Octopus Tracker Tariff is it still worth it?

With the January 2025 Energy Price Cap rising by 1% and fixed rates offering some protection from further predicted price cap increases in April 2025, is the uncertainty of the Octopus Tracker tariff still worth the risk this winter? I will attempt to give you my opinion as an existing Octopus Tracker tariff customer.

The Octopus Tracker tariff is the only energy tariff in the UK that truly follows wholesale energy prices. Every day Octopus updates the price you pay for your electricty and gas using a preset formula. The formula and the standing charge remain fixed for 12 months but the rates change daily depending on wholesale energy prices.

Understanding the Octopus Tracker Tariff: How It Works and How It Differs from the Energy Price Cap

The Octopus Tracker tariff differs because it’s not linked to Ofgem’s Energy Price Cap. Instead, it’s directly tied to real-time wholesale energy prices, which change daily at midnight. This means the price per kWh with the Octopus Tracker tariff fluctuates based on the global energy market. If wholesale prices go up today, you’ll see an increase almost immediately, but you’ll also benefit when prices drop.

In contrast, Ofgem’s Energy Price Cap is updated every three months and is based on past wholesale prices, not current ones. For example, the January 2025 price cap increase reflects prices from September to November 2024. This period of assessment for the January Energy Price cap has now ended and today’s wholesale prices will be used to set the April 2025 price cap.

What to Expect as a Tracker Tariff Customer.

If you’re on the Octopus Tracker tariff, it’s important to pay attention to future wholesale energy price predictions rather than relying on the Ofgem price cap. For instance, higher wholesale prices this autumn have resulted in a 1% increase in the January 2025 price cap.

Looking ahead, analysts are predicting a further 3% increase in the price cap for April 2025, reflecting the slightly higher prices now being felt on the wholesale market. It’s the predictions for April you should look at in order to assess how the tracker tariff may perform now.

Keep an eye out for an Octopus Tracker tariff formula change. 

Octopus use a formula to work out the price you pay on the Octopus Tracker tariff. As you take on more of the risk of buying your energy as it fluctuates each day Octopus passes on some rewards.

On the 31st of December 2024, Octopus launched the December 2024 v1 of the Octopus Tracker tariff. If you switch to Octopus Tracker after the 30th of December or if your fixed period ends, you will go on to the latest version of the Octopus Tracker Tariff, December 2024 v1.

Thankfully the formula used on December v 1 of the Octopus Tracker tariff results in the price you pay for your electricty and gas being slightly cheaper than the previous version.

How much will I pay on the Octopus Tracker tariff?

If you switch to the Octopus Tracker tariff now or if your tracker tariff is up for renewal after 12 months you will be on December 2024  v1 of the Octopus Tracker tariff.

Octopus Energy Tariffs in South Wales (1st January to 31st March 2025)

Flexible Tariff:

• Electricity:  24.49p per kWh, with a standing charge of 62.06p per day
• Gas: 6.45p per kWh, with a standing charge of 29.77p per day.

Tracker Tariff (December 2024 v1, 19th January 2025)

• Electricity: 27.13p per kWh, with a standing charge of 62.06p per day.
• Gas: 6.72p per kWh, with a standing charge of 29.77p per day.

Choosing the right Octopus energy tariff can seem complicated, especially when rates fluctuate. Here’s a brief comparison of Octopus Energy fixed, flexible and tracker tariffs in South Wales as of the 17th of January 2025, to help you decide which might suit your needs best:

• Flexible tariff: Cheaper than the Octopus Tracker tariff today.
• Octopus 14 Months Fixed: Cheaper than the Flexible Tariff providing stability for the year.
• Tracker Tariff: Consider the average monthly kWh price, not just the daily rates.

What the future might hold in 2025 for the Octopus Tracker tariff.

I think the Octopus Tracker tariff is still worth switching to as long as you are not scared of risk. We have already been through the wholesale prices that have caused the 1% increase on the January 2025 price cap and all versions of the Octopus tracker tariff have on average faired well against them. There is another predicted increase of at least 3% for the price cap in April 2025 and we are experiencing those prices now.  Yet despite the increase you can still save money on the Octopus Tracker tariff compared to the Octopus Fixed or the Octopus Flexible rates but it is getting tight for gas!!!

@sarah_go_green Replying to @Ali Hussain @Octopus Energy ♬ original sound – sarah_go_green

As long as you are prepared to hold your nerve and watch prices the Octopus Tracker tariff could be a fairly easy way to save money on your energy bill this winter. However, nothing is certain and there are several factors such as the conflict in the Middle East and the planned maintenance work for some pipelines that you need to take into consideration.

Predictions indicate a possible fraction of a percentage price reduction in the Energy Price Cap in July 2025 and the Octopus Tracker tariff will feel this downward trend first during the March to May 2025 Ofgem assessment window.

Octopus Tracker tariff price spikes.

Over the last two weeks, prices have spiked. It is all to do with high gas prices and not a lot of wind. There is a bit less nuclear than usual and imports and running lower. You have to look at the average unit price that you are paying before deciding if to stick or twist with the tracker tariff.

I often get asked what I would do but this is so personal as you could well get gambler’s remorse from switching away for the security of a fixed tariff and then discovering prices have settled down. Remember it is the overall average unit price that matters not the random one-off price spikes that may nudge your average rate up but it won’t necessarily make it more than a tradional Octopus tariff.

You can hop off the Octopus Tracker anytime but can’t return for 9 months. If you’re into making savings following wholesale rates again, try the Octopus Agile for electricity. You don’t need the same tariff for gas and electricity, you could fix your gas for 12 months while keeping your electricity on the Tracker tariff. Just contact Octopus to sort it out.

Will the Octopus Tracker tariff formula change in January 2025?

