Last updated: 29 March 2026
By Stiv · Design, technology and personal finance
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The Octopus Tracker tariff explained in plain English: it's a smart energy deal where your unit rate changes daily based on wholesale market prices. Unlike standard variable tariffs capped by Ofgem, Tracker follows the market more closely. As a result, it can dip below the price cap when wholesale costs are low, but it can also climb higher during volatile periods.
Quick summary
- Unit rates change daily based on wholesale costs.
- Standing charges stay fixed (reviewed every three months).
- Price Cap Protect limits: 100p/kWh electricity, 30p/kWh gas.
- No exit fees, but you can't rejoin for 9 months if you leave early.
- Requires a SMETS2 smart meter (or certain SMETS1 models).
If you're comparing Octopus switching routes and want the current sign-up credit, keep referral details centralised here: Octopus Energy referral guide.
Tempted by Tracker?
Our Octopus referral page keeps the current new-customer credit and joining steps in one place.
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