Can someone please explain what a Cap tracker is :)

tdawber

Hiya all

i am hoping someone can help me as google is useless

I am on a cap tracker but always been on a fixed deal so my knowledge is very limited about them.

Iv read t&c but find them very confusing, especially page 2.

What are the pros and cons of a cap tracker?

is a cap tracker better than the ofgem price cap? 

Will the price per kWh always be the same until March 2023?

Am I reading into it too much ????

Im sooo confused ((

QrizB

tdawber said:

• What are the pros and cons of a cap tracker?
• is a cap tracker better than the ofgem price cap? 
• Will the price per kWh always be the same until March 2023?
• Am I reading into it too much ????

Im sooo confused ((

A cap tracker tracks the Ofgem cap. In principle, at least, your prices will move up and down every April and October to follow changes in the Ofgem cap.

• Pros: could be cheaper than a fix *and* cheaper than variable. Cons: might not be either of those things, and it has an exit charge if you want to change or switch.
• Your specific cap tracker promises to be at least 7% cheaper than the Ofgem cap, which most would consider "better".
• No, the price will change every April and October when the Ofgem cap changes.
• Probably, yes

Does that help?

Verdigris

It looks like it is cap price less a DD discount, as stated. It is slightly cheaper than the cap price I have from Shell. Whether it is a good idea depends on your approach to risk. The likelihood is the next cap revision will be upward but if we have a mild winter there is a possibility that fixes at better terms may be available in April. However, I don't think those fixes will be anywhere near as low as what we have enjoyed in recent years, and the £30/fuel exit fee may negate any savings.

Top tip; buy a crystal ball!

tdawber

Amazing thank you, I thought with it saying fixed tariff type it wouldn’t change. But like you say its better than the price cap. Thank you so much

worrywart_3

Looks a good deal at the moment is this one that’s available at the moment ?

tdawber

It wasn’t my Intension to be on this deal, but Yes like most people I/we are stuck with this as nothing else on the market. 

tdawber

worrywart_3 said:

Looks a good deal at the moment is this one that’s available at the moment ?

The deal expired on 30 sep, sorry 🙁

Reed_Richards

Intelligence agencies around the globe are experimenting with the use of drones for covert surveillance.  But, at present, AI technology struggles to identify individuals when viewed from above.  The exception is when the person in question wears distinctive headgear, which should be flat-topped for greatest ease of identification from above.  Hence the name for the current state-of-the-art in this technology, a "cap tracker".