Octopus Tracker

EnergyToad

tlcgrantham said

Why switch to variable now? The rate is the same as you’re paying now but without the chance of a reduction when the price dips. 

Because I will pay above EPG if the wholesale price goes high enough (after EPG is applied my tariff caps at 38p elec, 12p gas).
Elec becomes 30p more per day and gas on a cold day is an extra £1.
It's whether that's worth tolerating for a few months in the hope it drops again and I don't have enough info to make that decision.

tlcgrantham

According to Octopus website under historical tariffs July V1 tracker has a maximum after EPG of just over 10p for Gas and 33p electricity i.e. exactly what you’re paying now. 

Spoonie_Turtle

EnergyToad said:

 I assume some are in the same boat.

We're in a similar boat but our EPG is 35.06p so less than 3p difference between the maximum.  Which, yes it would add up being all-electric, but without doing any sums yet (and I don't know what our winter usage will be, can't really refer to last year because we've made changes to try to cut down) my gut feeling is that it's probably worth holding on for when it dips again.

And for doing the calculations, I would include everything since October because we've saved money compared with the EPG for what, 7 weeks before prices went up.  If October-March we only break even, it would still be worth it to me for whenever prices dip and we start saving again.

[I guess if I were being really fair I should include September when we were paying way above SVT, certainly overpaid there but for peace of mind and in the hopes of saving after January, before the EPG was announced.  Maybe October's saving offset that instead.  But still.]

One major factor as well is knowing we couldn't go back onto this Tracker version again, and not knowing what version would be on offer, if any at all, if we went onto SVT then wanted to change back further down the line.

I appreciate that only having one fuel and a higher EPG rate makes the calculation very different for us, though.

Spoonie_Turtle

tlcgrantham said:

According to Octopus website under historical tariffs July V1 tracker has a maximum after EPG of just over 10p for Gas and 33p electricity i.e. exactly what you’re paying now. 

That's just today's price.

With electricity UR capped at 55p, after 17p EPG discount that's a maximum of 38p.  Similar principle with gas, whatever the Octopus Tracker cap and the EPG discount are.

tlcgrantham

Spoonie_Turtle said:

tlcgrantham said:

According to Octopus website under historical tariffs July V1 tracker has a maximum after EPG of just over 10p for Gas and 33p electricity i.e. exactly what you’re paying now. 

That's just today's price.

With electricity UR capped at 55p, after 17p EPG discount that's a maximum of 38p.  Similar principle with gas, whatever the Octopus Tracker cap and the EPG discount are.

Apologies for not fully grasping the situatio.

QrizB

Chrysalis said:

10.24p for gas today, if its exact same tomorrow then I expect thats my cap.

Tomorrow's gas price at Marex is about 350p/therm ...

Griffindog

QrizB said:

Tomorrow's gas price at Marex is about 350p/therm ...

What does that equate to for us?

QrizB

Griffindog said:

QrizB said:

Tomorrow's gas price at Marex is about 350p/therm ...

What does that equate to for us?

We last saw prices this high in mid-August, according to Guy Lipman's site.

*Uncapped and no-EPG* Tracker would be around 15p/kWh.

The price you see will depend which version of Tracker you're on. If capped at 6p (v1) or 11p (v2 or v3), it won't be any more than today's price. If your Tracker has a higher cap (any version with a month) you might see a higher price tomorrow.

Spies

10p is bad enough, yesterday I used 60kWh 

Alnat1

Yesterday was our highest use since the heating went on, 49kWh but it was chilly. Then again, got home from work at 4pm to find bathroom window still wide open after hubby's 11am shower, grrrr.

I think we all knew the prices would go up once it got colder and we needed to use more.