Octopus Tracker

masonic

Telegraph_Sam said:

But this could be a short term phenomenon - with variations in favour of one or other tariff? 
I'm guessing that the cap itself once adjusted will remain "fixed"

The cap has to build in suitable margins to address uncertainty over what deal a supplier may be able to achieve in practice, but in a flat or rising market, day ahead pricing could end up higher for the period, in which case the fixed-for-a-quarter SVT price could be lower than Tracker with the new pricing. This would be the other side of the coin to the more extreme savings such as we've seen over the last couple of months.

Griffindog

Slinky said:

• This is a screengrab from gastracker with the rates of Eastern England, with a simulation of the December 2023 tariff. The dotted lines show the SVT. The solid line is the average rate across the year. Blue is electric, green is gas.
  

The six months before this chart would have looked very different. In summer 2022 we frequently paid more than SVR but fortunately had 40p/11p caps. It was only the government reduction from October that brought it down again. Prices were high until early January 2023.

PennineAcute

The troubles over at the Red Sea now seem to be affecting gas prices.

Morning Briefing

Day ahead (DA)

• UK Gas contracts are trading slightly higher this morning at 70.50p/th (2.41p/kWh) on the back of delays in cargo arrivals into Europe from Qatar, due to rising tensions in the Red Sea.
• Power contracts are trading lower than settlement this morning at £60.60/MWh (6.06p/kWh) on strong wind speeds, resulting in a 25mcm/d decrease in gas for power demand. 3 Nuclear reactors are due back online next week, adding significant downside pressure to the power markets.
• Wind generation is currently at 11.65GW supplying the grid with 31.2% of its power generation. 

https://www.northerngasandpower.energymarketprice.com/dailymarketinsight/client/

pfpf

saw that this morning.
iv'e given up trying to second guess this game.
Natural Gas heading upwards this morning but UK Gas falling steadily after yesterdays gain.
i just check later on for tomorrows UR.
no point doing anything other.

edit. oh my, iv'e posted a Poem?

knight123

QrizB said:

Telegraph_Sam said:

There is obviously a logic that escapes me why come Oct 24 price increases for Tracker (E+G?) should be greater than those for Flexible / SVT. Pure speculation?

The October 2024 cap will be based in on advance-purchase energy prices, paid in preceding months for future months.There's a moderately chance that these will be lower than the spot day-ahead for energy when those days come around.

Just for illustration purposes, gas for October 2024 can currently be purchased for just under 73 pence per therm. This price will feed into the calculation of the October cap. There's a chance that, when we get to October, gas for next-day delivery will be more expensive than that.

If day-ahead gas in October is more expensive than this, you might find Tracker turns out more expensive than the SVT.

If you're electric only, do you think it's more or less uncertain whether to SVT or Tracker?

Trying to decide what to do - our energy is horribly expensive - the 2022 winter was costing us almost £300 a month, and that's with us being very sparse with heating in a 1 bed flat. Thanks to Tracker it's cost us less than £140 over the last month, and we're using heating a *lot* more.

I guess it's unlikely it goes higher than the current new tracker prices right? More that SVT may be even lower.

Slinky

knight123 said:

Trying to decide what to do - our energy is horribly expensive - the 2022 winter was costing us almost £300 a month, and that's with us being very sparse with heating in a 1 bed flat. Thanks to Tracker it's cost us less than £140 over the last month, and we're using heating a *lot* more.

I guess it's unlikely it goes higher than the current new tracker prices right? More that SVT may be even lower.

What is there to decide at the moment? Ride the wave of cheap prices whilst they last and deal with whatever comes along when it arrives. Anything else is just speculation at the moment.

knight123

Slinky said:

knight123 said:

Trying to decide what to do - our energy is horribly expensive - the 2022 winter was costing us almost £300 a month, and that's with us being very sparse with heating in a 1 bed flat. Thanks to Tracker it's cost us less than £140 over the last month, and we're using heating a *lot* more.

I guess it's unlikely it goes higher than the current new tracker prices right? More that SVT may be even lower.

What is there to decide at the moment? Ride the wave of cheap prices whilst they last and deal with whatever comes along when it arrives. Anything else is just speculation at the moment.

True, but isn't tracker going to a 12 month fixed tariff? Won't be as simple as just switching if the price goes consistently above SVT

PennineAcute

knight123 said:

Slinky said:

knight123 said:

Trying to decide what to do - our energy is horribly expensive - the 2022 winter was costing us almost £300 a month, and that's with us being very sparse with heating in a 1 bed flat. Thanks to Tracker it's cost us less than £140 over the last month, and we're using heating a *lot* more.

I guess it's unlikely it goes higher than the current new tracker prices right? More that SVT may be even lower.

What is there to decide at the moment? Ride the wave of cheap prices whilst they last and deal with whatever comes along when it arrives. Anything else is just speculation at the moment.

True, but isn't tracker going to a 12 month fixed tariff? Won't be as simple as just switching if the price goes consistently above SVT

The formula for calculating the daily price will be fixed for 12-months; not the same as fixing for 12-months.

northernstar007

quick update on my missing data, ive had a reply back from octopus saying they are running tests on both meters and will adjust all my bills to correct usage and prices, said they will get back to me, been quick replying back to me
not sure it will work in my favour or not, i know  2 days in dec i used 80kw gas compared to 50kw in the 5.2p kw mark

pfpf

how have you pursued this? email, social, telephone?