chrysalis said:

So 14 hours of electric around 9-12p today and average for day under 18p, gas under 2p.  To me electric cost is far more important than gas.

My next question QrizB, how do the suppliers contract energy from the wholesalers for normal flexible tariffs? As those havent dropped in cost but they also cant keep them unchanged for as long as fixed deals.

The same way they do for all the others - a combination of all the various near- and mid-term markets, with the opportunity to re-sell and re-buy if the market changes in a 'beneficial' direction.  They don't do separate trading and contracts for fixed vs variable, it's just all wrapped up together in their acceptable risk profile.

macman

2.06p for me today on gas, the lowest it's ever been on Tracker v1. Just wish I'd moved the leccy at the same time, but I was still on a BG fix at the time, with a £100 exit fee.
This isn't specifically Tracker-related, but can anyone explain why retail gas prices are calculated in kWh, but wholesale gas prices are in therms?

wakeupalarm

macman said:

This isn't specifically Tracker-related, but can anyone explain why retail gas prices are calculated in kWh, but wholesale gas prices are in therms?

EU directive

macman

wakeupalarm said:

macman said:

This isn't specifically Tracker-related, but can anyone explain why retail gas prices are calculated in kWh, but wholesale gas prices are in therms?

EU directive

OK, but what is behind this? A therm is a old imperial unit, is it also used in the international wholesale market, or just in the UK?

ChaunceyGardiner

Goodness me, the Marex price is half what it was yesterday, but I don't suppose the Tracker price can get much lower than it already was.

QrizB

macman said:

wakeupalarm said:

macman said:

This isn't specifically Tracker-related, but can anyone explain why retail gas prices are calculated in kWh, but wholesale gas prices are in therms?

EU directive

OK, but what is behind this? A therm is a old imperial unit, is it also used in the international wholesale market, or just in the UK?

Unless someone can provide a reference to the specific EU direwctive, I think that comment was a joke not a serious statement.

The Dutch TTF, for example, is priced in Euros per megawatt-hour.

I suspect that it's just that the UK gas market has always been priced in therms (which are more-or-less 100 cubic feet, which in turn is what imperial gas meters measured) and it's too much effort to change.

ChaunceyGardiner said:

Goodness me, the Marex price is half what it was yesterday, but I don't suppose the Tracker price can get much lower than it already was.

Are you sure about that? Because I get this, which is more expensive than today:

ChaunceyGardiner

QrizB said:

Are you sure about that? Because I get this, which is more expensive than today:

Ah, my bad, I misremembered yesterday's 19 as 90.

SJMALBA

MWT said:

As ever, gas is cheap when nobody needs it...

A couple of tweets from Greg...

In this part of the world, autumn arrived in the middle of September, so the heating has been on ever since - woke up to a fully frosted car this morning...