Octopus Energy – Your fixed term is coming to an end – Octopus Tracker We had from Octopus Energy the yearly dual fuel account update and to say that our Octopus Tracker is coming to an end and we can renew on to the...

[UK Sentinel]

We had from Octopus Energy the yearly dual fuel account update and to say that our Octopus Tracker is coming to an end and we can renew on to the latest version of Tracker for another 12 months.

If we do nothing, we will automatically roll onto the Flexible Octopus, their always great value variable tariff.

Octopus also in their email update stated, Octopus Tracker has no exit fees, so you can switch penalty-free at any time. If you decide to leave Tracker, you have to wait nine months before you can rejoin.

Anybody currently using the new Octopus Tracker and how it compares to say Octopus Flexible Octopus ?

 

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[Superhands]

I’ve been on the octopus tracker (dec2023) and got the same email to move over to the dec2024.

It is no longer the great deal it once was, they’ve whacked on huge extra profit margin. They’ve increased the standing charge up to about the price cap standing charge, even though it’s not a price cap tariff.

 

They’ve also increased both parts of the tracker unit formula, so it is now 1.2x wholesale unit cost (up from 1.1something) + about 12p additional margin. The additional margin bit is now almost double from when tracker first came out.  I suspect tracker was so popular that Octopus are now using it to massively squeeze profit out of those customers, it’s no longer the must-have tariff it was.

I see in the MSE email there is a new eon tariff that looks somewhat tempting, elec 21.18p/kwh gas 6.295p fixed for 16 months. Tempted by that myself as I don’t like what Octopus are doing now.

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[UK Sentinel]

That EON electric tariff looks very tempting, elec 21.18p/kwh.

 

Especially when considering the below for Octopus Tracker vs Agile.

The Electricity Tracker December 2024 v1 Price on Thu 16/01/2025 is 26.38p/kWh, tomorrows price is 25.82p/kWh..

Currently, The Agile Octopus Price at 3:37 PM Thu 16/01/2025 is 27.29p/kWh. for the Southwest.

https://mysmartenergy.uk/Prices/South-West-England

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[UK Sentinel]

Whats your thoughts on Octopus AGILE electricity only tariff ?

 

Edit: Took a second reading for AGILE at 16:06 to see how much the peak time costs per unit ?

(peak times for Octopus Agile are usually between 4 PM and & 7 PM)

Note: Tracker price remained the same as its a Daily value.

 

The Agile Octopus Price at 4:06 PM Thu 16/01/2025 is 40.20p/kWh.

(Out of interest I will take another reading after 7:30 PM, just to check if price reduces for my area)

 

Edit: Agile prices for 9:13 PM which is still high in my opinion

The Agile Octopus Price at 9:13 PM Thu 16/01/2025 is 25.27p/kWh.

 

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• This reply was modified 1 year, 3 months ago by UK Sentinel. Reason: Added extra AGILE price
• This reply was modified 1 year, 3 months ago by UK Sentinel. Reason: Added 9:13 PM Agile prices

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[Superhands]

Agile only ever seems worth it if you can regularly load shift or if you’re able to store with a battery and use during peak times.

if you check the octopus compare app you can pull in your usage and compare to all the tariffs and see what would have been cheaper during any given period. Agile always comes out more expensive for my usage.

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[UK Sentinel]

Cannot find the EON electric tariff 21.18p/kwh, must be specific to your area.

I may keep going with the Octopus Tracker until the next set of Ofgem Price cap announcements and given the recent developments in Israel and all that’s going on in the US next week, hopefully this will help stabilise the energy markets and reduce wholesale prices.

Short term pain for long term gain, a gamble I know but the aim now is to find deals offering electric tariff 21.18p/kwh or better

Thanks for great advise as always

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• This reply was modified 1 year, 3 months ago by UK Sentinel. Reason: Thank you added

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[Superhands]

There are some details in the weekly MSE email here Latest weekly email: BILLBUSTER special

The tariff is E.on Next EXCLUSIVE Fixed 16m V1 you can either get it directly from Eon or go via the MSE energy comparison thing for a bit of cashback too.  Prices will very a bit by area but should be close to that wherever you are.

I would stay on tracker myself and ride out the highs which are always a risk with the tariff.  But I really don’t like them continually adding on so much extra profit margin into the mix, makes times like these when the actual wholesale cost is very high even more expensive with the extra margin.  They won’t even explain when asked what the extra costs are for

 

 

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[UK Sentinel]

. Superhands Said:

I would stay on tracker myself and ride out the highs which are always a risk with the tariff.  But I really don’t like them continually adding on so much extra profit margin into the mix, makes times like these when the actual wholesale cost is very high even more expensive with the extra margin.  They won’t even explain when asked what the extra costs are for

 

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[kev2021]

I fixed mine back in August and just checking uswitch, it seems I’ve not done too badly as there is only 1 tariff cheaper and i would save a whole £3 it predicts so overall seems the tariff is pretty good so far, time will tell if that remains so or not.

Kev

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[kev2021]

Hi, still on the tracker? I see opinion seems to be to get of price cap now due to rises in April.  I’m on 2 year deal so mi ok till next year, then who knows what we will be paying as no doubt more rises in oct, Jan etc

Kev

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[dodgydrains]

I am on 12 months Fixed November 24 V2.

Dreading what the tariffs will be when that expires.

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[dodgydrains]

My fixed rate tariff with Octopus also will expire soon.  Decided to take the plunge and switched to an upstart company, Fuse Energy.  Hopefully they don’t go under, before my 13 month fixed rate that I signed up with them on, expires in September 2026.

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[UK Sentinel]

Brave, online reviews look positive for Fuse Energy

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[Superhands]

The rates with Fuse do look quite attractive at the moment.  If I weren’t about to switch to an EV I would probably switch to that from Tracker, the amount of profit margin Octopus have bloated tracker tariff with now (12-13p/kwh) it’s not often it’ll drop below the fixed rates offered by Fuse

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[dodgydrains]

The switch went well.  They had a new cheaper tariff after the switch.  As it was within the first 14 days, Fuse allowed me to switch to it with no fees.

Anyone looking to switch to Fuse, they open up referral scheme from time to time.  There is a referral scheme now, I can send  referral which is valid for 2 weeks and new customers can earn up to £150.

 

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• This reply was modified 8 months ago by dodgydrains.

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