My mum 85 low user is looking for a new energy deal for gas and electric Was on a fixed price deal

FreeBear

Even if the price cap comes down by the forecast 16% in April, and another 8-10% later in the year, there should still be savings to be had on tracker. Play the long game, and any upward spikes will be offset by the plunges on other days. Whilst the price differential may well reduce, even a 5-10% saving is worth having.

Spoonie_Turtle

Perplexing that people have mentioned Tracker but not that the formula has changed - so new customers, and all customers from next Thursday, will have unit rates a few p higher than they have been historically on Tracker.  Which is easy enough mentally to add on to the historic data, but only if you know to do it.  Mentioning historic data without that caveat only gives someone half the picture.

For context, I think it's a fantastic tariff and I truly wish everyone knew about it to be able to make an informed decision, but it's not for everyone, for various individual reasons.  It's also the polar opposite of the mentality of fixing for price certainty.

For most people engaged with their energy usage and able to keep an eye on the price without it causing stress, yes it should be worth it.  

MarzipanCrumble

Just logged on to Octopus to move to tracker - just hope my SM2 keep communicating!

t0rt0ise

Spoonie_Turtle said:

Perplexing that people have mentioned Tracker but not that the formula has changed - so new customers, and all customers from next Thursday, will have unit rates a few p higher than they have been historically on Tracker.  Which is easy enough mentally to add on to the historic data, but only if you know to do it.  Mentioning historic data without that caveat only gives someone half the picture.

For context, I think it's a fantastic tariff and I truly wish everyone knew about it to be able to make an informed decision, but it's not for everyone, for various individual reasons.  It's also the polar opposite of the mentality of fixing for price certainty.

For most people engaged with their energy usage and able to keep an eye on the price without it causing stress, yes it should be worth it.  

It's because it's become popular that the price has gone up. When everybody knows about it the price will go so high it probably won't be worth it. The company has to make a profit.

QrizB

t0rt0ise said:

It's because it's become popular that the price has gone up. When everybody knows about it the price will go so high it probably won't be worth it. The company has to make a profit.

I don't follow that logic at all.

Tracker's cheap because it's not hedged and it's not really capped, so Octopus don't have to buy energy in advance to guarantee price stability.

If everyone chose Tracker it still wouldn't be hedged or capped.

t0rt0ise

QrizB said:

t0rt0ise said:

It's because it's become popular that the price has gone up. When everybody knows about it the price will go so high it probably won't be worth it. The company has to make a profit.

I don't follow that logic at all.

Tracker's cheap because it's not hedged and it's not really capped, so Octopus don't have to buy energy in advance to guarantee price stability.

If everyone chose Tracker it still wouldn't be hedged or capped.

They've always said they made a loss on it. Too many people, too much loss so they've upped the price. I'm guessing they still won't make a huge profit but you may be right and if they do, they could do it for everyone.

bristolleedsfan

QrizB said:

t0rt0ise said:

It's because it's become popular that the price has gone up. When everybody knows about it the price will go so high it probably won't be worth it. The company has to make a profit.

I don't follow that logic at all.

Tracker's cheap because it's not hedged and it's not really capped, so Octopus don't have to buy energy in advance to guarantee price stability.

If everyone chose Tracker it still wouldn't be hedged or capped.

I think it is obvious to most people changes being made from 15th February both standing charge and unit rate increase is a price increase. When Tracker/Agile was  niche tariff hardly anyone knew about it Octopus were happy for SC to be lower than standard tariffs being as unit rate could go higher.

Agile formula/unit rate is not increasing at least in part due to approx 100000  being on tracker tariff as opposed to 10s of 1000s being on agile tariff. 

Possibility that if tracker continues after April to be a certain % cheaper than standard tariffs Octopus will launch a more expensive version that will only apply to new switches and renewals

macman

An 85 year old is likely on a fixed income and so Tracker may not be suitable. Is she risk-averse, able to monitor for potential price spikes and to cut and run if necessary? No one has even asked if she has smart meters, without which it is a non-starter.
Tracker is a great option for many households, including my own, but there are plenty of people to whom I would not recommend it.
Even if SVT falls 16% in April and then maybe 4% again in July, Tracker should still be at least 20% lower on a dual fuel supply, even with the imminent increase on 15/2.

ArbitraryRandom

macman said:

 No one has even asked if she has smart meters, without which it is a non-starter.

If the OP is asking for the 'cheapest' fixes, having a smart meter or at least being willing to have one is basically a requirement at this point... 

bristolleedsfan

ArbitraryRandom said:

macman said:

 No one has even asked if she has smart meters, without which it is a non-starter.

If the OP is asking for the 'cheapest' fixes, having a smart meter or at least being willing to have one is basically a requirement at this point... 

There is no requirement to have or be willing to have a smart meter for Octopus standard/loyal 12 month fixed tariffs.

No positive reason why any Octopus customers should now be on flexible tariff.