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

savers_united

Chrysalis said:

MWT said:

Chrysalis said:

niktheguru said:

What people haven't mentioned is that Octopus have no real duty to make the cap the epg. They may redcue the cap to just above the epg and say this is what it is. You may have to pay more than the epg but some days you may well pay much less. That is the risk on tracker. That was always the deal for those of us that were early adopters when there wasn't even a cap.

Octopus introduced caps to incentivise the tariff and make sure customers didn't get shafted with ridiculously high prices on any one day, it wasn't designed so the top limit was svt and customers would only benefit from savings.

It makes no sense for them to make it at epg.  Then it will easily be the best tariff and everyone to swarm with it. Perhaps they'll close it to new customers. It's less hassle for them to just say it is what it is and just allow everyone who is worse off to go to svt. At the end of the day who knows, but maybe they're currently working out at what level the cap should be so it's fair for both parties.

I mean I did post right above you that cant happen, as the current tracker tariffs with subsidy would be nowhere near EPG.

The good tracker tariffs are no longer available to switch to.

Octopus might prefer people to leave the trackers though, I agree with you on that one, as it isnt clear how they manage to keep people on such low caps on tariffs that are based on daily prices.

Why would they change the cap for those already below the current version of the tariffs, but leave the current version alone?

That really doesn't make sense either...

But your basis of agreeing with saver was that you think people would flock to the current Agile tariff, that would only be dropped to around 61p cap.

Sorry to jump in and maybe I have misunderstood how this EPG will work, but if Octopus manage to get the Gov't to treat tracker in the same way they treat the SVT in terms of subsidy could it open the door for Octopus to keep offering tracker at very close / on par with the SVT in terms of a cap.

The subsidy would i assume give them a level of protection that they did not have before, so the more recent caps could be brought back down to tracker v3 type levels. For Gas that may be within a penny of the EPG, I guess it depends on the appetite by octopus to continue with these types of tariffs, keeping them at the close to the current caps on the August 2022 version means the tariff is all but dead in the water as no one is going to opt for it vs the EPG. 

SJMALBA

alanwsg said:

Do you think it would be a good idea to start a separate thread to discuss all this 'tracker/agile' stuff?

There are pages & pages of arguments about it and they bury any queries about their 'normal' tariffs.

Why? The thread is about Octopus communicating with their customers; it is not specifically about 'normal' tariffs, and the fact that they haven't yet done so in respect of Tracker et al is the reason for all of the discussion (speculation!), so not OT, IMO.

Of course, if it turns out that EPG will not apply to these tariffs, then the thread would (unintentionally) be specifically about 'normal' tariffs, so... Oooh, my head hurts.

Bottom line, we are all wanting to know what is going to happen, so that informed decisions can be made, irrespective  of which Octopus tariff we are on.

Chrysalis

savers_united said:

Sorry to jump in and maybe I have misunderstood how this EPG will work, but if Octopus manage to get the Gov't to treat tracker in the same way they treat the SVT in terms of subsidy could it open the door for Octopus to keep offering tracker at very close / on par with the SVT in terms of a cap.

The subsidy would i assume give them a level of protection that they did not have before, so the more recent caps could be brought back down to tracker v3 type levels. For Gas that may be within a penny of the EPG, I guess it depends on the appetite by octopus to continue with these types of tariffs, keeping them at the close to the current caps on the August 2022 version means the tariff is all but dead in the water as no one is going to opt for it vs the EPG. 

Is detailed here.

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

For the small number of consumers who fixed at a high rate exceeding the October Ofgem price cap of £3,549, they will receive the full discount of 17p for electricity and 4.2p for gas. However, given the higher starting point, their fixed rate tariff will still have a unit rate that is above the EPG rates.

Subsidy is limited to max of 17p for electric and 4.2p for gas. 

Current Agile is 78p, 44p above EPG and 42P above 35p Agile.  Current gas tracker is 22p, which is 11.7p above EPG and 11p over V3.

Etccarmageddon

SJMALBA said:

alanwsg said:

Do you think it would be a good idea to start a separate thread to discuss all this 'tracker/agile' stuff?

There are pages & pages of arguments about it and they bury any queries about their 'normal' tariffs.

Why? The thread is about Octopus communicating with their customers; it is not specifically about 'normal' tariffs, and the fact that they haven't yet done so in respect of Tracker et al is the reason for all of the discussion (speculation!), so not OT, IMO.

Of course, if it turns out that EPG will not apply to these tariffs, then the thread would (unintentionally) be specifically about 'normal' tariffs, so... Oooh, my head hurts.

Bottom line, we are all wanting to know what is going to happen, so that informed decisions can be made, irrespective  of which Octopus tariff we are on.

