Octopus Tracker Britain's fairest energy tariff, with daily changing prices based on wholesale prices (currently well below capped prices)

Several months since last posted, so setting up a new thread to draw attention to this deal from Octopus which might be of interest to a lot of people looking to get the best rates for gas and electricity. The rates are currently well below the standard capped rates from 1 October, but there are risks - they can increase quite sharply and it can take two weeks to change away from this tariff. Details here in brief, but check it out thoroughly on their website before signing up.

Octopus Tracker is Britain's first tariff to truly follow the wholesale price of energy.
Every day, we update the price of your energy based on an independently published wholesale market price — the price available to all suppliers.


Here's what you need to know

• Tracker is available for electricity and gas. Prices change daily, based on our transparent formula, and independently published wholesale prices.
  
• Over the warmer months, prices tend to be lower, and we expect them to increase – likely double – when the heating comes on and the sun starts setting earlier.
  
• Tracker features Price Cap Protect, which caps the maximum daily price at 100p / kWh for electricity and 30p / kWh for gas – keep in mind that's a lot higher than the Ofgem Energy Price Cap, so if you can't afford prices to increase further, you're probably better off sticking with a protected tariff such as Flexible Octopus.
  
• Should you choose to leave Tracker, it won't be instant – you may need to wait up to 2 weeks before the switch to your new tariff will complete. After leaving, you'll need to wait 9 months before switching back to Tracker.
  
• You'll need a working smart meter to switch to Tracker. If you don't have one yet, we can install one at no extra cost, but you'll need to stick with a standard tariff, such as Flexible Octopus, until your smart meter is installed and running properly (this usually takes a few weeks – but some homes can take much longer).
  

Want to know more? Take a look at our Frequently Asked Questions