It does seem like a grim time to be changing. I’ve done some more searching and for us EDF are offering 15.9 and Neon Reef who used to offer 12 are now 17 so they all seem to have hiked their prices recently. 

How much time do you have to make a decision as it might be worth holding out if you can and see if the prices settle.

Hi Mars,

I don't know what to suggest about finding a reasonable tariff, though I am surprised that there appears to be quite a difference in prices around the country.

As for the reasons why prices are rising I cannot say for definite, but it could be one or more of the following.

As the country starts to open up after the pandemic, demand will be increasing.

Companies may have lost revenue during the pandemic and are trying to balance the books.

As with the gas network replacing old pipes, the electricity network needs to be upgraded to cope with additional demand from electric vehicles and ASHP's.

Quite a number of high capacity undersea cables are being installed from North to South and to other countries. Undersea cables are more expensive than overland pylons, but getting the necessary permission for pylons can take ages since no one wants a pylon in their backyard.

The cost of building the renewable energy sources are higher than the equivalent fossil fuel energy sources being replaced. I remember watching a documentary several years ago concerning SSE, who at the time owned Ferrybridge 'C' Power Station, which was a 2000MW coal fired power station which was due to shutdown. SSE had just completed the construction of a windfarm in the North Sea with a maximum output of 80MW, at a cost of £1 billion. Replacing the coal fired power station with one of similar size would have cost about the same amount. More available wind capacity is required compared to fossil fuel generation to ensure that demand can be met at all times.

When I spoke with my friend recently who works for National Grid, I was surprised to hear that peak demand is now occurring in the Summer rather than the Winter. Probably due to air conditioning and the charging of electric vehicles.

Someone has to pay for all of the above. Guess who?

Yup, all the cheap rates have gone now, even Symbio.  I just signed up for a fixed rate at over 16p, from an E7 deal at 11.7/7.6.  Ouch!! 

At least for me the ASHP will still be cheaper than the NSHs it replaced.  And better.

I am in the process of switching to Octopus Go - 5p for 4 hours a night and 15p for the rest of the day. This just highlights for me the need for solar to offset and batteries to store that energy. The FiT means I get 5.5p for my exported power, which is just sold by the power company for 15p immediately. They get more than I do, for the power I make!!

Hi Mars,

As Batalto stated above, Octopus Go tariff is 5p/kWh for 4 hours (00:30 to 04:30) and 15.18p for the rest of the day, with a standing charge of 25p per day.

Posted by: @editor

@derek-m, just got a quote from Avro. 18.5p / kWh. I can see us struggling to get lower than this.

What has caused wholesale electricity prices to go up so much?

@editor

You posted it’s arrival.

https://renewableheatinghub.co.uk/forums/other-renewables/electricity-and-gas-price-hike#post-1732

Posted by: @derek-m

Hi Mars,

As Batalto stated above, Octopus Go tariff is 5p/kWh for 4 hours (00:30 to 04:30) and 15.18p for the rest of the day, with a standing charge of 25p per day.

That's a good deal that I wouldn't expect to last (but what do I know?).  You do need a smart meter though, which Octopus can organise. 

Hi Kev

What are the main benefits of having the lower rates during the early hours, while we are asleep, apart from maybe charging an electric vehicle? 
Or does it just help reduce the electricity bill overall per day, with a tariff of 5p & then 15.18p for the rest of the day? 

@info   Apart from, as you say, charging EV's the only other thing I can think of is timing the washing machine and dishwasher to operate during those times.  In my circumstances I don't perceive any other advantages.  I stand to be corrected.

@morgan @info - for me, I will run my ASHP to do hot water and pre-charge the house with heating during those hours. Also I have a 14kwh battery which I will fully fill in the winter months as it will be used to the maximum.

Blending the usage will lower my over all cost per kw across the day and mean that hopefully I can avoid using too much power at 15p with my solar

Info/Morgan,

Most days, the outside temperature falls gradually overnight, and is at its lowest just before dawn. The efficiency of ASHP's starts to reduce at ambient temperatures below +5C, and become less efficient the lower the temperature. Not only in Winter, but also in Spring and Autumn, the overnight temperature can fall below +5C.

It would therefore probably be more efficient and cost effective to run an ASHP to boost the temperature in all the rooms, except the occupied bedrooms, by one or two degrees during the 00:30 to 04:30 period, so that the ASHP has less work to do during the coldest part of the night.

We are using the same principle at the moment, but running our ASHP during the day when it is powered by our solar PV system, so that no heating is required overnight, even when the outside temperature falls as low as 10C. 

@batalto 

If we have

If we have an ashp (but no solar), is it possible for us to store heat generated from the early hours in a battery & use this later in the day, or are batteries only used in conjunction with solar panels & ashps? Thank you.