I agree and I am coming here to this thread each day to see if there's any info regarding GO and Intelligent.

niktheguru

Chrysalis said:

savers_united said:

Sorry to jump in and maybe I have misunderstood how this EPG will work, but if Octopus manage to get the Gov't to treat tracker in the same way they treat the SVT in terms of subsidy could it open the door for Octopus to keep offering tracker at very close / on par with the SVT in terms of a cap.

The subsidy would i assume give them a level of protection that they did not have before, so the more recent caps could be brought back down to tracker v3 type levels. For Gas that may be within a penny of the EPG, I guess it depends on the appetite by octopus to continue with these types of tariffs, keeping them at the close to the current caps on the August 2022 version means the tariff is all but dead in the water as no one is going to opt for it vs the EPG. 

Is detailed here.

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

For the small number of consumers who fixed at a high rate exceeding the October Ofgem price cap of £3,549, they will receive the full discount of 17p for electricity and 4.2p for gas. However, given the higher starting point, their fixed rate tariff will still have a unit rate that is above the EPG rates.

Subsidy is limited to max of 17p for electric and 4.2p for gas. 

Current Agile is 78p, 44p above EPG and 42P above 35p Agile.  Current gas tracker is 22p, which is 11.7p above EPG and 11p over V3.

But these tariffs in question aren't fixed, they're variable tariffs (except go and go faster, tho you can argue the off set off peak rates keep them below the epg) so this really doesn't necessarily apply.

Everything anyone is saying is just pure speculation at this point. The reality is octopus can do whatever they want with these tariffs. Given they have no exit fees no customer will be worse off compared to EPG as you can just switch onto the variable tariff with no complication........so its just a waiting game to see what octopus actually decides to do for the smart tariffs.

[Deleted User]

Octopus may be ruing the day that they brought in Agile and Tracker. They have tried to be fair to customers by fixing the duration of the contract to 12 months to give certainty that they will not change what are VOLUNTARY caps on dynamic tariffs. FWiW, I don’t think that Octopus has to do anything about changing these tariffs. Like high price fixes, consumers have the right to switch to the EPG without penalty.

Will Octopus do something: time will tell.

Spoonie_Turtle

[Deleted User] said:

Octopus may be ruing the day that they brought in Agile and Tracker. They have tried to be fair to customers by fixing the duration of the contract to 12 months to give certainty that they will not change what are VOLUNTARY caps on dynamic tariffs. FWiW, I don’t think that Octopus has to do anything about changing these tariffs. Like high price fixes, consumers have the right to switch to the EPG without penalty.

Will Octopus do something: time will tell.

They don't HAVE to, no.  If it were any other company I wouldn't be holding out any hope of them even attempting to sort something out, but it's precisely their history of trying to treat customers fairly and their mission to make greener tariffs a real option are the reason I'm convinced they have at least tried.  Whether they can sort anything out is another matter.

CanNeverThinkOfAUsername

I love that we still have no news, but we have pages and pages of what *might* happen. It's like standing at a bus stop listening to the cute old couple chatting. I'm 100% here for it!!!  haha

Chrysalis

niktheguru said:

Chrysalis said:

savers_united said:

Sorry to jump in and maybe I have misunderstood how this EPG will work, but if Octopus manage to get the Gov't to treat tracker in the same way they treat the SVT in terms of subsidy could it open the door for Octopus to keep offering tracker at very close / on par with the SVT in terms of a cap.

The subsidy would i assume give them a level of protection that they did not have before, so the more recent caps could be brought back down to tracker v3 type levels. For Gas that may be within a penny of the EPG, I guess it depends on the appetite by octopus to continue with these types of tariffs, keeping them at the close to the current caps on the August 2022 version means the tariff is all but dead in the water as no one is going to opt for it vs the EPG. 

Is detailed here.

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

For the small number of consumers who fixed at a high rate exceeding the October Ofgem price cap of £3,549, they will receive the full discount of 17p for electricity and 4.2p for gas. However, given the higher starting point, their fixed rate tariff will still have a unit rate that is above the EPG rates.

Subsidy is limited to max of 17p for electric and 4.2p for gas. 

Current Agile is 78p, 44p above EPG and 42P above 35p Agile.  Current gas tracker is 22p, which is 11.7p above EPG and 11p over V3.

But these tariffs in question aren't fixed, they're variable tariffs (except go and go faster, tho you can argue the off set off peak rates keep them below the epg) so this really doesn't necessarily apply.

Everything anyone is saying is just pure speculation at this point. The reality is octopus can do whatever they want with these tariffs. Given they have no exit fees no customer will be worse off compared to EPG as you can just switch onto the variable tariff with no complication........so its just a waiting game to see what octopus actually decides to do for the smart tariffs.

I am staying out of this "why agile should or should not be part of the EPG" discussion now, just going to wait until Octopus announce something.

The post above you quoted was just to answer saver's question as he/she was unsure of why the current tariff would not go down to the older tariff unit rates.

SJMALBA

Posted yesterday, presumably, so this week?