Which energy suppliers offer cheap tracker tariffs in the UK?
A practical, UK-focused guide to tracker energy tariffs (including which suppliers typically offer them, how pricing works, and how to check if a tracker is actually cheaper for your home).
- Understand tracker tariffs vs fixed and standard variable tariffs (SVT)
- See the main tracker types (cap-to-SVT, day-ahead wholesale, index-linked)
- Use our checklist and scenarios to decide if a tracker suits your risk level
Estimates only. Availability, prices and eligibility vary by region, meter type and payment method. Always check the tariff factsheet and exit fees before switching.
Fast answer: who offers cheap tracker tariffs?
In the UK, tracker tariffs are most commonly offered by smaller or digitally-led suppliers, and occasionally by larger brands as limited-release or online-only deals. There isn’t a single supplier that is “always cheapest” because tracker prices move with an index (often wholesale market prices) and your final cost depends on your region, meter type, payment method and the tracker’s rules.
What you can do today: compare whole-of-market quotes for your postcode and meter type, then shortlist any tracker results and check (1) the index used, (2) update frequency, (3) cap or protection mechanism, and (4) exit fees.
Key takeaways
- “Cheap” trackers are usually those with a clear wholesale-linked index, transparent fees, and no hidden uplift beyond stated margins.
- Risk matters: a tracker can beat a fixed deal in calmer markets, but can also rise quickly.
- Eligibility varies by region (distribution area), meter (smart / non-smart, prepay), and payment method (Direct Debit often required).
What to check before you switch
- Index & update frequency
- Day-ahead, month-ahead, or another reference; updated daily/weekly/monthly.
- Cap / protection
- Some trackers are capped to SVT or have a maximum unit rate; others have no cap.
- Exit fees & switching rules
- Check if you can leave fee-free if prices rise (many trackers allow easy exits, but not all).
Compare tracker tariffs for your postcode (whole of market)
Tracker availability can change quickly and may differ by region. The most reliable way to find today’s trackers is to run a quote for your home, then filter by tariff type.
Good to know: Some suppliers restrict trackers to smart meters, new customers, or Direct Debit. Prepayment and complex meters can have fewer tracker options.
How switching normally works (UK)
- Get quotes for your postcode, payment method and meter type.
- Check the tariff information label (unit rate, standing charge, exit fees, contract length).
- Submit your switch. Your new supplier typically manages the process.
- Take meter readings (unless smart readings are used) and keep a note of your opening read.
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How tracker tariffs price your gas and electricity
A tracker tariff links your unit rate (and sometimes standing charge) to a reference value. In practice, this means your bill can rise or fall over time—often more frequently than a fixed tariff.
Common tracker structures
- Wholesale-linked: follows a wholesale market index plus a margin.
- SVT-capped tracker: can move, but is capped relative to the supplier’s SVT (or another cap rule).
- Time-limited tracker: promotional trackers that later revert to another tariff.
What “cheap” really means on a tracker
A tracker can look cheap today but become expensive if the underlying index rises. For a fair comparison, look at:
- standing charge and unit rate
- how often prices update (daily vs monthly)
- any cap/maximum unit rate
- exit fees and minimum term
Tracker vs Ofgem price cap: the Ofgem price cap limits the level of default/SVT tariffs (not a cap on your total bill). Trackers may sit above or below SVT at different times.
Which suppliers tend to offer tracker tariffs in the UK?
Tracker tariffs are not always a “core” product for every supplier, and availability changes. In recent years, trackers have most often been seen from independent challengers and online-first suppliers, with some larger suppliers offering tracker-style deals to segments of customers.
Important: We’re not listing a “cheapest supplier” because that can be misleading and quickly outdated. Instead, we show you how to identify tracker tariffs and compare them accurately for your postcode and circumstances.
Where to find current tracker options
- Whole-of-market comparison results filtered by tariff type (tracker).
- Supplier tariff pages and tariff information labels (look for “tracker”, “index-linked”, “variable”, “wholesale”).
- Your existing supplier: some offer customer-only trackers or retention deals (terms can differ from public offers).
Tracker tariff comparison table (what to look for)
Use this table to compare trackers on features that affect your risk and real-world cost. Check your tariff factsheet for the exact wording.
| Feature | Option A (lower risk) | Option B (higher risk) | Why it matters |
|---|---|---|---|
| Update frequency | Monthly/quarterly adjustments | Daily adjustments | Daily trackers can move fast; budgeting is harder. |
| Protection / cap | Capped (e.g., linked to SVT or max unit rate) | No cap | Caps can limit spikes but may come with higher baseline pricing. |
| Exit fees | £0 exit fee | Exit fee per fuel | If prices rise, leaving quickly matters. |
| Standing charge | Competitive for your region | High standing charge | High standing charges can wipe out unit-rate gains for low users. |
| Eligibility | Available to non-smart / multiple payment methods | Smart meter + Direct Debit required | If you can’t meet requirements, a “cheap tracker” isn’t actually available. |
Decision checklist: a tracker may suit you if…
- you can tolerate bills changing (and you have some budget headroom)
- you’re happy to monitor prices monthly (or weekly if it’s a daily tracker)
- you’d switch again if the tracker stops being competitive
- you have Direct Debit and (where required) a smart meter
A tracker may not suit you if…
- you need stable, predictable monthly payments
- you’d struggle if prices rose quickly over a short period
- you’re on prepayment and have limited tariff choice
- you prefer “set and forget” and won’t review your tariff
Two realistic scenarios (with numbers)
These examples are illustrative to show how trackers can help or hurt. Actual rates vary by region, time, supplier and tariff.
