Octopus Tracker

niktheguru

bristolleedsfan said:

Competition keeps rates down 

Octopus Tracker is a  variable rate tariff , using North East as an example

Cheapest Variable rate Orbit and Neon reef  Unit rate  12.179p per kWh, Symbio 12.26  Igloo 15.502p per kWh  inc VAT

Cheapest 12 month fix  Symbio 12.092p Neon Reef 15.016p per kWh  Green 15.206p per kWh inc VAT

Indeed, always worth looking at the competition. Main reason I joined octopus was to get my smart meters upgraded and currently driving an ev so the off peak times for charging greatly appeals.
I did consider orbit as was very cheap on duel fuel but too many reports of them jacking up the prices a few months after being with them. Came from symbio who I unlike many didn't have too many problems with, but with the way things are going not sure they're gonna be in business too long. Neon reef and green are excellent providers who I've been with in the past, but at those prices are more expensive than octopus go, and also attached with exit fees.

Here's hoping we get some even cheaper prices from competitors come the summer.

bristolleedsfan

Whilst EV Owners are seemingly the most vocal both on social media and forums worth pointing out  235,000 pure-electric cars on UK roads at the end of March 2021, they are a tiny minority of the population, for vast majority of population it is what are best Electricity rates as opposed to what are best Electricity rates for Evs and what is best rates for those without Smart Meters as well as best rates for those with Smart Meters ....

[Deleted User]

bristolleedsfan said:

Whilst EV Owners are seemingly the most vocal both on social media and forums worth pointing out  235,000 pure-electric cars on UK roads at the end of March 2021, they are a tiny minority of the population, for vast majority of population it is what are best Electricity rates as opposed to what are best Electricity rates for Evs and what is best rates for those without Smart Meters as well as best rates for those with Smart Meters ....

Octopus Go; Go Faster and Agile tariffs are not exclusive tariffs for EV owners. Yes, a smart meter is required to access these tariffs; that said, the cheapest fixed rate tariffs offered by most suppliers now require consumers to agree to a smart meter. Last year on Agile - from March through until September - with negligible EV use, I was able to get my unit price below 8p/kWh with very little effort. I would have thought that this is what MSE is all about. 

FWiW, my view is that smart meters will in time become mandatory. For example, suppliers now have BEIS authority to fit smart meters when existing meters are deemed end-of-life. Octopus Tracker tariffs are of course available to smart meter and non smart meter consumers. 

bristolleedsfan

Dolor said:

bristolleedsfan said:

Whilst EV Owners are seemingly the most vocal both on social media and forums worth pointing out  235,000 pure-electric cars on UK roads at the end of March 2021, they are a tiny minority of the population, for vast majority of population it is what are best Electricity rates as opposed to what are best Electricity rates for Evs and what is best rates for those without Smart Meters as well as best rates for those with Smart Meters ....

that said, the cheapest fixed rate tariffs offered by most suppliers now require consumers to agree to a smart meter. Last year on Agile - from March through until September - with negligible EV use, I was able to get my unit price below 8p/kWh with very little effort. I would have thought that this is what MSE is all about. 

I would suggest that the only relevance kwh rate those on Agile managed to achieve March - September last year is for those who want to continually reminisce about it/ plug time of use tariffs, after all others could reminisce about 10p ( or less) variable or fixed rates they have had  in past with no effort at all same rate 24 hours a day ...

Do these cheapest fixed rate tariffs require agreement to a smart meter ???  Symbio 12.092p Neon Reef 15.016p per kWh  Green 15.206p per kWh inc VAT ( I listed cheapest 3 different suppliers for Electricity, North East region )

[Deleted User]

bristolleedsfan said:

Dolor said:

bristolleedsfan said:

Whilst EV Owners are seemingly the most vocal both on social media and forums worth pointing out  235,000 pure-electric cars on UK roads at the end of March 2021, they are a tiny minority of the population, for vast majority of population it is what are best Electricity rates as opposed to what are best Electricity rates for Evs and what is best rates for those without Smart Meters as well as best rates for those with Smart Meters ....

that said, the cheapest fixed rate tariffs offered by most suppliers now require consumers to agree to a smart meter. Last year on Agile - from March through until September - with negligible EV use, I was able to get my unit price below 8p/kWh with very little effort. I would have thought that this is what MSE is all about. 

I would suggest that the only relevance kwh rate those on Agile managed to achieve March - September last year is for those who want to reminisce about it/ plug time of use tariffs, after all others could reminisce about 10p ( or less) variable or fixed rates they have had  in past with no effort at all

Do these cheapest fixed rate tariffs require agreement to a smart meter ???  Symbio 12.092p Neon Reef 15.016p per kWh  Green 15.206p per kWh inc VAT

I wouldn’t choose your cheapest supplier if I got £100 cashback and the other two have a higher unit rate than the Octopus Go peak rate of 14p/kWh with up to 5 hours at 5.5p/kWh. Looking back to pre-Covid, my most expensive month on Agile during the period Jan 19 to Feb 20  was Feb 20 at 8.49p/kWh.

