Octopus Energy has launched a new tariff that follows wholesale energy costs in what it describes as "Britain's fairest energy tariff" in the cost of living crisis.
The supplier says its Octopus Tracker deal is Britain's first tariff to truly follow the wholesale price of energy, but has warned that this means prices can go up as well as down on a daily basis. 50,000 of its customers 5.3m will be asked to go on a waiting list to switch to a new tariff, which will kick in at the same time as Ofgem's new energy price cap on July 1.
Soaring energy prices over the past 18 months have just about wiped out any new deals. With the exception of a handful of deals for existing customers, there's not much choice over and above the standard variable rate.
