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?
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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 Yep. Funny just not in a happy way.
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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 Transmission, distribution and various surcharges make up a large part of consumer bills. Some of those are going up while wholesale prices are dropping. Yes it sucks.
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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 interesting, I had an email from them yesterday that wholesale prices are climbing. They aren't increasing my prices though (because I've been with them a while).
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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?
I definitely sniff a class action law case in that!
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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 Then you should respond likewise. That you - reluctantly - reduce the price you pay them for their's proportionally.
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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 That's called hypercapitalism.
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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 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.
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@statsguy interesting, I had an email from them yesterday that wholesale prices are climbing. They aren't increasing my prices though (because I've been with them a while).
@fak That's very weird. It would seem that they are lying to at least one of us.
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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.
