Octopus Tracker

masonic

tghe-retford said:

bristolleedsfan said:

Xbigman said:

sjnexusmse said:

Doc_N said:
Energy prices could spike this winter forcing governments to step in and subsidise bills again, the head of the International Energy Agency has said.

If the Chinese economy strengthens quickly and there is a harsh winter, gas prices could rise, putting pressure on consumers, Fatih Birol said.

Based on this, could it be a good idea to just switch electricity to tracker and keep gas flexible to lower the risk? Or is electricity also likely to spike

. Remember that wholesale prices, and therefore Tracker prices, lead the way up as well as down. It could be an uncomfortable run up to the 1st of January for Tracker customers. After the 1st of January the OFGEM cap is likely to even out with wholesale rates and then Tracker should lead the market down as winter ends. 


Darren

 "It could be an uncomfortable run up to the 1st of January for Tracker customers" 

I fail to see the relevance of that date for Tracker customers
OFGEM observation period for cap level 1 January - 31 March 2024 will conclude during November 2023, any winter wholesale increase/spike after that observation period will only effect tracker customers.

All Tracker will do is bring reality to people before everyone else. That energy will still have to be paid for by everyone, it's a decision of whether you do so now or kick the can down the road.

It's clear that people have been and are saving every day by being on Tracker, while in the future Tracker rates may move above SVR, so at the moment Tracker looks like the way of kicking the can down the road, and potentially avoiding things priced into SVR.

bristolleedsfan

tghe-retford said:

bristolleedsfan said:

Xbigman said:

sjnexusmse said:

Doc_N said:
Energy prices could spike this winter forcing governments to step in and subsidise bills again, the head of the International Energy Agency has said.

If the Chinese economy strengthens quickly and there is a harsh winter, gas prices could rise, putting pressure on consumers, Fatih Birol said.

Based on this, could it be a good idea to just switch electricity to tracker and keep gas flexible to lower the risk? Or is electricity also likely to spike

. Remember that wholesale prices, and therefore Tracker prices, lead the way up as well as down. It could be an uncomfortable run up to the 1st of January for Tracker customers. After the 1st of January the OFGEM cap is likely to even out with wholesale rates and then Tracker should lead the market down as winter ends. 


Darren

 "It could be an uncomfortable run up to the 1st of January for Tracker customers" 

I fail to see the relevance of that date for Tracker customers
OFGEM observation period for cap level 1 January - 31 March 2024 will conclude during November 2023, any winter wholesale increase/spike after that observation period will only effect tracker customers.

All Tracker will do is bring reality to people before everyone else. That energy will still have to be paid for by everyone, it's a decision of whether you do so now or kick the can down the road.

Nothing that has been said by anyone quoting that post has answered relevance of  specific date 1 January as far as tracker customers are concerned posted by Xbigman earlier today.

 "It could be an uncomfortable run up to the 1st of January for Tracker customers" 

Xbigman

Nothing that has been said by anyone quoting that post has answered relevance of  specific date 1 January as far as tracker customers are concerned posted by Xbigman earlier today.

 "It could be an uncomfortable run up to the 1st of January for Tracker customers" 

I changed my phrasing  so that instead of the 1st of Jan I said 1st quarter of 2024. That's the significance of that date, its when the OFGEM price cap for the 1st quarter of 2024 begins and is the 1st time that the OFGEM cap would be able to react to rising wholesale prices in the late 3rd quarter/early 4th quarter of 2023. Its when the gap between wholesale rates and the OFGEM cap should narrow in a rising market.
Its also somewhat significant as its early Jan that weather forecasters can start to say whether or not its going to be a mild winter with any confidence. When we know how mild winter will be that wholesale day rates tend to drop. 
All IMO of course. The last three winters have all had factors that skewed prices a lot and its difficult to draw any firm conclusions. IE last year wholesale prices had a significant spike at the end of August that I suspect would see a mass bale out by many of those who just signed up to Tracker on the 1st of July.



Darren

bristolleedsfan

Tracker tariff should be available to change to via online dashboard from Friday    Source  Online Sun 

Griffindog

bristolleedsfan said:

Tracker tariff should be available to change to via online dashboard from Friday    Source  Online Sun 

I wonder if the caps will be £1.00/30p and what will the standing charges be?

bristolleedsfan

Griffindog said:

bristolleedsfan said:

Tracker tariff should be available to change to via online dashboard from Friday    Source  Online Sun 

I wonder if the caps will be £1.00/30p and what will the standing charges be?

Caps quoted are the same, should they launch a new version will show up within all tariff listings, nothing to suggest they will at this stage.

https://www.thesun.co.uk/money/22915638/octopus-energy-supplier-tracker-tariff-cheaper-ofgem-price-cap/

m_c_s

Reports today that European countries are continuing to stockpile and significantly increase gas inventories. Now at 80% full storage compared to the 5yr average of 63% for this time of year. 
The UK still lags behind in terms of storage facilities but at least now the main Yorkshire facility has been expanded to store six days of average gas demand and 3.5 days of peak winter gas demand.
Hopefully this all should dampen any supply and price volatility later on in the year.

Doc_N

m_c_s said:

Reports today that European countries are continuing to stockpile and significantly increase gas inventories. Now at 80% full storage compared to the 5yr average of 63% for this time of year. 
The UK still lags behind in terms of storage facilities but at least now the main Yorkshire facility has been expanded to store six days of average gas demand and 3.5 days of peak winter gas demand.
Hopefully this all should dampen any supply and price volatility later on in the year.

And meanwhile, while most major European countries have storage of around 100 days, our government congratulates itself on having just 6.

The Conservative Party has about as much idea of running this country as Mr Bean.

m_c_s

Doc_N said:

And meanwhile, while most major European countries have storage of around 100 days, our government congratulates itself on having just 6.

The Conservative Party has about as much idea of running this country as Mr Bean.

Between 1997 and 2005 (Labour Government) the UK had a gas storage capability equivalent to 14 days’ supply at average winter gas demand rates and 7 days peak demand. While slightly better hardly something to shout about. 
Energy strategy in the UK over the last 30yrs has been poor, whether it's a Conservative or Labour Government. And let's not forget it was the Liberal (Clegg) element of the coalition government in 2011 that blocked signing off a new Nuclear power station that would now be running and mitigating current issues.  

wakeupalarm

Doc_N said:

The Conservative Party has about as much idea of running this country as Mr Bean.

https://www.youtube.com/watch?v=kLrwV_gIq3U