Should I leave Octopus tracker?

jonnyblock

Been on it a few years now. Regular energy use for a family of four in a 3 bed semi with a combo boiler. Find the energy market very confusing. They put the DD up to £175 a month about 5 months back.

I see other companies do trackers as well now. Are they any better? Do the budget announcements yesterday mean I should wait or switch asap? Many thanks

Woodstok2000

'Regular' energy use is a bit broad. Do you know your actual energy use in kWh per month, gas and electric? Do you have solar? An EV?

jonnyblock

https://forums.moneysavingexpert.com/discussion/comment/82186125#Comment_82186125

Sorry, not sure on my usage.

We don't have panels and we don't have EV.

Double glazed and roof insulation.

Both parents work so not much usage during the day. Usual home appliances. Heat the house to about 19 degrees on winter evenings. Occasional electric heater in one room.

Woodstok2000

If you've got smart meters you can get tour usage data, or your account should have recent meter readings to give you an idea. You can plug that data into comparison sites to get a view of the best tariffs at the moment. Theres always an element of guesswork though - fixing now will cost more, but insures you against future rises for the duration. Not fixing will leave you open to price rises, bit you will benefit if prices fall.

QrizB

Sorry, not sure on my usage.

There should be an Estimated Annual Consumption figure available either printed on your bill or via your on-line account.

Or you can look at your meter readings from a year ago, and from today, and calculate the difference.

jonnyblock

https://forums.moneysavingexpert.com/discussion/comment/82186835#Comment_82186835

Looking on octopus app it says 2660 electric and 5690 for gas in the last 12 months...

I have someone offer me a referral code for £100 to switch to bulb...

jonnyblock

Weirdly we used a fair bit more in 2025.

3300 electric and 7100 gas

Maybe octopus is giving me 2026 so far?

Edit yes it is so I need to use my 2025 figures

jonnyblock

https://forums.moneysavingexpert.com/discussion/comment/82186837#Comment_82186837

Weirdly we used a fair bit more in 2025.

3300 electric and 7100 gas

Maybe octopus is giving me 2026 so far?

Edit yes it is so I need to use my 2025 figures

QrizB

Thanks for the figures.

I see other companies do trackers as well now. Are they any better?

Octopus Tracker is weird/unique in that it changes every day based on wholesale gas & electricity prices for that day. Most of the other "tracker" tariffs just follow the Ofgem cap up and down every quarter, with a bit of a discount vs. the official Ofgem prices.

The only other tariff I know of that does the "change every day" thing is EDF Freephase which gives you three different prices during the day - an overnight one (usually the cheapest), a daytime one (usually in the middle) and an evening one (usually the highest).

Do the budget announcements yesterday mean I should wait or switch asap?

The Budget is a bit of a red herring. Currently, wholesale energy prices are high and so Tracker is also high. Tracker Gas in particular has been above 10p/kWh for most of the month, occasionally 12p/kWh. Unless something happens to improve the availability of gas on the international markets, gas is likely to remain expensive all winter so you might want to look for a fix.

Tracker Electric is a bit more of a gamble If we have a windy winter, it could work out to be the best option on offer. But if we have a prolonged dull and windless spell (like we did last winter) it could get really expensive. If you're happy to take the risk, you might want to stick with Tracker. If a big increase in electricity prices would cause you problems, maybe look for a fix.

jonnyblock

https://forums.moneysavingexpert.com/discussion/comment/82186938#Comment_82186938

Thanks, I hate this lol.