Unfortunately, this deal has expired 2 minutes ago.
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Posted 1 July 2023
Octopus Gas and Electricity Tracker now open again for signups - e.g. today gas 4.6p/kWh, electricity 13.37p/kWh
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CynicalNurse
Joined in 2020
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2,862
About this deal
This deal is expired. Here are some options that might interest you:
Please note - referrals are not permitted. Please avoid references, requests or discussions of them.
This deal isn't for everyone but potentially good savings to be made if you are happy to keep an eye on prices.
Octopus have reopened transfers onto their Tracker tariff where the price of gas and electricity is set every day depending on wholesale prices.
For the last year or so these have usually been below the energy price guarantee, often substantially so, although they could rise in future.
E.g. Today tracker gas is 4.60p/kWh, price cap is 7.61p/kWh
Tracker electricity is 13.37p/kWh, price cap is 30.30p/kWh
After a pause signups have reopened and if you are an existing customer and sign up this week they will backdate prices to 1st July.
Tracker Gas prices over the last month - red line if the price cap rate
Tracker Electricity prices over the last month - red line is price cap rate.
Because this is Octopus if prices do go up you can switch back onto a capped tariff from midnight the following day. So if prices begin to rise you shouldn't need to pay more then the capped rate *as long as you check prices every so often*. If you switch away from Tracker then you can't switch back within 30 days, and sometimes they close new transfers to these tariffs.
This is different from Octopus Agile which has been posted before because this has a gas tariff as well, and the pricing doesn't change every 1/2 hour so it doesn't matter if you use power primarily in peak periods. There is one price per 24hrs. You need to have a smart meter that's either SMETS2 or SMETS1 Secure - Octopus will install one for you if you don't have one.
Seems like a great deal if you are prepared to keep an eye on prices every week or two as you can move onto capped tariffs if prices rise.
Email sent out - if you haven't received one sign up via the website.
For those asking why Octopus can offer much cheaper rates as a tracker, when you sign up for a normal tariff Octopus hedge - essentially pre-pay - for a years worth of electricity and gas for you which at the moment is high because of energy uncertainty. This means they can't get into the situation that Bulb, Green etc were in where they sold energy for less than it cost them. However, it means they have to pay a premium for that certainty. Tracker effectively means that you benefit from lower prices now and instead rely on there being a price cap if things go Pete Tong. So there is some risk, but as Tracker rates were on average far below EPG rates for the last 12 months one that could pay off for a lot of people.
Octopus have reopened transfers onto their Tracker tariff where the price of gas and electricity is set every day depending on wholesale prices.
For the last year or so these have usually been below the energy price guarantee, often substantially so, although they could rise in future.
E.g. Today tracker gas is 4.60p/kWh, price cap is 7.61p/kWh
Tracker electricity is 13.37p/kWh, price cap is 30.30p/kWh
After a pause signups have reopened and if you are an existing customer and sign up this week they will backdate prices to 1st July.
Tracker Gas prices over the last month - red line if the price cap rate
Tracker Electricity prices over the last month - red line is price cap rate.
Because this is Octopus if prices do go up you can switch back onto a capped tariff from midnight the following day. So if prices begin to rise you shouldn't need to pay more then the capped rate *as long as you check prices every so often*. If you switch away from Tracker then you can't switch back within 30 days, and sometimes they close new transfers to these tariffs.
This is different from Octopus Agile which has been posted before because this has a gas tariff as well, and the pricing doesn't change every 1/2 hour so it doesn't matter if you use power primarily in peak periods. There is one price per 24hrs. You need to have a smart meter that's either SMETS2 or SMETS1 Secure - Octopus will install one for you if you don't have one.
Seems like a great deal if you are prepared to keep an eye on prices every week or two as you can move onto capped tariffs if prices rise.
Email sent out - if you haven't received one sign up via the website.
For those asking why Octopus can offer much cheaper rates as a tracker, when you sign up for a normal tariff Octopus hedge - essentially pre-pay - for a years worth of electricity and gas for you which at the moment is high because of energy uncertainty. This means they can't get into the situation that Bulb, Green etc were in where they sold energy for less than it cost them. However, it means they have to pay a premium for that certainty. Tracker effectively means that you benefit from lower prices now and instead rely on there being a price cap if things go Pete Tong. So there is some risk, but as Tracker rates were on average far below EPG rates for the last 12 months one that could pay off for a lot of people.
