Octopus Tracker

Mstty

Spies said:

Are we in the mindset that tracker and agile won't be subsidised then?

They aren't classes as an SVT price capped tariff so no would be my answer

eliza2811

I'm gonna stay on Agile and Tracker for now.. . Just because the new PM says it, it doesn't mean it will happen.  Going on holiday next week, use Haven's gas and electric as much as possible (you pay enough to stay in their caravans 😉) and then see what's happening with the Energy Crisis.

Of course,  I will be really happy if Liz Truss does freeze the cap, but even at £2500 for the average household, a lot of people will still struggle with that cost.

Spies

Mstty said:

Spies said:

Are we in the mindset that tracker and agile won't be subsidised then?

They aren't classes as an SVT price capped tariff so no would be my answer

I suppose its possible that early adopters have rates under the new proposed freeze anyway? 

savers_united

The likes of tracker v2 & v3 are going to be a tough call against the freeze if it goes ahead.

At £2500 the Gas rate may be 9-10p, if you have a tracker with a cap of 11p that has potential to fall below 10p on certain days the difference could be very small, but once you give up tracker and the cap your certainly not going to get back on. Will need to check the finer detail of any freeze. 

Spies

savers_united said:

The likes of tracker v2 & v3 are going to be a tough call against the freeze if it goes ahead.

At £2500 the Gas rate may be 9-10p, if you have a tracker with a cap of 11p that has potential to fall below 10p on certain days the difference could be very small, but once you give up tracker and the cap your certainly not going to get back on. Will need to check the finer detail of any freeze. 

Tracker and Agile caps are only good for a year anyway, the freeze will continue for 2years so I don't feel that that decision should play into it. 

macman

If it's capped at £2,500, then the rumour is that the £400 rebate will still be applied, as plans for that are so advanced now.
Sp the 'real' cap would be £2100.

macman

Spoonie_Turtle said:

I did read mention (somewhere) of the idea of capping wholesale prices being mooted, which would in turn bring down Tracker and Agile prices.  But I'm not expecting anything specific, as they're relatively niche tariffs. 

The only subsidy that I would expect to affect it would be if they did a blanket discount on unit rates for everyone on every tariff. 

Likelihood of either of those two things, I don't know enough to even begin to speculate.

How could you cap wholesale prices? We buy half our gas from Norway, so you can't dictate to them what price they sell at to the UK. Same applies to our LNG imports from Australia, Qatar and the US.
Or are you talking about generation prices within the UK?

Spoonie_Turtle

macman said:

Spoonie_Turtle said:

I did read mention (somewhere) of the idea of capping wholesale prices being mooted, which would in turn bring down Tracker and Agile prices.  But I'm not expecting anything specific, as they're relatively niche tariffs. 

The only subsidy that I would expect to affect it would be if they did a blanket discount on unit rates for everyone on every tariff. 

Likelihood of either of those two things, I don't know enough to even begin to speculate.

How could you cap wholesale prices? We buy half our gas from Norway, so you can't dictate to them what price they sell at to the UK. Same applies to our LNG imports from Australia, Qatar and the US.
Or are you talking about generation prices within the UK?

No idea, it just said capping how much wholesalers could charge to suppliers - like I said, I don't know enough to speculate, and it was literally just a mention in one article.  IF something like that happened then you'd expect it to affect Tracker and Agile, but I don't even know if it would be possible let alone likely.

I can't find the article now but a faint niggle in my memory is saying perhaps it was something Europe wanted to do (I've read a lot today, my brain is very muddied) but again I don't know enough to know whether that would be feasible or what effect it might have.

[Deleted User]

macman said:

Spoonie_Turtle said:

I did read mention (somewhere) of the idea of capping wholesale prices being mooted, which would in turn bring down Tracker and Agile prices.  But I'm not expecting anything specific, as they're relatively niche tariffs. 

The only subsidy that I would expect to affect it would be if they did a blanket discount on unit rates for everyone on every tariff. 

Likelihood of either of those two things, I don't know enough to even begin to speculate.

How could you cap wholesale prices? We buy half our gas from Norway, so you can't dictate to them what price they sell at to the UK. Same applies to our LNG imports from Australia, Qatar and the US.
Or are you talking about generation prices within the UK?

The way the EU is claiming to cap oil prices is just banning anyone from buying at a price higher than the cap.  So they either buy it cheap or don't buy it at all.

Chrysalis

savers_united said:

The likes of tracker v2 & v3 are going to be a tough call against the freeze if it goes ahead.

At £2500 the Gas rate may be 9-10p, if you have a tracker with a cap of 11p that has potential to fall below 10p on certain days the difference could be very small, but once you give up tracker and the cap your certainly not going to get back on. Will need to check the finer detail of any freeze. 

Gas wholesale dropped to 6.x For 3-4 days this past week so we know it has the potential to go low, but overall it has mostly been pegged at the cap since I joined the tracker, I think normally through summer it would be lower but Germany etc. topping up their storage trashed the supply demand balance. 

If the cap is 10.5p or higher I am keeping v3 tracker, if its lower than 10p I am ditching it.  It seems very likely I will be keeping the 35p agile, as thats what we all predicting and Agile has 21p SC, plus the occasional dips.

This is assuming the freeze lasts as long as the tariff, if its 6 months or less I am keeping the tracker. As the biggest differential is about 9.7p as calculated by MWT, I would take paying 1p unit extra a day for the extra 4 months security.

If they cap all energy purchased regardless of tariff, then those who took later trackers like the 16p gas and 55p electric will be happy, as they still get the price dips, but now with lower caps.