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Lots of numbers going on here ^ what's the risk of switching from standard capped tariff?
Will the EPG step in if prices go up?
Scrabble-
All on the FAQ page - https://octopus.energy/tracker-faqs/
JonD
Octopus Energy are doing their tracker tariff again, based on wholesale prices.
With wholescale prices being lower at the moment, this represents a pretty big saving at the moment - (e.g. 24.01p/kWh for electricity and 6.62p/kWh for gas for me in Hampshire today).
Compared to the average of 34p/kWh for electricity and 10p/kwh for gas that is pretty standard.
As it is a tracker, it can fluctuate, but looks low at the moment, and expected to be lower than the above prices. Also can switch on and off it with 5 minutes notice.
The energy price guarantee doesn't apply when the price is below the 34p / 10.3p prices, but will kick in when the tracker prices hit that level, so the tracker is a bit of a no brainer because currently any tracker prices up to 51.9p/kwh for electricity and 17p/kwh for gas would be reduced down to 34p / 10.3p anyway.
The EPG offers 17.9p/kwh discount against electricity and 6.7p/kwh discount against gas.
Need to keep an eye on it, because there is a maximum cap at 100p/kwh and 30p/kwh for gas.