I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
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@statsguy Same. We have a battery system so I’ll be making sure it is drained down on sunny days so I get maximum benefit.
As for what you pay, at least that is regulated and capped. Is going down too in April.
I will also be checking the market to see if their feed-in tariff is still competitive, and then may have a switching conversation with them.
@davidbcohen It looks like Ecotricity do quite a competitive export tariff. Will need to do some spreadsheets to figure out if I'll be better off overall unless their import tariff is also cheaper, in which case switching to them will be a no brainer. Definitely some homework to do.
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy they buy energy way in advance so price charged now is for energy purchased months ago.
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy thankfully (I'm sure this will change at some point, given where I live), state law in West Virginia says they have to credit you the same amount per kWh that they charge you (we don't ever get money back for generating more than we import, but we do get perpetual credit for any extra we generate, and it has to be 1-to-1 cost for energy we import).
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy
"Octopus Energy: we got our slimy tentacles everywhere!" -
I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy
All I can do is shake my head.
You don't want to hear what I am thinking. -
I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy I had a teethgrinding letter from them leading with patting themselves on the back because they're keeping the EV tariff the same price.
Later it mentions that that's only for 6 hours a night (~40kWh), if you need any longer you can either pay more or go boil your head.
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@statsguy thankfully (I'm sure this will change at some point, given where I live), state law in West Virginia says they have to credit you the same amount per kWh that they charge you (we don't ever get money back for generating more than we import, but we do get perpetual credit for any extra we generate, and it has to be 1-to-1 cost for energy we import).
@cgrymala Oh, that sounds excellent. The price per kWh here is a lot higher for the energy I buy than for the energy I sell
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy Get yourself a battery.
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@cgrymala Oh, that sounds excellent. The price per kWh here is a lot higher for the energy I buy than for the energy I sell
@statsguy I'm also fortunate that energy here in WV is very cheap compared to a lot of other locations. I think our kWh price is still ~$0.135 USD. I know there are other places where it's almost ten times that price.
Still, that's up 3 cents/kWh in the past 2 years, but it's still relatively cheap.
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy I'm reminded of years ago when there was a tomato shortage, there was a Wendy's which said "due to the shortage, tomatoes will only be added to sandwiches on request and there will be an extra charge".
Translation: Due to the shortage, we're extending our profit margin. Using fewer supplies to sell something for the same price or higher? Triple score!
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@fak That's very weird. It would seem that they are lying to at least one of us.
@statsguy @fak I got the same message from them and they did explain this. They said short term small increase but long term trend is massively down.
I think this is fair, they are paying about 14p on average to buy wholesale electricity so paying us more than that.
As an organisation that almost never makes an annual profit I think they are by far the best utility retailer. -
I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy I guess the solution is more batteries.
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy Are you going to query it?
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy Funny, I got an email from them telling me exactly that: The price per kWh I pay *them* will go down by a couple of cents. Just like that.
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@statsguy Get yourself a battery.
@PeterPractice I already have one. But on a sunny day it gets full and then I have electricity to spare to send to the grid
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@statsguy I'm also fortunate that energy here in WV is very cheap compared to a lot of other locations. I think our kWh price is still ~$0.135 USD. I know there are other places where it's almost ten times that price.
Still, that's up 3 cents/kWh in the past 2 years, but it's still relatively cheap.
@cgrymala Yeah, that's a lot cheaper than here. Though fortuntely we're nothing like 10 x that price. I pay about £0.3 GBP per kWh during the day time, and much cheaper at night.
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@statsguy Are you going to query it?
@JustinMac84 No, there's nothing I can do about it except switch supplier. Which I may do, but I need to spend some serious time playing with spreadsheets first to see if it's worth it. There are many more things to consider than just the price I get paid for electricity export.
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I've had an email from Octopus Energy telling me that because of dramatic falls in wholesale electricity prices, they sadly have no choice but to reluctantly reduce the price they are paying me for the electricity I export from my solar panels.
Weirdly, they seem very much to have the choice not to reduce the price of the electricity that they sell to me.
Isn't it funny how that works?
@statsguy I wonder if anyone is working on a way to give/sell excess energy to local neighbors. I know nothing about this space from a feasibility perspective. But wouldn't that be a dream?
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@statsguy I wonder if anyone is working on a way to give/sell excess energy to local neighbors. I know nothing about this space from a feasibility perspective. But wouldn't that be a dream?
@Xoriff Yes, that would be awesome. But no idea if it's possible without some pretty major changes to the way we get our electricity.
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@JustinMac84 No, there's nothing I can do about it except switch supplier. Which I may do, but I need to spend some serious time playing with spreadsheets first to see if it's worth it. There are many more things to consider than just the price I get paid for electricity export.
@statsguy I more meant are you going to query the unfairness that the price you pay for electricity hasn't dropped in proportion. If electricity is worth less, you should pay less.
