Octopus Tracker

Telegraph_Sam

@matt_drummer. It is unusual to be psycho-analysed on a money saving website ...

I accept that it is possible to get fixated on the comparison with Agile. While just at the present time comparisons with the current crop of fixed rate deals are arguably more relevant.  It would be interesting to know if any trackers have taken this approach recently.

tlcgrantham

Comparing the current SVT or  fixed rate deals with the latest version of Tracker shows Tracker remains the cheapest option in East Midlands region. According to gas tracker.uk Electricity monthly average tracker price is 20.5pKwh (SVT 21.75pKwh) and Gas monthly average tracker price is 4.67pKwh. (SVT 5.35pKwh). 

MP1995

Doc_N said:

MP1995 said:

Doc_N said:

bristolleedsfan said:

Doc_N said:

bristolleedsfan said:

Current Tracker version  23.03p - Wednesday - North West Region.

It would be interesting to compare different versions of Tracker for the same day, and same region.

Current Tracker version  23.03p - Wednesday - North West Region.

 April 2024 - 21.21p

December 2023 - 20.47p

Original v1  17.36p

Octopus are extremely good at maximising their profits. Or, as some might say, profiteering. Renationalisation of the entire power industry is long overdue 

Can you back this up with some facts? 

I would like to see your evidence of profiteering as you put it,

Facts are very difficult to establish in this industry, as Ofgem have discovered. May I point you, however, to two things in particular:

1 The two substantial increases in the Tracker tariff for no reason other than to increase profits.

2 The huge gap between what's paid on the wholesale markets and what's charged to customers.

That's not to say that Octopus are the only culprits, but they are particularly good at marketing themselves as somehow the customer's friend. Which they most certainly are not - they're now a very large, very profitable, very hard-nosed business operation. Just like all the rest.

What about the new formula is profiteering when it will still provide circa 10-15% savings over the price cap over a year? When previous formulas they made a loss as an exercise in tariffs they believe they and others should offer (to the people, for the people). Don't confuse wanting to make a small profit with profiteering. 

Sound like you want your cake and to eat it and have some more.

Telegraph_Sam

@tlcgrantham. I think that is important.  We can draw conclusions from comparing Tracker and Agile and SVT but overall these could be beaten by a fixed rate deal. The value of a forum such as this is when an eagle-eyed forumite spots a non-Octopus hit and shouts about it from the rooftops.

AndrewJB

A morbid tip, especially for those of you who may have switched elderly friends or family on to this tariff. Make sure you or someone else is authorised to deal with their account. Otherwise, if they die, Octopus will close the account, and whoever is left living in the property will be paying much more.

By the way, getting Octopus to accept that the new tracker formula benefits them has proved unbelievably difficult. I feel like I've been hosting Newsnight!

bob2302

AndrewJB said:

By the way, getting Octopus to accept that the new tracker formula benefits them has proved unbelievably difficult.

What was your objective in trying to do that?

AndrewJB

bob2302 said:

AndrewJB said:

By the way, getting Octopus to accept that the new tracker formula benefits them has proved unbelievably difficult.

What was your objective in trying to do that?

Because what they had written suggested otherwise.

Telegraph_Sam

Sorry I have lost track of which version(s) of Tracker are affected and are the subject of our discussion.

MP1995

AndrewJB said:

A morbid tip, especially for those of you who may have switched elderly friends or family on to this tariff. Make sure you or someone else is authorised to deal with their account. Otherwise, if they die, Octopus will close the account, and whoever is left living in the property will be paying much more.

By the way, getting Octopus to accept that the new tracker formula benefits them has proved unbelievably difficult. I feel like I've been hosting Newsnight!

This was discussed here when the new formula first appeared, it did seem to favour some regions over others and as the name suggested it still tracks but at a closer rate.

We have moved onto Agile as the savings in tracked amount to our calculations 10% off the price cap for the Eastern region.

Tracker gas is still a bargain.

Krakkkers

I only use half a kwh of gas per day in the summer months so it's the winter prices that will decide if its a bargain or not.