Octopus Tracker: first impressions
Our first Octopus Tracker customers are now live.
Nick Pape, one of the first to experiment with the app's features, gave us his review of the app.
Our priority with Octopus Tracker was transparency – letting customers see how much they're paying and how it's divided between us and those responsible for delivering energy. That way, our customers know they're being treated fairly, and that the price of their energy is a true reflection of its cost to us.
How well did we achieve this, Nick?
I liked having an energy provider "bare all" with how they charge me. Octopus not only show the tracker tariff but compare it to what I could pay for my energy usage if I was with a competitor. I get true transparency of what I pay on a daily basis, and I'm now more enthusiastic to learn what I'm forecasted to consume over an annual basis.
Equally as important was making sure we gave you the information you want and in the right way. Part of this was designing the app to be really easy to use, while also displaying data that was meaningful, relevant, and helped you understand your energy charges.
What insights into your energy did Tracker give you?
I now have the confidence that I can log into the app and see updated, next-to-real-time pricing. The stockmarket-like charting is good, and having a meter reading prompt within the Tracker app reminds me that its secondary function is capturing meter readings.
Octopus Tracker is the first of its kind in the UK, designed to give customers confidence and the peace of mind knowing they're getting a fair deal.
How did Octopus Tracker compare to anything you'd seen before?
I was pleasantly surprised by how an energy provider can articulate, through an app, so much detail about my energy when many companies wouldn't know where to start. The potential savings customers could make are massive and it was really useful seeing how the price of my old supplier, First Utility, compares to Tracker.
Nick gave us lots of valuable feedback which, along with that of other customers, we'll use to make the app better. Nick's main gripe was industry jargon:
"The pie charts and abundance of information denote that you need to know what the definition of terms like 'Smart meter obligation' are."
We hate jargon too. Rather than making you guess what each item means, we'll put definitions inside the Octopus Tracker dashboard. Until then, we've put together a short glossary below.
Tracker glossary
Gas
Unit price – the price for each unit of energy you use
Wholesale cost – the published market price for buying your gas
Delivery and networks – the pipes and other infrastructure that deliver your gas
Administration, financing & margin – the cost to run our supply business and make a bit of profit
VAT – Value added tax
Standing charge – the cost of having an energy supply
Metering – the cost of installing, servicing, and reading meters
Smart meter obligation – the cost of installing smart meters under the government's plans
Admin, customer service & margin – the cost to run our supply business and make a bit of profit
VAT – Value added tax
Electricity
Unit price – the price for each unit of energy you use
Wholesale cost – the published market price for buying your electricity
Line losses & shaping – loss of energy during its journey from the generator to you, and in getting more electricity to you when you need it (such as in the evening)
Environmental & social obligations – costs towards greater integration of renewables, and to make energy more affordable for vulnerable and low-income households
Local distribution – the cost to get the energy to you from the local electricity substation
National Transmission – the cost to transport your electricity over national distances
Administration, financing & margin – the cost to run our supply business and make a bit of profit
Standing charge – the cost of having an energy supply
Metering – the cost of installing, servicing, and reading meters
Local distribution – the cost of keeping the cables and other bits ready to send your electricity to you
Smart meter obligation – the cost of installing smart meters under the government's plans
Admin, customer service & margin – the cost to run our supply business and make a bit of profit
VAT – Value added tax
Thanks for your feedback, Nick. We're working hard on making Tracker even better for you and everyone else who wants great value energy and transparent pricing.
Published on 18th May 2017 by:
Hey I'm Constantine, welcome to Octopus Energy!
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