Octopus Tracker

Trendrejector

Crikey.expected but still pretty shocking. Still way up since joining last march.

BargainBear

Considering Octopus Flexible for our region is currently 25.60 p/kWh | 55.79 p/day SC, I'm surprised the electricity Tracker has gone so high, but at the same time I'm not surprised.

I get the impression Octopus are now using Tracker to claw back money.

Fixed is showing as 24.60 p/kWh | 55.79 p/day on the Octopus 14M Fixed January 2025 v1 tariff.  On Tuesday it was showing as 23.89 p/kWh | 55.79 p/day on the Octopus 12M Fixed January 2025 v1 tariff.  So in 2 days it's increased by almost a penny, and the tracker has become incredibly volatile and bullish.

Given they put me on the December 2024 Gas fixed with no questions asked, albeit it appears an error on the handlers part.  I may email again and be cheeky asking to fix our electricity too and say I made a mistake by only requesting gas, as the rate on December 2024 was 23.45 p/kWh and same SC as now.

Email sent so we'll see what they say.  If not, I'll just switch to the fixed electricity tariff which is live today; if you don't ask you don't get!

Silver lining is albeit the gas price came back down on Tracker today, it's still above the fixed price I was put on yesterday.

bristolleedsfan

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

BargainBear

Trendrejector said:

Crikey.expected but still pretty shocking. Still way up since joining last march.

Given the surge in EV purchases in 2024 of 21.4% versus 2023, and the push from the Government to go EV, albeit now pushed to 2035, I'm not surprised in the electricity price spikes.

Cold weather doesn't bode well for EV range, this compounds the lack of access to capacity Octopus have when people plug in at home and results in more vehicles needing charging instead, whilst having less to share during peak times. Add to that what Podseas said, low wind speeds so less generation of renewables means more requirement to purchase at a higher price to fulfil demand.

QrizB

Received my December bill for gas Tracker today. Average gas price of 5.48p+VAT = 5.754p/kWh. That was cheaper than Flexible or the 12m Dec24v1 fix, based on my previous post.

It was also cheaper than the current 14m Jan25v1 fix of 6.25, or the preceding 12m Jan25v1 fix of 6.22.

I'm still sticking with gas Tracker. My term on Dec23v1 ends mid-Feb so I don't need to make a decision for another month or so.

Doc_N

bristolleedsfan said:

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

That’s a pretty shocking indictment of the greed of Octopus.

debitcardmayhem

Doc_N said:

bristolleedsfan said:

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

That’s a pretty shocking indictment of the greed of Octopus.

Get real, what was the SVT then and now, or doesn’t the commodity market in your world, geez

matt_drummer

Doc_N said:

bristolleedsfan said:

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

That’s a pretty shocking indictment of the greed of Octopus.

Or, perhaps, their generosity in the past?

QrizB

matt_drummer said:

Doc_N said:

bristolleedsfan said:

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

That’s a pretty shocking indictment of the greed of Octopus.

Or, perhaps, their generosity in the past?

Or possibly just a sign of some dodgy maths?

The formula was (W * 1.2012) + 10.0928 p per kWh

And is now (W * 1.22442) + 12.29569 p per kWh

So for the old formula to give 30p/kWh, W would be 16.573p.

And for the new formula to give 42.3p, W would be 24.505p.

Now, I'm no expert but those two W values seem quite different.

For comparison, a W value of 16.573 would give a "current formula" price of 32.59p/kWh (vs 30p for the original formula). And a W of 24.505p would give an "original formula" price of 39.53p/kWh (vs. 42.3p for the current one).

matt_drummer

QrizB said:

matt_drummer said:

Doc_N said:

bristolleedsfan said:

Friday -  Nth West Region - Original Tracker would have been 30p kWh, current version 42.3pkWh

That’s a pretty shocking indictment of the greed of Octopus.

Or, perhaps, their generosity in the past?

Or possibly just a sign of some dodgy maths?

The formula was (W * 1.2012) + 10.0928 p per kWh

And is now (W * 1.22442) + 12.29569 p per kWh

So for the old formula to give 30p/kWh, W would be 16.573p.

And for the new formula to give 42.3p, W would be 24.505p.

Now, I'm no expert but those two W values seem quite different.

Is that the formula for the original/first version of the Tracker tariff?