So will Octopus keep to their word and start communicating with customers today?

SJMALBA

gt94sss2 said:

Alnat1 said:

Then there's another simple answer, everyone on Agile/Tracker gets the 11p/35p caps for 2 years.

Those who've got the lower Tracker rates now keep them until their 12 months are up then offered 11p/35p.

Reading some of the comments here, l suspect some at Octopus may think it may just be an idea to scrap these tariffs.

Its not like there is going to be much competition for the next few years..

Given that these 'specialist' tariffs are part of Octopus' USP, I don't think that they would want to ditch them... unless, they see it as an opportunity to get them off the hook for subsiding above the unit rate caps (though they could 'break with tradition' and increase, or remove the caps anyway)?

Ally_E.

Another week gone and no comms from Octopus about fixed tariffs

[Deleted User]

Alnat1 said:

Then there's another simple answer, everyone on Agile/Tracker gets the 11p/35p caps for 2 years.

Those who've got the lower Tracker rates now keep them until their 12 months are up then offered 11p/35p.

Yes, provided the supplier can claim the difference in actual energy costs back from the Government. As others have said, these tariffs are outliers compared to what the rest of the industry is offering. Very few people on this forum would be on them were it not for the Octopus self-imposed caps.

The Agile cap is now 78p! That may well have been set to discourage future switchers.

niktheguru

fryedslyce said:

BeerSavesMoney said:

I think that Octopus might just keep it simple and either say they can move over to the standard tariff or remain on their current tracker or agile tariff.

Then they should say so now, so customers can decide what to do. This ongoing delay is entirely unreasonable and bordering on incompetence.

How long is it going to take you to decide?

I'd rather they got their house completely in order before informing customers. The customer services are already pretty clueless about tracker which is pretty shameful as these aren't new tariffs.

MWT

Ally_E. said:

Another week gone and no comms from Octopus about fixed tariffs

5 out of 7 days perhaps, but remember it was Sunday when the SVT stuff really started flowing, so I wouldn't give up on this week just yet...

savers_united

Alnat1 said:

Then there's another simple answer, everyone on Agile/Tracker gets the 11p/35p caps for 2 years.

Those who've got the lower Tracker rates now keep them until their 12 months are up then offered 11p/35p.

Don't think it will work like that and this is why I think tracker may get removed, those already in their 12mth fixed term can remain or switch to the SVT, but after the fixed term ends my feeling they will automatically move to the SVT, otherwise virtually all Octopus customers will be better off switching to tracker, they get within less than a penny of the the EPG and have opportunity of days when the rate falls below, over 12mths that is likely to happen on a number of occasions so a no brainer compared with the SVT. 

MWT

savers_united said:

Alnat1 said:

Then there's another simple answer, everyone on Agile/Tracker gets the 11p/35p caps for 2 years.

Those who've got the lower Tracker rates now keep them until their 12 months are up then offered 11p/35p.

Don't think it will work like that and this is why I think tracker may get removed, those already in their 12mth fixed term can remain or switch to the SVT, but after the fixed term ends my feeling they will automatically move to the SVT, otherwise virtually all Octopus customers will be better off switching to tracker, they get the EPG and opportunity to have days when the rate falls below, a no brainer compared with the SVT. 

Precisely, if the worst it could get on Agile/Tracker is also the best it could be on the SVT, then people would be crazy not to move off of the SVT.

savers_united

SJMALBA said:

As far as I can see, the obvious way to apply EPG to Tracker is to reduce the unit rate caps:

v1 would have no change because its UR caps are below EPG.

v2/v3 UR caps would be reduced to EPG, which means that you wouldn't pay more than EPG, but if you pay less, then that is because it is an inherent feature of the tariff, and not because of the application of EPG.

With later Tracker versions, the maximum EPG reduction to their UR caps would still leave customers (potentially) paying more than EPG, in which case, these customers can choose whether to stay on Tracker, or switch to SVT.

In other words, similar to the application of EPG to Fixed tariffs?

(Yes, Tracker is a variable tariff, but so is SVT, and while EPG is primarily for SVT, they have chosen to apply it to Fixed tariffs too, so why not another variable tariff, such as Tracker?)

Is there not a case for Gov't saying, why don't your tracker customers just move to the EPG SVT, it's variable, there are no exit fee's why would they want to stay.... Errrr because there may be days where they could pay less than the SVT.... So they / you want the penny and the bun, EPG protection and to pay less than everyone else if wholesale prices fall... On your bike..

