Octopus Tracker

Pat38493

iishappy said:

Luckily moved onto tracker last week gas is Nov 2022 V1 and electricity is Feb 2023 V1 neither have an end date. East Midlands maybe others were given an end date previously based on region?

This is exactly what I mean.  I moved onto tracker about 3 weeks ago and they gave me an end date.

Alnat1

I renewed gas Tracker in June last year, was put on Nov 22 v1 and I do have an end date of 17/6/24 

bristolleedsfan

Octopus have left door wide open for possible future new versions with higher SC and/or unit rates.

" we’re switching Tracker back to a fixed tariff. This means you can annually review whether Tracker is the best tariff for you, and lock in their pricing formula over the 12 month period"

Telegraph_Sam

When is fixed not fixed? I was under the impression that there would be no changes to my existing tariff "formula" before an unspecified end date. Though realistically I cannot expect this to last indefinitely (:

QrizB

"No changes before an unspecified date" is the same as "changes on an unspecified date", ie. variable?

Telegraph_Sam

This was my attempt, unsuccessful, to make sense of what Bristolleedsfan quotes. You point out the warped logic. I'm still guessing.

MultiFuelBurner

So in my view the original formula had running costs and profit built in.

So where do we think Octopus have gone wrong?

Have they not been purchasing next day energy to the levels tracker customers have been using?

Have administration costs increased?

For the Eastern region the difference is 3p higher on the new tracker December tariff.

Taking the yearly average for our region (not weighted) that comes out at 20.07p kWh. Adding 3p to this on the new formula all year round obviously takes this to 23.07p. more interestingly an additional 15% profit (sorry running costs, admin and profit)

Greedy Octopus?

bristolleedsfan

Telegraph_Sam said:

When is fixed not fixed?  

I was under the impression that there would be no changes to my existing tariff "formula" before an unspecified end date

When it has no end date as per your post yesterday  11 December at 10:18PM - 12 month fixed term has specified end date.

"II am on Tracker Nov 22 v1 for gas , no specified end date, 
and for electric also Tracker Nov 22 v1, again no specified end date"

Slinky

My thinking with this is that there are about to be a whole new load of ex-Shell customers joining Octopus in January. Some of them, maybe loads of them, will want to migrate over to Tracker at some point. Increasing the margins on these new accounts will hopefully protect the business going forward. I'm sure that most of their customers, us, would be very unhappy if Octopus were to fail, and we were dumped back onto the slumbering SOLR that many of us have had difficult experiences with in the past.

MultiFuelBurner

Slinky said:

My thinking with this is that there are about to be a whole new load of ex-Shell customers joining Octopus in January. Some of them, maybe loads of them, will want to migrate over to Tracker at some point. Increasing the margins on these new accounts will hopefully protect the business going forward. I'm sure that most of their customers, us, would be very unhappy if Octopus were to fail, and we were dumped back onto the slumbering SOLR that many of us have had difficult experiences with in the past.

That did cross my mind as well with the shell customers coming over.

A case of getting too big too fast and being too generous also crossed my mind.

Luckily it does seem Octopus can take these expansions and do have good backing and reserves.