On the 31st of December 2024, the Octopus Tracker tariff formula changed and it became slightly cheaper than the previous version October v1. However, the standing charge changed and the electricty went up so it is now in line with all the other Octopus tariffs.

No one knows if or when the Octopus Tracker tariff formula will change again in 2025. If you switch to the tariff you will remain on your current formula for 12 months. This element of the tracker tariff is fixed along with the standing charge.

I suspect Octopus reduced the formula prices ready for January 2025 as the Tarcker tariff has always been marginal in terms of profit yet its popularity is increasing. It gives customers the benefits of short-term dips when there are lots of renewables on the grid but unlike Octopus Agile it’s much simpler to manage as there’s just one flat rate for the day.

Now that more customers are switching to smart tariffs and are becoming more prepared to change when they use energy to get cheaper rates I suspect Octopus want to make greener tariffs such as Octopus tracker tariff more attractive.

Is the Octopus Tracker Tariff still worth switching to?

When Octopus updated the formula of the Octopus Tracker tariff in October 2024 I first thought that the increase in the formula combined with the recent wholesale energy price rises would make the Octopus Tracker tariff more one to watch than to switch to.  The rates for gas have been so close to the Octopus Flexible rates that the risk of price increases I thought would deter customers from switching especially when the Octopus Fixed tariff has quite competitive rates right now.  However, there is an appetite to beat the system and I have noticed more of a determination to stick with the tracker tariff than expected

Now that the Octopus Tracker tariff has had the price of its formula lowered it’s going to be even more attractive hopefully in 2025. We just need gas wholesale prices to start falling!!!

The Octopus Tracker tariff can be great, but you need to watch for sudden price spikes. You should check if switching to a fixed or standard tariff makes sense, but you don’t need to decide quickly. Focus on the monthly average cost for gas and electricity, not daily rates.

So, yes the Octopus Tracker tariff could still work out cheaper than the January 2025 Energy Price Cap but it does feel more of a gamble than a certainty in respect of the gas element.

It is easy to switch away from the Octopus Tracker tariff. You simply email hello@octopus.energy but remember you can’t go back to the tariff for 9 months.

About the author:  I’ve Been a Happy Octopus Energy Customer for 6 Years.

I’m Sarah, and as a mum of 3 daughters, I want to save money and do right by the planet. This led me down a rabbit hole of researching tariffs, smart meters, and renewable options.

You can find me on X and TikTok where I connect with around 10,000 followers looking for practical ways to electrify their homes and reduce energy bills.

Feel free to follow me Sarah_Go_Green and join the conversation – I’d love to hear from you!

I’m also featured on the Octopus website and their YouTube channel as a solar customer. I’ve been on BBC News, and Radio Wales, published in the Telegraph for owning part of a wind turbine and had a feature in Bloomberg.

I genuinely want to help you understand your options and make smarter energy choices. It’s that simple, I have become very geeky about my home energy and I can help you too.

Another post by Sarah you may find of interest;

• Full Octopus Agile Review.
• Intelligent Octopus Go – The most popular EV tariff in the UK.
• Are Octopus energy prices going down?
• To fix or not to fix your energy tariff with Octopus Energy.

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Lock in Savings: Secure a Cheaper Octopus Energy Tariff Before April 2025 Price Cap Rise.

Are you on a standard variable tariff, with Octopus Energy this is the Octopus Flexible tariff?  If so sadly you will need to brace yourself for another price increase as the price you pay per kWh for gas and electricty is predicted to go up on the 1st of April 2025.  However, there is hope as there are some easy ways to reduce your home bills by picking the right tariff now. Let’s start by looking at the Octopus Energy 14-month Fixed tariff (January 2025 v1) which has no exit fee.

I’m Sarah, and I’m passionate about slashing home energy costs. Since switching from British Gas to Octopus Energy seven years ago, I’ve become a super geek in navigating Octopus Energy tariffs to save money and reduce my carbon footprint.  Here’s how you can too:

Fix Your Rates: Lock in lower prices now to avoid future increases.

Switch Smartly: Explore how switching tariffs can lead to significant savings. It is an easy strategy that gives you peace of mind with no fuss. Octopus Energy has no exit fees meaning you can hop to cheaper rates when they become available.

Stay with me to learn how to make your home energy use smarter, cheaper, and greener!

Is Octopus Fixed tariff worth it?

Yes, the Octopus Energy Flexible tariff will go up on the 1st of April 2025 so it is worth fixing. The question is how much more will you pay?

The Octopus Flexible tariff follows the Energy Price Cap which is updated quarterly. It will next change on the 1st of April, 2025, with the new rate announced by Ofgem in mid-February 2025.

We’re over two-thirds through Ofgem’s assessment period for the April- 2025 Energy Price Cap. The average daily wholesale prices from the 18th of November to the 17th of February  2025 are used to set the April Price Cap.

Analysts predict the Energy Price Cap could rise by 3% to 5% in April 2025. By fixing your energy tariff now, you could save significantly. The Octopus 14-month fixed tariff is currently 2.5% below the January 2025 Energy Price Cap, and new customers can receive an additional £50 credit, equating to a 2.9% discount. This means your effective savings could jump from 5.4% to potentially 10.4% by locking in before April’s increase

If you secure a fixed rate up to 2% above the current Jan-Mar Price Cap, you’re expected to save money over the year compared to remaining on the Price Cap according to analysts.

Martin Lewis warns that 80% of homes are already paying on the Price Cap v a cheaper fixed tariff.

