Octopus Tracker

FreeBear

Telegraph_Sam said:

I got moved to Dec 2023 v1 I suspect with the general exodus. This is what the invoice says but "price guaranteed until  Not applicable". Yet the web site says .. "ending 15 Feb 2025". Does this give me immunity from being switched to a later and more expensive version? I don't use the app

The bill saying "Price Guaranteed Until: Not applicable" presumably means there is no price guarantee on the unit rate, not the length of the contract.

Telegraph_Sam

I'm not a lawyer but to me a contract with wiggle room as far as the price / unit rate is concerned - a key term - is not a contract as would normally be understood in a context such as this. If it is a "variable rate" contract you would think this would be spelled out unambiguously.

BootsMullery

They can't fix the unit rate. The whole point of Tracker is that the price is based on the wholesale price which does vary. It is the formula for converting the wholesale price that is fixed and which changes for newer customers who joined with the April and July versions.

Spoonie_Turtle

BootsMullery said:

They can't fix the unit rate. The whole point of Tracker is that the price is based on the wholesale price which does vary. It is the formula for converting the wholesale price that is fixed and which changes for newer customers who joined with the April and July versions.

Does that mean those tariff versions have provided for a formula change whenever (although realistically, maybe every 3 months when the SVT price cap changes)? 
Or did you mean fixed per tariff version, with a new one out whenever (probably every 3 months)?

Telegraph_Sam

I was on the point of "editing" my previous post to say that the thing makes sense if I interpret the SC's as being fixed until 15 Feb, but of course the unit rates change on a daily variable basis.
On the other hand formula changes takes us into deeper water.  I am hoping that I am not affected by them (contractually) but if I am to be then I am not sure if and how I would notice. One would assume there would be a notification to this effect.

BootsMullery

From Tracker Q&A's on the website:-

"When you sign up to Tracker, the formula we use to calculate Tracker prices and the daily standing charge will remain the same over a 12 month period. The daily unit rates will vary as they follow the wholesale price of energy.

When it comes time to renew, you will need to sign up again for another 12 months to stay on the tariff. This will be on the latest version of the tariff. There are no exit fees if you decide to leave Tracker."

So, if you signed up after 3rd April at 10am BST but before 1st July at 10:30am BST, you will be on the April 2024 V1 tariff for 12 months from the date of signing up.

After 1st July at 10:30am BST until such time as a new version is issued, you would be signing up to July 2024 V1 tariff fixed for 12 months.

The relevant formulas for both the April and July versions are detailed for each region on the website Q&A's page here:  https://octopus.energy/tracker-faqs/

Telegraph_Sam

Does this mean that "my" formula and SC's can change every 3 months despite appearances to the contrary? I first signed up about a year ago and am now on Dec 2023.

BootsMullery

Telegraph_Sam said:

Does this mean that "my" formula and SC's can change every 3 months despite appearances to the contrary? I first signed up about a year ago and am now on Dec 2023.

As quoted above, "When you sign up to Tracker, the formula we use to calculate Tracker prices and the daily standing charge will remain the same over a 12 month period. The daily unit rates will vary as they follow the wholesale price of energy."
We can only hope that, for those of us on Dec 2023 V1, the Formula and SC's will be fixed for 12 months as stated. I was originally on Nov 2022 V1 but was moved to Dec 2023 V1 on 15th Feb 2024. My online a/c shows 15th Feb 2025 as the end of my current tariff and I am certainly expecting the formula and SC to be fixed until then.

They say that they will be reviewing the formula and SC every 3 months but I would expect this to mean that if there are any changes, up or down, these will result in new tariff versions applicable to new sign ups from that time as with the April and July 2024 versions.

Telegraph_Sam

I am with you on that and share your hopes. The question is does fixed mean fixed? Relatively speaking. I rather doubt if the happiness person could speak authoritavely on this for us.

masonic

I think the terms (including FAQ on the website) are clear enough. From the Dec 23 version, the formula is fixed for the duration of the contract. You will renew onto whatever version is on sale at the time your fixed term ends.

They have reviewed formula and SC a couple of times this year and each time it has got a little more expensive, but existing customers who accepted being moved to Dec 23 have been unaffected.