Octopus Tracker

Qyburn

masonic said:

Are they being paid for the excess though? How could this be if the wholesale price goes negative?

I don't know that for sure, maybe someone does. I would think it's as good as certain that gas generation would continue to be paid. If wind farms don't get paid when there's a surplus, then why would they be entitled to payment when they're asked to shut down?

The comment I've seen about negative pricing is that it costs less to pay people to consume, than it would cost to pay generators to shut down or reduce output.

masonic

Qyburn said:

masonic said:

Are they being paid for the excess though? How could this be if the wholesale price goes negative?

I don't know that for sure, maybe someone does. I would think it's as good as certain that gas generation would continue to be paid. If wind farms don't get paid when there's a surplus, then why would they be entitled to payment when they're asked to shut down?

The comment I've seen about negative pricing is that it costs less to pay people to consume, than it would cost to pay generators to shut down or reduce output.

Presumably some of their output is paid for on forward supply contracts, but excess output is to sold to suppliers by auction, and the price of those auctions can go negative, resulting in Agile and Tracker prices going negative. If some generation is stood down, the affected generators would need to be compensated for lost sales that are met by the excesses of other market participants. Those other market participants would sell the replacement energy to the grid for less than the original forward contract price, with the difference going some way to funding the compensation. That's my understanding anyway.

For gas, I don't think the wholesale price goes negative (as generators can control supply), but if it did, distributors and suppliers could buy it up and store it without paying customers to use it.

masonic

Tomorrow is looking very good for a weekday, and likely not the cheapest pricing we'll see this week...

calleyw

masonic said:

calleyw said:

I have been waiting between 3 and four weeks to go on to the tracker.  I will be phoning tomorrow as I got a reply to me asking when I was going on to the tracking still no date and the person replying was not sure how to back date the charges as I asked before the start of december to go on the tracker.  Can't work out why its taking so long.  Took 2 days to move from one old supplier to the octopus.  But internal changes seem to take for ever!!!!

The usual reasons to have to wait before you can go onto Tracker are that you don't yet have smart meters, or your meter profile is Economy 7 and needs to be changed to single rate. Another possible reason is that the Change of Supplier reading has not yet been agreed with the old supplier, so billing cannot commence. It would be worth trying to get a reason from them as there have been no other reports of such long delays.

Nope none of those things. Never had economy 7,  I had smarts meters in june, I swapped early november.  Had my final bill and refund from my previous supplier over a month ago.  Already had my november/december bill based on my smart meter readings

masonic

calleyw said:

masonic said:

calleyw said:

I have been waiting between 3 and four weeks to go on to the tracker.  I will be phoning tomorrow as I got a reply to me asking when I was going on to the tracking still no date and the person replying was not sure how to back date the charges as I asked before the start of december to go on the tracker.  Can't work out why its taking so long.  Took 2 days to move from one old supplier to the octopus.  But internal changes seem to take for ever!!!!

The usual reasons to have to wait before you can go onto Tracker are that you don't yet have smart meters, or your meter profile is Economy 7 and needs to be changed to single rate. Another possible reason is that the Change of Supplier reading has not yet been agreed with the old supplier, so billing cannot commence. It would be worth trying to get a reason from them as there have been no other reports of such long delays.

Nope none of those things. Never had economy 7,  I had smarts meters in june, I swapped early november.  Had my final bill and refund from my previous supplier over a month ago.  Already had my november/december bill based on my smart meter readings

Then it will be interesting to find out what they have to say when you phone them.

calleyw

masonic said:

calleyw said:

masonic said:

calleyw said:

I have been waiting between 3 and four weeks to go on to the tracker.  I will be phoning tomorrow as I got a reply to me asking when I was going on to the tracking still no date and the person replying was not sure how to back date the charges as I asked before the start of december to go on the tracker.  Can't work out why its taking so long.  Took 2 days to move from one old supplier to the octopus.  But internal changes seem to take for ever!!!!

The usual reasons to have to wait before you can go onto Tracker are that you don't yet have smart meters, or your meter profile is Economy 7 and needs to be changed to single rate. Another possible reason is that the Change of Supplier reading has not yet been agreed with the old supplier, so billing cannot commence. It would be worth trying to get a reason from them as there have been no other reports of such long delays.

Nope none of those things. Never had economy 7,  I had smarts meters in june, I swapped early november.  Had my final bill and refund from my previous supplier over a month ago.  Already had my november/december bill based on my smart meter readings

Then it will be interesting to find out what they have to say when you phone them.

It will be. Maybe I should have realised then the 1st December email started Thank you for completing the Tracker Sign Up Form in July 2023.  I wasn't with them in july.  And upon checking I joined them in early october not november.

la531983

Gas up 9% in trading today, so something is afoot.

pfpf

maybe the Red Sea situation. knee jerk or longer term? lets see.

Slinky

pfpf said:

maybe the Red Sea situation. knee jerk or longer term? lets see.

That's what I said as soon as I heard about BP.

mmmmikey

la531983 said:

Gas up 9% in trading today, so something is afoot.

Maybe something to do with shipping LNG through the Red Sea?