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Energy Supplier

13

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  • Huskaris
    Huskaris Posts: 9,848
    edited June 2024
    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!



    https://www.octopriceuk.app/tracker
  • BalladMan
    BalladMan Posts: 1,113
    edited June 2024
    HiHuskaris said:
    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!



    https://www.octopriceuk.app/tracker
    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. 

  • Covered End
    Covered End Posts: 51,995
    I check the price daily, only takes 30 seconds.
  • shirty5
    shirty5 Posts: 19,222
    Derek1952 said:
    Thinking of changing Energy to British Gas.My present Supplier wants to charge me £179 a month for a 1 bed flat.Any advice on B.G
    https://www.bbc.co.uk/news/articles/cnee9e22klno
  • Fanny Fanackapan
    Fanny Fanackapan Posts: 18,737
    shirty5 said:
    Derek1952 said:
    Thinking of changing Energy to British Gas.My present Supplier wants to charge me £179 a month for a 1 bed flat.Any advice on B.G
    https://www.bbc.co.uk/news/articles/cnee9e22klno
    And some of you wonder why some of the rest of us don't want a smart meter ! 
  • Bedsaddick
    Bedsaddick Posts: 24,736
    . Nobody has used my link yet  :'(

     https://share.octopus.energy/ocean-liger-606
  • DaveMehmet
    DaveMehmet Posts: 21,599
    Bedsaddick said:
    Out of curiosity can people post what they pay per month and what size property they live in. It will be interesting to compare. 
    £165pm gas & electric with EDF for a 4 bed semi, 2 adults (well 1 plus me) and 1 teenager.
  • Boom
    Boom Posts: 1,679
    Looks like I’m being stiffed! £407 a month but was playing catch up for a while. Now 600 in credit. 
  • charlton4ever
    charlton4ever Posts: 1,716
    edited June 2024
    3 Bed Semi, 2 adults, 2 cats, £130pm gas and electric. Retired so home a lot more than when we were both out working.
  • R0TW
    R0TW Posts: 1,673
    edited June 2024
    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
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  • charlton4ever
    charlton4ever Posts: 1,716
    R0TW said:
    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 !
  • DaveMehmet
    DaveMehmet Posts: 21,599
    R0TW said:
    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)
  • LonelyNorthernAddick
    LonelyNorthernAddick Posts: 2,423
    charlton4ever said:
    R0TW said:
    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
  • charlton4ever
    charlton4ever Posts: 1,716
    LonelyNorthernAddick said:
    charlton4ever said:
    R0TW said:
    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?
  • Nug
    Nug Posts: 4,623
    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.
  • Rob7Lee
    Rob7Lee Posts: 9,595
    Finally had smart meters fitted yesterday so can soon swap to the Octopus wholesale tracker - watch the prices rocket now!  :D
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Rob7Lee said:
    Finally had smart meters fitted yesterday so can soon swap to the Octopus wholesale tracker - watch the prices rocket now!  :D
    Let us know how this works out please Rob
     
  • Rob7Lee
    Rob7Lee Posts: 9,595
    ShootersHillGuru said:
    Rob7Lee said:
    Finally had smart meters fitted yesterday so can soon swap to the Octopus wholesale tracker - watch the prices rocket now!  :D
    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.
  • Covered End
    Covered End Posts: 51,995

  • Covered End
    Covered End Posts: 51,995

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  • Covered End
    Covered End Posts: 51,995

  • Rob7Lee
    Rob7Lee Posts: 9,595
    You are on an older tracker (Dec 2023) they seem to update it on a fairly regular basis and increase the cost.

    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.

  • Siv_in_Norfolk
    Siv_in_Norfolk Posts: 4,057
    Nug said:
    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 
  • Rob7Lee
    Rob7Lee Posts: 9,595
    Siv_in_Norfolk said:
    Nug said:
    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. 
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    So tracker good or bad ?
  • Rob7Lee
    Rob7Lee Posts: 9,595
    ShootersHillGuru said:
    So tracker good or bad ?
    Gas will be a saving on current tracking prices, electricity marginal but still a small saving as it stands but won't take much to flip that.
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Rob7Lee said:
    ShootersHillGuru said:
    So tracker good or bad ?
    Gas will be a saving on current tracking prices, electricity marginal but still a small saving as it stands but won't take much to flip that.
    Keep us updated though please Rob 👍
  • Rob7Lee
    Rob7Lee Posts: 9,595
    Well I've made the switch so will report back in a few weeks how it's gone!
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Rob7Lee said:
    Well I've made the switch so will report back in a few weeks how it's gone!
    Transgender issues are nothing to worry about these days.
  • BalladMan
    BalladMan Posts: 1,113
    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.  

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