Energy Prices (Strictly NO referrals!)

One month in from having Solar :)

You're currently paying £80.00 a month. We recommend your payments should be £64.23 to keep your balance on track

Currently over £300 in credit too, although I think I'll leave as is even with a fixed cheaper tarrif
 
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Solar (and battery) makes such a difference - we are essentially just paying the standing charge over summer & occasional battery top-ups on dull days to keep from paying peak rates - best days we're in profit, worst are ~£1
 
i kept my £70 electricity and gas payments over the summer, combine that with the export octopus fux payments.... and have built up a tidy over £700 credit.
I dont mind tho, when i swap to IO over winter and start charging my car at home i am sure i will soon rip through that lot!.
 
I'm still on SVR with Ovo but don't see much incentive for moving to a fixed still. Any better options or best to sit on SVR going into Autumn?

Current plan

Electricity
Standing charge 41.67p per day
Peak unit rate 33.62p per Kilowatt hour
Off-peak unit rate 19.81p per Kilowatt hour
Gas
Standing charge 27.72p per day
Unit rate 7.04p per kWh


New plan 1 year fixed option

Electricity​

Standing charge 43.61 per day
Peak unit rate 34.72p/kWh
Off-peak unit rate 21.37p/kWh

Gas​

Standing charge 28.96p/day
Unit rate 7.83p per kWh
 
Off peak here is only 4 hours, depends on your hours to compare:
the average share of electricity used in the Octopus Go off-peak periods by Go customers (33%).

Your new Octopus Go prices
Peak unit rate: 30.52p / kWh
Off-peak unit rate: 9.50p / kWh
Standing charge: 52.18p / day
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Anyone with a battery and can just use off peak has the ideal imo. I guess the model works because of standing charges and they want people to stop overwhelming peak demand as UK is lacking in supply at the 'extremes'

www.bloomberg.com

Ukranian Energy Minister on Euro Gas Supplies

German Galushchenko, Ukraine's Energy Minister, told Alix Steel and Guy Johnson that Ukraine has the largest gas storage in Europe. Galushchenko joined "Bloomberg Markets: Americas" from the Net Zero Initiative ministerial meeting in Seattle. (Source: Bloomberg)
www.bloomberg.com www.bloomberg.com
Because of an ongoing war and UK reliant on imports and then gas to create electric we cant say what are the extremes that will occur, obviously the weather also
 
Annual energy bills for a typical household are expected to fall slightly to £1,926 from October, according to a new forecast.

Consultancy firm Cornwall Insight predicts bills could drop by £148 under a new official price cap set to be announced by Ofgem next week.
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Energy bills predicted to drop in October - BBC News

That's coming from July's £2,074 price cap. It hasn't come down as much as I (and I suspect many others) was hoping it would. :(
 
darael said:
Energy bills predicted to drop in October - BBC News

That's coming from July's £2,074 price cap. It hasn't come down as much as I (and I suspect many others) was hoping it would. :(
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I don't understand why just about every energy company is still pegged to the cap. (Well I do - shareholder profits/greed)... but then it's a bit disingenuous to call it a cap and rather call it a regulated price?
Given what tracker rates are like, I just can't see how this is permitted by ofgem.
 
Sinbad2000 said:
I don't understand why just about every energy company is still pegged to the cap. (Well I do - shareholder profits/greed)... but then it's a bit disingenuous to call it a cap and rather call it a regulated price?
Given what tracker rates are like, I just can't see how this is permitted by ofgem.
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Ofgem are in bed with the energy companies, that's why.
 
Is there any downside to this Eonnext tariff compared to staying on the SVR:

Next Pledge Tracker 12m V1​

Our Next Pledge fixed 1 year tracker tariff guarantees that your prices will always be £50 a year lower than the Ofgem price cap*. We'll update your prices automatically every three months.
£50 saving as reduced unit rates split across both electricity and gas (£25 saving per fuel).
You’ll need to pay by monthly Direct Debit and manage your account online.
No exit fees.


The only thing I can think of is that if the SVR drops below the price cap, unlikely but could just exit - and its not a fix so would be affected by increases.
 
