🐙Cut your energy bills nearly in half with Octopus Tracker
- Thread starter ThatFragranceGuy
- Start date
If you add up all your referrals, that would give you a pretty good idea.
ThatFragranceGuy
Well-known member
I've not referred everyone that octopus supplies though, and even on this thread other people have given their codes. I also don't only use fmttm...
ThatFragranceGuy
Well-known member
I think it's just people see it as a risk especially with the warning about the max unit rates. People think they're at risk of spending more but you can always leave for price cap, which majority of the country would be on anyway.
It's one of those things where people say it's too good to be true, must be a catch etc.
Emmersons_BrazillianDong
Well-known member
People don't like, or have no budgetary resilience to have uncertainty. That's the key reason.
I totally understand the lack of flex in budgets, especially in the current situation.
That said, I can't tell you how many times I've advised people they are burning money and how really simple changes can make a huge difference with very little effort.
I've been spending years telling a family member about them using a pre-payment meter for gas and electricity. Even in the good days they were being charged 30% more than regular users. They justify this madness as wanting to know how much they are putting on the meter and being in control.
Blows my mind. They could have literally saved thousands of pounds
ThatFragranceGuy
Well-known member
Yep, when I worked for one of the big 6, a vast majority of their customer base are the scenario known as lazy switchers. They know it's probably poor value but they're just happy with the status quo and don't rant to rock the boat.
An old work colleague reached out for advice and they were with npower. This was in the days where very few people paid the price cap, but she was. I told her what various other suppliers would have charged etc, but spoke to her about 6 months later and she had decided to just stay with npower.
boroboy6872
Well-known member
I only came out of my fix at the end of August and wasn`t in the best position financially to make the switch which you may need 2 to 3 months worth of monthly payments to cover the change over (depending on when you decide what day you pay current provider, along with initial month amount from Octopus and possibly another payment to Octopus on your preferred payment date).
That is a lot of money to pay out if you don`t have it.
So I still stay on the tracker, its just adding the octoplus?
ThatFragranceGuy
Well-known member
Maccarone
Well-known member
Yeap, you stay on the tracker don't worry
ThatFragranceGuy
Well-known member
Electric blanket on full today! 
Redwurzel
Well-known member
The Octopus scheme will save people money, but it varies. Just read an article that says the average saving is 30% in the last 12 months.
Some families will save less because they can't be so flexible with when they use electircity/gas i.e they can't 24 hours to do the washings or charge their phone or need to keep the house warm constantly.
You also need Smart Meters and some people don't have control of the meter say in communal flats or where they rent a property (35% of pop) or its very expensive to have one fitted due to accessibility issues. I suspect the vast majority on FMTTM are house owners in some capaacity.
Without reading through the whole thread - how are standing charges worked out i.e are they the same, which for low energy uses can be half the bill.
The last 12 months have been a period of falling energy prices, which is not normal.
The graph below shows the open market price for gas
Some families will save less because they can't be so flexible with when they use electircity/gas i.e they can't 24 hours to do the washings or charge their phone or need to keep the house warm constantly.
You also need Smart Meters and some people don't have control of the meter say in communal flats or where they rent a property (35% of pop) or its very expensive to have one fitted due to accessibility issues. I suspect the vast majority on FMTTM are house owners in some capaacity.
Without reading through the whole thread - how are standing charges worked out i.e are they the same, which for low energy uses can be half the bill.
The last 12 months have been a period of falling energy prices, which is not normal.
The graph below shows the open market price for gas
Natural Gas Latest Price & News - BBC News
Find the latest price & news for Natural Gas at BBC News
www.bbc.co.uk
Way_Out_West
Well-known member
That's a great saving, in anyone's book, for such little effort.
The Octopus Tracker tariff that is the main subject of this thread has daily changes, so doesn't have a best time of the day to use gas/electric.
