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UK swimming in cheap gas

Mstty
Mstty Posts: 4,209 Forumite
1,000 Posts First Anniversary Photogenic Name Dropper
in Energy
Interesting read and reasons why we can't take the current day ahead prices as a sign the October price cap increase won't happen.

https://news.sky.com/story/amp/the-surreal-but-also-real-problem-of-britains-gas-glut-12614797
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Comments

  • MWT
    MWT Posts: 10,900 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    It is a good time to be on the Octopus Tracker tariff for sure, but the gas futures pricing is still very unpleasant when you look at the winter sadly...
  • QrizB
    QrizB Posts: 22,183 Forumite
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    edited 18 May 2022 at 9:13PM
    MWT said:
    It is a good time to be on the Octopus Tracker tariff for sure, but the gas futures pricing is still very unpleasant when you look at the winter sadly...
    It certainly is, on both counts.
    I'm surprised Tracker isn't more popular on the MSE forum. I might have mentioned it once or twice ...
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Kirk Hill Co-op member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
  • MWT
    MWT Posts: 10,900 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    QrizB said:

    I'm surprised Tracker isn't more popular on the MSE forum. I might have mentioned it once or twice ...
    If I was on the current Octopus Variable Tariff I'd have switched to Tracker a while ago.
    ... but I'm on a not terrible fixed tariff for gas and if I switch to Tracker I will not be able to get that fix again so given my current very low use it isn't worth it for me...

  • Mstty
    Mstty Posts: 4,209 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    So what would be the plan tracker in the summer variable in the winter?

    Is it also making a saving for electricity users?
  • k_man
    k_man Posts: 1,636 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    edited 19 May 2022 at 7:56AM
    Mstty said:
    So what would be the plan tracker in the summer variable in the winter?

    Is it also making a saving for electricity users?
    Currently, there is a saving on electric too.
    Last 2 weeks has been between 15p and 26p, but did get above SVT during March and April.

    https://energy.guylipman.com/sm/electracker

    For what it's worth, (this was discussed in another thread, just can't find currently), but my IHD and Bright do show daily prices (or close enough for me).

  • Mstty
    Mstty Posts: 4,209 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    Interesting, I am personally happy with my fix at the moment but definitely something to look at when that runs our in 2024.
  • k_man
    k_man Posts: 1,636 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Will be a different landscape by 2024!
  • GingerTim
    GingerTim Posts: 2,828 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 19 May 2022 at 8:53AM
    k_man said:
    Will be a different landscape by 2024!
    I'm not that optimistic...
  • Sea_Shell
    Sea_Shell Posts: 10,283 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It would appear that OFGEM don't want "active" customers for the foreseeable.

    We're probably going to have to "suck up" higher prices, even if they fall, until "they" have clawed back enough money to withstand "competition" again.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 3.24% of current retirement "pot" (as at end December 2025)
  • bristolleedsfan
    bristolleedsfan Posts: 12,942 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 19 May 2022 at 9:38AM
    k_man said:
    Mstty said:
    So what would be the plan tracker in the summer variable in the winter?

    Is it also making a saving for electricity users?
    Currently, there is a saving on electric too.
    Last 2 weeks has been between 15p and 26p, but did get above SVT during March and April.

    https://energy.guylipman.com/sm/electracker

    Saving for some people yes, saving for everyone not necessarily

    2nd April - 16th April tracker average daily rate was 28.08p + VAT  against flexible rate my region of 28.01p INC Vat, Standing charge current tracker version 41.98p compared with 28.58p ish Flexible after loyalty discount

    Currently waiting for current months statement which will have lower average. today tracker is 22.61p kWh

    Winter months I use just over 2 kWhs per day, since April 1st that has been reduced to just over 1 kWh per day 
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