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Octopus Tracker is a smart tariff whose electricity and gas unit rates change every day. Instead, Tracker uses published wholesale market prices and a regional formula to calculate what customers pay. This guide was checked on 10 July 2026. Tracker prices vary by date and region, so any rate quoted today will soon be historical. Customers should use the Octopus app or account for the price applying to their home.
Tracker can be taken for electricity, gas, or both. Each fuel receives one unit rate for the whole day. This makes it different from Agile Octopus, where electricity prices change every thirty minutes. For electricity, Octopus uses the baseload average from the previous day's N2EX day ahead auction. For gas, it uses the relevant day ahead or weekend market price supplied by Marex. Octopus then applies a regional calculation that includes wholesale energy and other costs, including networks, environmental obligations, balancing, trading and metering. The current calculation for customers joining or renewing from 1 April 2026 differs across the fourteen electricity distribution regions. The formula and standing charge remain fixed during the customer's twelve month term, but the resulting unit rate changes daily.
There is no single national Tracker price. Rates differ by region because network costs and formula components are not identical throughout Great Britain. As an illustration, the April 2026 version in London was reported at 26.24 pence per kilowatt hour for electricity and 7.29 pence for gas. In North West England, electricity was 26.28 pence and gas was 7.07 pence. These figures included VAT. A single day does not reveal whether Tracker will be cheaper over a month or year. During early July, electricity rates moved considerably between days. Gas prices also changed, usually by smaller amounts. Future prices cannot be known from recent patterns.
Tracker is not protected by the normal Ofgem price cap that applies to standard variable tariffs. It has its own Price Cap Protect limit, currently set at 100 pence per kilowatt hour for electricity and 30 pence for gas. Those limits are far above the average capped rates for Flexible Octopus. They prevent unlimited daily prices, but do not make Tracker equivalent to a standard price capped tariff. A serious wholesale market shock could leave Tracker customers paying much more than households on Flexible Octopus. The Ofgem cap from 1 July to 30 September 2026 represents ยฃ1,862 a year for a typical dual fuel household paying by Direct Debit. That figure provides context only. Tracker does not follow the quarterly cap and the total bill depends on consumption.
Tracker is described as a twelve month fixed term tariff, but this wording can be confusing. The daily unit price is not fixed. What remains fixed is the method used to calculate it, together with the standing charge and maximum rate, for the tariff term. At renewal, Octopus offers the latest Tracker version. Its formula may contain different regional additions, multipliers, standing charges or maximum prices. Renewing means accepting the terms available then rather than extending the old calculation unchanged.
There is no monetary exit fee. Customers can request another Octopus tariff or switch supplier. A move to another Octopus product may take up to two weeks, so leaving is not necessarily an instant response to a sudden price increase. Anyone who leaves during the twelve month term must normally wait nine months before returning to Tracker. This discourages customers from moving onto protected tariffs during expensive periods and returning immediately when wholesale prices fall. The restriction does not apply in the same way when someone completes the full term and chooses not to renew. Customers should check their renewal communication before deciding.
A working smart meter is required to join. Octopus can connect to second generation meters and some first generation models. Tracker billing tries to use actual daily consumption because each day has a different rate. When readings are missing, Octopus may divide consumption between days using industry profiles that account for factors such as weather. Bills can therefore contain estimated daily allocations even when the total meter reading is known. An Economy 7 meter may need reconfigured to a single register before electricity can move onto Tracker. Tracker is a single daily rate tariff and does not provide a separate night price.
Tracker may suit households comfortable with changing prices and able to absorb occasional expensive days. It can appeal to customers who believe savings during calmer wholesale periods will outweigh shorter price spikes. Unlike Agile, Tracker does not require people to move appliances away from particular half hour periods. Using less energy on an expensive day may help, but every unit consumed that day has the same rate. That simplicity can suit homes wanting wholesale linked pricing without detailed scheduling. Octopus reported in May 2026 that Tracker customers had saved an average of ยฃ148 against its standard variable tariff over the previous twelve months. That is historical evidence, not a forecast or guarantee. Recent savings should never be mistaken for evidence that wholesale conditions will remain favourable.
A household with little financial flexibility should consider whether it could manage sustained prices above the standard cap. High consumption homes, electric heating users and people dependent on medical equipment may face greater exposure when wholesale prices rise. Customers who prefer stable budgeting may find a fixed tariff easier. Those able to control electricity use closely might compare Agile, while electric vehicle, heat pump, solar and battery owners should examine specialist tariffs designed for those technologies. Tracker can offer transparent access to daily wholesale movements, but transparency does not remove risk. The sensible comparison uses actual annual consumption, regional standing charges and several months of daily prices. Customers should keep enough account credit or budget headroom to withstand an expensive period.
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