ThatFragranceGuy
Well-known member
I think you are confused - Octopus tracker is the same price all day so it doesn't matter the time that people want to put the washing on or putting the heating on? (and charging your phone costs approx £2 per year to charge it very day). If you are meaning they cant wait til the next day because that day is cheap, I doubt anyone is using the tariff in that way because you dont tend to see the next days Elec price until about 4pm. I can see now that tomorrow's price is 19.4p, up from todays price of 15.6p - that isnt going to make me do the washing today over tomorrow - its just going to make today cheaper than tomorrow.The Octopus scheme will save people money, but it varies. Just read an article that says the average saving is 30% in the last 12 months.
Some families will save less because they can't be so flexible with when they use electircity/gas i.e they can't 24 hours to do the washings or charge their phone or need to keep the house warm constantly.
You also need Smart Meters and some people don't have control of the meter say in communal flats or where they rent a property (35% of pop) or its very expensive to have one fitted due to accessibility issues. I suspect the vast majority on FMTTM are house owners in some capaacity.
Without reading through the whole thread - how are standing charges worked out i.e are they the same, which for low energy uses can be half the bill.
The last 12 months have been a period of falling energy prices, which is not normal.
The graph below shows the open market price for gas
Natural Gas Latest Price & News - BBC News
Find the latest price & news for Natural Gas at BBC Newswww.bbc.co.uk
They do have a tariff which varies in time splits but its generally for people with EV's, batteries or Solar or a combination of the 3, and if you are in that category you probably arent deciding when to put the kettle on. however the Tracker product has a daily price, which updates at midnight each day, and for the majority of the year has been cheaper than the price cap (by majority i mean about 355 days out of 365 days, and that was only when it snowed while it was all kicking off in ukraine)
Yes you do need a smart meter, but people who rent are able to request one - that isn't usually in the landlords control. When I rented, I regularly switched.
Standing charges are lower than the price cap products - in Teesside I pay 48.29p a day for elec and 26.84p a day for gas.
The tracker has been cheaper than the price cap for longer than that graph shows. Elec and Gas is forecast to remain fairly static in price until the end of the decade, with only modest reductions (with a caveat that the figures are probably higher than the below because Ofgem changed the calculation slightly)
Predictions & Insights into the Default Tariff Cap (Price Cap)
Cornwall Insight is a trusted provider of forecast models for the Default Tariff Cap, commonly known as the price cap
www.cornwall-insight.com
ThatFragranceGuy
Well-known member
yep, that would be over £500 for the average consumer.
Octopus are that good though that I'd probably still be with them if they didn't have the tracker product, as they're just so much easier to get hold of and all the stuff people struggle with for energy firms like getting DD's changed or credit refunded etc you can just do yourself via the app or website.
ThatFragranceGuy
Well-known member
236 people have shared their API data with the website GasTrackerUK - this scrapes data from their octopus accounts and shows how much they have saved vs paying for the price cap - you can see it monthly, for gas and elec, and you can see an overall figure. My savings are above this as we are high users especially for elec, but it shows that its more than just a few quid saved for the majority of users.
Gas savings will increase as heating goes on more, but probably not to the savings level of last winter due to the price cap being lower, but its still good money saved on a monthly basis.
Gas savings will increase as heating goes on more, but probably not to the savings level of last winter due to the price cap being lower, but its still good money saved on a monthly basis.
Andy_W
Well-known member
Think I've already saved a grand easily, since around the end of May.
My DD has been £1 for the last two months, as my initial DD rate was set at the price cap rate (£356), which has meant I've built up loads of credit. I reckon it will be ~£1 for the next two months also, before I have to figure out what to set the new DD rate at. I reckon I'll be near £200 for 4 months of winter and more like £100 for the rest of the time, not bad for a pretty high use house, as well as an EV and hybrid which does 90% of it's miles electric.
My DD has been £1 for the last two months, as my initial DD rate was set at the price cap rate (£356), which has meant I've built up loads of credit. I reckon it will be ~£1 for the next two months also, before I have to figure out what to set the new DD rate at. I reckon I'll be near £200 for 4 months of winter and more like £100 for the rest of the time, not bad for a pretty high use house, as well as an EV and hybrid which does 90% of it's miles electric.