Posted 26 May 2023
Octopus Tracker is back
octopus.energy/pre…es/
Tracker's back: Octopus Energy relaunches ‘Tracker’ tariff to follow wholesale prices
‘Octopus Tracker’ is a fully transparent tariff that passes on wholesale market rates to customers, which means their price for energy can change each day.
Customers will benefit from seeing how the current day's energy price compares to a standard variable tariff (SVT), empowering them to adjust their consumption during peak and off-peak days.
By matching energy consumption with lower-priced periods, customers can significantly reduce their energy bills. Over the last year, an average household on ‘Octopus Tracker’ would have saved 4% compared to the new price cap of £2,074 also coming into effect on 1st July 2023, but prices can rise as well as fall.
While customers signing up to the tariff should be prepared for wholesale prices to rise later in the year as demand grows, there is a maximum cap on ‘Octopus Tracker’ prices at 100p/kWh for electricity and 30p/kWh for gas.
Octopus Tracker is designed for households who are able to shift large amounts of their energy use to avoid any expensive peaks. The product has been closed to sign ups to protect consumers from a period of huge wholesale prices, but has reopened now that prices have been mediated.
Places are limited - customers can register their interest to join the product and will be added to the waiting list, with the product due to open on 1st July 2023. The product has no exit fees but customers choosing tracker should consider whether it is right for them to commit to.
Once switching away from Tracker, customers cannot sign up to it again for another nine months.
To learn more about the Octopus Tracker visit octopus.energy/sma…er/
Tracker's back: Octopus Energy relaunches ‘Tracker’ tariff to follow wholesale prices
- Smart tariff ‘Octopus Tracker’ to allow customers to access wholesale prices
- Product due to go live 1st July, with customers getting day-ahead prices connected to the market
- Tracker tariff designed for those who can shift large amounts of their energy use out of expensive days
‘Octopus Tracker’ is a fully transparent tariff that passes on wholesale market rates to customers, which means their price for energy can change each day.
Customers will benefit from seeing how the current day's energy price compares to a standard variable tariff (SVT), empowering them to adjust their consumption during peak and off-peak days.
By matching energy consumption with lower-priced periods, customers can significantly reduce their energy bills. Over the last year, an average household on ‘Octopus Tracker’ would have saved 4% compared to the new price cap of £2,074 also coming into effect on 1st July 2023, but prices can rise as well as fall.
While customers signing up to the tariff should be prepared for wholesale prices to rise later in the year as demand grows, there is a maximum cap on ‘Octopus Tracker’ prices at 100p/kWh for electricity and 30p/kWh for gas.
Octopus Tracker is designed for households who are able to shift large amounts of their energy use to avoid any expensive peaks. The product has been closed to sign ups to protect consumers from a period of huge wholesale prices, but has reopened now that prices have been mediated.
Places are limited - customers can register their interest to join the product and will be added to the waiting list, with the product due to open on 1st July 2023. The product has no exit fees but customers choosing tracker should consider whether it is right for them to commit to.
Once switching away from Tracker, customers cannot sign up to it again for another nine months.
To learn more about the Octopus Tracker visit octopus.energy/sma…er/
Community Updates
18 Comments
sorted byMy gas was 50p yesterday including standing charge and I cooked and heated a tank of hot water with that
Halved my energy bill since January (now £80 per month DD )
Takes one day to update but reliable nonetheless. (edited)
Even at peak, using the air fryer, watching TV etc, I'm still only using 1-3p p/h. I set my boiler to come on for 45 mins from 3am and in that hour, it only used 19p which gave me enough hot water to easily last the day (1 person, 1 bed).
Checked my emails and I'm on it! Not sure if I will go with tracker or Agile. My fixed contract finishes end of June so good timing! Will miss the 20p ish standing charge though and 3p gas! (edited)
3 months down the line I'm still waiting