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MeteredOut

crumpet_man said:

zoonyx said:

Some complete overreactions happening here.... you've had 24 months at least of being way lower than cap.  It's just a few days.  

"Lucky indeed".  Tell me you shouldn't have been on tracker in the first place without telling me you shoudn't have been on tracker in the first place.

I think it might be different if there was no end date to tracker Dec 23, people would be much more willing to ride it out.  But with that end date just round the corner it's more a question of if it's better to get out now or wait until February.

This is my attitude anyway and I left tracker a couple of weeks ago.

If you're getting nervous about a few days of expensive electricity, when the rest of the year has been well below SVT, then I'd suggest its best to get out.

People should be looking at what they've paid over a rolling 12 month period, and the trend within that, not fixating on todays price. The same can be said of those on Agile.

ceepan

There is a Savings Session this evening between 1800 and 1900 which may help to offset the increased rate today.

tghe-retford

The danger comes if next week the wind comes back, the sun shines, the nuclear power stations come back online but the prices on the wholesale market remain high due to other factors or if speculators believe the free market will pay the higher prices and this becomes "the new normal".

Then you do risk the prospect of having savings wiped out in the long term and fixes disappearing in the energy firms favour. Variable is just kicking the can down the road to April (with extra pennies per kWh on top).

crumpet_man

MeteredOut said:

crumpet_man said:

zoonyx said:

Some complete overreactions happening here.... you've had 24 months at least of being way lower than cap.  It's just a few days.  

"Lucky indeed".  Tell me you shouldn't have been on tracker in the first place without telling me you shoudn't have been on tracker in the first place.

I think it might be different if there was no end date to tracker Dec 23, people would be much more willing to ride it out.  But with that end date just round the corner it's more a question of if it's better to get out now or wait until February.

This is my attitude anyway and I left tracker a couple of weeks ago.

If you're getting nervous about a few days of expensive electricity, when the rest of the year has been well below SVT, then I'd suggest its best to get out.

People should be looking at what they've paid over a rolling 12 month period, and the trend within that, not fixating on todays price. The same can be said of those on Agile.

I did look at what I have paid and it's pretty much going up every month.  Now I have switched to Tomato I'm averaging 17p which I cannot see happening again with Tracker Dec 23.  

zoonyx

And of course ‘new’ tracker, at least at the moment, looks almost like they just want to close it down really.

do we think they will ever improve tracker or is it only going one way now?

Telegraph_Sam

Consolation thought for those on ToU tariffs, suffering from the current low wind environment: 
Unless you / we have an exceptionally well insulated house then (according to my hypothesis) we will be benefiting from reduced heat loss to counter the actual spend on energy. I had cavity wall insulation done some years ago but for a given room thermostat setting I feel "warmer" when it's a dead calm outside. I can't "prove" this scientifically - but would be keen to hear from anyone who can!

FreeBear

Telegraph_Sam said: I had cavity wall insulation done some years ago but for a given room thermostat setting I feel "warmer" when it's a dead calm outside. I can't "prove" this scientifically - but would be keen to hear from anyone who can!

The work as already been done, so you don't need to prove anything. If you take a look at sites like Wunderground, they give you temperatures and wind speed. Next to it, they will give you a "feels like" temperature that takes in to account wind chill.

masonic

zoonyx said:

And of course ‘new’ tracker, at least at the moment, looks almost like they just want to close it down really.

do we think they will ever improve tracker or is it only going one way now?

It has been repriced to include costs that have come into play in the years since the tariff was originally launched. If they wanted to close it down, then they could make it unavailable to new customers and renewals at any time. It would be a lot less hassle than playing around with the costs every quarter. Even the new formula looks a bit better than SVT over the long run.

There are good reasons to think prospects elsewhere will be better (such as Agile, or Tomato Energy if you dare, or a fix if you believe next year will be more like the past month than the spring/summer), but if you are suddenly questioning things in the middle of a period of supply shortage, then that is a red flag. This is not the first time prices have spiked and it will not be the last.

zoonyx

masonic said:

zoonyx said:

And of course ‘new’ tracker, at least at the moment, looks almost like they just want to close it down really.

do we think they will ever improve tracker or is it only going one way now?

It has been repriced to include costs that have come into play in the years since the tariff was originally launched. If they wanted to close it down, then they could make it unavailable to new customers and renewals at any time. It would be a lot less hassle than playing around with the costs every quarter. Even the new formula looks a bit better than SVT over the long run.

There are good reasons to think prospects elsewhere will be better (such as Agile, or Tomato Energy if you dare, or a fix if you believe next year will be more like the past month than the spring/summer), but if you are suddenly questioning things in the middle of a period of supply shortage, then that is a red flag. This is not the first time prices have spiked and it will not be the last.

To be clear: I was the one who posted this yesterday having a go at people panicing over a spike.

HOWEVER.. stand by for an about turn.  I'm fixing.  I've been on tracker for years now, but my reasoning is as follows:

Both fuels are on December 23, and expire in February 24.  The fix currently is around 22p for me,and **IGNORING THE CURRENT SPIKES** it's not often its consistently below that even on December 23.  On October 24, it will be even higher so I don't see the point in sticking.

In Feb, the fix will likely be higher according to predictions, and if I leave now at least the tracker 9 month cool off starts now rather than feb.

Please feel free to point out the flaw in my plan, but I'm now pretty certain I may as well fix.  

This is electric only - I'd prob leave Gas on tracker for now, but Gas is pretty boring anyway. 

bristolleedsfan

zoonyx said:

masonic said:

zoonyx said:

And of course ‘new’ tracker, at least at the moment, looks almost like they just want to close it down really.

do we think they will ever improve tracker or is it only going one way now?

It has been repriced to include costs that have come into play in the years since the tariff was originally launched. If they wanted to close it down, then they could make it unavailable to new customers and renewals at any time. It would be a lot less hassle than playing around with the costs every quarter. Even the new formula looks a bit better than SVT over the long run.

There are good reasons to think prospects elsewhere will be better (such as Agile, or Tomato Energy if you dare, or a fix if you believe next year will be more like the past month than the spring/summer), but if you are suddenly questioning things in the middle of a period of supply shortage, then that is a red flag. This is not the first time prices have spiked and it will not be the last.

In Feb, the fix will likely be higher according to predictions, and if I leave now at least the tracker 9 month cool off starts now rather than feb.

Please feel free to point out the flaw in my plan, but I'm now pretty certain I may as well fix.  

9 month rule does not apply when fixed term is honoured by customer(s)

How I see it is customers who see out fixed term might then decide tracker is better than alternatives, stay on tracker then back into cycle of cannot make decision to leave due to 0 month rule.

People can bang on as much as they like about gas being cheaper than SVR or not much different than fixed rates,12 month averages, does not alter fact all tracker gas customers are paying more so far this winter than consumers with/without smart meters who fixed with no exit fees late July - first week in August ( 5.39p kWh ish as well as early October.5.47p kWh ish.