Octopus Tracker

MultiFuelBurner

tghe-retford said:

Rumour confirmed, in a reply to two other people:

https://twitter.com/OctopusEnergy/status/1734639052052152694

It must have been a cheaper year on tracker than anyone predicted 

I don't mind too much but some regions are getting hit hard with the new formula up 3.2p a day for electricity. (Sadly I know the reasons why but it still stings lol)

Had the spreadsheet out yesterday based on this year's rates our tracker estimated bill for next year on the new formula will be £225 more expensive.

la531983

My region is up 2.1p at some point then. A little disappointing but it is what it is.

armistice

Also a bit disappointed, I had hoped tracker would be a long term, stable tariff (cheaper because we take on the risk of changes in wholesale rates).    At least the good news yesterday regarding removal of VAT on retrofit battery storage may help improve the financial viability of alternatives.

t0rt0ise

I've seen the rumour unconfirmed as much as I've seen it confirmed. I'll wait until I read something official before believing anything.

MultiFuelBurner

t0rt0ise said:

I've seen the rumour unconfirmed as much as I've seen it confirmed. I'll wait until I read something official before believing anything.

I decided to have my own quick X chat and they confirmed Mid Jan everyone will be migrated to the new tracker formula and fixed term. But what that means for finer details we will all have to wait and find out.

RosieRooBear

Based on today's prices for my region (Southern England) with the new tracker prices, my gas would be up 0.2p and my electricity would be up 2.56p. 

northernstar007

RosieRooBear said:

Based on today's prices for my region (Southern England) with the new tracker prices, my gas would be up 0.2p and my electricity would be up 2.56p. 

so thats what its roughly working out to this increase for everyone?

MultiFuelBurner

northernstar007 said:

RosieRooBear said:

Based on today's prices for my region (Southern England) with the new tracker prices, my gas would be up 0.2p and my electricity would be up 2.56p. 

so thats what its roughly working out to this increase for everyone?

No different areas have a different formula.

East of England 3.2-3.4p more when they make the change as an example.

pfpf

MultiFuelBurner said:

t0rt0ise said:

I've seen the rumour unconfirmed as much as I've seen it confirmed. I'll wait until I read something official before believing anything.

I decided to have my own quick X chat and they confirmed Mid Jan everyone will be migrated to the new tracker formula and fixed term. But what that means for finer details we will all have to wait and find out.

so for that to be correct we'll get the official confirmation before this weekend. i am assuming there is indeed a 30 day notice period of changes.

every time the "little guy" gets just a small win here and there someone comes along and takes it away.

spot1034

Not involved here but as an observer I have noticed in recent weeks how the gas price for the short term is now pretty much the same as that for many months ahead - at the time of writing around 90p per therm. Until quite recently the short term price which I think is what mainly determines the tracker price has been significantly lower than medium and longer term prices, which are the basis for the calculation of the price cap (4.5 to 1.5 months ahead of it coming into force.)

Tracker recently has been a bit of a no-brainer, albeit with the risk that it could rise substantially, but for much of the past year it would have had to be a very substantial rise indeed to come up to the level of the SVT. Are we now returning to a more normal environment where the price of energy is more stable, and would this mean that the gap between tracker and the SVT could be expected to narrow?