Energy Price Rises Hi all, What’s everyone thinking of doing RE energy bills? Going on variable and paying the cap prices? Choosing a 1 or 2 year fixed tariff? Staying with current supplier...

[UK Sentinel]

Octopus I believe are offered the £50 refer a friend scheme, so both your friend and yourself receive £50 each added to your accounts.

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[kev2021]

So this is when you find out how many friends you have aye

Kev

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[UK Sentinel]

 hee hee

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[UK Sentinel]

UK Sentinel wrote:

Will be interesting to see if the Octopus Smart meter picks up any changes in Standing Charges and the increase in my dual fuel tariff being switched to the Flexible Octopus tariff .

As I use roughly £3 of Gas/Electric a day which includes the standing charges, it will be interesting if this change is visible via the Smart Meter next week ?

So interestingly, I usually wake up and my Octopus Smart meter reading for electric is around 70 to 90 pence at 7am, for this Monday and Tuesday the smart meter reading was £1.20 ish, good to know the smart meter has picked up the change in tariff and new higher unit price.

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[kev2021]

I’m considering signing up to the Huge energy App – it looks a pretty good interface and it seems to allow you to enter tariff info etc so as my IHD has now stopped working, it just fails to boot up and when it was it was always showing visual high usage on the graphic even though actual usage looked ok I believe, this might be a intermediate solution until such time as I switch gas to smart meter and potentially get a new IHD to show both but the Huge app has advantage that I can check it when I’m not home.  Not in a major hurry to sort the gas out as IF there was ever a issue, meter is outside so would be minimal disturbance etc would only be a issue in winter if it packed up and no heating etc but meter isn’t that old so not anticipating that.

Only concern is providing card info for them to verify it is my meter etc.  I can use some code of the IHD but as that’s not working, I’m not sure what use that would be.

Also my provider has just changed my DD, I thought it said from August but appears to have been from July so my DD has gone down quiet a bit, so pleased with that, although time will tell if they have set it too low lol.

Kev

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[Superhands]

UK Sentinel wrote:

Good point, just had a quick look, Octopus Tracker product/service is available from the 1st July so worth another look as I believe wholesale prices are still going in the right direction. From what I can recall, only Loyal Octopus 12M Fixed or Flexible Octopus tariffs was available for us to select at the time. Was your tracker via the beta for Octopus?

 

I think it was the beta, i’ve been on it since around feb time. There was one day recently, saturday i think, there elec was down to 8p/kwh.  Went back up to about 18 the following day but even so, massive savings.

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[UK Sentinel]

Massive savings indeed, do you know if the Tracker rate has an off peak time zone where electric is cheaper in the evening or overnight etc ?

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[Superhands]

No the tracker is the one price for the whole day.  They do have other ones like intelligent octopus or octopus go which offer cheaper rates at night, but I think you might need to have an ev to take those up.

They do have another tariff Agile octopus that changes every half hour based on wholesale prices, that one can actually dip below zero so you get paid to use energy at various points. It does vary a lot more than the tracker does though.

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[UK Sentinel]

Superhands wrote:

No the tracker is the one price for the whole day.  They do have other ones like intelligent octopus or octopus go which offer cheaper rates at night, but I think you might need to have an ev to take those up.

Thanks for feedback and good to know the Octopus Tracker tariff price remains fixed for that whole day, I can start putting the washing machine back on again in the morning before work

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[Superhands]

Has to be done.  The tracker tariff in my eyes is amazing, the fairest way to get energy.  In some respects I don’t mind paying more for it if the wholesale costs shoot up (after all why should they pay for my energy when we have to pay what we use for other things, like fuel). on the basis that I benefit immediately as the wholesale costs come down, which this tariff provides.  It seems criminal that today i’m paying 18p/kwh for elec and others on ‘price cap’ tariffs are paying, what, double that?

 

Even then there’s room for improvement as the wholesale price of elec is affected majorly by the wholesale cost of gas.  Given most days well over 50% of our elec comes from renewables these days they are looking to decouple those prices but I don’t think we’ll see that for years as it involves a whole market shakeup.  When that happens elec costs should drop a lot more.

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[Superhands]

This site has historical prices for the tariff for comparison

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[UK Sentinel]

Trackers are a great idea if you are happy, maybe brave with a fluctuating bill etc, do you use Gas also and if so how did you find the prices (fairness) since you joined the tracker in Feb ?

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[Superhands]

I do use gas and was certainly the biggest contributor to the savings when I first switched over. Even during the colder months the tracker price was far below the price cap tariff prices.  Perhaps if the wholesale prices keep coming down the difference between them will narrow but unless the prices shoot up the tracker should otherwise always be cheaper than a fixed tariff as they bake in a chunky cost of insuring/hedging your tariff against price rises which gets added into your unit cost, which they don’t have to do with the tracker as we’d just have to pay it or switch tariff.

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[UK Sentinel]

Superhands wrote:

I do use gas and was certainly the biggest contributor to the savings when I first switched over. Even during the colder months the tracker price was far below the price cap tariff prices.

I’m hooked, will be interesting to keep an eye on my bill over the remaining of this summer and compare notes again in the Autumn when prices (Gas) may start to creep upwards.

Thanks for you good advise, most appreciated 

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[kev2021]

Just signed up to hugo app, will see how it goes from here.

Could use either card or bill to verify. Went with card as said fastest and easiest as bill would have other info like A/C number etc.

kev

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