Octopus Tracker

bristolleedsfan

Griffindog said:

Apparently the standing charges are so high because we’re paying for the mess-ups of all the companies that went bust. 

Linked post explains why that is a false belief.

https://forums.moneysavingexpert.com/discussion/comment/80006666/#Comment_80006666

Mstty

bristolleedsfan said:

Griffindog said:

Apparently the standing charges are so high because we’re paying for the mess-ups of all the companies that went bust. 

Linked post explains why that is a false belief.

https://orums.moneysavingexpert.com/discussion/comment/80006666/#Comment_80006666

Typo missing the f off forums

bristolleedsfan

Mstty said:

bristolleedsfan said:

Griffindog said:

Apparently the standing charges are so high because we’re paying for the mess-ups of all the companies that went bust. 

Linked post explains why that is a false belief.

https://orums.moneysavingexpert.com/discussion/comment/80006666/#Comment_80006666

Typo missing the f off forums

Thanks  https://forums.moneysavingexpert.com/discussion/comment/80006666/#Comment_80006666

julianv

bristolleedsfan said:

Griffindog said:

Apparently the standing charges are so high because we’re paying for the mess-ups of all the companies that went bust. 

Linked post explains why that is a false belief.

https://forums.moneysavingexpert.com/discussion/comment/80006666/#Comment_80006666

Don't get me started on DNOs lol

Chrysalis

I have had the email now, Octopus reasoning is a bit suss.  I agreed to it but here is the picks of it, I did make screen grabs for every step as previously in this thread people only screen shotted the email.

Old Agile - excluding EPG subsidy.

21p SC

35p unit capped

New Agile

44.12p SC

100p unit capped

If you accept early, it still doesnt start until old Agile ends, in my case 1st July. (This also means dash will obviously show old tariff data, people read everything you do, emails, documents, t&c etc. I will post screenshots later)

The email claims they are unable the existing Agile because of EPG subsidies, they can only give customer EPG subsidies on variable tariffs.  As has been noted earlier in this thread this seems a bit up in the air as Agile was always advertised as a variable tariff but was fixed term.  They further state the EPG cap doesnt just reduce the cap (when above EPG rate) but also the actual unit price paid when above EPG cap.  So the EPG discount is their prime justification for not renewing on same terms. Of course my old agile was barely affected as its cap was just 2p above EPG rates. (not affected at all on the new 3k cap)

The email does not explain why this doesnt apply to people who are on old versions of the tracker tariffs, who signed up originally before a certain date, of course it wont explain that as customers are not expected to know thats actually happening.

As pasted earlier in this thread Octopus havent been purchasing the energy the normal way for tracker customers, instead they gambled it would be cheaper for them to follow the EPG route by hedging it, hoping it would be cheaper than the actual way they would buy it for tracker customers, that twitter reply was focused on tracker tariffs so possibly doesnt apply to Agile.

On page 236 of this thread bristolleedsfan stated after July, there will be no EPG payments at all as its based on the Ofgem cap level if they pay out.

https://forums.moneysavingexpert.com/discussion/comment/80036777/#Comment_80036777

This would mean either Octopus implement a pretend EPG, so reduce unit rate as if was EPG subsidised or the whole renewal terms reasoning is washed as its based on something that wont apply up until the next Ofgem cap date at the very earliest.  But I do suspect EPG eligibility might still apply, and just the gov statement is a bit of a misnomer.

If you click the "give me more agile" link in the email, you are taken to a terms and conditions screen to agree to the new terms (still penalty free exit no min term), this page interestingly does not present the cap, I even expanded the tariff box, it merely states the new SC rate and all unit prices as variable.  I was only told the cap after I agreed to the terms in the confirmation email.

Given the new SC now sucks, I will probably put myself on the electric tracker waiting list as as that has slightly favourable averaged out unit rates vs Agile.

The monthly cost difference on new SC is about £7 extra month. The same as about 1.5 units extra a day on averaged out current Agile unit rates (circa 17p).

bristolleedsfan might come to correct me as I may have misinterpreted his post.

My combined energy bill last month was around £65, so circa 10% increase.

Northern_Wanderer

I've had the email about my Tracker V3 fixed term coming to an end in June. Has anyone been given confirmation of what terms I'd be signing up to if I remain on the tarrif please? Are the caps and SC the same? Do I stay on V3 or will they put me on a current version? Thanks.

Alnat1

My V3 ends 17th June and I have asked to stay on Tracker even though I don't know what the terms will be. If it's not good I can change later.

Better than going SVT and having to wait 6 months to get back on Tracker.

QrizB

Northern_Wanderer said:

I've had the email about my Tracker V3 fixed term coming to an end in June. Has anyone been given confirmation of what terms I'd be signing up to if I remain on the tarrif please? Are the caps and SC the same? Do I stay on V3 or will they put me on a current version?

My Gas Tracker V3 ended a couple of weeks ago. I received the email saying they would move me to Flexible unless I asked otherwise.

I asked to stay on Tracker.

I am now on the current Tracker with no end date and the 30p gas cap.

Griffindog

I emailed to ask where my statement was (now sorted), if my Tracker had been renewed and what the caps are:

I hope rates don’t go up to that per kWh!!!

MWT

Griffindog said:

I hope rates don’t go up to that per kWh!!!

... well, you can't say they didn't warn you...