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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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 do try to explain 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 Can you reluctantly refuse to lower your price on energy to them?
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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 a battery bank and store your own energy and then use it at night so you have to use less of their energy.
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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 Anyone who has been following energy prices (as opposed to consumer prices) for the past year has been amazed it's taken so long for Eon and Octopus to jump.
Energy prices have fallen a chunk, so the government stuffed more taxes and levies on it quietly. Some is getting reversed in April when bits are moved to general taxation and the ECO4 scam goes away (the one where they charged mostly poor people to offer grants to poor people for substandard insulation that wrecked their homes)
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@statsguy Anyone who has been following energy prices (as opposed to consumer prices) for the past year has been amazed it's taken so long for Eon and Octopus to jump.
Energy prices have fallen a chunk, so the government stuffed more taxes and levies on it quietly. Some is getting reversed in April when bits are moved to general taxation and the ECO4 scam goes away (the one where they charged mostly poor people to offer grants to poor people for substandard insulation that wrecked their homes)
@statsguy The long term CfD prices for new stuff strongly suggest it'll be down to 6p/kWh for flat rate solar in a couple of years.
Time based exports can still earn good money though - and that looks unlikely to change for quite some time.
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@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.
@statsguy @davidbcohen Used to use them long ago before the boss turned into a biogas nut. Prices were never great but they did have customer service. British Gas still seem to be 15.1p export but I hope their customer service has improved a lot since I last dealt with them
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@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.@LordOfTheGeeks @statsguy @fak
Well said.
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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 you can switch to Outgoing Agile and pay the market rate for your exports. The problem is that most people are exporting solar energy when it's sunny and power prices are low.
If you've got a battery and can export then Agile is probably better.
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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?
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@statsguy Get a battery bank and store your own energy and then use it at night so you have to use less of their energy.
@T2R Already have one. But the export tariff still comes in handy on sunny days when the battery is full and the sun is still shining
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@statsguy Can you reluctantly refuse to lower your price on energy to them?
@valen1 Sadly not.
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@statsguy you can switch to Outgoing Agile and pay the market rate for your exports. The problem is that most people are exporting solar energy when it's sunny and power prices are low.
If you've got a battery and can export then Agile is probably better.
@russss I do have a battery, so I may well look into that. Trouble is that for much of the day the export price is lower with agile, the rates are only good in the late afternoon/early evening. I'll need to do some playing with spreadsheets to try to figure out if I'd be any better off that way.
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@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.
I think it is mainly that they change the price for exports less often than the price for imports. When the 15p/kWh for export was set, the price for import was quite a bit more expensive than today. So you could argue they benefitted us by not dropping it earlier. In the end obviously it's just a market, they take the price they can get. I doubt I really get much better from others.
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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 Is there a group representing all the people who sell electricity to Octopus, so you can do group bargaining? Or can Octopus just unilaterally change the prices?
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@russss I do have a battery, so I may well look into that. Trouble is that for much of the day the export price is lower with agile, the rates are only good in the late afternoon/early evening. I'll need to do some playing with spreadsheets to try to figure out if I'd be any better off that way.
@statsguy problem is the rates are low during the day, especially during the summer, because everyone has solar on their roof and it's driving the price down!
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@T2R Already have one. But the export tariff still comes in handy on sunny days when the battery is full and the sun is still shining
@statsguy Maybe add a second battery bank then? But probably diminishing returns.
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