Scenario A: prices fall (tracker wins)
- Household: typical dual fuel, Direct Debit, credit meter
- Use: 2,700 kWh electricity/year and 11,500 kWh gas/year
- Standing charges (combined): ~£650/year (illustrative)
- Fixed unit costs (combined): ~£1,250/year
- Tracker unit costs after a wholesale dip: ~£1,050/year
Estimated difference: tracker ~£200/year lower, assuming the lower unit rates persist for most of the year.
Scenario B: prices spike (fixed wins)
- Same household and usage as Scenario A
- Standing charges (combined): ~£650/year
- Fixed unit costs (combined): ~£1,250/year
- Tracker unit costs after a spike: ~£1,500/year
Estimated difference: tracker ~£250/year higher, if elevated tracker rates persist.
Assumptions: examples separate standing charges from unit costs and assume no changes in consumption behaviour. They do not model VAT timing, credit balances, or price changes within the year.
Costs, exclusions and common tracker pitfalls
Tracker tariffs can be great when markets are stable or falling, but these are the most common “gotchas” that stop a tracker being cheap in practice.
1) Standing charges vary by region
Two homes can see very different “best deals” because standing charges (and sometimes unit rates) depend on your electricity distribution region and gas network area.
2) Smart meter / payment method restrictions
Many trackers are Direct Debit only. Some require a smart meter (or have better rates with one). Prepayment customers may have fewer tracker choices.
3) “Tracker” can mean different things
Some tariffs track wholesale prices, others track another reference (or are simply variable with a formula). Always read how the unit rate is calculated and how often it updates.
4) Exit fees and minimum terms
A tracker with an exit fee can be risky if prices rise and you want to move quickly. Check whether exit fees apply per fuel and whether there is a cooling-off period.
5) Budgeting and Direct Debit changes
If prices move, your supplier may adjust your Direct Debit to cover projected costs. That can feel like a “price rise” even if your usage is unchanged.
6) Low usage homes can be caught out
If you use relatively little energy, a slightly better unit rate may not compensate for a higher standing charge. Compare the total estimated annual cost.
Tip: When you see a tracker quote, save a screenshot of the unit rates and the date. If the tariff updates daily, your quote could change before your switch completes.
FAQs: tracker energy tariffs (UK)
Are tracker tariffs always cheaper than fixed?
No. A tracker can be cheaper when the index falls or stays low, but it can become more expensive quickly if wholesale prices rise. Compare total estimated annual cost and check if there’s any cap.
Do I need a smart meter for a tracker tariff?
Not always. Some trackers are available on standard credit meters, but many suppliers prefer or require smart meters—especially if prices update frequently. Always check eligibility before applying.
How often do tracker unit rates change?
It depends on the tariff. Some are daily trackers; others update weekly or monthly. The tariff information label or terms should state the update frequency and the index used.
Is a tracker tariff the same as an SVT?
No. An SVT is the supplier’s default variable tariff (often price-capped by Ofgem’s cap methodology). A tracker uses a specific tracking formula/index and may change more frequently.
Can I switch away from a tracker quickly?
Sometimes. Many tracker tariffs have no exit fee, but some do. Check exit fees per fuel, any minimum term, and whether you’re within a cooling-off period.
Do tracker prices include VAT?
Domestic energy quotes and unit rates are typically shown inclusive of VAT (currently 5% for household energy). If a tariff references wholesale indices, those indices may not be presented the same way—focus on the tariff’s final unit rate and standing charge.
What if I’m on a prepayment meter?
Tracker options can be limited on prepayment, and prices can differ. It’s still worth comparing, but you may see fewer tracker results and different eligibility rules.
How do I tell if a tracker is genuinely transparent?
Look for a clear formula, the named index, how often it updates, and any margin or cap described in plain terms. If you can’t easily understand what your unit rate will follow, consider a different tariff type.
Trust, editorial standards, methodology & sources
Page accountability
- Written by
- EnergyPlus Editorial Team
- Reviewed by
- Energy Specialist (UK domestic energy)
- Last updated
- February 2026
How we assess “cheap tracker tariffs”
We focus on factors that predict whether a tracker is likely to be cost-effective and fair to customers, rather than naming a “winner” that could be outdated tomorrow.
- Price transparency: clear unit rate rules, named index, and update frequency.
- Total cost: unit rates plus standing charges (which vary by region).
- Risk controls: caps, SVT linkage, and ability to exit if prices rise.
- Eligibility friction: smart meter requirements, Direct Debit, and meter/payment exclusions.
- Customer practicality: how easy it is to understand and monitor.
Limitations & caveats
- Tariffs can be withdrawn or changed; always confirm details on the supplier’s tariff information label before switching.
- Quotes are sensitive to your region, meter type, payment method and consumption profile.
- Wholesale-index trackers can change frequently; a quote is a snapshot in time.
- This guide is for UK domestic energy customers (not business energy).
Ready to see whether a tracker is cheap for your home?
Compare whole-of-market tariffs for your postcode, then shortlist trackers with clear pricing and fair exit terms.
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