Octopus Tracker

tghe-retford

I remember Three had the same problem when everyone went on The One Plan at a much lower cost than what the equivalent plan was for everyone else. They ended the plan and gave 30 days notice to all customers - move to a new plan at more than double the price or be given your marching orders.

We'll probably see something similar with Octopus. Thirty days notice to either move to the new Tracker tariff (with mandatory smart meter requirement) or be moved to variable. I guess the golden age is coming to an end and Octopus wants to redress the balance of risk vs reward in it's favour.

Qyburn

MultiFuelBurner said:

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

So where do we think Octopus have gone wrong?

As cited a few times on here, Octopus has stated that Tracker is loss making. Whether this new pricing puts it into the black isn't known.

I don't know if they can really be buying some on the spot market to cover their Tracker customers. And I think it very unlikely that they would be able to cancel hedged purchases as people move onto Tracker.

MultiFuelBurner

Qyburn said:

MultiFuelBurner said:

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

So where do we think Octopus have gone wrong?

As cited a few times on here, Octopus has stated that Tracker is loss making. Whether this new pricing puts it into the black isn't known.

I don't know if they can really be buying some on the spot market to cover their Tracker customers. And I think it very unlikely that they would be able to cancel hedged purchases as people move onto Tracker.

Ah great can you point me to the Octopus link that confirms it's loss making. I do like to read these things and store them for future use.

la531983

Just reading the new FAQ, absolutely nonsensical. A variable tariff, which they are calling fixed for 12 months, which you can move off without exit fees.

Its clearly not a "fix". Wonder how many people this will confuse.

MultiFuelBurner

Dip into the 17's tomorrow or 19/20's for Dec 2023 v1 trackers for electricity 

la531983

MultiFuelBurner said:

Dip into the 17's tomorrow or 19/20's for Dec 2023 v1 trackers for electricity 

Its been in the 17s here for a few days.

MultiFuelBurner

la531983 said:

MultiFuelBurner said:

Dip into the 17's tomorrow or 19/20's for Dec 2023 v1 trackers for electricity 

Its been in the 17s here for a few days.

Not for us poor East of England dwellers, couple of expensive 18's lol

MultiFuelBurner

In all seriousness I guess it could all end up being too good to be true the rates over the past 365 days have been ridiculously low.

northernstar007

MultiFuelBurner said:

In all seriousness I guess it could all end up being too good to be true the rates over the past 365 days have been ridiculously low.

i've joined the party at last orders

MultiFuelBurner

northernstar007 said:

MultiFuelBurner said:

In all seriousness I guess it could all end up being too good to be true the rates over the past 365 days have been ridiculously low.

i've joined the party at last orders

I suspect we all have a year going by how generous Octopus have been with other version of tracker in the past. Then we may have to join the new formula and more expensive tracker.