Octopus Tracker

masonic

DigSunPap said:

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. 

Haha, good to know I wasn't wasting my time replying. Are your fixed rates not considerably higher than they were previously? From what I've seen all types of tariffs are considerably higher, but broadly the gap between Tracker and others is being maintained thus far. Nobody knows if a fix taken out today will buck that trend, but I'm comfortable with what seems to be a small risk given the long term history. Not everyone will be.

Qyburn

FIREDreamer said:

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.

That must be a lot of electricity. We switched 8th Feb and our saving to end of August was something like £210. Of course with lower use the risk from price rise reduces proportionately as well.

FIREDreamer

Qyburn said:

FIREDreamer said:

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.

That must be a lot of electricity. We switched 8th Feb and our saving to end of August was something like £210. Of course with lower use the risk from price rise reduces proportionately as well.

We use 7,500 kwh electricity a year and 11,000 kwh of gas. Two boys with two PS5 consoles and large flat screen televisions doesn’t help.

Robgmun

I went on the tracker in July for both and I'm approximately saving £80 per month. 

Next December will be the big test. Last year overall we spent £350 (not including the rebate, which brought it down to £280ish) in just that one month as I was home for the whole of the month, heating on all evening and electricity on etc.

I'm hoping this time around it's at least half that. I'd be happy if we only spend £180ish

Telegraph_Sam

I'd appreciate it if you and other "Trackers" who take the trouble to analyse their savings (or losses!) in a variety of situations, would report on these in this forum!

Spoonie_Turtle

Telegraph_Sam said:

I'd appreciate it if you and other "Trackers" who take the trouble to analyse their savings (or losses!) in a variety of situations, would report on these in this forum!

We do periodically mention them, but in all fairness that tends to be across different threads (especially when the old 'smart meters don't save you any money' chestnut gets trotted out) - and I'm not sure if I've actually posted on this thread, at least not recently.

So far this year, to the end of September, our savings are ~£930.  [All-electric, depressingly heavy usage which has recently increased again due to a family member's cooking requirements.]

Telegraph_Sam

I agree that received wisdom does indeed seem to get scattered over more than one thread. But if it could be established that this thread was the resting place for Tracker reports (Trackers as a group are more likely to take an  interest in such comparisons) all would not be lost. With explanatory notes re cooking, or electric lawn mowing .. thrown in for guidance.
[Do smart meters save money? I have now got into the habit of reporting manually as well in case of discrepancies]

Spoonie_Turtle

Telegraph_Sam said:

I agree that received wisdom does indeed seem to get scattered over more than one thread. But if it could be established that this thread was the resting place for Tracker reports (Trackers as a group are more likely to take an  interest in such comparisons) all would not be lost. With explanatory notes re cooking, or electric lawn mowing .. thrown in for guidance.
[Do smart meters save money? I have now got into the habit of reporting manually as well in case of discrepancies]

Not inherently, no, but the tariffs to which they give access certainly can do - as evidenced by the savings information scattered about the forum.  I just mentioned it because it's a favourite line of … shall we call them, pot stirrers, who regularly come and peddle their pet theories and gripes.

Telegraph_Sam

Feel free. Join the club!

MultiFuelBurner

Robgmun said:

I went on the tracker in July for both and I'm approximately saving £80 per month. 

Next December will be the big test. Last year overall we spent £350 (not including the rebate, which brought it down to £280ish) in just that one month as I was home for the whole of the month, heating on all evening and electricity on etc.

I'm hoping this time around it's at least half that. I'd be happy if we only spend £180ish

How much electricity/gas do you use a year in kWh?