I think it's safe to say that tracker / agile are likely to not have the most vulnerable households either, more likely savvy individuals who have seen a tariff that undercuts the SVT and fixes with a 12mth fixed term. 

Spoonie_Turtle

savers_united said:

SJMALBA said:

As far as I can see, the obvious way to apply EPG to Tracker is to reduce the unit rate caps:

v1 would have no change because its UR caps are below EPG.

v2/v3 UR caps would be reduced to EPG, which means that you wouldn't pay more than EPG, but if you pay less, then that is because it is an inherent feature of the tariff, and not because of the application of EPG.

With later Tracker versions, the maximum EPG reduction to their UR caps would still leave customers (potentially) paying more than EPG, in which case, these customers can choose whether to stay on Tracker, or switch to SVT.

In other words, similar to the application of EPG to Fixed tariffs?

(Yes, Tracker is a variable tariff, but so is SVT, and while EPG is primarily for SVT, they have chosen to apply it to Fixed tariffs too, so why not another variable tariff, such as Tracker?)

Is there not a case for Gov't saying, why don't your tracker customers just move to the EPG SVT, it's variable, there are no exit fee's why would they want to stay.... Errrr because there may be days where they could pay less than the SVT.... So they / you want the penny and the bun, EPG protection and to pay less than everyone else if wholesale prices fall... On your bike. 

Hypothetically speaking, if the government did subsidise down to or near the EPG:  If the retail Tracker price drops to or below the EPG, that's less for the government to subsidise (no subsidy needed for units used those days) AND Octopus get a little bit of profit from those units, because profit is calculated into the unit rates.  On days when the retail price of Tracker drops below the Ofgem cap (but not the EPG) then that's still less for the government to subsidise.  And Octopus are already subsidising unit rates above their voluntary caps themselves.

Note: I am not implying any opinion about it even being a potential option. Just responding to your reasoning there. 
[I'm well aware it's probably far more likely to be a case of the government not agreeing to anything complicated, which any support for Tracker would be - especially as the people now in government appear not to care in the slightest about trying to move away from fossil fuels, which is what the electricity Tracker/Agile tariffs are ultimately designed to support.]

savers_united

Spoonie_Turtle said:

savers_united said:

SJMALBA said:

As far as I can see, the obvious way to apply EPG to Tracker is to reduce the unit rate caps:

v1 would have no change because its UR caps are below EPG.

v2/v3 UR caps would be reduced to EPG, which means that you wouldn't pay more than EPG, but if you pay less, then that is because it is an inherent feature of the tariff, and not because of the application of EPG.

With later Tracker versions, the maximum EPG reduction to their UR caps would still leave customers (potentially) paying more than EPG, in which case, these customers can choose whether to stay on Tracker, or switch to SVT.

In other words, similar to the application of EPG to Fixed tariffs?

(Yes, Tracker is a variable tariff, but so is SVT, and while EPG is primarily for SVT, they have chosen to apply it to Fixed tariffs too, so why not another variable tariff, such as Tracker?)

Is there not a case for Gov't saying, why don't your tracker customers just move to the EPG SVT, it's variable, there are no exit fee's why would they want to stay.... Errrr because there may be days where they could pay less than the SVT.... So they / you want the penny and the bun, EPG protection and to pay less than everyone else if wholesale prices fall... On your bike. 

Hypothetically speaking, if the government did subsidise down to or near the EPG:  If the retail Tracker price drops to or below the EPG, that's less for the government to subsidise (no subsidy needed for units used those days) AND Octopus get a little bit of profit from those units, because profit is calculated into the unit rates.  On days when the retail price of Tracker drops below the Ofgem cap (but not the EPG) then that's still less for the government to subsidise.  And Octopus are already subsidising unit rates above their voluntary caps themselves.

Note: I am not implying any opinion about it even being a potential option. Just responding to your reasoning there. 
[I'm well aware it's probably far more likely to be a case of the government not agreeing to anything complicated, which any support for Tracker would be - especially as the people now in government appear not to care in the slightest about trying to move away from fossil fuels, which is what the electricity Tracker/Agile tariffs are ultimately designed to support.]

It is rather messy and not sure for the numbers involved it would be a worthwhile exercise, it would also depend I guess on what Octopus submit in terms of support for these tariffs, they may look to remove their own caps and be asking for full support, the next question is then why would anyone with octopus stay on the SVT and not just move to the tracker tariff if as you say it works out cheaper for the Gov't. 

If I was dealing with this for Gov't I would certainly be asking questions regarding these specialist tariffs and why they need any kind of support when the option of the EPG tariff is available.