Sinbad2000 said:
I don't understand why just about every energy company is still pegged to the cap. (Well I do - shareholder profits/greed)... but then it's a bit disingenuous to call it a cap and rather call it a regulated price?
Given what tracker rates are like, I just can't see how this is permitted by ofgem.
Click to expand...

Because the cap is basically based on the forward purchasing they have all done.
 
Fair play to the main facebook group and that octopus tracker site, they must have made so much credit from referrals they probably have free energy for a decade now. :)
 
n111ck said:
Is there any downside to this Eonnext tariff compared to staying on the SVR:

Next Pledge Tracker 12m V1​

Our Next Pledge fixed 1 year tracker tariff guarantees that your prices will always be £50 a year lower than the Ofgem price cap*. We'll update your prices automatically every three months.
£50 saving as reduced unit rates split across both electricity and gas (£25 saving per fuel).
You’ll need to pay by monthly Direct Debit and manage your account online.
No exit fees.


The only thing I can think of is that if the SVR drops below the price cap, unlikely but could just exit - and its not a fix so would be affected by increases.
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That wording seems a bit loose, someone could interpret that as a fixed assured £50 saving rather than a £50 saving for an average customer. Light usage customer the £50 might be a free month.

But I expect the asterisk disclaimer (not posted) mentions its on average cost?
 
chrcoluk said:
That wording seems a bit loose, someone could interpret that as a fixed assured £50 saving rather than a £50 saving for an average customer. Light usage customer the £50 might be a free month.

But I expect the asterisk disclaimer (not posted) mentions its on average cost?
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Yep 'average' - have moved to it as nothing to lose and our bill also happens to almost exactly match the average customer so will def save £50..


This tariff comes with 100% renewable electricity and guarantees that your prices will always be £50 a year lower than Ofgem’s price cap (for an average dual fuel customer). You’ll see the £50 saving as reduced unit rates split across both electricity and gas (£25 saving per fuel). We’ll automatically update your prices every three months in line with the price cap and give you two weeks notice of any price change. If the government’s energy price guarantee returns we'll move you back to our standard variable tariff - you’ll need to contact us if you want to stay on Next Pledge. You’ll need to pay by monthly Direct Debit and manage your account online and you also agree to have a smart meter installed where eligible. There are no exit fees with this tariff.
 
n111ck said:
Yep 'average' - have moved to it as nothing to lose and our bill also happens to almost exactly match the average customer so will def save £50..


This tariff comes with 100% renewable electricity and guarantees that your prices will always be £50 a year lower than Ofgem’s price cap (for an average dual fuel customer). You’ll see the £50 saving as reduced unit rates split across both electricity and gas (£25 saving per fuel). We’ll automatically update your prices every three months in line with the price cap and give you two weeks notice of any price change. If the government’s energy price guarantee returns we'll move you back to our standard variable tariff - you’ll need to contact us if you want to stay on Next Pledge. You’ll need to pay by monthly Direct Debit and manage your account online and you also agree to have a smart meter installed where eligible. There are no exit fees with this tariff.
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Thanks, thats just going to be ridiculously misleading to so many people who get confused by average quoted costs. Do agree though, unlike all those fixed flying around with silly £150 exit fee's this one is a better than staying on SVR option that should be very low risk. Its going to be a little below 3% saving if my maths are right (percentage goes up if cap goes down, down if cap goes up).
 
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n111ck said:
Yep 'average' - have moved to it as nothing to lose and our bill also happens to almost exactly match the average customer so will def save £50..
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£50 avg IF you are a using those 2900kw elec 12K gas , so, if they are just playing with unit price, not SC, maybe of lesser benefit if you have lower usage.
- do they have any small print, or example tarif rate to see how they do the calculation.


I'm with Octopus Agile would 'only' save me some £10/month since we can't load shift outside of the (still expensive) evening window,
tracker would save maybe twice that, but once the expensive period returns (reduced wind/solar tyoically sept/oct) I suspect I'd want to leaver for cheaper SVR, with onerous 9 month return window, and queue in prospect.
it's a poster boy tarif.
 
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