Just switched to the tracker on Octopus now I'm signed up. Appears to currently be around 20% cheaper than the price cap. If you look at the chart I'm posting, you can see that the price cap has been always above the rates of other tracker over the past few months. Going back, all I can see is about 2 days where electricity matched the price cap in December. Looks like a great product and thank you everyone on here for shouting about it, that should save me about £40 a month! It does require one of those devilish smart meters if you are a luddite though!
Just switched to the tracker on Octopus now I'm signed up. Appears to currently be around 20% cheaper than the price cap. If you look at the chart I'm posting, you can see that the price cap has been always above the rates of other tracker over the past few months. Going back, all I can see is about 2 days where electricity matched the price cap in December. Looks like a great product and thank you everyone on here for shouting about it, that should save me about £40 a month! It does require one of those devilish smart meters if you are a luddite though!
Tracker has been incredible for me over the last 18 months. It was a bit of a gamble (price can spike up to 100p per KWh) but it has never gone more than 60p, for 1 day out of 547.
The following is the average price for the last 365 days for gas and electric on the tracker for those interested.
as discussed in other threads, octopus realised they were losing money on the tracker and therefore changed the algo in Jan this year which means the price is about 10-15% higher than before.
One thing to watch out for. Wholesale price has been coming down over the last 18 months and at some point will correct back up again. Keep an eye on it and switch to standard when the saving is no longer there.
This website is great for tracking daily and historic prices.
Cats do a lot of washing, cooking and keep turning up the room stats? Got one myself. Constantly using the tumble drier and under the electric shower. Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven. Bit of a piss taker if the truth be known
Cats do a lot of washing, cooking and keep turning up the room stats? Got one myself. Constantly using the tumble drier and under the electric shower. Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven. Bit of a piss taker if the truth be known
Was tongue in cheek, but in Winter if we are away for the day my Wife will leave the heating on full blast all day to keep the little furry ones warm !
Cats do a lot of washing, cooking and keep turning up the room stats? Got one myself. Constantly using the tumble drier and under the electric shower. Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven. Bit of a piss taker if the truth be known
Mine just licks his arse and nob all day (lucky bastard)
Cats do a lot of washing, cooking and keep turning up the room stats? Got one myself. Constantly using the tumble drier and under the electric shower. Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven. Bit of a piss taker if the truth be known
Was tongue in cheek, but in Winter if we are away for the day my Wife will leave the heating on full blast all day to keep the little furry ones warm !
You're joking hahaha, theyre literally wrapped in a fur coat 24/7
Cats do a lot of washing, cooking and keep turning up the room stats? Got one myself. Constantly using the tumble drier and under the electric shower. Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven. Bit of a piss taker if the truth be known
Was tongue in cheek, but in Winter if we are away for the day my Wife will leave the heating on full blast all day to keep the little furry ones warm !
You're joking hahaha, theyre literally wrapped in a fur coat 24/7
I say exactly that - could you write my Wife a note please?
I got an email from Octopus yesterday saying I am £1000 in credit. Been paying £180 a month for a 4 bed terraced house. Used there forecast tool now reduced to £88. Personally I would prefer to just pay what I owe each month but I’m not sure that’s even possible these days.
Finally had smart meters fitted yesterday so can soon swap to the Octopus wholesale tracker - watch the prices rocket now!
Let us know how this works out please Rob
At the moment it doesn't look fantastic. The current price cap rates are:
5.82p Gas 22.41p Electric
The past 30 says the tracker rates for gas has always been a bit below (I guess no surprise being summer). The electricity however has on occasions gone above that, but overall think it'd still be a small saving. The electricity standing charge is also higher on the tracker by about 2p.
You can see they have a pre 3rd April, 30th April to 30th June and 1st July onwards.
The current formula is:
Electricity unit charge: (W * 1.2389) + 11.9791 p per kWh
Gas unit charge: (W * 0.03604) + 2.0508 p per kWh
The pre April is:
Electricity unit charge: (W * 1.1913) + 10.5046 p per kWh
Gas unit charge: (W * 0.03604) + 1.5674 p per kWh
So Electric is now around 2p more expensive than you are paying, Gas around 0.5p. The standing charge is 27.47p Gas and 38.72p electric, so the electric is over 2p a day more than you have.
You can see around 7 days were above the price cap of 22.41p, add the higher standing charge and it's marginal at best, for electric.
I got an email from Octopus yesterday saying I am £1000 in credit. Been paying £180 a month for a 4 bed terraced house. Used there forecast tool now reduced to £88. Personally I would prefer to just pay what I owe each month but I’m not sure that’s even possible these days.
I got an email from Octopus yesterday saying I am £1000 in credit. Been paying £180 a month for a 4 bed terraced house. Used there forecast tool now reduced to £88. Personally I would prefer to just pay what I owe each month but I’m not sure that’s even possible these days.
Ecotricity do it
They also charges rates above the price cap for the privilege.
I have been on the Octopus tracker since Jan '23. It feels like we are heading towards the end of the saving period for this specific tariff (as outlined by the excellent analysis by Rob7Lee above) and the gains are marginal, if at all. If anyone identifies a tariff that which offers a similar risk / reward, please do post on here. FYI, Octopus are by far and away the best energy company I have worked with in relation to customer service.
Comments
https://www.octopriceuk.app/tracker
https://share.octopus.energy/ocean-liger-606
Got one myself. Constantly using the tumble drier and under the electric shower.
Then gets his mates around and spends the afternoon cooking up meals using the 4 hob burner and double oven.
Bit of a piss taker if the truth be known
5.82p Gas
22.41p Electric
The past 30 says the tracker rates for gas has always been a bit below (I guess no surprise being summer). The electricity however has on occasions gone above that, but overall think it'd still be a small saving. The electricity standing charge is also higher on the tracker by about 2p.
Todays rates on the current tracker are 22.26 & 5p
https://octopus.energy/tracker-faqs//#formula
You can see they have a pre 3rd April, 30th April to 30th June and 1st July onwards.
The current formula is:
Electricity unit charge: (W * 1.2389) + 11.9791 p per kWh
Gas unit charge: (W * 0.03604) + 2.0508 p per kWh
The pre April is:
Electricity unit charge: (W * 1.1913) + 10.5046 p per kWh
Gas unit charge: (W * 0.03604) + 1.5674 p per kWh
So Electric is now around 2p more expensive than you are paying, Gas around 0.5p. The standing charge is 27.47p Gas and 38.72p electric, so the electric is over 2p a day more than you have.
You can see around 7 days were above the price cap of 22.41p, add the higher standing charge and it's marginal at best, for electric.