Should I switch to a tracker tariff this month?

A tracker can be a good choice if you’re comfortable with price changes and want the potential to benefit when wholesale prices fall. It may be less suitable if you prefer predictable bills or would struggle to absorb short-term price spikes. If you’re comparing options, check today’s tracker rate, the tariff’s maximum cap (if any), the standing charge, and any exit fees versus your current plan.

How is the tracker price calculated and how often does it change?

Most tracker tariffs follow a transparent formula that references a market index and adds the supplier’s costs (such as operating costs, policy costs and margin). The unit rate usually updates daily (sometimes more frequently), with the exact method and timing set out in the tariff terms.

Can a tracker tariff ever cost more than the Energy Price Cap?

Yes. The Ofgem Energy Price Cap limits what suppliers can charge on standard variable tariffs, not what wholesale markets do. A tracker rate can rise above the Price Cap level, depending on the tariff formula and market conditions. Some trackers include a maximum unit-rate cap; others may not. Always check the tariff’s caps and limits before switching.

Who is a tracker tariff best for?

Tracker tariffs may suit households that can tolerate bill variability, have a financial buffer for occasional spikes, and want to take advantage of potential market dips. They can also work well for customers who actively monitor prices and are happy to switch again if the market moves against them.

Who should avoid a tracker tariff?

A tracker tariff may not be suitable if you need stable monthly budgeting, are risk-averse, or would struggle if rates rose sharply for a period. If you prefer certainty, a fixed tariff (or a standard variable tariff with a price-cap framework) may be a better fit.

What should I check before switching to a tracker tariff?

Before you switch, check the unit rates and standing charges for gas and electricity, the tariff’s pricing formula, any maximum cap, exit fees, and the contract length. Also compare how the tracker has performed recently versus a fixed deal, and make sure you understand when and how prices change.

Are there exit fees on tracker tariffs?

Some tracker tariffs have exit fees and some do not. The best approach is to read the tariff information and terms before switching so you understand the cost of moving away if market prices rise or you find a better deal.

How quickly can I switch to a tracker tariff and will my supply be interrupted?

Energy switches are typically completed within a few working days (timings vary by supplier and circumstances). Your gas and electricity supply should not be interrupted because the same physical networks deliver the energy; only billing and customer service change.

How do I compare tracker vs fixed tariffs to choose the best option?

Compare the current unit rates and standing charges, then consider risk: a fixed tariff prioritises certainty while a tracker prioritises potential savings when prices fall. If you want a more confident decision, estimate your monthly usage, model a reasonable range of tracker prices (including spike scenarios), and factor in any exit fees. You can review EnergyPlus updates and options at https://www.energyplus.co.uk/news and explore switching information at https://www.energyplus.co.uk/.

Should I move to a UK tracker tariff this month?

Q: What is a UK tracker tariff?

A UK tracker tariff is an energy plan where your unit rate tracks a published market-based reference (commonly a day-ahead wholesale price) rather than staying fixed for a set term. Prices can go down or up, typically changing daily, so your bill can vary from month to month.

Tracker energy tariffs can be great value in the right month — and costly in the wrong one. Compare whole-of-market tracker, fixed and flexible deals with EnergyPlus and see what suits your home, your risk tolerance and your budget.

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A UK tracker tariff typically follows a published wholesale-linked price (often day-to-day or month-to-month). That means your unit rate can go up or down. Whether you should move this month depends on three things: your risk appetite, your household usage pattern, and what fixed deals are available right now.

Use the form to get a personalised comparison across the market (where available), including tracker, fixed and standard variable/flexible options. You’ll see tariffs that fit your home energy needs — not business energy.

When a tracker can make sense

You want the chance to benefit if market prices fall.
You’re comfortable with bills changing and have a buffer for higher months.
You value flexibility (some trackers have low/no exit fees — always check).

When you might avoid a tracker

You need predictable monthly costs (tight budget, fixed income).
You’d struggle if unit rates jumped for a few weeks.
You prefer to lock in a rate for peace of mind.

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You can still compare. Seeing today’s tracker alongside competitive fixed deals is often the quickest way to decide.

What is a UK tracker tariff?

A tracker tariff is a variable energy plan where your unit price (and sometimes standing charge) changes in line with a published benchmark. Depending on the supplier, that benchmark may be linked to wholesale market costs and can update daily or monthly.

It’s different from a standard variable tariff, which can change too but is not necessarily tied to a transparent day-to-day benchmark. Trackers are designed to move more directly with market prices — up and down.

Daily vs monthly trackers

Daily trackers can change more frequently, so they can reflect falls faster — but rises too. Monthly trackers smooth changes, but can lag behind fast market moves.

Caps and floors

Some trackers include a maximum unit rate (cap) or minimum (floor). A cap can reduce risk; a floor can limit how much you benefit when prices fall.

Exit fees and switching

A tracker may be cheaper but not always easy to leave. Always check exit fees and notice periods before switching.

Tracker tariff pros and cons (for UK households)

Use this as a practical guide before you decide whether to move to a tracker tariff this month.

