Octopus tracker tariff?

[NewBootsAndRanty]

octopus.energy/smart/tracker/

Anybody else signed up to this?

I've just transferred over, and my rates are currently 6.5p/kwh for gas and 26.45p/kwh for electric, the standing charge is the same as my previous SVR.

I'm going to see how it goes for a few weeks, but at the moment it looks like it will work out a fair bit cheaper...

I’m just about to but if I’m honest, I’m a bit scared! I only saw it by chance and I know I won’t watch the rates religiously (where do you even do that?) so not sure if it’s a good idea or not. I guess going into spring is a better time than any to try it out.

I'm looking into this. Someone on here posted a really in depth thread on it the other day with links to how to download an app to keep an eye on the wholesale price. When I came back to it later, the thread had been deleted saying it didn't follow talk guidelines?? Anyone know why it was pulled?

www.mumsnet.com/talk/cost_of_living/4736696-energy-prices-set-to-rise-another-40-percent?page=2

There's some good info on this thread. Don't know why any have been pulled.

Rates update on your octopus account under your tariff info at midnight, and you can see daily previous prices online too via the tracker section @FurFan

Oh ok, thanks for that. So it’s just a matter of checking the app. The possibility of a 100p max rate is a bit scary for me. Would we see that coming?
I’ve just moved over from bulb and there’s no smart meter info on there yet, they say they’re working on it as a matter of urgency though.

On the thread i linked there's info about what happens if it goes above the SVR.

It doesn't need a smart meter either.

I’ve been on Tracker for gas since last April - was fortunate enough to switch when it was capped at 6p. I helped my mum move to Tracker for both gas and electricity 10 days ago, and she is saving loads.

You can see recent prices here: mysmartenergy.uk/Tracker/South-West-England You need to choose your region from the Tracker Prices drop down at the top of the page.

If the Tracker price rises to meet the Flexible price, it will then start to benefit from the EPG subsidy, up to the maximum available. So the Tracker price would flatline at the Flexible price, until and unless wholesale prices go up a LOT!

If that happens, just switch back to Flexible.

Awesome, I’ve saved that link on my homepage. My peri-brain would not let me understand the how to shortcut links in the other thread 🤦‍♀️

You need to follow video 1 - This adds the shortcut to the homepage of your iPhone. You click and it'll show you that day's rates.

Then video 2 - Allows you to automate it so that you get notifications every day of the rate appearing by push notification on the home screen of your iPhone or iPad.

If you are really techie there's more you can do with shortcuts like turn heating off if you have smart vales if prices go too high or send a notification and create a spreadsheet saved on your laptop etc so you can review month's prices etc.

I just use the push notification that's enough for me it pops up the rates once a day.

It is a very good idea! You just need to keep an eye on it a few times a week but you will be saving around 20-30% this week based on rates now.

They will go up before they come down on SV so why pay more, if you wanna switch back to a standard tariff just call or email and they'll do it right away.

Yes, spot on.

This guidance on the energy price guarantee and beyond was published this month and is from the House of Commons library. It isn't a heavy read and it's good.

I hadn't realised that having smart meters mean that each day's actual usage gets charged at that day's rate - I'd mistakenly thought it all got averaged out over each billing period.

Today's electric price is 21.99p/kWh - ALL THE LAUNDRY is getting done and dried this afternoon.

Each day’s actual usage is used as long as all the 30-minute data is there. If any is missing in the billing period - even a single 30-minute reading - they use an industry formula to allocate it across the period.

That’s also what they do for people without smart meters.

My gas meter regularly misses the 23.30 reading, so my usage on Tracker has always been spread according to the formula. Fortunately my electric meter never misses a beat - I’m on an EV tariff, and if they do t have all the data for that, they bill you on Flexible.

Comparison between costs for a week on the SVR and a week on tracker ( the electric for 14 Jan and gas for 7 Jan is SVR, v identical use in kwh on the 21 Feb for tracker).

I've health conditions meaning I can't skimp on heating/need a min overnight and daytime temp of 18 and 21°, and was getting a bit worried about managing heating bills for the rest of this winter - far far less worried now.