Octopus Energy Tariff Guide

Octopus Energy has revolutionised the UK energy market in recent years with its diverse range of tariffs. Whether you’re looking for fixed rates, variable pricing, or cutting-edge electric vehicle tariffs, Octopus Energy has you covered.

In this comprehensive guide, we’ll discuss these unique Octopus Energy tariffs, helping you understand which option might best suit your needs. We’ll break down each tariff’s features, benefits, and ideal user profiles.

Discover how Octopus Energy’s tariffs can help you save money, reduce your carbon footprint, and take control of your energy usage.

Overview of the Best Octopus Energy Tariffs

Octopus Tracker: The Best Octopus Energy Tariff For People With Smart Meters

Octopus Tracker is an electric and gas tariff where prices change daily to reflect live wholesale prices. This sounds very complicated, but it really isn’t. Your price on Octopus Tracker will only update once a day, and you’ll be given 24 hours’ notice of what your prices will be for the following day. This transparency allows you to save money by adjusting your energy usage to lower-priced periods.

Crucially, as there are no exit fees (like every other Octopus Energy tariff), you can leave Octopus Tracker whenever you like, giving you complete flexibility.

How Does the Octopus Tracker Tariff Work?

The mechanism behind Octopus Tracker is something that hasn’t been seen in the energy market before. Octopus Energy purchases energy from the wholesale market a day in advance. They then add their operational costs and a small margin to determine the rates for the following day. Customers receive notifications about the upcoming day’s prices, allowing them to adjust their usage accordingly.

Who is the Octopus Tracker Tariff For?

This tariff is particularly beneficial for energy-savvy consumers who enjoy tracking market trends, as well as for flexible households that can shift their energy usage to lower-priced days. While it offers the potential for significant savings, it does require a certain level of engagement and comfort with price variability. Octopus Tracker is ideal for those who want to save money and value true transparency in energy pricing, which probably covers most of us!

I am on the Octopus Tracker tariff, and I never check the prices daily as it’s almost always cheaper than their standard variable and fixed tariffs. Instead, I just wait for my monthly statement and check what my average price per kWh has been for the last 30 days (this is something Octopus calculates and displays for you).

Do I Need a Smart Meter for Octopus Tracker?

Yes, you will need to have a smart meter to switch to the Octopus Tracker tariff. This allows Octopus Energy to accurately measure your daily usage and charge you accordingly.

Intelligent Octopus Go: The Best Octopus Energy Tariff For Electric Vehicle Owners

We’re going to get to the point straight away; Intelligent Octopus Go is the best electric vehicle tariff Octopus Energy offers. If your EV car or home charger are compatible with this tariff, then go for it. The other EV tariff I mention is a good alternative but only if you’re not eligible for this one.

How Does the Intelligent Octopus Go Tariff Work?

This Octopus Energy tariff uses smart charging schedules to stop and start your EV charger throughout the night, taking advantage of fluctuating wholesale costs. By giving Octopus this flexibility, you benefit from a guaranteed night price of 7.5p per kWh between 23:30 and 05:30. Additionally, anything else you use during these times – not just the car charger – will also be charged at this lower rate.

Your day rate will depend on your region, but this is usually about the same as the day rate on their standard variable rate tariff.

Another great feature of this tariff is that Octopus still gives you control. You decide when you want your car charged by and how much; Octopus just manages the timing to optimise their costs. This way, you get the savings without the hassle.

As I mentioned, your EV car or charger needs to be compatible with Octopus’s systems for the smart charging feature to work. If you have an Audi, BMW, Chevy, Jaguar, Mini, Porsche, Tesla or Volkswagen then it should be fine. If you don’t own an EV from one of these brands but you do have an OHME charger, then Octopus can connect to that device instead.

If your set up is not compatible yet, Octopus will add you to a call list and contact you when it does become available. In the meantime, I would recommend going onto Octopus Go.

Do I Need a Smart Meter for Intelligent Octopus Go?

Yes, you need to have a smart meter for Intelligent Octopus Go to work. This allows Octopus Energy to accurately record your energy usage during the night, ensuring that you are charged at the lower rate.

Octopus Go: An Alternative Octopus EV Tariff

Octopus Go is an alternative tariff to Intelligent Octopus Go if your car or charger are not compatible with their smart charging systems.

How Does the Octopus Go Tariff Work?

Rather than using smart charging schedules controlled by Octopus, you are given a guaranteed nighttime price of 9.5p per kWh between 00:30 and 04:30. It is then your responsibility to set your own charging schedules up so that your car charges between these hours.

Again your day rate will depend on the region you live in, but this will be similar to the day rate on their standard variable tariff.

Do I Need a Smart Meter for Octopus Go?

Yes, you will need to have a smart meter installed before switching to Octopus Go, as Octopus Energy requires half-hourly meter readings for this tariff to function properly.