Should you fix your energy bills? 80% are on the price cap, you can fix now at 7% less than it (find cheapest at https://t.co/4ikTwuGFTQ) what counts is will the price cap rise, watch this…

Watch my full BillBuster show at https://t.co/cfeX6FnsPP pic.twitter.com/wvWl6BwFpB

— Martin Lewis (@MartinSLewis) January 15, 2025

On 14th January 2025, Martin Lewis warned consumers against overpaying for energy. He pointed out that 80% of households are on the Energy Price Cap, which he called the “pants cap,” suggesting that many are already paying more than they need to.  You can see this broadcast on ITVX.

If you aren’t a person who likes a bet my advice would be to take the Octopus 14-month fixed tariff now. It is a sure win with no exit fees. You feel you have to look for the catch but there isn’t one. You can lock in a cheaper rate now and if predictions are wrong you can switch to another tariff and it won’t cost you a penny.

Is it time to switch to an Octopus Energy Fixed tariff?

If you’re hesitant about choosing an energy tariff due to fear of being locked into higher prices, Octopus Energy offers a solution that balances cost savings with flexibility. Here’s why you should consider switching to the Octopus Fixed Tariff:

• No Exit Fees: One of the major concerns with fixed tariffs is the fear of being stuck with rates that might not be the best in the future. Octopus Energy eliminates this worry by imposing no exit fees on its current fixed tariffs. This means you can switch to a different tariff if a better deal comes along you can simply contact customer service or use your online dashboard to switch tariffs.
• Cost Efficiency: Since July 2024, the Octopus Fixed Tariff has consistently been cheaper than the Energy Price Cap. Each time a new price cap is announced, the fixed tariff rates have been below these caps. A fixed-rate safeguards against rising energy costs. Opting for the fixed tariff could lead to savings over time and prices are predicted to rise in 2025.
• Flexibility: If the market unexpectedly drops, and the Octopus Flexible tariff becomes cheaper, you can switch back without any financial penalty. This flexibility makes it a low-risk option for anyone looking to save on energy bills.
• Real User Experience: I have over 5,000 followers on TikTok gained by sharing my experiences of switching tariffs. You can hop between Octopus fixed tariffs when better deals are available. Having control over your energy expenses without the usual commitment of tariffs that lock you in is a win.

Energy Price Cap vs Octopus Fixed tariff.

If you stay on the Energy Price Cap predictions are that you will be paying more than you need to throughout 2025 compared to fixing with Octopus now.

Here is a quote for the current Octopus 14-month fixed tariff. Based on typical use you would save around 11p per day between now and the 31st March 2025.  It might not sound like much this will increase when the flexible rate goes up in April 2025 and possibly again later in the year. All these extras add up and it is money you don’t need to give away.

You would save around £40 based on this quote, however, the flexible rate will go up in April by between 3% and 5% and it’s not set to fall to current rates throughout 2025.

If prices increase as predicted in April 2025 and again in October 2025 those savings will be greater. Why would you give that away when you can take the lower price with no contracted exit fee? Taking an Octopus fixed tariff isn’t just safe and easy, it’s financially smart. Remember you can get a £50 credit as a new Octopus Energy customer too using my referral link.

In conclusion, don’t let the fear of commitment to a tariff prevent you from saving money. With Octopus Energy’s no-exit fee policy, you have both the savings and the freedom to adapt to market changes. Make the switch, and enjoy peace of mind with your energy bills.

Why Switch to Octopus Energy?

I’ve been an Octopus Energy customer for 7 years and can confidently say switching to them was a great decision. They bring a refreshing approach, focusing on exceptional customer service and pushing the boundaries with innovation in the energy sector.

I’m not alone in this choice. According to recent data, a significant number of customers are also making the switch to Octopus Energy. Here’s a graph illustrating this trend:

[Graph Showing Customer Switch to Octopus Energy]

This visual speaks volumes about the trust and preference customers have for Octopus Energy over other providers.

You may be interested in Sarah’s blog posts;

• Compare Octopus Energy Tariffs
• Octopus Tracker tariff is it still worth it?
• Octopus Energy Heat Pump offer.

Tesla UK Referral Scheme 2025

If you are lucky enough to be an existing Tesla owner in the UK, you can share your Tesla referral link or your Tesla referral code and earn Tesla credits. The person you are referring will either get a £500 discount off a new Tesla or a £500 credit towards Supercharging or accessories, depending on how they purchase the vehicle.

The referral scheme was relaunched on 27th November 2024, and the £500 discount now only applies to Tesla vehicles purchased via cash or a loan. Anyone leasing a Tesla through a personal or business contract will receive £500 towards Supercharging or accessories.

• £500 off of your vehicle price (Cash or Loan) or
• £500 towards Supercharging or Accessories (Personal/Business Contract Hire)

Plus if you take delivery of a Tesla Model Y before the 31st December 2024 you will get one year of free supercharging on top of the Tesla referral discount.

I am sharing my friend David’s code as I have already recommended 10 people this year. Dave was very supportive and full of advice when I first mentioned I wanted to buy a Tesla and even offered to pop down to my collection point if I needed any help. If you use his code, I would be most grateful.

Charge into Rewards with a Tesla discount code.

Word travels fast when you’re passionate about something because nothing speaks louder than a personal recommendation. That’s why Tesla doesn’t pay for advertising. Instead, they incentivise customers to share their experiences and Tesla referral codes.

The Telsa referral scheme is back!

Buying a new Tesla Model Y or Model 3 in the UK.

• If you buy a new Tesla Model Y or Model 3 using a Tesla referral you will get £500 discount/accessories or Supercharging.
• If you buy a new Tesla Model S or Model X using a Tesla referral you will get £500 discount/accessories or Supercharging.

