Octopus Tracker

Spoonie_Turtle

Yep, savings for me are always compared to the SVT as that's the option always available to swap onto. 

For calculating savings made I don't see any point in comparing to a fix you could have taken because by the time you've hypothetically decided actually Tracker isn't saving any more, the fix would no longer be available anyway.  (Unless simply comparing the two potential decisions in the past, in which case the fix being compared would be specifically named anyway.)

FIREDreamer

I switched mid February so have done OK. 

Deduct £100 from the electric and £75 from the gas below, say, to reflect this. So saved £674 on electric and £198 on gas, so nearly £900 overall.

Telegraph_Sam

Spoonie_Turtle said:

Yep, savings for me are always compared to the SVT as that's the option always available to swap onto. 

I don't see any point in comparing to a fix you could have taken because by the time you've hypothetically decided actually Tracker isn't saving any more, the fix would no longer be available anyway.  (Unless simply comparing the two potential decisions in the past, in which case the fix being compared would be specifically named anyway.)

The idea of  comparing Tracker with the best fix on offer would be forward looking: Accepting that the best fixes are perhaps past, if one's personal crystal ball predicts a general rise in costs in the foreseeable future, one has ask what is the least worst option between staying put and jumping ship. And onto which ship ..?

Spoonie_Turtle

Telegraph_Sam said:

Spoonie_Turtle said:

Yep, savings for me are always compared to the SVT as that's the option always available to swap onto. 

I don't see any point in comparing to a fix you could have taken because by the time you've hypothetically decided actually Tracker isn't saving any more, the fix would no longer be available anyway.  (Unless simply comparing the two potential decisions in the past, in which case the fix being compared would be specifically named anyway.)

The idea of  comparing Tracker with the best fix on offer would be forward looking: Accepting that the best fixes are perhaps past, if one's personal crystal ball predicts a general rise in costs in the foreseeable future, one has ask what is the least worst option between staying put and jumping ship. And onto which ship ..?

Oh sorry I wasn't clear, I meant calculating the savings made against a fix would be pointless.  (Have now edited previous post for clarity.)

Obviously looking at fixes on offer should be part of any decision to stay or switch.

peter3hg

Living in a modern well insulated house my savings for gas are more modest, £84 this calendar year.

la531983

About 6p off the Tracker price for tomorrow, been some fluctuations the last 7 days.

MultiFuelBurner

la531983 said:

About 6p off the Tracker price for tomorrow, been some fluctuations the last 7 days.

Yeah I suspect it has reduced numbers on tracker for gas with those that have found out they don't like the energy stock market approach.

I can only speak from an electricity perspective but even after firing up the ASHP from Saturday our average pence per kWh is 17.35p kWh from 1st Oct.

MultiFuelBurner

la531983 said:

About 6p off the Tracker price for tomorrow, been some fluctuations the last 7 days.

It also ties in with the wind data forecasts which if this pans out could be a key indicator for when to do things and when to hold off.

double_dutchy

I'm on tracker for both gas and electric.

I use a spreadsheet to calculate what I would have paid on SVR (or EPG if that was applicable at the time) against what I actually paid. In 15 months from June 2022 to September 2023 I paid £1947 as opposed to £2635 if I had been on SVR, so that's a saving of £688 over that period, or £46 a month, roughly a 26% saving,

DigSunPap

masonic said:

DigSunPap said:

Many customers find that tracker tariffs can be attractive in the short term but may not provide long-term savings. The quoted figures often rely on historical data and may not reflect current or future price trends, especially in a time of rising energy costs. 

The last period of rising energy costs was 2022, and historical data would be very relevant to understanding what happens during such a period. Future price trends cannot be predicted, so no quoted figure based on a variable tariff could ever be relied on to reflect that. If you want a quote that is accurate for the future, it would be necessary to opt for a fixed tariff, but the figures would only be relevant for the duration of the fix. The tracker tariff is likely to provide long-term savings by virtue of the fact the consumer takes the short term risk, whereas price-hedged contracts would come at a premium price. However, those who do not understand the risks may be scared off by normal and expected spikes in prices. Parallels can be drawn with investing.

Edit: 25 posts since 2 pm across a wide variety of random threads suggests I am replying to a chatbot, lol

Well I can confirm that I am definitely not a chatbot. I understand what you are saying re the savings a tracker tariff gives in the long run and I can see both sides. But even though energy costs are still not rising as rapidly as they were in 2022, they are still considerably higher than they were previously. I personally have never used a tracker tariff and always opted for fixed as I prefer the security.