More details at Octopus Energy has currently £50 credit for you and the referrer when you sign up with Octopus Energy campaign, if you want to use it you can do so from this .
Community Updates
Edited by a community support team member, 15 July 2023
1239 Comments
sorted byI have just switched over to the tracker. But my IHD is showing the same rate every day.
11p+ for electric
3p+ for gas
I have contacted them and they said that sometimes tracker is incompatible with the tracker rate but it will still charge me correctly.
I have asked for clarification and awaiting reply.
I am at a lost how that can be. How am I supposed to know what the rate is if I can't rely on the IHD? Will the monthly statement give me a daily breakdown of what rate I am being charge at daily?
Also, will the Octopus Energy own app tell me what the daily rate is? I see there is an app called Octopus Watch which is a paid for app. Is this necessary for me to get in order to keep track?
Sorry this is so long. TIA
gcccc4f6c5ed303-gtxk2uqiyag1cro2.adb.uk-london-1.oraclecloudapps.com/ord…ome
*I do not have one, and don't want one.
Thnx
Is there such a graph where i could view the prices and also one that includes the price cap rates? Thank you
The price average for the last year with tracker for south wales
20p elec
4.5 gas
Absolutely worth sitting out the highs
Go up to the deal post and look at the graph "Tracker Electricity prices over the last month - red line is price cap rate"; every day Octopus Tracker tariff was at least 25% cheaper and some days hit 50% cheaper. If you have gas then check the gas graph too, every day a lot cheaper on Octopus Tracker Tariff.
An example. If you were using ten units of electricity a day then on OVO's standard variable tariff, the one you are on by default with OVO, this would cost you around about £3.03 a day plus a standing charge of £0.50 a day (£3.53). On Octopus Tracker yesterday for ten units of electricity I paid £1.53 plus standing charge of £0.50 (£2.03).
I paid just over half the price you did yesterday and will pay just over a quarter of the price you pay today.
The tl;dr is as soon as you can join Octopus, and get a smart meter if you dont have one, and if you have electric vehicle or solar/wind or can move most of your use outside prime time (say 3pm to 11pm) then check all Octopus tariffs to work out which is best tariff for you, otherwise it is almost certain Octopus Tracker tariff will be best for you.
Most of us on Tracker or other special tariffs have saved hundreds or even thousands of pounds on Octopus in six to eight months compared to the price capped standard variable tariff other suppliers are putting people onto.
Works out to be a bit more than the price for existing tracker customers
The new formula is listed under "How is the daily unit rate for Octopus Tracker calculated?" at https://octopus.energy/tracker-faqs/
EDIT: All new joiners to tracker also need to agree to a 12 month tracker.
As an example of the change in the pricing formula
For existing tracker customers the pricing formula in London is:
Electricity unit charge: (W * 1.1913) + 6.7864 p per kWh
Gas unit charge: (W * 0.03604) + 1.3017 p per kWh
The pricing formula for new tracker customers from today in London is:
Electricity unit charge: (W * 1.1913) + 10.5046 p per kWh
Gas unit charge: (W * 0.03604) + 1.5674 p per kWh (edited)
Octopus appears to want to redress the balance of risk vs reward in their favour to ensure the house (Octopus) wins.
The take out from it is that before 0; July 2023, the average daily rate on Tracker was about 7p per kwh lower than the majority.
hotukdeals.com/com…852
I have moved to Octopus about month ago. I'm on Flexible Octopus tariff. Got smart meteres sorted and all is working fine. Would you say it should be fine to move to tracker right now or better wait and move after winter? I'm so confused with this.
Thanks.
The situation in Ukraine is more or less factored into prices, but the Middle East, if it blows up, will cause a massive increase. Octopus put up their fixed price contract recently by 8% and 11% to reflect the increased uncertainty.
I’m afraid there is no simple answer. It depends on your appetite for risk. I switched back to the fix when it was at the old prices and I’m happy with that decision because I take the view that we’re heading for substantial increases. I’m every bit as likely to be wrong as right in that view though, but I like the certainty of the fix at the lower prices - albeit more than current Tracker rates.
