Should I switch to an energy tracker tariff this month?

Compare tracker tariffs against fixed and variable — all in one place

If you’re asking “should I switch to an energy tracker tariff this month?” you’re usually trying to do one of two things:

• Pay less than the price cap when wholesale prices are lower, without locking into a long fix.
• Stay flexible while keeping the option to switch again if rates move the wrong way.

EnergyPlus is a whole-of-market comparison service for UK home energy. Use the form to see suitable options based on your postcode and preferences — including tracker, fixed and standard variable tariffs where available.

Potential savings vs the price cap

When wholesale prices fall, some trackers can sit below a typical standard variable tariff. The trade-off is that the price can rise quickly too.

Flexibility without long fixes

Many tracker deals have shorter commitments than fixed tariffs. Some have exit fees, some don’t — always check before switching.

Transparency (but more moving parts)

Trackers often follow a published index or formula. That can be reassuring, but you need to understand what it tracks and how often it changes.

Budgeting can be harder

If your monthly payments need to be predictable, a fixed tariff may suit you better — especially in winter or during market volatility.

Standing charges still matter

A lower unit rate can be cancelled out by a higher standing charge. Comparing the total cost matters more than one headline number.

Not everyone is eligible

Availability can depend on your meter type, payment method, and supplier rules. Whole-of-market comparison helps you see what’s actually on offer.

Tracker vs fixed vs standard variable

Note: the Ofgem price cap applies to unit rates on default tariffs for typical usage; your bill depends on how much energy you use.

What to check before you switch

• How often the price updates (daily, weekly, monthly)
• What it tracks (wholesale index, day-ahead price, or supplier formula)
• Any price cap/ceiling within the tariff terms (some include one, many don’t)
• Standing charge and how it compares to alternatives
• Exit fees and contract length
• Payment method (Direct Debit, prepay, etc.) and meter requirements

A tracker may suit you if…

• You can cope with month-to-month changes in cost
• You’re happy to keep an eye on rates and act if needed
• You want flexibility rather than a long-term fixed contract
• You have a financial buffer for short-term increases

A tracker may not suit you if…

• You need predictable payments for budgeting
• You’re worried about price spikes during cold spells
• You’re unlikely to switch again if rates rise
• You’d be hit by exit fees if you change your mind

Key cost components

A simple way to compare “this month”

If you don’t want to overcomplicate it, compare using three questions:

• Today: Is the tracker’s total estimated cost lower than a decent fixed alternative?
• Next month: If the unit rate rises, do you still beat your current deal?
• Worst case: If prices spike, can you afford it — and can you exit quickly?

Mistake: ignoring standing charges

Some homes with low usage benefit more from a lower standing charge than a lower unit rate. Always compare the full tariff structure.

Mistake: assuming prices only go one way

Trackers can fall — and rise. Set a personal “exit trigger” so you’re not making decisions in a panic.

Mistake: not checking exit fees

If you might want to switch again soon, a tracker with exit fees can reduce your flexibility when you need it most.

Regional differences

Standing charges and unit rates vary by region. Your postcode affects what you’ll pay, so national averages can be misleading.

Meter type considerations

Some deals are limited by meter type and payment method. If you have a prepayment meter, availability may be more limited.

Timing the switch

Switching takes time. If your current deal is ending, plan ahead to avoid rolling onto a higher-cost tariff unintentionally.

Can a tracker tariff go above the Ofgem price cap?

The Ofgem price cap limits unit rates on many default tariffs (like standard variable). A tracker is typically a deal tariff with its own terms, and prices can move with the market. Always read the tariff information to understand the risks and any built-in limits.

Do tracker tariffs change every day?

Some do, some don’t. It depends on the supplier and what the tariff tracks. Look for wording such as daily/weekly/monthly updates in the tariff details.

Is it easy to switch away from a tracker?

Often yes — but not always. If there’s an exit fee or a minimum term, leaving early could cost you. Before switching, check how quickly you could move to a fixed tariff if prices rise.

Will my supply be interrupted when I switch?

No. Your gas and electricity keep flowing. The switch is administrative — you won’t be cut off because you’re changing supplier.

Are tracker tariffs suitable for prepayment meters?

Availability can be limited, and prices can differ by payment method. The easiest way to check is to run a postcode-based comparison.

What info do I need to compare accurately?

Postcode and contact details get you started. For a more accurate result, have your annual kWh usage (or a recent bill) and current tariff details to hand.

“The comparison made it easy to see a tracker alongside fixed deals, not just one option.”

— Home energy customer, UK

“Clear explanation of standing charges helped me choose the right tariff for our low usage.”

— Household switcher

“Quick process — I felt confident I’d checked the market properly before switching.”

— UK resident