Octopus Tracker

meinnit

Slinky said:

northernstar007 said:

Slinky said:

MultiFuelBurner said:

Slinky said:

Arggh.  Don't know what to do.  Stupidly I fixed for gas at the end of September, so I'm paying 6.78p per kwh.  We use about 68 kwh a day in December and January, mid 50s in Feb and March, 30s in April then trailing off after that. 

To swap to tracker for gas or suck it up until the fix ends?

Any exit fees then calculate them in

Yes that's the real issue, the £75 exit fee. Recovering that via reduced tracker rates.

with your current supplier can you not do what i done, and move on the standard tariff for for free then make a transfer

I'm already with Octopus. It's £75 to come off the fixed tariff. 

I've just done some sums, if the Tracker gas rate was on average 1p lower than the fix (i.e 5.78 instead of 6.78) I'd break even by the end of April.

I was tempted to fix at that price but decided to stick with Tracker. Come January prices on Tracker could be much higher so you have a decent insurance policy against any rises

Don't know if you were already on Tracker but remember there is a 9 month wait until you can return to Tracker

Slinky

No, I'm on Tracker for electric but have never been on Tracker for gas.  This is the dilemma I face. Do I switch now and risk higher tracker rates in January onwards, or stick with the known rate now. You can bet your bottom dollar whichever I pick will be the wrong choice, it usually is.....

I know that Cornwell Insight (is that the correct people) were predicting something like a 5% increase from January, hence why I fixed at the SVC rate going forward, but are the wholesale daily rates included in that prediction?

northernstar007

i'm watching natural gas prices and they have been on a slide, this has an effect on our prices i take it
and how much further will it drop

BillyHorner

Slinky said:

No, I'm on Tracker for electric but have never been on Tracker for gas.  This is the dilemma I face. Do I switch now and risk higher tracker rates in January onwards, or stick with the known rate now. You can bet your bottom dollar whichever I pick will be the wrong choice, it usually is.....

I know that Cornwell Insight (is that the correct people) were predicting something like a 5% increase from January, hence why I fixed at the SVC rate going forward, but are the wholesale daily rates included in that prediction?

If it’s helpful, I think that wholesale gas prices would need to reach £150 per therm in order for the Tracker price to hit the current price cap. The current wholesale price is c. £95 per therm and is (currently) quoted to stay below £100 per therm until at least the end of January.

Of course, it’s a wholesale market and anything could happen tomorrow, but…

Slinky

Expect gas tracker prices to rise. I've bitten the bullet and asked to swap. 

I've a friend I hope is switching to Octopus with my referral code which will help take the pain out of the £75 exit fee if they go ahead.

Shedman

I might have missed this elsewhere in the threads but Octopus have changed the calculation and hence effectively increased the unit rates by about 11% for elec (2.3p /kwh) and 8% for gas (0.68p /kwh) and increased the SC for anybody joining tracker from today (11Dec).  I'm hoping that existing customers on tracker for one fuel can still be switch to the same version if they switch their other fuel as I am on tracker Nov 22 v1 for gas and was hoping to move Electric over shortly.

https://octopus.energy/tracker-faqs/?fbclid=IwAR39ECJ69J8VunnUnfGJ9OYq1YnPJKcYqpghR6etbanjbbi8kMdAxiH_bKg_aem_AVANyFpNOQNb8eYnssDVPCSpvm8By7RPI-u-4dYXOaulA6qEqMm0fEP8eT-99mBaSa8

MultiFuelBurner

Shedman said:

I might have missed this elsewhere in the threads but Octopus have changed the calculation (and hence effectively increased the unit rates by about 11% for elec and 8% for gas) and increased the SC for anybody joining tracker from today (11Dec).  I'm hoping that existing customers on tracker for one fuel can still be switch to the same version if they switch their other fuel as I am on tracker Nov 22 v1 for gas and was hoping to move Electric over shortly.

https://octopus.energy/tracker-faqs/?fbclid=IwAR39ECJ69J8VunnUnfGJ9OYq1YnPJKcYqpghR6etbanjbbi8kMdAxiH_bKg_aem_AVANyFpNOQNb8eYnssDVPCSpvm8By7RPI-u-4dYXOaulA6qEqMm0fEP8eT-99mBaSa8

Yes a 4.8p per day jump on the SC for electricity.

What's the jump for gas SC?

Slinky

Oh flipping nora, just my luck. Didn't see this before switching 15 minutes ago.........

masonic

Shedman said:

I might have missed this elsewhere in the threads but Octopus have changed the calculation (and hence effectively increased the unit rates by about 11% for elec and 8% for gas) and increased the SC for anybody joining tracker from today (11Dec).  I'm hoping that existing customers on tracker for one fuel can still be switch to the same version if they switch their other fuel as I am on tracker Nov 22 v1 for gas and was hoping to move Electric over shortly.

https://octopus.energy/tracker-faqs/?fbclid=IwAR39ECJ69J8VunnUnfGJ9OYq1YnPJKcYqpghR6etbanjbbi8kMdAxiH_bKg_aem_AVANyFpNOQNb8eYnssDVPCSpvm8By7RPI-u-4dYXOaulA6qEqMm0fEP8eT-99mBaSa8

Thanks, news to me, looks like they've left the wholesale multiplier alone but added about 2p onto the resultant unit rate. Hopefully they will leave existing customers alone for the time being.

mmmmikey

Shedman said:

I might have missed this elsewhere in the threads but Octopus have changed the calculation (and hence effectively increased the unit rates by about 11% for elec and 8% for gas) and increased the SC for anybody joining tracker from today (11Dec).  I'm hoping that existing customers on tracker for one fuel can still be switch to the same version if they switch their other fuel as I am on tracker Nov 22 v1 for gas and was hoping to move Electric over shortly.

https://octopus.energy/tracker-faqs/?fbclid=IwAR39ECJ69J8VunnUnfGJ9OYq1YnPJKcYqpghR6etbanjbbi8kMdAxiH_bKg_aem_AVANyFpNOQNb8eYnssDVPCSpvm8By7RPI-u-4dYXOaulA6qEqMm0fEP8eT-99mBaSa8

That represents quite a big change for new customers for electricity - just over 2p/kWh increase or 10%ish for my region (East Midlands). Still better than SVR pricing by quite some margin but it widens the gap between Tracker and Agile which probably makes sense as Agile was starting to look less and less attractive in comparison (unless Agile prices have or are about to change too - I haven't checked yet).