• If you refer someone who buys a Tesla Model Y or Model 3 you will get £250 in Tesla credits. (This can be exchanged for Supercharging miles. software upgrades, merchandise, service payments or discounts off a new Tesla. )
• If you refer someone who buys a Tesla Model SA or Model X you will get £250 in Tesla credits. (This can be exchanged for Supercharging miles. software upgrades, merchandise, service payments or discounts off a new Tesla. )

If you buy any Tesla vehicle or solar PV outside of the UK.

If you are outside of the UK you can also use my Tesla Referral Code to purchase your new Tesla or a Solar Roof in a country where Tesla accepts orders. The Tesla referral rewards credits may vary from country to country. You need to change your location on the Tesla website when you click through as you will land on the UK version of the Tesla website using my Tesla Referral Link. 🇬🇧

How to use my Tesla Referral Link?

When you buy a new Tesla Model 3, Model Y, Model S or Model X using my referral link, we will get a discount on your new Tesla and I will earn Tesla Referral credits. 💚

To purchase with my referral link:

1. Click on my Tesla referral link.
2. Purchase your new Tesla via the referral link.
3. Tesla will discount your new Tesla.

• Tesla Model 3 – Referral Link (£500 discount/supercharging or accessories.)
• Tesla Model Y – Referral Link (£500 discount/supercharging or accessories.)
• Tesla Model S – Referral Link (£500 discount/supercharging or accessories.)
• Tesla Model X – Referral Link. (£500 discount/supercharging or accessories.)

If you buy a new Tesla you will receive £500 discount or get £500 worth of free supercharging or accessories if you lease. If you refer someone and they buy or lease a new Tesla £500 discount (previously known as loot point credit) will be allocated to your Tesla order. Once you have your own account you can start referring people too so you can build up your credit.

Check out the Tesla Inventory because there may be vehicles ready to be collected now. Just enter your postcode.

If you are outside the UK you can simply switch to an alternative country on the Tesla website and still claim a discount on a new Tesla or you can just use my Tesla referral code Sarah583995 anywhere in the world.

How do I get a Tesla Referral Link?

If you own a Tesla to find your Tesla referral link just go into your Tesla app.

• Click on the icon that looks like a cube next to your profile picture in the top right-hand corner. The Tesla Referral Rewards will then appear on the screen.
• Tap the blue button at the bottom of the screen to share your Tesla Referral link. You can share your Tesla Referral link directly in a text message or email from this screen.
• The Tesla Referral Rewards section of the Tesla app will also show you the number of will credits you have and allow you to exchange your look credits for Tesla goodies.

How do I redeem Tesla Referral Credits?

When someone has bought a new Tesla using your Tesla discount code you can access and redeem the credits in your Tesla app.

• In the top right-hand corner click on the Tesla the three lines in the top right of the screen.
• Click on your profile image and then click “wallet”.
• From here you can view your Tesla referral credits.

• The Tesla Referral credits will show as pending in your referral history on the app until the new Tesla is delivered.
• On collection/delivery day the referring Tesla owner will have an update in their Tesla app and the credits will show are available to redeem.
• Tesla credits are valid for 12 months. (Once redeemed Tesla Supercharging miles are valid for 6 months.)

What can I exchange my Tesla Referral Reward Credits for?

Tesla Supercharging miles are the obvious way to spend your Tesla referral credits. There’s something quite exciting about fueling your Tesla for free!

You can also exchange your Tesla credits for a variety of lifestyle products, Tesla accessories, software updates and servicing.

Can I use a Tesla referral code at a Tesla showroom?

Yes, you can use a Tesla Referral discount code at a Tesla showroom. If you buy a new Tesla in store just give the Sales advisor my Tesla discount code, Sarah583995.

This is what Tesla UK have to say about their new Loot Box.

Our goal is to help Tesla owners share their passion for Tesla’s products and our mission — to accelerate the world’s transition to sustainable energy. As an owner, every time you bring a new friend or family member into the Tesla community, you and your friend both earn credits — you earn Referral Credits and your friend gets a discount on a new Tesla.

Is the Tesla Referral Scheme still active in the UK?

Yes, the Tesla Referral Scheme was suspended in April 2024. It relaunched in the UK on the 5th of September 2024 and the UK.  The Tesla Referral Scheme has been changed a few times already since September but not after the 27th November 2024 update a £500 discount is either applied to all new Tesla sales or a £500 credit for supercharging or accessories will be added for new lease deals.

On the 1st of January 2025, Tesla changed the rewards for Tesla owners referring new Tesla customers to £250 but the £500 discount still applies to the new vehicle discount. Simply the referring person gets less credit for the introduction.

Can you add a Tesla referral code after placing an order?

Tesla doesn’t allow you to add the referral code after you have placed the order. You can read the full terms of the Tesla referral scheme on their website.

How easy is it to buy a Tesla online?

I bought my Tesla Model Y online and both the ordering and collection were amazing. It was so straightforward and required almost no human contact. I can highly recommend a Tesla it just keeps getting better with over-the-air updates.

Finding your Tesla VIN number early.

At the moment this isn’t so much of an issue as there is stock available but if you order a new Tesla and want to find out when it is on its way from the factory you can check for a VIN number. Once this is allocated to your Tesla account it means it’s on the ship heading to the UK.

I highly recommend this Tesla VIN Code Extention which can be used on a Chrome browser because it worked for me. It searches your Tesla account and finds the VIN in the source code even before it is openly displayed.

Ready, Set, Tesla – Collection Day.

There was a storm the day I picked up my Tesla Model Y and I was extremely nervous. I used this app to run through everything I needed to check but due to the rain, I skimmed through the list. It is important to remember that you have 72 hours to report any issues to Tesla and even return the vehicle if you feel it is necessary.

Handover of your new Tesla involves minimal human contact (which I like) so it is helpful if you do some prep if you have never driven an EV or test driven a Tesla.

