Octopus Energy Tracker tariff

Has anyone else tried looked at this tariff. Apparently the rates are still lower than other standard tariffs even now with colder weather. I’ve joined a Facebook group called Octopus Energy Tracker tariff chat and it seems people are saving lots of money. 

Just wanted to check whether anyone on here had given it a go. Thinking of taking the plunge…

Comments

  • la531983
    la531983 Posts: 1,648
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    You could trawl through the near 3600 posts in the Octopus tracker thread.... 

    https://forums.moneysavingexpert.com/discussion/6261575/octopus-tracker#latest
  • Netexporter
    Netexporter Posts: 1,032
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    edited 12 November 2023 at 5:34PM
    Has anyone else tried looked at this tariff. Apparently the rates are still lower than other standard tariffs even now with colder weather. I’ve joined a Facebook group called Octopus Energy Tracker tariff chat and it seems people are saving lots of money. 

    Just wanted to check whether anyone on here had given it a go. Thinking of taking the plunge…
    Agile can be even cheaper, if you can minimise your consumption between 16:00 and 19:00. Sometimes you get paid to consume. Tracker is, essentially, a smoothed out version of Agile.
  • To be fair that is a massively long read with much of the early discussion and info outdated now.  A lot of the more recent discussion is about market volatility and long term trends so probably useful, albeit a *really* long slog.

    But in short, yes there are several of us on it and enjoying the savings very nicely!
  • We have been on the Tracker since July 2023 and on average we have saved approximately £40 per month (saving of £238 from July to Dec 10th) compared to the price cap of Elec at 27.39p and Gas at 6.89p (including VAT). 
    Unit cost per month on the Tracker per kWh for Gas & Elec were:
    July, Elec 16.5p, Gas 4p. 
    Aug Elec 18.2p, Gas 4.3p. 
    Sept Elec 18.3p, Gas 4.7p. 
    Oct Elec 18.5p, Gas 5.5p. 
    Nov Elec 20p, Gas 5.5p. 
    To Dec !0th, Elec 22.3p, Gas 5.5p

    With LNG supplies being abundant and the temperatures at seasonal average or higher through to January, gas storage at record levels in EU and UK expectation is next day pricing should stay at or below where it is unless something unexpected happens. Is tracker worth it? Yes if you can live with prices fluctuating. To lose out on tracker so far our costs would have to increase by approximately £40 per month (above the price cap) which is now unlikely as we are into December. Pricing should reduce by March 2024 to around  Elec 16p and Gas 4p. A caveat as always is, unless something unexpected happens in the market.
  • Saved me a lot 
    Was on standard variable 10p gas electricity 32p. Joined Tracker in Jan 23, on 6p gas, 22p electricity, lower 95 % of the time since then. 

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