Energy Suppliers, Suppliers of Energy. Gas / Electric

Ok, think I've got it. The tracker is good now (cos energy prices are well below the EPG assumed base. The tracker will also be good even if prices increase a fair bit, but once they go over about 52p for elec and 17p for gas, you'd be better off on a standard tariff.

Is that right?

That’s about my understanding. If you keep your eye on wholesale trends you might be able to make this work by switching to another tariff if/when prices look like they’re heading up. Octopus are great generally too, so I’d feel confident that it will all work as they explain. I’m on one of their other smart tariffs and it works really well for us.
If anyone wants to share some referral credit happy to share a link - drop me a PM.

Can someone just @ me on here when I need to switch please? TIA.

Check Octopus pricing here:

http://mysmartenergy.uk/Tracker/London

http://mysmartenergy.uk/Tracker/Southern-England

If prices do increase dramatically, then you can revert to the capped tariff, you can do this in the app, or by phone/email/twitter etc.

Also have a referral code for £50.00 free credit :-)

Pretty much!

Based on todays prices, the price of electricity and gas are approx 1/3 less than most standard variable tariffs. It can fluctuate, and can fluctuate pretty quickly, but the rates have generally averaged considerably lower than the basic 34p/10p rates.

For example, the highest rate for electric was 37.2p/kWh on Tuesday 13th Dec, where it was cold, gloomy, and no wind.
If it hit that rate, the EPG would kick in and you would pay 34p. Generally its been averaging around 24/25p, and has been down to 12.9p/kwh.

Similar with gas, 11.2p/kwh at the highest, averaging around 7p/kwh. Lowest rate 3.2p/kwh. Price held at 10p for gas until the EPG runs out, and then its subsidised by the EPG.

If gas prices stay lower, (though still higher than last year of course) then the gas tracker should hopefully save a 1/3 off your gas heating bill until spring turns up and heating is less of an issue.

@umop3pisdn You should switch. Unless you're on a fixed rate tariff.

Right - I'm sold. Sounds like referal codes are abound - @Acliff - as you highlighted you've got first dibs on pinging one over. Send via dm or whatever if you fancy.

Im paying 24p night and 43p on Bulb economy 7 so thats around the night time rate or cheaper and would see a fair saving even though the winter months see the night time heating/hot water as the biggest part of the bill. no idea if you can even have a flat rate with 2 meters?
If you could I would swap but we are only here for another couple of months but will swap at new flat which is gas/electric. currently spending £1.90 a day there as just a drill/sander/multi tool and a light bulb being used, thats on EON as was the previous provider. i see a right faff with tyring to get the £65 fuel payment credit back of them we do switch, tempted to wait until we are in and using up that 2-3 months credit

The tracker tariff isn't available on economy 7 at the moment unfortunately.
Worth considering once you're in the new flat though subject to what the rates look like then.

Speaking of bulb and octopus, anyone know when customers will actually be transferred to Octopus?

Anyone got a code for octopus? Looks like it’s time to leave the appalling EDF.

One thing to watch out for with the Octopus Agile (tracker) tariff is that’s it’s a “tracker”, not a linked tariff. So whilst it will “track” wholesale prices it won’t be an exact mirror, and will not (in most regions at least) be the same as the wholesale price. Still looks an interesting proposition! But I’m slightly put off by their slight obfuscation (until you read the detail) of the fact it’s not a wholesale linked price, but tracks the rises and falls. Do understand why it’s not wholesale linked, need to make money somehow!

Sent you a code.

From the sounds of it, currently Octopus seems to have the best service and best tariffs.

The service might tank potentially with too many customers if none of the other providers do something soon…

Thanks @Acliff for the heads up on the Octopus tracker. Bit odd you have to email them to sign up but I guess we should take the "we want to make sure the tariff is the right option for you" line at face value?!

Presumably as long as the wholesale price keeps falling it's a no brainer for the moment though.

Either way I'd definitely recommend Octopus. £50 credit each referral link if anyone else needs it:
https://share.octopus.energy/wind-clove-763

Looks like it’s time to leave the appalling EDF.

Before they set the debt collectors on you because they never sent you a bill :/

Assuming this is smart-meter only?

I don't see why but it doesn't say in the FAQs.

We've only got a smart meter for electric because we couldn't have one for gas, so I've just asked them if we can join and whether you need a smart meter, so I'll let you know.

@hamrack yes smart meter only and have to opt in to half hourly meter reads. Need smart meters on both supply lines if dual fuel. Bottom of page here: https://octopus.energy/agile/

The tracker tariff can use a standard meter, they average.

https://octopus.energy/smart/tracker/

from the FAQ

Do I need a smart meter?

No, although it does make it easier, otherwise you need to submit monthly readings and an average for the month will be applied.

*** Agile Octopus does require a smart meter though.

https://octopus.energy/agile/

My £50 each link --> https://share.octopus.energy/ready-cub-171

No, apparently not.
Obviously it’s difficult to have an accurate day by day usage without a smart meter, but I believe that you get an averaged rate between your meter readings.

Octopus installed replacement smart meters for me within a week, so unless you’re against smart meters for some reason, you can get them changed in fairly short order.

Agile octopus is not the same as this tracker tariff.

When you call them, they will tell you that their recommendation is to stay on the standard flexi, their argument being that there is higher volatility.
But really is a no-brainer at the moment due to current forecasts and lack of tie in.

Thanks (and @small, @Fox and @C4r1s). We aren't against smart meters, but we don't have sufficient cell coverage where we are to have them fitted (at least not at the last time of trying ~12m ago).

How easy is it to switch out of an Economy 7 tariff onto a standard one? We're paying through the nose on our current Shell account, and are not using huge amounts of overnight electricity as we are not using the immersion heater that came with the house (rather we are using the gas boiler to heat the water we need for the evening bathtime routines). When I quote on Octopus the default offering is another Economy 7 tariff and won't let me proceed on a standard one. Not sure why this is - presumably the meter readings on a standard tariff are identical to an E7 one, but the latter simply gives an additional reading to monitor night time usage between 8pm-8am?

I have an Economy 7 meter. Can I be on a flat rate tariff?

Sure thing! If a standard 2 rate tariff doesn’t suit you because you use most of your energy during the day, we can switch you to a flat rate where electricity is the same price, night and day. Get in touch to find out more.

hello@octopus.energy

Or you can switch, then just ask to change tariff.