Is Octopus Tracker still worth it?
Since its launch in May 2017, our Tracker tariff has built a bit of a cult following. Customers love the transparency – being able to see tomorrow’s energy prices today – and the flexibility it gives them to shift their energy use to greener, cheaper times.
Most importantly, they love the bill savings: Tracker's market rates saved customers, on average, £320 in 2024 vs Flexible Octopus, our standard variable tariff.
But with energy prices on the rise, is Tracker still a smart choice? This blog gives the latest information on Tracker and the energy market to help you decide.
Quick recap: What is Tracker?
Tracker was the UK’s first tariff to truly follow wholesale energy prices. Unlike standard tariffs, where prices are locked in months ahead, Tracker moves with the market – updating daily to reflect the real cost of energy. That means when wholesale prices drop, so do your bills. It's especially useful if you can be flexible about when you use energy.
Over the years, we’ve had amazing feedback from die-hard fans who’ve significantly cut their bills, with real-time prices sometimes 30-40% cheaper than standard tariffs. But it’s not just about savings, tariffs like Tracker (and sister tariff, Agile) are part of a bigger picture.
These tariffs play a crucial role in helping us build a smarter, more sustainable energy system. By shifting energy use to times when there’s more renewable power, customers help make the grid greener. So it’s thumbs up from the planet too!
Why are the rates higher at the moment?
Tracker can mean big savings, but there’s a flip side: because it follows wholesale prices in real time, rates can spike unexpectedly (although they're capped, so they'll never go higher than 100p for electricity and 30p for gas). That’s not ideal if you can’t easily shift your energy use – and currently, energy prices are on the rise.
This April, Ofgem confirmed the price cap is set to increase by £111 for a typical home – frustrating news for customers already feeling the squeeze from previous hikes.
Why have wholesale energy costs increased? Here are a few reasons:
- Global events: Energy prices are heavily affected by what’s happening around the world. Russia, the biggest gas exporter, is still at war with Ukraine, and tensions in the Middle East have added to the instability – pushing prices up worldwide.
- The weather: January 2025 was colder than the 10-year average in the UK, meaning people used more gas at a time when supplies were already tight across Europe. This extra demand puts even more pressure on prices.
- Market volatility: When energy prices jump around a lot, it’s riskier for suppliers. To protect themselves, they factor this risk into their prices, making bills higher.
What does this mean for Tracker?
Rising wholesale prices mean Tracker rates have also crept up recently – sometimes even higher than our fixed and flexible prices. Although they haven’t reached the maximum daily unit rate of 100p/kWh for electricity and 30p/kWh for gas.
And looking ahead? It’s unlikely we’re going to see any meaningful shifts in the wholesale energy market anytime soon. According to our price cap predictions, it looks like prices might fluctuate a little, but not enough to make a significant difference to people’s bills (£50+/- difference from April rates).
So, the big question: is Tracker still worth it?
It's a bit of a mixed picture. To really understand Tracker's value, we need to look at the average unit rates and how these have been changing over time. This gives a clearer idea of how Tracker has performed, which matters more than any short-term price spikes.
Here’s how Tracker rates compare to Flexible Octopus:
Over the past 12 months, the average Tracker rates have been 21.07p/kWh for electricity and 5.18p/kWh for gas, while Flexible Octopus rates averaged 24.1p/kWh for electricity and 6.03p/kWh for gas.
This made Tracker much cheaper than our standard variable tariff - ‘Flexible Octopus’ - saving an average customer £150 over the year (12th March '24-'25). The Tracker electricity rate was cheaper 319 days out of 2024 and gas for 328 days compared to ‘Flexible Octopus’.
Tracker rates have also dropped as low as 11.59p/kWh for electricity and 3.9p/kWh for gas at times – showing just how much customers can save by shifting their usage in line with the price dips.
With the announcement of the April price cap, Flexible Octopus rates are expected to increase to 27.03p/kWh for electricity and 6.99p/kWh for gas (inc VAT). So, if Tracker prices remain at a similar rate, it could end up being a cheaper deal in the long run.
Summer is also on the way, when Tracker tends to perform best. During the warmer months, there’s usually plenty of renewable energy on the grid, which is great news for Tracker’s price dips. Shifting your usage away from peak times can lead to big savings.
Try our Tracker portal
See historical Tracker prices and average rates over time. If you're not on Tracker, you can also see how much you'd spend on Tracker vs your current tariff by hitting 'compare your consumption'.
You need:
- Your Octopus account number
- Your API key (every customer is issued one and you can find yours in your account under 'Personal details')
- You may need some meter details, like your MPAN or serial number – to find these, scroll down on your Octopus dashboard to the meters
The bottom line?
Tracker has some awesome perks that set it apart from other tariffs. While rates might be a little higher right now, it can still offer great value if you’re able to shift your energy use and make the most of price dips.
Ultimately, it comes down to what suits you best. If you don’t mind riding the ups and downs for the chance to pay less over time, Tracker could be still be a great fit. If you’d rather have price certainty: our Fixed or Flexible might be a better shout!
And the best bit? There are no exit fees, so if you find Tracker isn’t right for you, you can change tariffs at any time in your account under ‘change my tariff’. Heads up: if you leave Tracker mid-contract, you won't be able to come back for 9 months. If you roll onto a different tariff after your Tracker tariff ends, you can rejoin anytime.
But TBH? You might be like Julia, and miss the thrill...
Published on 12th March 2025 by:
Hey I'm Constantine, welcome to Octopus Energy!
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