Octopus Tracker

Griffindog

It was 33.03p on 3rd October so I assumed that had hit the cap too.

Alnat1

Yorkshire? I get that cap on my Agile tariff.

SJMALBA

Spoonie_Turtle said:

QrizB said:

Spoonie_Turtle said:

Wholesale electric price for tomorrow is over double today's.

Electricity in tomorrow's 1700-1800 slot is £1 a kWh (£1000/MWh) at Nordpool!

I don't know what formula they were using to calculate Agile rates on the newest version but that would have been the cap hit already, without EPG intervention.


When they sent the e-mail about how the EPG would work on Tracker, I interpreted it to mean that with the 55p cap and 17p discount, the maximum unit rate for us would be 38p.  But today, when the full price would have been above that, ours is 35.06p - the EPG rate for our region.  I could cry with happiness, that ~3p/unit saving will be most welcome over winter.

I hate to be the bearer of bad tidings, but I think your original interpretation is correct - today's UR is still not high enough for your maximum to have been reached; EPG has reduced it down to the floor. If you look at the historic Tariffs, all Trackers (bar Tracker v1 and October 2022 v1) are all the same.

For me, electricity EPG floor was applied twice in October; today is the first time on November,

This is my understanding of how it works, confirmed by a senior manager at Octopus (not that that's a 100 % guarantee!)

'To confirm, the UR caps for each version of Tracker are applied first, then the EPG reduction, with a maximum reduction to the EPG floor?

So, in practice, EPG effectively reduces the respective UR caps for each version of Tracker? i.e. for electricity, as an example:

Tracker v2/v3 was 40p, now 34p (energy region average)
Tracker July 2022 v1 was 55p, now 38p
Tracker August 2022 v1 was 78p, now 61p'

SJMALBA

New Tracker:

SJMALBA

Wholesale DA up again today - for me, tomorrow would be 51.08pkWh, without reduction.

Spoonie_Turtle

SJMALBA said:

Spoonie_Turtle said:

QrizB said:

Spoonie_Turtle said:

Wholesale electric price for tomorrow is over double today's.

Electricity in tomorrow's 1700-1800 slot is £1 a kWh (£1000/MWh) at Nordpool!

I don't know what formula they were using to calculate Agile rates on the newest version but that would have been the cap hit already, without EPG intervention.


When they sent the e-mail about how the EPG would work on Tracker, I interpreted it to mean that with the 55p cap and 17p discount, the maximum unit rate for us would be 38p.  But today, when the full price would have been above that, ours is 35.06p - the EPG rate for our region.  I could cry with happiness, that ~3p/unit saving will be most welcome over winter.

I hate to be the bearer of bad tidings, but I think your original interpretation is correct - today's UR is still not high enough for your maximum to have been reached; EPG has reduced it down to the floor. 

*facepalm* yes of course, the UR would need to be over 52p to go above the floor.  Not sure why I forgot that. 
Thanks for setting me straight, better to be prepared than have an unpleasant surprise when/if it happens.

QrizB

SJMALBA said:

Wholesale DA up again today - for me, tomorrow would be 51.08pkWh, without reduction.

Gas is high tomorrow, too. Marex is 250-290p/therm, so 8.5-10p/kWh wholesale.

Chrysalis

bristolleedsfan said:

Chrysalis said:

QrizB said:

Chrysalis said:

QrizB said:

Chrysalis said:

Alnat1 said:

The Tracker gas is still doing ok, 5.28p today (Yorkshire)

Yep the gas cost has barely moved upwards since temps plunged, but electricity costs are creeping up sadly and leccy makes up most of my bill, still very grateful for getting things cheaper than EPG.

Almost 6p/kWh for me today, and (judging by Marex) likely to be higher again tomorrow.

Was 5 point something at the time I posted for me, but it is indeed higher today now at 7.17p.  So on a upward trend now although still below EPG.

Yes, 7.38p/kWh for gas and 25.75p/kWh for electricity in Southern region today.

Anyone still on v1 will be appreciating their 6p gas cap!

 so it is indeed a massive shame Octopus pulled the tariff as even on the £1 tariff, would barely be hitting 45p for a few hours at peak and then cheaper rest of day for most of the last couple of months. 

If they had adhered to apparent EPG reduction rules maybe they would not have had to pause Agile and Tracker tariffs.

Interesting both the reference to December 9th and also they stating EPG reduction will not reduce below 34p kWh

Leaves me confused, because as you said that contradicts what they have done for existing customers.

--

Today my electric costs are pegged at regional EPG rates for the entire day.  33.02p.

Chrysalis

SJMALBA said:

New Tracker:

Am I the only one who thinks its a bit odd its now available the moment prices are back up?

I am guessing Agile is still a no go.

Griffindog

Have we hit both caps today? 33.03p and 10.24p (Yorkshire)?