For Octopus customers

[DaveW]

Not strictly a Tesla related post, but considering lots of us are with Octopus because of Go / Intelligent etc…thought it might be useful.

They’ve enabled a gas tracker tariff again, which gets you under the price cap, as long as wholesale prices remain lower of course. If things get worse again, you can change back instantly.

You can do it over email, but they are inundated because it’s been on Hotukdeals, when I called today around 4pm, got through in a few minutes and changed it there and then.

Doing this has taken my gas unit price from just over 10p to 6.91p. The average seems to be between 6-7p.

 

[SR-Plus]

Yep I did the change via twitter. They had me switched across on the same day. Very impressed.

 

[Simon Watts]

which is the best site to use to keep track of the wholesale price? Or does Octopus keep you updated?

 

[cramsnik]

Just a quick Google search finds - Octopus Energy latest Tracker prices

 

[speedyranger74]

Yep I did the change via twitter. They had me switched across on the same day. Very impressed.

hi. if I may ask you, how is called the tariff? thanks

 

[DaveW]

hi. if I may ask you, how is called the tariff? thanks

It’s just called Octopus Tracker - make sure you tell them you only want to change gas (unless you want to change electric too).

 

[Cloggie]

@DaveW , thanks so much for the tip! That will save me a few quid

 

[Pandinium]

Funny enough I had my email that my Intelligence Octopus is coming to an end soon, the new price isn’t that great 25% increase on both evening and peak kwh - but the flexible one is actually the same rate as I pay now… 33 peak 10p off peak… or IO 43p peak and 10 off peak

 

[Tes1aFanBoy]

I’m confused is flexible the same as tracker? The unit rates quoted look higher?

 

[Pandinium]

Your current Intelligent Octopus prices
Peak unit rate: 31.42p / kWh
Off-peak unit rate: 7.50p / kWh
Standing charge: 25.66p / day

Your new Intelligent Octopus prices
Peak unit rate: 42.90p / kWh
Off-peak unit rate: 10.00p / kWh
Standing charge: 51.09p / day

Flexible Octopus prices
Unit rate: 33.70p / kWh
Standing charge: 51.00p / day

Tracker was showing at the moment around 27p I think so looks cheaper but can change to 40p… flexible based off my consumption is cheaper out of the offered one, but tracker could be better if prices stay down…

 

[SteveJol]

but the flexible one is actually the same rate as I pay now… 33 peak 10p off peak…

Flexible doesn't have an off peak rate?

 

[Pandinium]

I’m on the old IO rate - just need to see but that tracker looks cheaper than anything offered

 

[page3]

So if I understand it correctly, the tracker rate is a monthly average of all the daily rates for that month so one could be caught out by high fluctuating rates. Historically though it does appear to be cheaper, at least for gas which is what I’m thinking of changing to.

Decisions, decisions.

 

[phil4]

The tracker isn't an average. Each day, they take the wholesale price for that day, apply a formula that adds admin, profit, network costs... and that's the price you pay for your use on that day. Tomorrow it's all done again. So every day is a different price.

Today it could be 7p, tomorrow 6, the day after 30p. You need to work out when it's saving you, and when it's not, and when you fold and move.

Or put another way, it's like Agile, but instead of half hourly slots, they're daily slots.

Flexible on the other hand is a fixed price until they decide to change it, which isn't very often (ie. 3-6 months).

 

[Jason71]

just so long as you read the not so small print and are happy to monitor it / take the risk

 

[chwe]

The tracker isn't an average. Each day, they take the wholesale price for that day, apply a formula that adds admin, profit, network costs... and that's the price you pay for your use on that day. Tomorrow it's all done again. So every day is a different price.

Today it could be 7p, tomorrow 6, the day after 30p. You need to work out when it's saving you, and when it's not, and when you fold and move.

Or put another way, it's like Agile, but instead of half hourly slots, they're daily slots.

Flexible on the other hand is a fixed price until they decide to change it, which isn't very often (ie. 3-6 months).

Having just started the process of switching via twitter I was told this actually:

"Something to bear in mind as well is that you get charged for the monthly average of all the daily readings, not on a day-to-day basis."

 

[Jason71]

Just a quick Google search finds - Octopus Energy latest Tracker prices

I can see on that todays price. so is that as far in advance a "warning" you get one day? when do you find out what tomorrows price is?

 

[phil4]

Having just started the process of switching via twitter I was told this actually:

"Something to bear in mind as well is that you get charged for the monthly average of all the daily readings, not on a day-to-day basis."

I think whoever told you that hasn't a clue what they're talking about. That or you don't have a smart meter.

Otherwise what's the point in saying "Every day, we update the price of your energy based on an independently published wholesale market price" the very second thing on the Octopus Tracker page?

 

[cramsnik]

Tomorrow I guess.

Screenshot of my current Gas rates- before switching to tracker the cost was 10.00p/kWh as you ca see it's currently 6.52p/kWh

 

[Jason71]

I think whoever told you that hasn't a clue what they're talking about. That or you don't have a smart meter.

Otherwise what's the point in saying "Every day, we update the price of your energy based on an independently published wholesale market price" the very second thing on the Octopus Tracker page?

you do have to submit monthly readings if you don't have a smart meter so presumably that is the non smart meter method.
the web site says
"This tariff is best suited to customers who can shift large amounts of their energy use to avoid these expensive peaks."
which would make no sense for a monthly average