Energy Prices - are they taking the piss???



Hot Since 82 said:
Anyone on Octopus know if it is still possible to get on the Tracker Tariff, i.e. the tariff which charges you something akin (just above) the daily wholesale prices?
Click to expand...
I moved across to it end of last year. From memory it wasn't a tariff you could just select to swap to on the app/site. You have to go through some other menu options and answer questions on it etc. Think I'd just missed the version of the Tracker with better rates but pretty sure I've saved a load compared to the Flexible tariff I was on. The benefits of having a smart meter being able to sign up to this. When you think about it everyone should be on it but people have become accustomed to this guaranteed rate which is ultimately inflated to protect the provider anyway.
 
Shack said:
I moved across to it end of last year. From memory it wasn't a tariff you could just select to swap to on the app/site. You have to go through some other menu options and answer questions on it etc. Think I'd just missed the version of the Tracker with better rates but pretty sure I've saved a load compared to the Flexible tariff I was on. The benefits of having a smart meter being able to sign up to this. When you think about it everyone should be on it but people have become accustomed to this guaranteed rate which is ultimately inflated to protect the provider anyway.
Click to expand...
Cheers mate. Yes I looked at the full year 2023 analysis of the Octopus Tariff average daily prices. Gas £0.05 and electricity £0.19. We used 19,500 kwh of gas in that period and around 2,700 kwh of electric. We are with Ovo and just on the variable tariff. The saving would have been around £700.

Have just organised a withdrawal of most of the credit balance from Ovo and will switch to Octopus after that. We have the latest Gen 2 Smart Meter from Ovo so the move should be easy. Once established at Octopus I will email them about getting onto the Tracker (if it's nit obvious how to do so). I've seen the t's and c's and note a capped price of £1 kwh electric and £0.30p gas, no penalty for leaving the Tracker if you do but then you can't go back on it for 9 months. Advertised as up to two weeks to be moved off if you request, but expert bods on you tube reckon it usually takes a couple of days. Medium term outlook for circa 24 months is prices staying where they are / further reductions.

There were no days with high prices during 2023, the peaks appear to only equal the variable prices of around 29p Elec and 0.0725 gas.
 
Hot Since 82 said:
Anyone on Octopus know if it is still possible to get on the Tracker Tariff, i.e. the tariff which charges you something akin (just above) the daily wholesale prices?
Click to expand...
You might have seen this site but amazing the current daily difference between the Flexible and Tracker rates. Even when you look at it over a longer time period, in the last year the Tracker has been well under for 95% of the time.

scrimpr.co.uk

Octopus Energy Tracker Comparison

Compare the price of gas and electricity on the Octopus Energy Tracker and Flexible Tariffs.
scrimpr.co.uk scrimpr.co.uk
 
Shack said:
You might have seen this site but amazing the current daily difference between the Flexible and Tracker rates. Even when you look at it over a longer time period, in the last year the Tracker has been well under for 95% of the time.

scrimpr.co.uk

Octopus Energy Tracker Comparison

Compare the price of gas and electricity on the Octopus Energy Tracker and Flexible Tariffs.
scrimpr.co.uk scrimpr.co.uk
Click to expand...
Just bookmarked that
 
Hot Since 82 said:
Cheers mate. Yes I looked at the full year 2023 analysis of the Octopus Tariff average daily prices. Gas £0.05 and electricity £0.19. We used 19,500 kwh of gas in that period and around 2,700 kwh of electric. We are with Ovo and just on the variable tariff. The saving would have been around £700.

Have just organised a withdrawal of most of the credit balance from Ovo and will switch to Octopus after that. We have the latest Gen 2 Smart Meter from Ovo so the move should be easy. Once established at Octopus I will email them about getting onto the Tracker (if it's nit obvious how to do so). I've seen the t's and c's and note a capped price of £1 kwh electric and £0.30p gas, no penalty for leaving the Tracker if you do but then you can't go back on it for 9 months. Advertised as up to two weeks to be moved off if you request, but expert bods on you tube reckon it usually takes a couple of days. Medium term outlook for circa 24 months is prices staying where they are / further reductions.

There were no days with high prices during 2023, the peaks appear to only equal the variable prices of around 29p Elec and 0.0725 gas.
Click to expand...
Checking on Octopus it's estimating £1200 per year compared to a 12 month fixed Flexible tariff of £1800. It just seems daft to be on anything else when you can move to another tariff should the market conditions change.
 
Crook Mackem said:
Lad at works house is a brand new 3 bed down boro somewhere. He obviously has the benefit of the smog and radiation keeping the atmosphere warm but whatever they build nowadays must proper retain the heat. He says his barely drops below 18, puts the heating on every couple of days
Click to expand...
Aye, that's true. Unless the window vents are open, the heat just seems to stay in new builds.

It's still on every day though, just not for long, unless it's freezing.
 
Shack said:
Checking on Octopus it's estimating £1200 per year compared to a 12 month fixed Flexible tariff of £1800. It just seems daft to be on anything else when you can move to another tariff should the market conditions change.
Click to expand...
if you go back to 2022 the tracker was 55p and the cap was 34, but it looks now its a better option. if it shoots up like it did thanks to putin thats when you are stuffed.
 
Last edited:
Squat said:
if you go back to 2022 the tracker was 55p and the cap was 34, but it looks now its a better option. if it shoots up like it did thanks to putin thats when you are stuffed.
Click to expand...
Yes, and when such an extreme situation happens again that looks like going on for several months, I'll bail out and go on a fixed price/capped product again. Surely we all went up paying at least an average of the wholesale price anyway. It's just wrapped up in this guaranteed steady rate instead of the peaks and troughs of following the market.
 
yamar1 said:
Tell them to do one, are you in debt?
Click to expand...

I'm £37 in debit after latest bill on 27th Feb wiped out the credit that I did have, but that's expected coming out of winter and this is where I'd now start building it back up again ready for next winter. March so far I'm up to £161 spent with 4 days of the month left, so let's say that hits £175, that's at today's prices and it'll be cheaper from 1st April as well as the heating being on less / not at all very soon so the original 148 payment would have started building credit back up from next month anyway.

227 seems to be a figure plucked out of thin air from them. I'll ring them when I get chance.
 
Last edited:
gazza.1990 said:
I'm £37 in debit after latest bill wiped out the credit that I did have, but that's expected coming out of winter and this is where I'd now start building it back up again ready for next winter. March so far I'm up to £161 spent with 4 days of the month left, so let's say that hits £175, that's at today's prices and it'll be cheaper from 1st April as well as the heating being on less / not at all very soon.

227 seems to be a figure plucked out of thin air from them. I'll ring them when I get chance.
Click to expand...
In that case, tell them to get fucked :)
 

Back
Top