I found watching walk-through videos on the Tesla website before collection helpful and after I attended a free Zoom online orientation which is still being offered by volunteers at Tesla Owners UK.

Tesla Owners UK don’t put any pressure on you to sign up and you don’t need to be a member to attend the online event. I had my camera off, listened, and asked a few questions in the chat box. The session was very useful. Keep an eye on the Tesla Owners UK website for future dates.

If you would like any further hints or tips just take a look at my TikTok Channel. You can also message me via DM on Twitter or TokTok plus you’ll find me at SarahGoGreen.com.

The first 3 things to do as soon as you have collected your new Tesla.

I have been playing TikTok mainly to annoy my daughters. What could mummy possibly have to say?  Well, here are my tips on what to do as soon as you get your new Tesla. (I am sure that will make them cringe 🤣)

@sarah_go_green If you are buying a new #Tesla these are the 3 things i would update urgently. I own a #modely. They add security and personalisation. #teslahacks ♬ Pieces (Solo Piano Version) – Danilo Stankovic

Is there a Tesla Discount Code for buying a new Tesla?

Yes, you can get a $2000 discount on a new Tesla in the USA but £500 discount in the UK. The offer can also be used throughout the world. Tesla incentivises existing Tesla owners to spread the word about Tesla and in turn, you can get a discount on a new Tesla.

My Tesla discount code is Sarah583995.

Get charged up and Refer a friend to Tesla. 

Get the ultimate reward for driving a Tesla! Share the Tesla love and invite your friends to join the family. With the Tesla Discount code, you’ll get exclusive Tesla credits when you refer someone and they buy their very own Tesla. Plus they will now get a discount on a Tesla, which they will be very happy with!

Start saving up your credits now, and cash out for merchandise or supercharging miles – free Tesla Supercharging miles and rewards for driving the best car around.

Tesla doesn’t pay to advertise instead they prefer word of mouth. A recommendation to buy a Tesla from a current owner is far more powerful in their view.

The Tesla Referral Awards scheme provides current Tesla owners with a unique referral code which they can pass on when recommending a new Tesla. Both the current and new Tesla owners benefit by sharing and receiving a Tesla referral code or link. I love that they have now changed the scheme to offer a discount on a Tesla rather than allocating referral credits to new owners. The Tesla credits are great but when you are spending money on a large item you really want a monetary discount.

There’s no better time to join the #teslaclub than now! Use my Tesla referral code for a discount on a Tesla and be part of the innovation and luxury that comes with owning a Tesla. Get ahead of the curb and join today. #tesla #referralcode  #JoinNow

I highly recommend buying a Tesla Model Y.

I have owned my Tesla Model Y since February 2022 before I drove a diesel family car. The charging is a doodle thanks to the Tesla Supercharging network and it is a joy to drive. Any questions just send me a message and I will be happy to help. 💚

Just for a bit of fun here I am trying to talk to my  Tesla with a Welsh accent. Tesla has introduced British English as an option in the menu settings and I was trying to see if it would understand me now..the jury is still out. 😀

This is what I love about Tesla it is forever changing and updating. Unlike any vehicle I have driven before it just gets better and better with time!

@sarah_go_green #teslatok #teslabritishaccent #teslavoicecommands #teslawelshvoice #tesla ♬ original sound – sarah_go_green

You can read more about the Tesla Discount Code and how it works in the UK and Europe on the Tesla website.

My other blog posts you may find interesting because you are buying a Tesla;

• EV charging – Intelligent Octopus Go.

Octopus 12 Month Fixed or Flexible tariff?

Choose the right Octopus Energy Tariff for 2024 / 2025. 

Updated 28th December 2024

If you are an existing Octopus Energy customer or are thinking of switching to Octopus Energy you may be trying to decide between the Octopus Fixed and the Octopus Flexible tariff I can help.

I’ve been an Octopus Energy customer for six years and check their energy rates daily. The good news is you can now switch to an Octopus Energy 12-month fixed tariff that’s around 6.3% below the January 2025 Energy Price Cap but is that a good deal?

It can feel like a minefield especially if you are worried about being trapped paying too much for your energy.   If you are anxious about making the wrong decision don’t panic. I am very geeky about Octopus tariffs and my review will give you all the information you need. It’ll hopefully help you make a decision that is right for you.

There are currently no exit fees on any Octopus Energy tariffs so you won’t get trapped paying too much if energy prices go down. That’s a big tick even before we get started!

Now is a good time to review your tariff and make a plan for winter as we head into 2025. Say goodbye to uncertainty and hello to confidence in managing your energy costs effectively. You have an Octopus super geek on your side.

Written by Sarah Chambers

Peace of mind – The Octopus 12 Months Fixed Tariff is around 6.3% less than the January 2025 Price Cap. 

If you’d like to protect your Octopus tariff from future changes, Octopus offers a 12-month fixed tariff of around 6.3% below the Octopus Flexible tariff. (January 2025 Energy Price Cap) There are no exit fees so there’s no catch to this offer. 

The Octopus 12-month fixed tariff changed towards the middle of December and went down slightly.

Whatever happens in the world be it politics, conflict or restricted energy supplies if you opt for the Octopus Fixed tariff the rate you pay per kWh and the standing charge will not change for 12 months unless you want it to. Plus the no-exit fee policy on the current Octopus fixed tariffs makes this tariff a safe bet for the next 12 months.

There is currently only one traditional Octopus Energy 12 Months Fixed tariff this is open to both new and existing customers. This is the Octopus 12-month fixed December v1 2024 tariff and it’s well worth considering if you prefer the assurance of a fixed energy deal.

