Price cap going up in april (53% or extra £693)

jem111111 said:

Yes I was surprised to see a 200% increase not the stated 53%

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Lovemyev said:

A so called 53% increase means taking half of what you pay now, and then adding that on top of you are presently paying now very simply.
If your need depressing any more, then it is predicted that it will increase by ANOTHER 20% in Oct - November this year !.
If it "Kick's Off' in the Ukraine, god know's what is likely to happen to be honest !.

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The 53% rise is based on the standard variable rate, not on your discounted fixed deal.

So coming off a fixed deal onto variable will be much more than 53%

Gomev said:

So coming off a fixed deal onto variable will be much more than 53%

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Likely coming off your fixed deal on to another fixed deal will cost much more than being moved to the variable tariff.

FlashingBlade said:

April will my 1st year anniversary with Octopus Go (13 odd p/KWh daytime and 5 p/KWh cheap rate) so emailed them about what will happen in April and what my tariff will likely be then. Here's the reply........

"Thanks for your message regarding your Octopus Energy account and the Go tariff. Although the Go tariff is a 1 year deal. We typically just extend this for customers so I have extended it for you for another year on the same prices. Hope you and your loved ones are safe and well.

Kind regards"

feels like I've won the lottery.

I must say Octopus are streets ahead of the big boys regarding customer queries and service, though they too are rapidly becoming one of the big boys.

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@Miles Roberts CG try this, worked for me.

Vipar said:

Petrol. £1.42

Derv. £1.47.

In local Harvest garage

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Just put £20 petrol in my PHEV. £1.52 pl

My deal ran out yesterday with octopus. Fixed deal was 36p a a kw/h so 8p above the cap. So didn’t go for that. (Approx £3300 a year. About 800 above variable prediction.
So went variable. But how does variable work. Does fee change for time of day or per day or per week?

Variable means they can increase the price anytime. It's called the "standard variable tariff" and it is protected not be higher than the price cap which is reassessed twice a year, October and April. All other deals which you can sign up to such as Go, Agile or a fixed rate are not covered by the price cap and fixed rates - that used to be cheaper than the price cap - are significantly now more expensive than the price cap rate.

Before the current energy price crisis suppliers moved customers on to this standard variable tarrif at the end of a fix because it was generally their most expensive, that's flipped the other way now.

Owning an EV complicates your choice of tarrif because of your higher than average use of electricity. You need to do lots of research and work out what's best for your circumstances.

I rarely charge at home so that’s just gas and electric price for running house. I had made decision to go variable then Russia attacked Ukraine and I thought maybe I’d lock in the renewal deal octopus had offered but after trying to go on the deal they had added another £1000 on top of the renewal offer originally received. So to be worth going on seal October increase will need to be a bigger increase than April increase.

The latest from a man who knows....

Hi
Regarding the shocking price of electricity if you are in the fortunate position to off set some of the cost using solar power you do have a chance to save the amount of "paid " electric you consume.
I have a fairly simple system linked to a Zappi charger, I also redirect spare power to heat an immersion heater and all the daily usage on the house

Typically each year I am saving about 1000Kwh to heat water (good for hotwater March to October)
October to March I have to uses the central heating system to warm water.

On charging the car I have only been accurately measuring this year
January saved me 24 Kwh
February saved me 30Kwh
( I am not a high mileage user 6000 miles / year)
I hope to see 100Kwh per month from April to October

The payback for the system on last years energy prices was working out at about 8 years.
As the electric prices rise the payback time will reduce

The next plan is to look at adding battery storage to mop up the remaining power, but such a solution is not cheap ?

Tyically I generate 3600Kwh per year (small system not perfectly located)

The only thing we can do is to try and control what we can in this changing world and certainly the latest solar power system help, provided that you can afford to fund the installation which typically cost from £5K upwards.

Look on the bright side the money saved buying an MG electric car may help pay for some solar kit?

I have a 6.75kw array and use that to generate around 6500 kw/year.

At a base level, with FiT, deemed export & usage I get an annual return of around 4 to 5%

Adding Zappi to charge my car provides 50% of the power needed for my car which with public charger costs equates to just under 1p per mile. This increases my total annual return to 8%.

Adding Eddi to heat my hot water uses most of the rest of the spare power increasing my annual return to around 10%

I harvest most of that energy now, exporting around 1%

In 3 years I have saved: -

£750 in FiT,
£500 deemed export
£1000 saved electric for house
£250 in hot water heating

So about £2500 in total

On top of this I have saved on the energy cost for my EV.

