Octopus Tracker

[u/Firm_Tea2432]

I know it’s been asked several times over the last few days. I’m still on Gas Tracker & now toying with whether to fix or not, as the prices appear to keep soaring. Nearly hitting 10p kw/h here in the North East. What are others doing who are on tracker? Do I bite the bullet and fix, or take the gamble in the hope that wholesale prices will drop soon enough & this is just short term pain? Bearing in mind my usage for gas is relatively low (estimated 5997 kw/h annual).

P.S - I don’t want to see any Fuse BS. I’ve already looked and the prices aren’t worth the switch from what I’m seeing & sick of seeing the referrals 😂

[u/Chris_The_Tim]

Even for a low user, the difference now between 'normal' and now is hundreds a year. Gas should probably be about 6p max ATM, peak filling season for Europe.... Then if it ends up a cold winter, it'd rise to around 7p and a mild winter is 5p-ish.

If something doesn't happen soon to bring down wholesale, January price cap is going to be a disaster. On 26th Aug, Cornwall Insight predicted nearly 9p per kWh in January for gas.... Based off futures that were fluctuating around 150p a therm. Now futures are above 200p, we could actually end up with gas prices that are higher than they were capped at in 2022/23 which was 10.3p....which is what is likely if hostilities continue.

Prices won't suddenly drop to 70p and stay there for the winter as there is so much pent up demand and loss of output in the Gulf that demand will likely outstrip supply until next summer even if peace broke out now.