• You’ll pay around 6.3% less than the Octopus Flexible Tariff (Energy Price Cap) on the Octopus 12 months fixed between the 1st of January and the 31st of March 2025.
• Wholesale energy prices are quite volatile at the moment. Ofgem has just announced a 1.2% increase on the Energy Price Cap from the 1st of January 2025.  Some predictions warn of a further 1% increase on the 1st of April 2025 but it’s far too early to predict this far ahead. This prediction changes almost every week.
• The Octopus 12-month fixed will still be below the Energy Price Cap up until 30th June 2025 if predictions are correct. It’s too far ahead to guestimate any further.

New Octopus Energy customers.

In addition, as a new Octopus Energy customer, you can use a £50 switching offer. (That’s an instant 2.9% off the October Energy Price Cap regardless of the tariff you choose.)

• Approximately 6.3% below the January 2025 cap from the tariff itself,
• Plus the 2.9% from the £50 new customer switching credit.
• No exit fees apply.

I have heard energy prices may go down in 2025 what are the predictions compared to the Octopus 12-month fixed tariff?

With no exit fees, I don’t need to say anything else if you are considering the Octopus fixed tariff v the Octopus flexible tariff.  Grab your Octopus rates and fix them.  If prices drop switch to the cheaper version with a quick email. It is that simple, I’ve done it a few times.

Annual typical use prices Octopus Fixed v Octopus Flexible tariff.

On typical use, the Energy Price Cap in January 2025 is £1,738. This covers the period from 1st January 2025 to 31st March 2025.

Martin Lewis is already talking about a possible price increase in 2025 and is referring to the EDF Price Cap forecasting Service from the 23rd of December 2024. However, he is suggesting a fixed tariff is worth considering if it is no less than 2% below the January  2025 price cap.

The Octopus 12-month fixed tariff is well below the January 2025 Price Cap. I did a quote this afternoon and if you are only considering the fixed v flexible tariffs it makes sense to fix your rate.

No one has typical usage, so looking at the price per kWh and your energy needs is important.

What are energy prices expected to do in 2025? 

No one can tell you what will happen in the energy market over the next few months. Some analysts anticipate a 1-3% increase in the Energy Price Cap but it is too early to tell. We will know more as we progress into the new year.

• If you are on the Octopus Flexible tariff as an existing customer you will now be paying around 6.3% more than the fixed tariff until 31st March 2025. (Based on typical use for a dual-fuel home)
• If you take the Octopus Fixed tariff based on these predictions (based on typical use for a dual-fuel home) you will pay  6.3% less than the Octopus Flexible tariff for 3 months starting on the 1st of January 2025 and you’ll continue to make a saving, if EDF predictions are correct, from 1st April to 30th June 2025.

This is why you may decide to take the Octopus 12-month fixed tariff now. You’ll lock in a lower rate if predictions are correct. If prices go down you’d contact Octopus and hop over to the cheaper rates. With no exit fees, you can do that very easily. (These prices are based on the typical use of dual fuel.) However, if you are an all-electric house it’s still worth it as most of the savings are on electricty anyway.

Advantages of switching to an Octopus Energy 12 months fixed tariff now;

1. You’ll lock in a rate you can switch away from at any time with no exit fees.
2. £50 credit when you switch using my referral link.
3. There are no exit fees or requirements for a smart meter.

Disadvantages of Switching to an Octopus Energy 12 months fixed tariff now;

• You could save more now by switching to an Octopus smart tariff, eg Octopus Tracker or Octopus Agile tariff.

As a new customer, you can switch to the Octopus Energy 12 Months Fixed tariff when you switch from your current supplier. The  Octopus Flexible rates would cost you more until at least the spring.  Predictions suggest you would pay more until at least the summer.

The Octopus 12-month fixed is around 6.3% less than the January 2025 Energy Price Cap and there’s a 4% discount on the daily standing charge set by Ofgem.

Octopus Energy 12 Month Fixed Tariff for both new and existing customers.

When switching, new customers can switch to the Octopus 12-month fixed tariff or the Octopus Flexible tariff. You could grab the Octopus 12 months fixed and if prices drop in the new year switch to the Octopus Flexible rate or a cheaper fixed if it becomes available.

Octopus no longer has tariffs exclusively for new customers. It is against enticing new customers with a lower rate to trap them. Equally, they don’t want to disadvantage loyal customers who want to stay with them.

Octopus commits to fair pricing for all customers and calls for a market focused on innovation, customer service, and efficiency, rather than ripping customers off with Del Boy pricing practices

On the Octopus 12 Months Fixed Tariff December v1 2024, the unit rate and standing charge are;

• Electricity –  22.76p per kWh with a standing charge of 62.06p per day
• Gas – 6.12p per kWh with a standing charge of 29.77p per day.

This quote is for South Wales, and prices vary slightly throughout the UK.

There are very few fixed energy tariffs with no exit fees or requirement to have a smart meter but the Octopus fixed tariff ticks both boxes.

Read my blog post – Compare Octopus Energy Tariffs 2024

About the author: I’ve been a happy Octopus Energy customer for 6 years.

This is me. I can be found on social media as Sarah_Go_Green and I have been an Octopus customer for 6 years. I’m featured on the Octopus website and their YouTube channel as a solar customer. I’ve been on the BBC news, published in the Telegraph for owning part of a wind turbine.

Recently I’ve been in Bloomberg simply for being an energy geek.  I love renewable energy and make it my mission to reduce my family’s home energy bills while improving our carbon footprint. I’ve got around 7,000 followers across X and TikTok where I talk about electrifying my home and reducing my Octopus energy bill. I can help you too! I’ve done a quick voice note below to say hello.

What has happened to the Octopus Loyal 12-Months Fixed Tariff?

The Loyal Octopus 12-month fixed tariff was 4% below the April Energy Price Cap and was open to Octopus customers who had been with them for at least 8 months. It rewarded loyal Octopus customers with a cheaper energy rate. This was withdrawn and now everyone can get an Octopus 12-month fixed tariff.

