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Electricity price predictions

MattEngineer · 2021-12-03T18:39:26Z

When the energy cap comes up for renewal I think it will rise to 26.5p per unit, any thoughts of the collective?

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Electricity, Tariffs, Monitoring & Providers

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MattEngineer

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Topic starter 03/01/2022 7:55 am

@kev-m

Sorry for context in my response I wasn’t talking about the national grid. Long term investment decisions and short term political ambition rarely mix well.

I was considering energy resilience at a local domestic level. I.e. your own home.

A large enough solar array would take care of the summer, battery storage and wind turbine (not withstanding location etc) would support winter usage.

The biggest challenge is heating, domestic electrolysis for H2 during the summer but storage at scale I.e. 20,000 kw. It would open up CHP plants which could support winter elec consumption.

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Kev M

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03/01/2022 9:39 am

Posted by: @mattengineer

@kev-m

Sorry for context in my response I wasn’t talking about the national grid. Long term investment decisions and short term political ambition rarely mix well.

I was considering energy resilience at a local domestic level. I.e. your own home.

A large enough solar array would take care of the summer, battery storage and wind turbine (not withstanding location etc) would support winter usage.

The biggest challenge is heating, domestic electrolysis for H2 during the summer but storage at scale I.e. 20,000 kw. It would open up CHP plants which could support winter elec consumption.

Yes I was referring to the national grid. I agree with your comments about individual domestic situations and am looking into PV for us as we speak.

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Mars

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03/01/2022 5:23 pm

An interesting article from Graham Hendra about energy consumption and tariffs. He shares a few thoughts with @derek-m about the extortionate price of energy helping to drive down consumption: https://renewableheatinghub.co.uk/does-having-a-heat-pump-automatically-make-you-green

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Mars

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08/01/2022 8:41 am

Latest rumblings I’m gearing that electricity tariffs could hit 35p/kWh in April, which quite frankly is horrifying for heat pump owners.

I’m not a policy expert but the UK government taxes energy bills to the tune of £9 billion a year (about £300 per household) making energy bills are far higher than they need to be.

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MattEngineer

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Topic starter 08/01/2022 11:56 am

@editor

Hi Mars,

I think that is the top end of guidance but possible. I personally can’t see gov removing subsidies or reducing the Vat rate. Targeted support and expansion of the warm home grant to include those on certain benefits however is entirely likely.

Given the lowest income quartile spend a larger amount of their budget on energy, last figures I saw were c13% (before price cap changes) the gov will feel there supporting those in most need.

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Kev M

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08/01/2022 2:15 pm

Most of the reports are saying £2000 where it's currently £1277. That would make the rate about 32p. I'm not expecting any help personally. I assume gas would go up by a similar amount.

It's a difficult message but I think saving energy, turning thermostats down, etc. needs to be brought up.

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heat-pump-newbie

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08/01/2022 2:31 pm

I've just signed up for 30.78p /kWh for 1 year from end of Feb. Just going to have to wear even more clothes !

I'm with OVO

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Mars

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08/01/2022 2:34 pm

@heat-pump-newbie, who did you sign up with?

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heat-pump-newbie

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08/01/2022 2:40 pm

I'm with OVO, I've been happy with them for years. I'm not into all this shopping around for the cheapest deal. It hasn't worked out for those companies that have now gone out of business.

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Mars

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08/01/2022 2:45 pm

@heat-pump-newbie, we used to be with OVO – their customer service is excellent.

Get a copy of The Ultimate Guide to Heat Pumps

Subscribe and follow our Homeowners’ Q&A heat pump podcast

👍

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batalto

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08/01/2022 5:02 pm

@editor currently in the process of working out my battery expansion for next year. I fully expect to be adding something like 20-30kwh to my storage and taking advantage of low prices at non peak hours. I can't see any other effective strategy for a heat pump. My battery saved over £600 last year and I'll be more this year with the ASHP installed for the whole year.

12kW Midea ASHP - 8.4kw solar - 29kWh batteries
262m2 house in Hampshire
Current weather compensation: 47@-2 and 31@17
My current performance can be found - HERE
Heat pump calculator spreadsheet - HERE

👍

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MattEngineer

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Topic starter 08/01/2022 5:33 pm

@batalto

I’m converted, every unit I can draw from a battery will save me 20p. Just trying to find the right solution and installer. Had a look at the sofar and pylontech but it only recommends 80% D.O.D and some of the reviews aren’t great on customer service. Did you ever look at Victron, they make some very impressive equipment although at a price.

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