So in 3 years, my total energy bill for the house & car has been £276, so under £100 pa & under £2 per week.

Due to RHI my heating for the house has been free since January 2011.

Reduce, insulate, time of use, renewables, take advantage of opportunities.

Deny Russian / Middle Eastern Oligarchs their greed & wealth!

EVsince2016 said:

I have a 6.75kw array and use that to generate around 6500 kw/year.

At a base level, with FiT, deemed export & usage I get an annual return of around 4 to 5%

Adding Zappi to charge my car provides 50% of the power needed for my car which with public charger costs equates to just under 1p per mile. This increases my total annual return to 8%.

Adding Eddi to heat my hot water uses most of the rest of the spare power increasing my annual return to around 10%

I harvest most of that energy now, exporting around 1%

In 3 years I have saved: -

£750 in FiT,
£500 deemed export
£1000 saved electric for house
£250 in hot water heating

So about £2500 in total

On top of this I have saved on the energy cost for my EV.

So in 3 years, my total energy bill for the house & car has been £276, so under £100 pa & under £2 per week.

Due to RHI my heating for the house has been free since January 2011.

Reduce, insulate, time of use, renewables, take advantage of opportunities.

Deny Russian / Middle Eastern Oligarchs their greed & wealth!

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I’m very interested to hear what system you have for your heating- free since 2011 seems amazing! I currently pay £120 per month for energy- that is the previous Octopus Go tariff of 14p peak and 5p off peak and gas is about 3.7p at the moment I think. I am fully expecting my direct debit to increase to around £300 per month next winter which will cripple me. I might have to sell the car, buy an old banger and spend the remaining money on energy and petrol!!

As if 53% increase in April isn’t bad enough there could be much more on the way according to this fellow take a look
Les

lebelinconnu said:

I’m very interested to hear what system you have for your heating- free since 2011 seems amazing! I currently pay £120 per month for energy- that is the previous Octopus Go tariff of 14p peak and 5p off peak and gas is about 3.7p at the moment I think. I am fully expecting my direct debit to increase to around £300 per month next winter which will cripple me. I might have to sell the car, buy an old banger and spend the remaining money on energy and petrol!!

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I found a specialist contractor, developed a solution with them that happened to be a UK first & capitalised on it.

I have a wood pellet stove connected to a oversized reversed thermal store plus solar thermal with unusual control management.

At the time, such a system should have cost me around £30k and needed its own room! By using a pellet stove with back boiler, designed as a room heater I got the size down from room size to the size of my old oil CH boiler. The use of a thermal solar system allowed the tank to be heated on warm days thus avoiding using the room heater stove. Having an oversized thermal store allows more solar heat storage and energy balancing. It's layering enables heat input even on quite cool but sunny days even when the hot water is hot. Then new CPC solar thermal maximised input. By reversing the storage, I store treated water not what comes out of the tap which instead goes via the coil I can run showers on as low as 40C stored. Legionella is not a problem because water is not stored in a tank it just transits & as the tank will hit higher than 65C on occasions. This increased my solar thermal only days from 40 to 90, and with Eddi up to 120 per year.

The cost was a third of the usual price. Then I received RHI payments of £200 per month for many years, but my unusual way of running the system & extra insulation meant I only use two thirds of the expected pellets. As a result, I go 10 years of free heating inclusive of installation costs. Crazy really! Even now, after the grant finished fuel costs are quite low at £600 per year and as I can buy whenever prices are good, no price surges for me.

iNews: Octopus Energy is first supplier to announce customers will pay £50 below the price cap.

FlashingBlade said:

iNews: Octopus Energy is first supplier to announce customers will pay £50 below the price cap.

Octopus Energy is first supplier to announce customers will pay £50 below the price cap

Existing customers will see their bills increase to £1,921 instead of £1,971

inews.co.uk

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I have just finished watching the BBC news at 6.00pm.
The economic correspondent was reporting that as the retail price of gas is increasing SO fast, due to the situation in the Ukraine, energy prices are now likely to rise again by ANOTHER 50% at the review point due in November 2022.
As sanctions on the import supply of gas from Russia is continuing, other supplying countries are selling their gas to the highest bidder !.
It's all very scary at the moment and it's likely to get much much worse I feel !.

I've just frozen my electric prices for life at the old rates


I have bought a share in a wind turbine that on wholesale wind rates that pays back in 13 years, but at April rates pays back in just 3.3 years!

Use my link code & get £25 too!.

The process is simple, you buy a share of the windmill of between £25 and 120% of your annual need. You pay the wholesale rate plus grid / supply costs for at least 25 years. Simples.