Octopus Agile

mmmmikey

Netexporter said:

mmmmikey said:

Netexporter said:

Has Agile had a formula change, or is still the same as before?

It will be changing. Also the contracts will be for 12 months, although you'll still be allowed to switch without penalty.

Hi, for clarity, do you know for a fact that it will be changing or is that speculation on your part? As e understand it only the standing charges are changing on 15th February? Thanks, Mike 

It gave the details in the PDF attached to the email.

Thanks, so what is changing? The number they multiply the 1/2 hourly rate by or the amount that gets added between 16:00 and 19:00? Or do they just give an average unit price increase? Just asking because I had understood from elsewhere that only the SC was changing for Agile whereas both the SC and formula were changing for Tracker? Thanks again, Mike

Netexporter

It doesn't give details because it doesn't come into force for a few months. Just that the formula can be changed and the contract will last 12 months. I assume the prevailing forecasts, at the time, will determine the formula.

Officer_Dibble

Netexporter said:

Mine's going up about 4.7p. 

It will be interesting to see how the 12 month formulas change.

Mustn't grumble.

Mine specifically says that the formula CAN'T be changed during the 12 month fix. It comes into force on 15th Feb, so I don't think they'll be changing it before then.

"tariff terms, including your unit price formula and standing charge, will be fixed for 12 months"

Chrysalis

Agile may be the better bet for me then, if Octopus have already made the decision to keep as is for the short term. (SC changes but not formula).

Agile of course unlike the saving sessions actually offers genuine easy to take advantage of saving opportunities as well.

When I was on Agile I never really changed my usage habits deliberately either, it just happens my usage pattern fits in reasonably well with it.  (I typically dont have a peak time usage increase, and am often a night owl).

MeteredOut

Netexporter said:

It doesn't give details because it doesn't come into force for a few months. Just that the formula can be changed and the contract will last 12 months. I assume the prevailing forecasts, at the time, will determine the formula.

You said above the Agile formula "will be changing", now you're saying it can be changed. The latter is obviously true (but once changed, will stay that way for 12 months), but where do you get the "will be changing" and "doesn't come into force for a few months" from?

Netexporter

(Version D)

2.3.1 Prices for the Agile Octopus tariff are calculated based on a formula related to wholesale costs, and are usually published between 16:00-22:00 (normally, but not always, nearer 16:00), for the following day, with a different price for every 30 minutes of every day.

2.3.2.1 For customers who signed up or renewed before 11 December 2023: Agile Octopus is a Variable Rate Tariff, and your daily standing charge and the unit rate pricing formula is variable and subject to change. We will give you reasonable notice of any changes.

2.3.2.2 For customers who signed up or renewed after 11 December 2023: Agile Octopus is a Variable Rate Tariff with a fixed term. This means whilst your unit rate varies daily throughout the day, your daily standing charge and the unit rate pricing formula are fixed for the duration of your tariff term.

2.3.3 Prices can rise as well as fall, though the unit rate is capped at the amount specified at the time of switching. We will give you reasonable notice of any changes to the cap.

2.3.4 The variable nature of Agile Octopus means any prediction of future costs will be inaccurate and historical data will not predict future performance. Agile Octopus is a smart import tariff that allows you to unlock the cheaper and greener benefits of using energy according to wholesale costs. Sometimes peaks may be higher, sometimes lower. You will always be able to switch to one of our fairly priced standard tariffs at any time.

2.3.5 If upon signing up or renewing, you are put on an older version of the tariff than the one valid on the day of your signup or renewal (whichever is later), we reserve the right to amend your agreement to the correct version of the tariff which was live at the time of your sign up or renewal (whichever is later). We will not be liable for any financial losses resulting from this issue.

Spies

MeteredOut said:

Netexporter said:

It doesn't give details because it doesn't come into force for a few months. Just that the formula can be changed and the contract will last 12 months. I assume the prevailing forecasts, at the time, will determine the formula.

You said above the Agile formula "will be changing", now you're saying it can be changed. The latter is obviously true (but once changed, will stay that way for 12 months), but where do you get the "will be changing" and "doesn't come into force for a few months" from?

During this period of two weeks, the formula is changing for those on Agile tariffs pre Dec 2023, after that, the formula is locked for 12 months.

Newbie_John

Full email:

Your Agile standing charge & terms are changing Dear XYZ, Thanks for choosing Agile Octopus. I wanted to let you know about a few changes we’re making to keep it current with UK energy regulation and supply costs. You don’t need to do anything: we’ll move you straight onto the new version of the tariff on Thursday 15th February. We’ve broken down the changes to Agile, and what they mean for you, below. Agile is moving from ‘evergreen’ to ‘fixed term’ What does it mean for you? • Your unit prices still change every half an hour but your tariff terms, including your unit price formula and standing charge, will be fixed for 12 months. • At the end of your fixed term, we’ll email you with all your options – you’ll be able to renew on the latest version of Agile, choose another tariff or roll onto Flexible Octopus. • You can leave Agile at any time without fees by changing tariffs in your account. • We've updated Agile's T&Cs to reflect these changes -review the new terms at https://octo.ps/smart-terms-and-conditions The Energy Price Cap is a welcome protection for default tariffs, historically saving UK customers billions. It applies to all variable tariffs, but doesn’t work well with innovative, dynamically-priced ones. We’re talking to Ofgem to hopefully change this, but under current rules, neither Tracker or Agile can be variable tariffs without significant changes. Love and power, Pete Miller Head of Customer Experience

Nothing really about changed formula, just that it could change anytime now.. but we will be notified in advance and from 15th Feb it definitely won't change for 12 months. So changes are: a) standing charge up b) moving from variable to fixed, but you can still leave anytime - so no really a change

Spies

Edit: getting confused between Tracker and Agile topics, ignore my previous comment

Agile formula is remaining the same, just the SC is going up

MeteredOut

Netexporter said:

(Version D)

2.3.1 Prices for the Agile Octopus tariff are calculated based on a formula related to wholesale costs, and are usually published between 16:00-22:00 (normally, but not always, nearer 16:00), for the following day, with a different price for every 30 minutes of every day.

2.3.2.1 For customers who signed up or renewed before 11 December 2023: Agile Octopus is a Variable Rate Tariff, and your daily standing charge and the unit rate pricing formula is variable and subject to change. We will give you reasonable notice of any changes.

2.3.2.2 For customers who signed up or renewed after 11 December 2023: Agile Octopus is a Variable Rate Tariff with a fixed term. This means whilst your unit rate varies daily throughout the day, your daily standing charge and the unit rate pricing formula are fixed for the duration of your tariff term.

2.3.3 Prices can rise as well as fall, though the unit rate is capped at the amount specified at the time of switching. We will give you reasonable notice of any changes to the cap.

2.3.4 The variable nature of Agile Octopus means any prediction of future costs will be inaccurate and historical data will not predict future performance. Agile Octopus is a smart import tariff that allows you to unlock the cheaper and greener benefits of using energy according to wholesale costs. Sometimes peaks may be higher, sometimes lower. You will always be able to switch to one of our fairly priced standard tariffs at any time.

2.3.5 If upon signing up or renewing, you are put on an older version of the tariff than the one valid on the day of your signup or renewal (whichever is later), we reserve the right to amend your agreement to the correct version of the tariff which was live at the time of your sign up or renewal (whichever is later). We will not be liable for any financial losses resulting from this issue.

No reference to any specific change of formula in there.