Octopus Tracker

macman

I went on supply with Tracker yesterday for gas only, and today it's showing 14.08p per kWh, so below the cap of 16p.

Spoonie_Turtle

Note that anyone wanting switch to Tracker now will have the higher maximum rates, 78p for electricity and 22p for gas. 

It might still be worth it to some people based on January's predictions, but it is a vastly different decision from the previous maximum rates of 55p/16p.

70sbudgie

QrizB said:

Spoonie_Turtle said:

*Edit: okay, that turned out to be a bit melodramatic - today it's down into the 40s!  Who'd ever have thought 47p would be a *good* day?!

Tomorrow's looking to be ~40p, almost a bargain

70sbudgie said:

Spoonie_Turtle said:

Cap that was in operation on August 13 would apply -55p

Thank you very much! The info you have given helps me answer the questions. I will definitely be sticking with Flexible Octopus. 

And much like Pochase, I don't quite understand how you're choosing the flexible rate rather than a 12-month 55p capped one? In four weeks Flexible will be almost the same as that cap, then it's expected to rise again in January and (perhaps) April?

Ok, so there are a few reasons, that I've not shared. I am choosing between flexible and agile - not the tracker. Also, I have E7 flexible and an Octopus loyalty discount. I'm guessing that the loyalty discount would apply anyway, but I think a flat rate of 55p will be more expensive than the E7, even if it is subject to further increases. I was away from home this week, so haven't done a full calc. But will now I've access to a full computer instead of just my phone. I will let you know if I change my mind.

I also have PV and am on outgoing agile. I appreciate that in winter that isn't much mitigation, but by the April hike, it should start to be helping again.

SJMALBA

'Cheap' gas today?

QrizB

SJMALBA said:

'Cheap' gas today?

Better than that - as there's only one price set for the days the exchange is closed, it's a cheap gas weekend!

milo_2020

Why the massive jump down?

macman

Probably a reaction to Germany announcing that it has nearly reached it's target of filling it's storage to 85% by October.  But it'll inevitably spike back up again today after the full closure of Nordstream 1.

Chrysalis

Planeteer said:

Does someone know how to read these tracker charts and what it means for one's tariff?

It seems to mention a "daily cost" as well as a "wholesale price". What's the difference between the two, and which am I being charged?

The bottom figure is the price per kWh.
The daily cost is the cost to you for today (so far) based on your usage.

Chrysalis

Spoonie_Turtle said:

Octopus Tracker is kind of like Agile in that it follows wholesale prices, but daily rather than half-hourly.  The way wholesale prices are going, there's no guarantee unit rates will ever come back below the previous 55p cap*, so many of us are treating it like a 12-month fix at 55p and if we ever get days below that, it's a bonus.  Likewise with the new Tracker cap of 78p, by October the unit prices might be there and stay there.  But customers won't pay more than that maximum, for the 12 months they're on Tracker.

*Edit: okay, that turned out to be a bit melodramatic - today it's down into the 40s!  Who'd ever have thought 47p would be a *good* day?!

Whereas Flexible Octopus is the standard variable rate, 'protected' by Ofgem's cap which will change every 3 months.  October's looks like 52p for electricity, but the high predictions for January onwards are the reason a fair few of us have jumped to Tracker recently.  I'm not sure how the current Tracker/Agile maximum amounts compare with current predictions.

I can't answer any of your questions about your position with Agile, but on your account page it should tell you (in a white box) your current tariff and the rates you're paying.

Agile because its half hourly rates, it just dynamic unit rate but does present a graph for current day right below it on the dashboard, of course for me nearly every day this graph is pinned at 35p, but yesterday it did drop to low 20s for a few hours.  Probably for the first time in about a month.  Sunday is usually the day unit rates will drop of it happens, which indicates its industrial demand driving these rates.

Your advice is sound and I agree 100%, best to treat these tariffs as cheaper fixed deals.  Any days that do drop below as a bonus.

Chrysalis

macman said:

Probably a reaction to Germany announcing that it has nearly reached it's target of filling it's storage to 85% by October.  But it'll inevitably spike back up again today after the full closure of Nordstream 1.

Wonder if we all going to pay more every summer now as Europe fills its storage during the summer months.  Time will tell I guess.