Posted by: @editor

@witchcraft, what’s the new tariff likely to be? Around 21p/kWh?

Flexible Octopus (which is the price capped rate) is still around 21p if you have the same rate 24x7. Different capped rate for economy 7. Varies slightly by region. 

This would be the rate users get if they don't choose another fixed term by default.

I assume it is only available for existing customers.

You can type your postcode in the Octopus website to get the Flexible rate tariff costs and the other tariff costs. 

@Jeff Isn't that open though to a big old price rise when the Gov't alter the cap in the New Year? At least (and its a tiny crumb of comfort) I am now on a fix for the next 12 months

Posted by: @witchcraft

@editor Much worse than that!  This is with a loyal customer discount, the basic GO tariff is worse

Day rate	29.36p per kWh
Night rate	15.36p per kWh
Standing charge	24.10p per day

Is this a fixed 12 month tariff or the Flexible Octopus ofgem price capped rate for you? 

@Jeff 12 Month fixed rate

Posted by: @witchcraft

@Jeff Isn't that open though to a big old price rise when the Gov't alter the cap in the New Year? At least (and its a tiny crumb of comfort) I am now on a fix for the next 12 months

 

The current assumptions are up to 30% increase in the price cap in April

Obviously impossible to know which will turn out best.

I don't know whether you would be better off going for a cheaper rate over winter and see what happens as April approaches.

Perhaps piece of mind is worth it. 

Posted by: @jeff

Posted by: @witchcraft

@Jeff Isn't that open though to a big old price rise when the Gov't alter the cap in the New Year? At least (and its a tiny crumb of comfort) I am now on a fix for the next 12 months

 

The current assumptions are up to 30% increase in the price cap in April

Obviously impossible to know which will turn out best.

I don't know whether you would be better off going for a cheaper rate over winter and see what happens as April approaches.

Perhaps piece of mind is worth it. 

I can't see Octopus offering a fix that they think they will make a loss on.  That's what all the smaller suppliers did and look what happened to them.  I think the fix is a the very high end of where they expect prices to be. 

I think it's worth going variable over winter as you'll be saving nearly 10p/kWh compared with a fix.  That's a lot of money for an ASHP user. You'd have to have the next winter at 40p/kWh to wipe that out and I can't see that happening.  

I agree with @jeff and it's currently looking like 26-27p after April. 

I didn't state it on my post earlier, but in 2020 I used 3,600kW of gas in November. This year it was 1,060kW of electricity. Obviously the weather is a factor, but interesting to compare

Posted by: @batalto

I didn't state it on my post earlier, but in 2020 I used 3,600kW of gas in November. This year it was 1,060kW of electricity. Obviously the weather is a factor, but interesting to compare

Really useful comparison.

Thanks

Posted by: @jeff

Posted by: @witchcraft

@editor Much worse than that!  This is with a loyal customer discount, the basic GO tariff is worse

Day rate	29.36p per kWh
Night rate	15.36p per kWh
Standing charge	24.10p per day

Is this a fixed 12 month tariff or the Flexible Octopus ofgem price capped rate for you? 

These kind of rates make batteries a no brainer. 14p per kW. 10kw batteries pay out £1.40 a day of charge. Ignoring solar say you use them for 150 days (5 months from October to march) that's £210 a year. Then you get all the free energy over the shoulder and summer months.

If you can get the batteries at a decent price with a good inverter you could easily use a 5kw inverter over that period to store up to 35kW.

Just changed to their flexible rate, still at eye-watering @ 22.52p day rate and 14.54p night rate - Ouch.  My Powerwall due in January can't come soon enough

After a further long chat with Octopus I am back on a Go fix at 24p/kWh day and 5p/kWh night again.  Still a big old increase but much nicer than the mad quotes they gave me on Tuesday.  (Still looking forward to the Powerwall)

@witchcraft 

that's not bad, especially with batteries.  I've just given my first reading to my new supplier BG at 20.3p/kWh and 23.8 standing.