What happened to the Octopus 15-Month Fixed Tariff?

On the 1st of October 2024, Octopus withdrew the Octopus 15-month fixed tariff and replaced it with a 12-month fixed tariff that is even cheaper. Competitive and lower wholesale energy prices are making fixed tariffs more attractive

If you are with another supplier how do you know if you are on the Energy Price Cap?

As a rough rule of thumb you will be on a default tariff if which follows the Energy Price Cap if;

• You have never switched your energy tariff.
• Your fixed deal has ended but you haven’t chosen a new tariff.
• Your last supplier went bust and you’ve been transferred to a new one

If you are still unsure check your bill or contact your current supplier to ask.

As an existing Octopus Energy customer, you can check the name and rates of your current tariff on the home page of your Octopus Energy dashboard or check on the Octopus tariffs page. Just enter your postcode but do not select “Get a quote”. I would suggest clicking in the filter box to just see domestic tariffs.

1st January 2025 to 31st March 2025 Energy Price Cap.

The Energy Price Cap will rise by 1.2% on the 1st of January 2025

The chart below shows the Octopus Flexible tariff (January 2025 Energy Price Cap) in comparison to the Octopus 12-month Fixed tariffs

If you look ahead to April 2025 there is a very loose prediction. It is just too early in my opinion to give this much weight.

As an illustration here are the current rates for the Octopus 12-month fixed tariffs, the Octopus Flexible tariff and predicted price changes in 2025. The figures below are from Cornwall Insight,  Ofgem and the Octopus Energy website.

Should you take an Octopus Fixed Tariff now?

Deciding if to fix your energy deal is a personal choice. I can’t see a downside to taking the Octopus 12 months fixed now especially if you won’t consider an Octopus smart tariff.

Here are some of the big benefits of a Fixed Octopus Energy tariff;

• Budget-friendly: If you need predictability and can’t afford to risk prices rising further in the winter the Octopus Fixed is a good choice.
• Risk threshold: Are you comfortable betting against the predicted energy price rises? If not, the Fixed Octopus tariff would restore stability to your household bills. There may be no point risking price rises in October if you can lock in your rates now with no exit fees. That’s the key, you can take a cheaper rate if one comes around at any time.
• Potential for Savings: The Flexible tariff changes every 3 months. If wholesale energy prices fall you can realistically predict you will save money in the next quarter.  Cornwall Insight has recently, however, changed its prediction to show the energy price cap going up by around 1% on 1st January 2025.

Octopus Fixed rate with no exit fees – December v1 2024.

If you are only considering switching to the Octopus Flexible tariff or the Octopus 12-month fixed I think the fixed tariff makes sense. With no exit fees, you get to lock in your unit rate and standing charge for 12 months but can take a lower rate if one becomes available. You can’t however, hop in the tardis and go back in time and take the lower Octopus fixed tariff if prices go up.

It is competition and a reduction in wholesale energy prices that’s keeping the fixed rate down but I don’t know how long this will last. Let’s hope things change for the better.

What does Martin Lewis say about taking a fixed tariff now?

On Money Saving Export on Martin Lewis’ list of fixed tariffs worth considering the Octopus 12 months fixed is the only fixed tariff with zero exit fees. The December v1 isn’t listed as an option yet.

Now it’s become a cheaper 12 months fixed it’s even more attractive. With no exit fees, you can leave anytime but you get the security for 12 months with a modest 6.3% discount compared to the January 2025 price cap.

Martin Lewis’ fixed rates on the Money Saving Expert website show other suppliers who offer competitive fixed rates too but to qualify for some of those you’ll need to sign up for a smart meter and be locked in with a £5o or £75 exit fee.

My suggestion is to consider the Octopus 12 Months Fixed now.  You can always swap tariffs if prices go down. You can’t grab the cheaper rates if prices go up.

Will there be a cheaper Octopus 12-month fixed?

Considering the Octopus Energy fixed rate now isn’t a bad idea.

Fixed energy deals are based on current wholesale energy prices. The Octopus Fixed rates are lower than the January Price Cap.

At the moment wholesale energy prices are going up. The fact that the January 2025 Energy Price Cap is going up has no impact on the availability of cheaper fixed rates. The two are not linked.

The Energy Price Cap is based on the previous 3 months of wholesale energy rates while the fixed rates offered by suppliers are based on the wholesale rate NOW.

If wholesale energy prices are going up now it means that energy suppliers are forced to buy energy at a higher rate too. So we may see the Octopus 12-month fixed rates becoming less attractive as we head into winter.

However, if a cheaper Octopus Fixed does become available you can swap to it. With no exit fees you can do that so there is no risk if you lock in your fixed rate now.

Predictions are just that. They can change depending on politics and conflicts.

EDF Price Forecasting Service reports are the figures Martin Lewis uses to provide his current energy advice, but these are just predictions.

Ofgem is also looking at further redistributing standing charges into the unit rate. If you took a fixed you’d miss part of this because your terms and rates would be fixed for 12 months. But if tariffs with zero-standing chargers become available and you are a low-energy user you could save more money on one of these tariffs.  As Octopus has no exit fees you could move over to this tariff without any penalties.

You don’t have to fix both energy types. With Octopus you can fix your gas tariff and have your electricity tariff as flexible. Alternatively, you could choose an Octopus smart tariff for one fuel type and a fixed one for the other.

Here is a comparison between the Octopus 12-Month Fixed tariff, Octopus Flexible Tariff and the Octopus Tracker Tariff.

