Should I switch from octopus tracker duel fuel?

donglefan

World events have made me wonder if I should switch to a fixed price deal and I'd value advice from the knowledgeable people here.
My current tarrifs are:

Electricity:

Octopus Tracker December 2024 v1

Ending 15/02/2026

18.47p/kWh55.79p/day

Gas: Octopus Tracker December 2024 v1

Ending 15/02/2026

5.44p/kWh29.34p/day

I don't have an EV, I use an electric cooker.  I use gas to heat water but hardly ever use it to heat the house now as I have reverted to using coal in a stove for economy.

On the Tracker Octopus advises estimated annual cost £791.18 a year for electricity £525.55 a year for gas 

lohr500

I would say put your actual usage numbers into one of the comparison sites, or the MSE Energy Club site and see what fixed deals are available.

My gut feel is that gas and oil prices will rise further in the next few days and weeks due to the escalation in world events.

I ordered 800 litres of heating oil on the 15th June and between then and now, the cost has already increased by 23%. It has saved me close to £100.

If I wasn't on a really cheap fixed electricity deal until the end of November, I think I would be looking to lock in a new 12 month fix now.

But it all comes down to an individual's view on risk and having certainty of costs over a period of time.

Archiedextrous56

donglefan said:

World events have made me wonder if I should switch to a fixed price deal and I'd value advice from the knowledgeable people here.
My current tarrifs are:

Electricity:

Octopus Tracker December 2024 v1

Ending 15/02/2026

18.47p/kWh55.79p/day

Gas: Octopus Tracker December 2024 v1

Ending 15/02/2026

5.44p/kWh29.34p/day

I don't have an EV, I use an electric cooker.  I use gas to heat water but hardly ever use it to heat the house now as I have reverted to using coal in a stove for economy.

On the Tracker Octopus advises estimated annual cost £791.18 a year for electricity £525.55 a year for gas 

Worth remembering that your Octopus tracker rate will fluctuate based on daily wholesale price and the average of that monthly rate will determine your price per k/w. I was on the Octopus Tracker and regret changing to a fixed tariff with another provider. The Tracker rate was always lower than any fix or variable rate. I guess it depends on your individual circumstances and attitude to risk, but as I say from personal experience it always worked out cheaper. Good luck with whatever you decide.

debitcardmayhem

Look at https://octotrak.com/
eg Dec24 Eastern elec 6 months 


I am on gas only and that is better for me than the fix I was on at 5.74p

QrizB

donglefan said:

World events have made me wonder if I should switch to a fixed price deal and I'd value advice from the knowledgeable people here.

Tracker is for people who know that, on average and over a period of several years, it's likely to work out cheaper than the SVT (and also likely to be cheaper than the best fixes) - but who also can afford to pay higher tariffs for the short term (eg. until they can switch to something cheaper if we get another 2022).

Fixed tariff are for people who want certainty that, for the next 12/24/36/etc months, their prices won't change but might not be the cheapest.

Decide which of those two types of people you are, and act accordingly.