1. If I change to this Tracker do I need to do anything! Like check the usage every day and click something to change a setting of anything really.
2. If I change to Tracker, does it cost me to change back to my normal account.
Your advice would be appreciated
2. No
You may find that in Scotland the costs are higher as there are less customers and more infrastructure needed (longer cables or more difficult terrain) (edited)
It states above in the original post by that you can switch back to capped tariff from Midnight the the following day.
However on their website states “This can take up to two weeks to be processed” can someone clarify what the above means?
I.e. assume it’s 23:55 and prices are going up, can you change right after 00:00? Or do you have to notify Octopus and wait a full 24 hours for the switch to fixed tariff?
Finally I’m currently on Flexible Octopus November 2022 v1 is it possible to change back to this tariff or will it be a different tariff and different rates? (edited)
I noticed the last time this went up that they’re now saying it’s 2 weeks to move off the tariff.
I’m pretty certain it’s a new term they’ve added in at some point between the beginning of the year and now. Equally I was never notified that I would need to be off the tracker tariff for a minimum of 9 months if I left, so I presume that’s been added too.
mailchi.mp/hug…7a1
📲 Opt in via the Octopus app – click Octoplus, then tap opt in now: https://octopus.energy/app/octoplus
📉 Use less power 5.00PM - 6.30PM, 29th November and *earn an EXTRA HUGE 3200 Octopoints (£4) per kilowatt hour* for anything you save compared to normal
🎁 By opting in, you'll go into a prize draw for a chance to win 888,888 Octopoints (worth £1,111).
This one really matters. *Any power you save will directly reduce the need to fire up extra fossil fuels in the cold snap.*
Every little bit counts: so this time, every opted in customer will earn 100 Octopoints minimum (meaning if your Session rewards add up to less than that, we'll bump them up to 100).
At the moment electricity alone I am saving around £125 a month compared to a standard tariff (we do have an electric car) so we have high usage.
£125 x7 months,... £875 savings and that's not even including gas savings come winter.
I check the price daily and I have a spreadsheet to track usage/price. It hasn't even come close to any standard tariff out there so don't worry.
My advice is get yourself on the waiting list, you wont regret it. (edited)
thesun.co.uk/mon…ap/ (edited)
On top i lowered my DD to £1 ( can’t be done in one go but bit by bit) and i “top up” my octopus account using my Chase card that gives %1 back so £100 I get £1 back
Don’t work on DD that’s way i top up to get the cashback ,don’t forget to use the £50 referral code too Happy days for now
Today for 1 hour between 17:30 - 18:30
Opt in now to earn 1800 Octopoints - worth £2.25 - for every unit of power you save.
I would say unless you have a charger what supports Octopus Agile or Intelligent then Octopus Go is the easiest choice because you can just set the timer in you car.
Intelligent/Agile are great if your car or charger supports them.
If not Tracker for gas and Go for Octopus unless you use loads of electricity during the day, in which case Tracker for both.
Question, I know the rate changes daily, but do they show you the average for the month? I like to note down all my usage.
Thanks
You can see the price for the last seven days 30 ,90 days and even 365 days and the average depending on which you choose.
The Average for the last 30 days ( Yorkshire )
Was 3.92p
can someone please explain octupus Agile and Go tariffs?
we use gas central heating, don’t have any solar panels or anything advanced like that. Would those tariffs benefit us?
gonna switch to tracker anyway but would be interested to know.
Price is also affected by seasonal demand. So while agile is effectively paying you to use energy today it’s rare to see in the summer and almost never happens in the winter for obvious reasons.
cornwall-insight.com/pre…ap/
P.S. Its updated pretty regularly, I would hope over time as costs come down for the price cap so do those on the tracker but again no one can predict accurately 6 months from now.
moneysavingexpert.com/new…o-/
My sister is also with Octopus and she has been waiting for smart meters to be fitted for a lot longer than me and has been told that she will have to wait until the engineers are in her area. I asked the energise engineer do they not cover the area where my sister lives and he told me he was a 5 minute drive from my sisters and he had driven for an hour to get to my house!
Hello@octopus email never even bother to reply to any of my emails. Anyone got their number to call to get my switch expedited? Cheers