Octopus Tracker — Daily Wholesale-Linked Tariff Reviewed
Tracker is the wholesale-linked tariff that doesn't make you watch 48 prices a day. One price for electricity, one for gas, set each morning at 10am based on yesterday's wholesale market. In low-wholesale periods it's the cheapest mainstream tariff in the UK. In winter spikes, it bites hard.
In one sentence
Single daily rate for gas and electricity. Cheaper than the cap most of the year, painful during winter wholesale spikes.
Current rates
Indicative Octopus Tracker rates. The date these were last checked was not recorded, so treat them as illustrative and confirm current prices with Octopus. Rates update daily at 10am. Daily caps: 100p/kWh electricity, 30p/kWh gas.
| Region | Unit rate | Standing charge |
|---|---|---|
| Electricity (typical) | 18p–28p/kWh (avg ~22p) | ~50p/day |
| Electricity (winter spike) | 30p–60p/kWh on peak days | ~50p/day |
| Gas (typical) | 4p–7p/kWh (avg ~5.5p) | ~33p/day |
| Gas (winter spike) | 10p–25p/kWh on cold snaps | ~33p/day |
What Octopus Tracker actually is
Octopus Tracker is a daily-variable tariff for gas and/or electricity. Each day at 10am, the next 24 hours' price is published in the Octopus app, calculated from the previous day's day-ahead wholesale market plus operating costs and policy fees.
Unlike Agile there's only one price per day — you don't need to think about when you use power, just whether you want to use it today. Unlike the standard variable, the price reflects wholesale moves in days, not months.
There's a daily cap of 100p/kWh for electricity and 30p/kWh for gas. You need a SMETS2 smart meter for both fuels you take on Tracker.
Pros
- Across a full year, Tracker has historically beaten the Ofgem cap by 15–25% (Octopus publishes the data).
- Covers both gas and electricity — rare among innovative tariffs.
- Simpler than Agile — one price per day, no half-hourly scheduling.
- Transparent: you can see how the formula is built and verify the daily price yourself.
- No exit fees, switch back any day.
Cons
- Winter spikes can push gas to 25p–30p/kWh — well above the cap.
- Bills are unpredictable on a month-to-month basis.
- Requires SMETS2 smart meters for both fuels — install can take weeks.
- Not currently open to all new applicants — Octopus opens and closes signups based on capacity.
- Standing charges follow the cap, so big savings only come on unit rates.
Who Octopus Tracker suits
- Households who want lower-than-cap pricing without time-of-use complexity.
- Anyone with gas heating who wants tracker pricing on gas (Agile and Go are electricity only).
- People who can tolerate price swings on a weekly horizon for a 15–25% annual saving.
- Customers comfortable with the app and willing to glance at tomorrow's price each morning.
Who should avoid it
- Households on a tight monthly budget — bills swing with the wholesale market.
- Anyone who'd panic if gas hit 25p/kWh during a January cold snap.
- Customers without a smart meter or unwilling to wait for one.
- People who want fixed-price certainty for 12 months — get a fixed tariff instead.
Worked example: dual fuel household, 2,500 kWh elec / 9,500 kWh gas
A typical Great Britain dual-fuel household uses 2,500 kWh of electricity and 9,500 kWh of gas (Ofgem TDCV, from 1 July 2026). At the current cap rates of 26.11p elec / 7.33p gas, unit charges total ~£1,349 before standing charges. Illustrative estimate based on the assumptions shown.
On Tracker with average pricing (~22p elec / ~5.5p gas), the same household pays ~£1,227 — a £250 saving.
But during the 2022 wholesale spike, the same household on Tracker would have paid ~£2,100 in winter alone. The standard variable, capped by Ofgem, would have been ~£1,650. Tracker rewards customers in normal markets and punishes them in crises.
Work out your own numbers on Octopus Tracker
- Heating with electricity? Cost each heater per hour, day and year with the electric heating running cost calculator using this tariff's unit rate.
- Want to move appliances into the cheap window automatically? See our review of the Hive Active Plug for scheduling flexible load into the cheap window.
- Charging an EV overnight? Compare this with the Octopus Go tariff review and its 00:30–05:30 off-peak window, or work out your costs with the EV charging cost calculator.
Safety first: UK fire services advise against running washing machines, tumble dryers or dishwashers while you are asleep or out of the house. Shift flexible load such as EV charging, hot water or storage heating into the cheap hours instead, and follow your appliance manufacturer's instructions.
How to switch to Octopus Tracker
- Check Tracker is open to new signups — Octopus opens and closes based on capacity. Sign up to the waitlist if closed.
- Confirm you have working SMETS2 smart meters for both fuels you want on Tracker.
- Apply at octopus.energy/tracker. Approval typically takes a few days.
- Switch takes 14 days. Until active, you stay on your old tariff.
- Set a daily app check — Octopus pushes tomorrow's prices each morning. If you see a spike coming, plan to use less.
- Review after 3 full months including at least one cold week. If winter pricing scares you, switch back — no exit fees.
Independent review. PowerGuardian is not affiliated with Octopus Energy. Rates shown are indicative for Octopus Energy's Octopus Tracker tariff at the time of review — check the supplier's website for current pricing before signing up.