Octopus Tracker

knight123

At least by the time we're forced onto the new tariff a good chunk of winter will be behind us.

Annoying that my area (London) is one of the areas with the highest rate increase - as someone with an electric combi boiler and wet radiators it's been a massive godsend the last couple of months.

bristolleedsfan

knight123 said:

At least by the time we're forced onto the new tariff a good chunk of winter will be behind us.

Annoying that my area (London) is one of the areas with the highest rate increase - as someone with an electric combi boiler and wet radiators it's been a massive godsend the last couple of months.

Likewise annoying for low users in other regions who pay significantly higher standing charge than London.

Merseyside/N Wales region customers facing 13pish per day SC increase + unit rate increase.

London  Standing charge:36.53 p/day

Merseyside/N Wales region :60.18 p/day

knight123

They seem to have updated the FAQ to give a bit more clarity for existing customers:

Due to regulatory requirements, we will need to update existing customers’ agreements too, but we’re not doing it right now. We will review this in early 2024.

Sounds like the switch might be even later than January!

MultiFuelBurner

knight123 said:

They seem to have updated the FAQ to give a bit more clarity for existing customers:

Due to regulatory requirements, we will need to update existing customers’ agreements too, but we’re not doing it right now. We will review this in early 2024.

Sounds like the switch might be even later than January!

They might have realised the kind of social media backlash they will get and we know they like to keep their review score high.

Perhaps a more considered approach is required from Octopus.

t0rt0ise

pfpf said:

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.

They have to give 'reasonable notice' for changes which could mean anything.

bristolleedsfan

t0rt0ise said:

pfpf said:

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.

They have to give 'reasonable notice' for changes which could mean anything.

Reasonable is a word lawyers like use, but it’s highly subjective. However, it has to be read in context and I think that means existing customers would have to be given sufficient time to consider their options, look at other tariffs and make a switch if necessary.

double_dutchy

MultiFuelBurner said:

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.

Hi MFB, I'm looking at some Octopus replies right now on "X".

The replies I've seen confirm that everyone will be moved to the new formula, but no dates are given. Octopus also say this in one reply:

"....we haven't changed the figures involved in the Tracker price formula since it's creation in 2017 - a lot has changed since then (incl a global wholesale crisis). We're bringing the formula up to date so the tariff can stay sustainable. We'll add more on the specifics soon."

northernstar007

MultiFuelBurner said:

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.

hope i dont sound thick, but how do you work it out, i'm on the octopus site with new and old prices but its sayin its per k/w etc cant see the exact increase as you have put for each area

MultiFuelBurner

northernstar007 said:

MultiFuelBurner said:

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.

hope i dont sound thick, but how do you work it out, i'm on the octopus site with new and old prices but its sayin its per k/w etc cant see the exact increase as you have put for each area

Best way is to use gastracker.uk and switch between November 2022 v1 and December 2023 v1 and then chose your region and then look at others you will see a vast difference depending on where you live. 

Maybe it will influence where you live next 

MultiFuelBurner

double_dutchy said:

MultiFuelBurner said:

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.

Hi MFB, I'm looking at some Octopus replies right now on "X".

The replies I've seen confirm that everyone will be moved to the new formula, but no dates are given. Octopus also say this in one reply:

"....we haven't changed the figures involved in the Tracker price formula since it's creation in 2017 - a lot has changed since then (incl a global wholesale crisis). We're bringing the formula up to date so the tariff can stay sustainable. We'll add more on the specifics soon."

Oooh I shall have a look over my lunchtime Sandwich. Cheers