The pressure is now on ALL suppliers to fit smart meters and BEIS favours carrot rather than stick. Increasingly, I believe we will see a larger annual cost gap between smart and non smart meter tariffs. I really don’t understand why some people are so against getting a smart meter given that the majority of consumers have now accepted them. 

bristolleedsfan

You are reminiscing further back in time now

Competition keeps rates down 

Octopus Tracker is a  variable rate tariff, April 2021 it averaged about 16p+kwh inc Vat

Most recent average rate North West 27 April to 2 May inclusive 6 days 15.47 plus vat

Using North East as an example

Cheapest Variable rate Orbit and Neon reef  Unit rate  12.179p per kWh, Symbio 12.26  Igloo 15.502p per kWh  inc VAT

Cheapest 12 month fix  Symbio 12.092p Neon Reef 15.016p per kWh  Green 15.206p per kWh inc VAT

It is what are best Electricity rates  for those without Smart Meters as well as best rates for those with Smart Meters that 1/2 hour readings can be taken

niktheguru

I'd agree agile is a very niche product for those who like the challenge, are able to modify their electricity use or those with batteries and solar, but at the moment is losing customers like crazy.
Tracker is a decent tariff for those who like to take that little risk to see if wholesale prices will drop and see if they'll make a saving dynamically, also reasonable if you wish to stay with octopus but not fix on their higher tariff and don't want a smart meter.
Octopus go is a great tariff usually for those with EV's. But at the moment the peak rate is so low it should be the recommended tariff for most!

Using your north east example,
Octopus go is: 12.93p per kwh on a 12 month fix. 
Assuming you sign up to go faster with 5hrs at 5.5p starting at 8.30pm, your overall unit rate should be lower than any competition, and thats assuming no load shifting and just normal use.

You shouldn't really compare symbio, as just by looking at the symbio thread on these forums, there is so much hatred towards them, and the whole experience isn't for the average consumer. (you need to be on the ball and proactive - i didn't mind them, but if you go on the symbio forum you'll be hounded by a few vocal posters who had a terrible experience)
Orbit is useful until they jack up your prices, neon reef would be good on variable, but would prob still be a bit more expensive than go faster overall.

The only real reason to suggest going to neon reef variable over go faster would be if you definitely didn't want a smart meter. Otherwise i don't see it really being better?

QrizB

Everyone is comparing kWh prices but how do standing charges compare?

During the sunnier months my household uses less than 5 kWh per day, on average, so a 5p increase in standing charge is equivalent to 1p on a kWh.

Having just checked Octopus's website, Octopus Go's SC is 25p/day,  9.3p/day more than my current 15.7p SC. The "peak" Go rate is 13.8p/kWh vs. my current 14.3p/kWh, only 0.5p less. My normal overnight phantom loads are less than 100w. Barring some (truly heroic!) load management I would need to use more then 18kWh per day for it to be worth switching.

We're only talking £35/yr here of increased SC, admittedly.

(I did manage 18kWh/day consumption in December/January, running an electric heater in my workshop shed while DIY'ing, but that was an exception)

niktheguru

QrizB said:

Everyone is comparing kWh prices but how do standing charges compare?

During the sunnier months my household uses less than 5 kWh per day, on average, so a 5p increase in standing charge is equivalent to 1p on a kWh.

Having just checked Octopus's website, Octopus Go's SC is 25p/day,  9.3p/day more than my current 15.7p SC. The "peak" Go rate is 13.8p/kWh vs. my current 14.3p/kWh, only 0.5p less. My normal overnight phantom loads are less than 100w. Barring some (truly heroic!) load management I would need to use more then 18kWh per day for it to be worth switching.

We're only talking £35/yr here of increased SC, admittedly.

(I did manage 18kWh/day consumption in December/January, running an electric heater in my workshop shed while DIY'ing, but that was an exception)

Definitely an important point. Less relevant if you're a higher energy user, really important if lower. 
Ocotopus go's standing charge is definitely on the high side at 25p. Neon reef on their fixed tariffs is 23.5p and on their variable 13.2p (so worth looking at the variable one if on the loer end!) 

matelodave

As nik says, the cost of standing charges are only really relevent for low users. 10p difference in a standing charge equates to just £36.50 a year (£36.60 in a leap year), whereas a single penny equates to however many kwh a year you use - in my case 7200 = £72, so I'm significantly less concerned about s/c's that I am about price per kwh and I guess that those who are shoving 30-40kwh a night into their EV's (or even batteries) want a cheaper kwh rate at the expense of a higher s/c

As my ASHP heating system runs mostly during the day and evening and less so overnight when it's set back, my requirement is for the lowest single rate cost for most of the day. even heating the hot water tank only consumes around 2-3kwh a day (less in the summer) so trying to heat it overnight on a cheaper tariff wont save much and probably wouldn't compensate for the higher daily charges.. 

Those with batteries, EV's or even solar have different priorities and different consumption profiles and therefore require tariffs tailored to their unique requirements which probably wont suit most others.