Octopus Tracker is a variable tariff with electricity and gas unit rates that change each day in line with wholesale energy prices. This guide explains how Tracker works, who can join, the risks to consider and whether it could suit your household.
Check today’s Tracker rates
Tracker electricity and gas rates change daily and vary by region. Use our Octopus Tracker pricing dashboard to see today’s and tomorrow’s prices in your area and look back at recent price history.
What is Octopus Tracker?
Octopus Tracker is a tariff from Octopus Energy with electricity and gas unit rates that change once a day.
Unlike Flexible Octopus, where prices usually change when the Ofgem price cap is updated, Tracker follows the wholesale energy market much more closely. This means its rates can fall sooner when wholesale costs drop, but they can also rise from one day to the next.
Electricity and gas are treated separately, so you can choose Tracker for one fuel or use it for both.
Tracker sits between a conventional variable tariff and a more hands-on smart tariff such as Octopus Agile. Prices change more frequently than they do on Flexible Octopus, but you still pay the same rate throughout each day.
How does Octopus Tracker work?
Octopus calculates a different electricity and gas unit rate for each day using day-ahead wholesale market prices.
Once the daily rates have been set, the same electricity and gas prices apply throughout that day. There are no half-hourly changes to manage as there are with Octopus Agile.
Tracker prices are calculated using a published formula. Wholesale energy costs are the main part that changes each day, but the formula also includes other costs involved in supplying energy to your home, such as network charges, government levies, operating costs and VAT.
The unit rates change daily, but the pricing formula and standing charge for the Tracker version you join do not move with wholesale prices each day. When your tariff term ends, you may be offered a newer version with a different formula or standing charge.
Does Octopus Tracker have a price cap?
Octopus Tracker is not protected by the Ofgem price cap in the same way as a standard variable tariff.
Instead, Tracker has its own maximum daily unit rates. The current limits are:
- 100p per kWh for electricity
- 30p per kWh for gas
These limits are much higher than normal household energy prices. They are intended to place an upper boundary on the tariff rather than keep Tracker close to standard variable rates.
Tracker could therefore still become very expensive during a major wholesale market spike, even without reaching its maximum rate.
Is Octopus Tracker cheaper than the price cap?
Octopus Tracker can be cheaper than a standard variable tariff protected by the Ofgem price cap, but this is not guaranteed.
When wholesale energy prices are low, Tracker rates can sit below Flexible Octopus and other standard variable tariffs. When wholesale prices rise, Tracker can become more expensive.
The Ofgem price cap and Tracker also work differently. The price cap limits the unit rates and standing charges used by standard variable tariffs for a set period. Tracker follows wholesale markets and sets a new unit rate each day.
Whether Tracker works out cheaper for you will depend on:
- the daily electricity and gas rates in your region
- the standing charges on each tariff
- how much electricity and gas your household uses
- what happens to wholesale energy prices during your tariff term
Looking at recent Tracker prices can provide useful context, but past performance cannot tell you whether the tariff will remain cheaper.
Who is Octopus Tracker best for?
Octopus Tracker may suit households that:
- have a compatible smart meter
- are comfortable with unit rates changing each day
- can accept the risk of occasional price increases
- want a tariff that follows wholesale prices more closely
- prefer one rate each day rather than half-hourly pricing
- want the option to use Tracker for electricity, gas or both
Tracker can appeal to people who want exposure to lower wholesale prices without having to organise their electricity use around different times of day.
Unlike Agile, you do not need to check 48 different prices or move appliances into particular half-hour periods. You pay the same unit rate from the start to the end of each day.
Who should avoid Octopus Tracker?
Tracker may not be suitable if you:
- want predictable unit rates
- would find frequent price changes difficult to budget for
- are uncomfortable with the possibility of sudden price increases
- do not have a compatible smart meter
- have high winter energy use and little room in your budget for more expensive periods
- want a tariff you can largely ignore
Winter can present a greater risk for households using gas central heating. Gas consumption normally rises as the weather becomes colder, and Tracker rates can also increase if wholesale demand is high.
