Octopus Tracker

milo_2020

peter3hg said:

savers_united said:

It also states that the cap is normally adjusted the same time as the Ofgem cap but can be changed at anytime and on more than 1 occasion. Its not designed to make tracker the cheapest tariff but to protect customers from extreme price swings. 

They haven't previously changed the caps of any of the versions of the Tracker tariff so not sure what you/they mean by "normally" here.
What they have done is release a new version but left current customers on the old version until the term expires.
I'm not convinced that situation will change in October but we will see.

Being advised that the situation will not change in October I am not convinced either.

QrizB

milo_2020 said:

Being advised that the situation will not change in October I am not convinced either.

We'll find out soon enough; they need to give notice (I think it's 30 days, per the T&C) so we'll have a chance to ask for the SVT instead.

Mstty

Stick or twist, it's like playing 21 the energy market.

For what it's worth my 2p tracker v4 will be released before or on October 1st and all previous trackers will be honoured for the 12 months fixed term.

JohnPo

Whatever happens, I think that by describing in my online account my v3 gas tracker as 'fixed' with with a stated end date, Octopus have left themselves open to a complaint, should they try to change things before that end date.

The tariff is quoted with a standing charge and unit rate which varies but was subject to a cap of 11p which was an implicit part of the deal when signing up.

Let us see what actually transpires between now and October, hopefully all the obfuscation and confusion shared by customer services means that not that many have signed and it too like the v1 tracker has too few customers for them to make issue about.

MWT

Mstty said:

For what it's worth my 2p tracker v4 will be released before or on October 1st and all previous trackers will be honoured for the 12 months fixed term.

I tend to agree, the only people who would have no reason to complain if it changed would be the original V1 people who joined before the voluntary cap was added.

All those on V2/3 joined a tariff with a cap.

savers_united

bristolleedsfan said:

savers_united said:

. I think they made an exception for those on Tracker v1 due to low numbers, whether they will be Inc in the next adjustment is yet to be seen but they would be within their right to adjust the cap for v1 customers if they feel they need to. The email makes that clear.

Just in case anybody else is on Octopus Tracker v1

This is what I got, like I said tracker v1 I think is unlikely to change due to the low numbers compared to other tariffs. Although the email reply below does state all tracker tariffs. If you have it in writing then you may have a case, but how many would just accept with no mention in the T&C or written confirmation to support their case. 

The cap that has been added to this tariff has been implemented by octopus themselves and as such cannot be guaranteed for any certain amount of time. However this has been, and will continue to be, set in line with what the current price cap rates are. It is therefore only likely to change when the price cap is revised in October and if so this will apply to all accounts currently on the tracker tariff. However as mentioned I cannot guarantee this will be the next and only amendment to the cap.

savers_united

peter3hg said:

savers_united said:

It also states that the cap is normally adjusted the same time as the Ofgem cap but can be changed at anytime and on more than 1 occasion. Its not designed to make tracker the cheapest tariff but to protect customers from extreme price swings. 

They haven't previously changed the caps of any of the versions of the Tracker tariff so not sure what you/they mean by "normally" here.
What they have done is release a new version but left current customers on the old version until the term expires.
I'm not convinced that situation will change in October but we will see.

I was pretty sure they changed the cap on v2 to bring inline with v3, the only thing that v2 kept hence why they brought out v3 was standing charge which is lower v2 compared to v3.

For most the risk of tracker caps increasing is low as they can just switch to the SVT. 

SJMALBA

savers_united said:

peter3hg said:

savers_united said:

It also states that the cap is normally adjusted the same time as the Ofgem cap but can be changed at anytime and on more than 1 occasion. Its not designed to make tracker the cheapest tariff but to protect customers from extreme price swings. 

They haven't previously changed the caps of any of the versions of the Tracker tariff so not sure what you/they mean by "normally" here.
What they have done is release a new version but left current customers on the old version until the term expires.
I'm not convinced that situation will change in October but we will see.

I was pretty sure they changed the cap on v2 to bring inline with v3, the only thing that v2 kept hence why they brought out v3 was standing charge which is lower v2 compared to v3.

For most the risk of tracker caps increasing is low as they can just switch to the SVT. 

AFAIK, the change from Tracker v1 to v2 was the increased cap of 40p/11p; v2 was only available for a few weeks before they introduced v3, which had the increased SCs.

SJMALBA

QrizB said:

milo_2020 said:

Being advised that the situation will not change in October I am not convinced either.

We'll find out soon enough; they need to give notice (I think it's 30 days, per the T&C) so we'll have a chance to ask for the SVT instead.

SC changes are subject to at least 30 days' notice - I've not seen anything in T&Cs, or the Tracker FAQ, about the cap having any notice period?

MWT

SJMALBA said:

savers_united said:

peter3hg said:

savers_united said:

It also states that the cap is normally adjusted the same time as the Ofgem cap but can be changed at anytime and on more than 1 occasion. Its not designed to make tracker the cheapest tariff but to protect customers from extreme price swings. 

They haven't previously changed the caps of any of the versions of the Tracker tariff so not sure what you/they mean by "normally" here.
What they have done is release a new version but left current customers on the old version until the term expires.
I'm not convinced that situation will change in October but we will see.

I was pretty sure they changed the cap on v2 to bring inline with v3, the only thing that v2 kept hence why they brought out v3 was standing charge which is lower v2 compared to v3.

For most the risk of tracker caps increasing is low as they can just switch to the SVT. 

AFAIK, the change from Tracker v1 to v2 was the increased cap of 40p/11p; v2 was only available for a few weeks before they introduced v3, which had the increased SCs.

This is correct.

So far, no existing version has had either the cap or the standing charge changed.

V1 is the only one that was changed, when the cap was first introduced.