Octopus Energy Tracker Tariff Now Open Again - Pay Wholesale Price Every Day
Octopus Energy have now opened their Tracker Tariff again after it being closed to new customers. Please DO NOT post referral links or code as they will be removed.
Please read ALL of the info before you make a decision on whether or not to join this tariff as it can go higher as well as lower as the prices are based on the daily wholesale energy price which can and do change on a daily basis. Also they do not offer this service on economy 7 so you won't be able to switch to this unfortunatly.
This is the UK's first energy tracker tariff which tracks and follows the wholesale energy prices so to get the best out of this deal you will need a smart meter or at the very least be providing your meter readings on a very regular basis so you truly get the price on the day.
If you are already an Octopus customer you can email them at hello@octopus.energy and tell them you want to switch to the tracker tariff.
With this tariff, you log into your account and see exactly what you are paying on a daily basis and how it compares to the price cap tariff which is fixed months in advance and does not reflect the changing wholesale energy prices which your energy suppliers are actually paying.
You will also see a breakdown of exactly where your money is going in the form of a Pye chart as well.
Will I be exposed to unreasonable risks of volatile prices?
We have introduced a maximum cap on Tracker prices at 100p / kWh for electricity and 30p / kWh for gas
With the Octopus Tracker, your prices are guaranteed to reflect wholesale market drops just as quickly as market increases. In the long run, trackers are usually cheaper than hedged and insured prices (hedging and insuring are not free – and consumers always pay the price in the long run).
Why has no other supplier done this?
It’s technically complex, requires a sophisticated user interface, and most importantly, it ties the hands of a supplier. Many suppliers may not want to take such a step yet.
How does the Octopus Tracker compare to other tariffs?
Tracker provides a direct pass through of wholesale costs for both electricity and gas, while for our fixed tariffs, we buy a customer’s energy for the 12 months ahead and price the tariff so that there’s a small margin for us to cover the costs of doing business. Tracker is designed to do away with all that: with direct pass through of the wholesale prices customers are then able to adapt when they use their energy, in particular avoiding peak times, to make significant savings.
If wholesale prices go up, am I stuck on the Octopus Tracker paying a higher price?
No, if you ever want to come off the Octopus Tracker, just email hello@octopus.energy and we will move you to one of our other tariffs right away, alternatively you can switch directly in your online account. Additionally, we have introduced a maximum cap on Tracker prices at 100p / kWh of electricity and 30p / kWh for gas.
Does this affect my Direct Debit?
When you sign up to the Octopus Tracker we estimate what your annual cost will be, divide it by 12, and set your direct debit to that figure. We review regularly so that if your consumption or energy prices are different from the estimate we’ll adjust your payments to avoid excess credit or debit.
How is the price of the Octopus Tracker calculated?
Prices for Tracker are made up of a unit rate (the price you pay for every unit of energy you use) and a standing charge, which is a fixed daily charge.
The unit rate is updated at midnight each day based on the latest wholesale price. Changes to standing charges are infrequent, and we’ll give reasonable notice of any changes coming into effect.
Within Tracker you can view daily updated forecasts of how we expect wholesale prices will change in the future. While we endeavour to make these as accurate as possible, like all forecasts they involve numerous uncertainties, and as such may differ materially from actual prices.
Electricity unit rates and standing charge vary depending on where you live.
Gas unit rates vary depending on where you live.
Gas standing charges are the same across all regions: 25.56 p/day.
Do you really expect people to look at all this data every day?
No – but the fact that you (or anyone else) can choose to look at it at any time means you can be certain that what we’re saying is verifiable. We do think it’s helpful to get a feel for a “normal” price – a bit like with petrol – so we expect many people will have a quick glance at the price quite frequently.
What happens if I want to leave?
You just choose a different tariff on your account page, email us or phone us up, or switch to another supplier. Switching to another Octopus Energy tariff is effective next day, switching to another supplier takes their usual time. There are no exit fees.
we are with octopus so will have to have a read of this. Energy prices are getting scary
LindaDancaster I'm with bulb too, it's a bit confusing. I don't understand if they will keep bulb as a separate company or join it with octopus.
The cost of energy companies is very scary, so we need to help each other in these difficult times. Thank you 
for sharing
Will have to have a look at this .Think Will read all the information but interested
I've just moved over to this tariff today - Thanks!
Don't forget if you know someone who is with Octopus and looking to move to them make sure you get your friend to recommend you. That way you both get £50 for signing up too.
They still aren’t letting people switch over, I’ve sent a few of my friends links and they don’t work
Really? How did you do it? I have a friend who has 2 houses and ones on octopus and they won’t let him move the other onto them
and not had any notification of this deal at all Whoever shared this, THANK YOU! My electricity has dropped down to 27p/kWh and gas is down to 6p/kWh down from 33p and 10p.
Took a few days of emailing octopus to get switched but I’m more comfortable having the heating on now it’s almost half the price.
Update: my energy today is 22p for electric and 5p for gas 
Still remains six months waiting, this information not correct. I signed up from December and my bill went down by 40%. This is cheapest by far at this moment
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