Re: The energy crisis
 

The new gas price for me came in : 3.80p and yet the link says 4p ....

This is scandalous, they are ripping off the country's people with charging 7.52p!!!! Some regions are lower than me.

Re: The energy crisis
 

What is your Tracker tariff? I am on the latest which I think is Dec 2023 v1

---------- Post added at 07:53 ---------- Previous post was at 07:51 ----------

Quite agree. Don't forget, we are paying ~40% less than SVT and they must still be making a profit from us!

Re: The energy crisis
 

Octopus Tracker November 2022 v1

The profit on agile Octopus electricity is at least 100% (Octopus has published the formula). I do not know about gas

Re: The energy crisis
 

So the formula is changing for Octopus tracker.

Electric unit price to rise by 2.3p, and Gas by 0.38p (these sadly might be misleading they quoted average, not actual for the region). Standing charge also to increase by unspecified amount which will make it end up 4% below SVR standing charge. These are fixed increases meaning when the wholesale rate is lower they are a bigger impact in terms of percentage and lower when its higher.

The reasons provided are largely on the basis they have not been charging the true cost in relation to the cost, and have been subsidising the package. Its going to be a matter of opinion I suppose if its profiteering or they have been losing money, but considering the formulas have always been published, unless those formulas were out of date then Octopus had healthy margins on tracker, the only time they would be losing money is if people were pegged at the cap with wholesale rates above it.

I am curious if Agile formula has changed, I dont know as havent checked yet, if it hasnt it might make moving back to it a good option. As 2.8p in terms of % isnt insignificant.

Tracker is also moving back to fixed term. No mention of exit fees in the email although that doesnt necessarily mean they dont exist, havent checked the full t&c's.

Re: The energy crisis
 

Looks like Agile formula isnt changing, although still is getting the same SC increase, I will probably be moving back to Agile some time this month.

Re: The energy crisis
 

Ofgem are cutting the time a supply must complete a customers request to switch suppliers from 15 days to 5 days from April 2024. Under current rules if a switch isn't completed in 15 days a customer is entitled to £30 compensation.

Re: The energy crisis
 

My recent switches have generally all been done in 2/3 days.

In one case, I was asked to pick a date, starting from the day after, and it was done on the date I picked.

Re: The energy crisis
 

Well, it lasted almost 7 months before they finally realised they had screwed up, and "fixed" my bills. :(

Still, on the bright side, the RTS switch off, that would have affected my E7 meter, has been delayed by another year, until March 2025.

So a bit longer before I'll likely have to change it to a smarty. :)

Re: The energy crisis
 

Typical energy bill to fall £238 a year from April under new price cap, maybe it was a good idea I never went fixed.

https://www.bbc.co.uk/news/business-68353627

Re: The energy crisis
 

It will be interesting to see how the Agile & Tracker tariffs respond to this.

Re: The energy crisis
 

I'm considering getting a smart meter installed with Octopus, do I need to be at home if the meter box is outside of my property?

Re: The energy crisis
 

There Twitter / X support is very good they will tell you

Re: The energy crisis
 

Thanks.

I clicked get a smart meter in the account and there are no available slots in my area, I'm in no rush so didn't click to join a list for now.

Re: The energy crisis
 

Indeed :)

Re: The energy crisis
 

"Ofgem has also announced today that it's going to permanently reduce standing charges for prepayment meter customers.

However, standing charges for direct debit customers and those who pay on receipt of bill will rise.

Ofgem has also introduced a temporary additional payment of £28 a year to cover the cost of customers who fall behind on bills. Prepayment meter customers won't be affected by this extra charge."

So those who fully pay will have to pay more to cover those who don't. Despite them receiving large sums of government money to help them?

https://www.walesonline.co.uk/news/u...EJ4Ka2nhUfYLD0