Potential benefits

Access to lower prices when markets fall (without waiting for fixed deals to catch up).
Often more flexible than long fixes, depending on the tariff terms.
Transparency: the tariff may clearly state what it tracks and how often it updates.
Good for active switchers who keep an eye on rates and move when needed.

Key risks

Price volatility: unit rates can rise quickly, especially in colder months or during market shocks.
Budget uncertainty: harder to set stable Direct Debits and household budgets.
Exit fees or limits: some trackers charge to leave or have rules around switching.
Not always cheapest: a strong fixed deal can beat a tracker, especially if tracker prices are elevated.

Tip: Don’t decide on headline unit rates alone. Check the standing charge, your payment method, and whether the tariff covers gas, electricity, or both.

Decision checklist: should you move to a tracker this month?

Work through these quick checks. If you’re unsure, compare tracker and fixed deals for your postcode and let the numbers guide you.

Check your current tariff status. Are you on a fixed deal, flexible tariff, or already on a tracker? If your fix ends soon, you may have more switching options.
Look for exit fees and notice periods. If leaving your current tariff costs money, factor that into any expected savings.
Decide how much volatility you can tolerate. Ask yourself: if rates rose next week, could you cover higher bills for a month or two?
Match the tariff to your usage pattern. Higher usage homes can feel price changes more. If you use more energy in winter (typical), trackers can be riskier then.
Compare against the best fixed deals available now. The right decision is usually “tracker vs the best fix you can actually get in your region”.
Check the details: cap/floor, how often it updates, payment method, and whether standing charges are competitive.
Have an exit plan. Decide in advance what would make you switch away (e.g., if a fixed rate becomes cheaper by a clear margin).

Simple rule of thumb

If you need predictable bills, prioritise a competitive fixed tariff. If you can manage swings and want the chance to benefit from falling prices, a tracker can be worth considering — especially if it’s easy to leave.

Costs, savings and what to compare (beyond unit rates)

To decide whether to move to a tracker tariff this month, compare the total cost for your home — not just the advertised pence-per-kWh.

What to check	Why it matters on a tracker	What to look for
Standing charge	A low unit rate can be offset by a high standing charge.	Compare daily standing charge for gas and electricity in your region.
Tracking method	Different trackers follow different benchmarks and update schedules.	Is it daily/monthly? Is the benchmark clearly stated? Any cap/floor?
Exit fees	You may want to move quickly if fixed deals improve.	Low/no exit fees and short notice periods can reduce risk.
Direct Debit setup	Variable rates can affect how suppliers set or review payments.	Ask how often payments are reviewed and how credit/debit is handled.
Regional pricing	Unit rates and standing charges vary by distribution region.	Always compare with your postcode — not national averages.

Will I definitely save on a tracker?

No. A tracker is a trade-off: potential upside when prices fall, plus the risk of higher bills when prices rise. The best way to judge is to compare a tracker against today’s best fixed options you can actually switch to.

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Eligibility and practical considerations

Home energy only

This page is for domestic energy. If your meter is registered as business supply, you’ll need business tariffs instead.

Meter type

Most standard credit meters and smart meters can access tracker tariffs, but availability varies by supplier and region.

Payment method

Some of the most competitive tariffs are Direct Debit only. Comparing with your postcode helps filter what you can actually switch to.

Regional considerations

Gas and electricity prices vary across the UK due to regional network costs. A tracker that looks good in one area may be less competitive elsewhere — which is why postcode comparison is essential.

Common mistakes to avoid with tracker tariffs

Comparing only today’s rate

A tracker can look cheap on the day you check. Make sure you’re comfortable with the range of outcomes, not just the best-case day.

Ignoring the standing charge

If you’re a low user (small flat, efficient home), the standing charge can dominate your bill. Compare total expected cost.

Not checking exit fees

A tracker can be a “bridge” to a fixed deal — but only if you can leave without a painful penalty.

Assuming trackers are always cheaper

Some months a strong fixed tariff wins. That’s why the best move is usually to compare tracker, fixed and flexible options together.

FAQs: moving to a tracker tariff

Are tracker tariffs the same as the price cap?

No. The Ofgem price cap limits what suppliers can charge on standard variable tariffs in certain circumstances, but a tracker tariff is a specific product that follows a stated benchmark and can move up and down as that benchmark changes.

Can I switch away from a tracker quickly?

Sometimes — it depends on the supplier’s terms. Some trackers have no exit fee; others do. Always check the tariff information before you commit.

Do trackers work with smart meters?

Often yes, but it varies by tariff and supplier. Many households with standard meters can also access trackers. Your postcode and meter setup can affect what’s available.

Is a tracker good for low energy users?

It can be, but low users should pay close attention to standing charges. The cheapest unit rate isn’t always the cheapest overall bill for low consumption homes.

What information do I need to compare accurately?

Your postcode is the key starting point. If you have them, your annual kWh usage (or recent bills) helps refine the estimate, but you can still compare without perfect data.

Still deciding? Jump back to the comparison form to see tracker and fixed options for your home this month.

Ready to check tracker tariffs for your home?

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Updated on 11 Jan 2026