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Octopus Tracker Tariffs

 
Electricity, Tariffs, Monitoring & Providers
Last Post by KoRWraith 2 years ago
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KoRWraith
 KoRWraith
(@korwraith)
Estimable Member Member
Joined: 3 years ago
Posts: 61
Topic starter 13/02/2023 4:49 pm  

I recently became aware of Octopus Tracker Tariffs:

OCTOPUS.ENERGY "https://octopus.energy/smart/tracker/"
Octopus Tracker | Daily UK Wholesale Price Tracker | Octopus Energy
Octopus Tracker links your rates to wholesale energy prices in the UK. Track electricity and gas wholesale prices daily and pay less when the grid is greener.

 

These tariffs offer daily rates for gas/electricity that move with current market rates.

For the last month both gas and electricity have been significantly below the price cap:

Gas - price cap tariffs are around 10p/kWh

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Electricity - price cap tariffs are around 34p/kWh

bbbbb

To access these tariffs you first need to switch to Octopus Energy on their standard tariff, then phone/email them to have them put you on the Tracker tariffs. You can have both gas and electricity on the tracker, or just gas, or just electricity. In my situation, I'm only going on the tracker for gas as their off-peak Octopus Go tariff is a better fit for my electricity usage.

Then it's just a case of checking the daily rate and if it's below the price cap then happy days; if it rises above the price cap you can contact Octopus to have them immediately transfer you to the standard tariff without any penalty. Should the tracker tariff fall back in price you can then move back to it. 

Can't lose! The only catch is you need to have a smart meter that can report usage every 30 minutes; that's all SMETS2 smart meters and most but not all SMETS1. You can check if your SMETS1 meter is suitable by contacting Octopus.



   
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KoRWraith
 KoRWraith
(@korwraith)
Estimable Member Member
Joined: 3 years ago
Posts: 61
Topic starter 17/02/2023 2:18 pm  

Please note that due to a surge in people switching to this new (beta) tariff, Octopus have now restricted it to 50 people a day so if you've not already moved onto it you've possibly missed this particular boat.

As for me, I'm happily paying 5.9p/kWh for my gas today 🙂

WhatsApp Image 2023 02 17 at 13.19.28


   
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 Tim441
(@tim441)
Prominent Member Contributor
Joined: 3 years ago
Posts: 330
13/05/2023 12:16 pm  

latest Tracker price updates for Electricity tariff - Tracker Nov 2022 V1 (Southern England) :

Today : 18.14p/kWh
Tomorrow : 17.89p/kWh

still worth considering getting on the waiting list to switch to Tracker as likely to get on by next winter. 
There is no commitment and you can move off it on one day notice if prices surge or if you find a fixed rate you prefer


Listed Grade 2 building with large modern extension.
LG Therma V 16kw ASHP
Underfloor heating + Rads
8kw pv solar
3 x 8.2kw GivEnergy batteries
1 x GivEnergy Gen1 hybrid 5.0kw inverter
Manual changeover EPS
MG4 EV


   
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 Tim441
(@tim441)
Prominent Member Contributor
Joined: 3 years ago
Posts: 330
14/05/2023 10:50 am  

Octopus export - standard fixed tariff is 15p with a one year fix - which seems very attractive compared to wholesale import prices

latest import Tracker price updates for Electricity tariff - Tracker Nov 2022 V1 (Southern England) :
Today : 17.89p/kWh

Surely likely to see a drop in the fixed export price? Certainly no chance of it going up currently! The fixed export was increased from 7.5p to 15p last Sept when import rates were far, far higher and Agile Export also higher.

So may be worth considering locking it in now - its a one year fixed rate.

it should be noted that Octopus Agile Outgoing average prices in Sept last year was around 30p (with quite a big range of prices) when the Fixed rate was set at 15p.

Octopus Agile Outgoing average prices since start of 2023 started around 15p and have steadily fallen - current average is under 10p.

The chances must be high that the Fixed rate (currently 15p, fixed 1 year) will be cut in the not so distant future. I would suggest we could see that drop to somewhere between the previous 7.5p and 10p? Perhaps also impacting Flux export rates too?

Obviously no certainty over future prices but would simply suggest its important to regularly review the tariff(s) you're on for both import and export. Situation will vary according to elec imports, export, ability to timeshift and how much you want to keep checking and managing imports & exports.

In my case I sometimes produce around 6 or 7kwh on a sunny day. But the inverter can only take 2.6kwh into the batteries and baseload is perhaps 400w in summer. So around 3 or 4kwh is forced to be exported at time its produced. Typically when Agile rates are low - so Fixed 15p is more attractive than taking low rates and trying to capture higher rates with battery exports at peak times.

For me its simplicity that I want. So Tracker (daily rates) for import and Standard Fixed (15p) for exports


Listed Grade 2 building with large modern extension.
LG Therma V 16kw ASHP
Underfloor heating + Rads
8kw pv solar
3 x 8.2kw GivEnergy batteries
1 x GivEnergy Gen1 hybrid 5.0kw inverter
Manual changeover EPS
MG4 EV


   
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 Tim441
(@tim441)
Prominent Member Contributor
Joined: 3 years ago
Posts: 330
25/05/2023 4:28 pm  

Octopus have reopened Tracker to customers with a switch date of 1st July (includes all those on the waiting list)

Current Tracker elec is around 17p and gas 4p. Nearly half capped rates.

With Export Fixed at 15p for a year (CURRENTLY!). I think almost certain the export rates will be cut in very near future


Listed Grade 2 building with large modern extension.
LG Therma V 16kw ASHP
Underfloor heating + Rads
8kw pv solar
3 x 8.2kw GivEnergy batteries
1 x GivEnergy Gen1 hybrid 5.0kw inverter
Manual changeover EPS
MG4 EV


   
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1
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KoRWraith
 KoRWraith
(@korwraith)
Estimable Member Member
Joined: 3 years ago
Posts: 61
Topic starter 26/05/2023 9:22 am  

@tim441 Thanks for the heads up, I have a couple of family members that missed it last time



   
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