Tracker confusion

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teena
teena Posts: 46 Forumite
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Hi all
Thanks to you all I have been aware of the Tracker option and have thought about moving to it. Due to some mishaps with Octopus I switched to GEUK so am on a fix until next autumn but Octopus have agreed I could go back to them on a tracker of 11p gas/40p elect caps. This would be about £20 a month more if the rates were always at their caps. So the gamble is whether the rates are below the caps for a significant amount of time.

My confusion is that on here people are talking about low rates at the moment but the person I spoke to at Octopus today said that the rates have been at the cap for some time recently. What is it that I don't understand about how this works? There seems to be a contradiction.
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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    edited 27 October 2022 at 12:39PM
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    Agile and Tracker prices are low at the moment because there is a glut of gas; little consumer demand and storage facilities are full. If you are hoping it will stay that way then experts across the World have got it wrong.

    There is an old saying ‘a bird in the hand…….’

    Today’s Agile rates for Wales:


  • millie
    millie Posts: 1,447 Forumite
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    I thought Octopus had stopped taking customers on Tracker at the moment
  • teena
    teena Posts: 46 Forumite
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    Thanks - it was just that the Octopus person said that prices were high at the moment. Hence I am confused as to what to do.
    Millie - I was in a dispute with them and the offer is part of the resolution as I had missed out on that tracker because of them!

  • MWT
    MWT Posts: 9,287 Forumite
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    teena said:
    Thanks - it was just that the Octopus person said that prices were high at the moment. Hence I am confused as to what to do.

    Have a look at the history of the gas prices here: https://energy.guylipman.com/sm/gastracker
    Until recently your gas price would have been at or close to the cap on the Tracker V3 tariff you have been offered.
    Right now it is lower but there are special circumstances in play at the moment, so this is not likely to remain this low for very long...



  • Spoonie_Turtle
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    That version of Tracker should have the EPG discount so it will never go higher than the SVT, at least until April.  Then you're insulated against SVT rises for I assume 6 months, in the weather months when wholesale prices may be lower again.

    That Tracker version to me would be a no-brainer.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    That Tracker version to me would be a no-brainer.
    Agreed. A year on "Tracker V3" with 11p/40p caps sounds a worthwhile switch under current circumstances.

    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • Alnat1
    Alnat1 Posts: 3,332 Forumite
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    Agree, jump on that Tracker tariff if you can
    Barnsley, South Yorkshire
    Solar PV 5.25kWp SW facing (14 x 375 Longi) Lux 3.6kw hybrid inverter and 4.8kw Pylontech battery storage installed March 22
    Octopus Agile/Fixed Outgoing and Tracker gas
  • [Deleted User]
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    QrizB said:
    That Tracker version to me would be a no-brainer.
    Agreed. A year on "Tracker V3" with 11p/40p caps sounds a worthwhile switch under current circumstances.

    I understood from another forum that new time-of-use tariffs may not be fixed for 12 months.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    edited 28 October 2022 at 8:54AM
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    Dolor said:
    QrizB said:
    That Tracker version to me would be a no-brainer.
    Agreed. A year on "Tracker V3" with 11p/40p caps sounds a worthwhile switch under current circumstances.
    I understood from another forum that new time-of-use tariffs may not be fixed for 12 months.
     I think it's unlikely that users of that forum are familiar with the OP's specific situation:
    teena said:
    I was in a dispute with them and the offer is part of the resolution as I had missed out on that tracker because of them!

    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • [Deleted User]
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    QrizB said:
    Dolor said:
    QrizB said:
    That Tracker version to me would be a no-brainer.
    Agreed. A year on "Tracker V3" with 11p/40p caps sounds a worthwhile switch under current circumstances.
    I understood from another forum that new time-of-use tariffs may not be fixed for 12 months.
     I think it's unlikely that users of that forum are familiar with the OP's specific situation:
    teena said:
    I was in a dispute with them and the offer is part of the resolution as I had missed out on that tracker because of them!

    Fair enough. I should read back more before posting.
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