If a run of higher prices would put pressure on your budget, a fixed tariff or Flexible Octopus may provide more certainty.
Octopus Tracker eligibility
To join Octopus Tracker, you will normally need:
- to be supplied by Octopus Energy
- a compatible smart meter that Octopus can communicate with
- to allow Octopus to collect the meter data needed to bill you on the tariff
Your smart meter must be communicating correctly before Octopus can move you onto Tracker.
Tracker is available separately for electricity and gas. This means you could place one fuel on Tracker while keeping the other on a different tariff.
How do I switch to Octopus Tracker?
If you are already with Octopus
You can switch to Tracker through your online account or the Octopus Energy app once your smart meter is sending readings correctly.
If Tracker does not appear as an available tariff, you may need to contact Octopus to check your meter and account eligibility.
If you are not currently with Octopus
You will need to switch your energy supply to Octopus before moving onto Tracker.
New customers often begin on Flexible Octopus while their supply transfer is completed and Octopus confirms that the smart meter is communicating properly. Once your account is active and your meter is sending the required readings, you can apply to join Tracker.
Leaving and rejoining Octopus Tracker
Octopus Tracker has a 12-month tariff term, but it does not currently have an exit fee. You can switch to another available tariff if Tracker no longer suits you.
However, leaving can affect how soon you are allowed to return. If you leave before the end of the term, you will normally need to wait nine months before rejoining Tracker.
This restriction does not normally apply when leaving during the final 49 days of your tariff term.
Check the terms of the particular Tracker version you are joining, as tariff rules can change over time.
Octopus Tracker FAQs
How often do Octopus Tracker prices change?
Tracker electricity and gas unit rates change once a day. The same rate applies throughout each day.
Your standing charge does not change daily with wholesale prices.
What time are tomorrow’s Tracker prices published?
Octopus publishes a new electricity and gas rate for each day. Tomorrow’s prices are normally available before the following day begins, although the exact publication time can vary.
Use our Octopus Tracker pricing dashboard to check whether tomorrow’s rates are available.
Can I have Tracker for gas but not electricity?
Yes. Tracker is available separately for electricity and gas.
For example, you could put your gas supply on Tracker while using Agile, Intelligent Octopus Go or another tariff for electricity.
Do I need a smart meter for Octopus Tracker?
Yes. You need a compatible smart meter that Octopus can communicate with and use to bill your daily consumption correctly.
If your meter is not communicating, Octopus may need to resolve the issue before you can move onto Tracker.
Can I leave Tracker if prices rise?
Yes. Tracker does not currently have an exit fee, so you can switch to another available tariff.
You should be aware that leaving during the tariff term can mean waiting nine months before you are eligible to rejoin.
Is Octopus Tracker the same as Octopus Agile?
No. Tracker gives you one electricity rate for each day, while Agile has a different electricity price every 30 minutes.
Tracker is simpler because you do not need to move your electricity use between different periods of the same day. Agile may offer greater savings to households that can shift significant usage into its cheapest half-hour slots.
Tracker is also available for gas, while Agile is an electricity tariff.
What happens if my smart meter stops sending readings?
Contact Octopus if your smart meter stops communicating.
Octopus may need to investigate the connection, ask for manual readings or arrange work on the meter. The exact process will depend on the cause of the problem and how long readings have been unavailable.
Is Octopus Tracker right for an EV, heat pump or home battery?
Tracker can be used by households with this technology, but it may not be the best available tariff.
Octopus offers specialist tariffs with cheaper periods designed for EV charging, heat pumps and home batteries. These could offer better value if you can move a large amount of electricity use into their discounted periods.
You can compare Octopus Energy tariffs to see which options are designed for different household setups.
Get £50 credit when switch to Octopus Energy using our Octopus Energy referral code.
Find out how the referral offer works and how to claim the credit before switching. If you switch through a referral link on this site, we may also receive a referral payment, at no extra cost to you. Energy prices, offers and tariff terms can change, so always check the latest information before switching.