Just remember the Octopus 12-month fixed rate could be changed at any time! Deals don’t hang around and the Octopus fixed changed twice in October and three times in November. If the Octopus fixed tariff goes down and you’ve already fixed you can swap to the lower rate. But if you haven’t taken a fixed and it goes up you can’t get that cheaper rate.

These are the unit rates for electricty and gas in South Wales.

Customer review.

My website is not managed or owned by Octopus Energy. It is just a website created by, Sarah Go Green.  I’m a mum, a home energy geek and a very happy Octopus Energy customer.

You can read further independent Octopus Energy reviews on Trustpilot where 89% of customers give them 5 stars.

Posts written by Sarah you may find of interest;

• Up to day Octopus Energy tariff comparison 2025.

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Get More For Your Solar Export with Octopus Go And Octopus Outgoing Fixed.

Combine the Octopus Go tariff with the Octopus Outgoing tariff to maximize your solar panel and EV benefits. With this simple yet powerful combination, enjoy an 8.5p per kWh off-peak import rate for 5 hours and a 15p per kWh export rate around the clock. Perfect for green tech enthusiasts looking to get the most out of their solar energy and Electric Vehicles.

Who is the Octopus Go tariff designed for?

Octopus Go is a time-of-use tariff designed for Octopus Energy customers who own an Electric Vehicle.  It provides 5 hours of cheaper electricity overnight for charging your EV.

You only need a smart meter and an EV to qualify for Octopus Go.

If you have an EV or EV charger compatible with Intelligent Octopus Go I would suggest checking out the additional savings you can make on this tariff.

Two solar export tariffs you should consider if you are on Octopus Go?

Octopus Outgoing comes in two forms Octopus Outgoing (variable) and Octopus Agile Outgoing.

@sarah_go_green Replying to @Gary Williams Thank you Gary!! @Octopus Energy ♬ original sound – sarah_go_green

Who is Octopus Outgoing tariff best for?

If you want a set-and-forget export tariff Octopus Outgoing has a flat export rate of 15p per kWh. The Octopus outgoing tariff combined with Intelligent Octopus Go has helped me significantly reduce my home energy bills this year. You can do it too now even if you don’t qualify for the Intelligent version of the Octopus Go tariff.

Combining a cheap overnight import tariff such as Octopus Go with an export tariff that is almost double the rate is a complete no-brainer for reducing your home energy bill especially if you have home battery storage too.

Who is Octopus Agile Outgoing tariff best for?

If you are on the ball or rather more tech-savvy and have home automation through a 3rd party platform such as Home Assistant Octopus Agile Outgoing offers the ability to sell your solar export at a time of day when demand and prices are at their highest.

What changed on the 1st of November 2024 for Octopus Go customers with solar panels?

In November Octopus brought a smile to many Octopus Go customers by allowing them to combine the 15p per kWh export rate of Octopus Outgoing with Octopus Go.

• Until November 1, 2024, Octopus Go customers with solar panels were limited to an 8p per kWh fixed export rate on the Octopus Outgoing Lite tariff.
• On 1st November, 2024, Octopus Energy expanded the Outgoing tariff to all customers with an import tariff but it is no longer a fixed term
• This change nearly doubles the available export rate to 15p per kWh but it is no longer a fixed tariff.
• You can now benefit from the higher fixed solar export earnings if you are on Octopus Go.

Now all Octopus customers who have any Octopus import tariff can apply for the Octopus fixed export rate of which is 15p per kWh at anytime time of day.

Other posts by Sarah you may find interesting;

• Comparing Octopus Energy Tariffs.
• Intelligent Octopus Flux is it the best solar export tariff?
• Octopus Export tariffs and SEG.
• Running my home as a mini power station. 

Octopus 15-month fixed tariff – Don’t get locked into paying too much for your energy!

Octopus Energy introduced a 15-month fixed tariff on September 6th, but it was replaced by a more affordable 12-month fixed tariff on October 1st, 2024. The new plan is now cheaper, offering even better value for customers looking to lock in their rates for a year

Updated: 1st October 2024.

If you are trying to find some security with a fixed tariff, in my opinion, the Octopus 12-month fixed covers everything.

• It’s 8.8% cheaper than the October 2024 price cap.
• There are no exit fees, so you won’t get trapped paying too much if prices drop.
• Safeguards your rates for 12 months if prices go up further or remain higher than the fixed rates.
• There is no requirement for a smart meter. (Although I think they are a way of unlocking other savings too.)

Martin Lewis suggests considering a fixed tariff if it’s up to 1% less than the October 2024 Energy Price Cap.  All of Martin’s suggestions on the Money Saving Expert website have exit fees.  With Octopus Energy there are no exit fees!

Is it worth taking the Octopus 15 months fixed? (Now 12 months fixed.)

• Currently, the Octopus 12 months fixed will be the cheapest tradional Octopus tariff from 1st October 2024.
• EDF Price Forecasting Services shows a 0.2% drop in January 2025 and a further 1% reduction in April and 2% in July Energy Price Caps.
• Wholesale energy prices are coming down in September but predictions are that energy will remain higher than the July Energy Price for the next year. (But that has to be a crystal ball prediction!)

This is just a quick post to make you aware of the new Octopus 15-month fixed tariff. You can read more on my full Octopus Energy tariff comparison blog which I update several times a week.

About Me.

I am a mum to 3 school-age daughters and have become hyper-focused on my energy bills. Energy now feels like a luxury commodity. This has made me more determined than ever to try and lower my bills and get the best value for money.

I have been a happy Octopus customer for 6 years. Switching suppliers helped me control my energy bills. Octopus Energy cares about its customers and constantly fights government policy to improve things.

Let’s compare Octopus Energy or switching tariffs if you want to learn more about them.  I have done the hard work for you! (I am on the spectrum and this is my area of expertise.)

Written by Sarah Chambers