Is the party over (pt2) - End of high fixed price export tariffs?

[-rick-]

Looks like E.On have removed their 16p export tariff, with higher value export tariffs now only available if you either have a new e.On installed solar system or don't want an EV tariff on use.

 

https://www.eonnext.com/electricity-and-gas/smart-export-guarantee

 

The beginning of the end for the more generous export tariffs?

[Dillsue]

According to our latest bill, our 15p export rate from Octopus is "guaranteed" until next June. How watertight that guarantee is or what happens next June, I don't know!

[Beelbeebub]

There was one YTer who sat in on the latest Octopus "webinar" and apparently the question was put to the octopus CEO. 

 

The answer was it [getting rid of the 15p export] wasn't something they were looking at or had plans to look at. 

 

Of course he could be lying or they might start looking at it tomorrow. 

 

But there isn't much we can do about it. The 15p rate seems to be too good to be true and it will probably have to go - or at least go if you have an extra cheap rate well below the 15p eg EV tariff. 

 

To be fair, banning the ev tariff lot isn't a terrible thing. There were people exploiting it a bit (one YT guy has a couple of tesla batteries to exploit the rate difference). 

 

The best thing is not to build your financial case on high export rates but on self consumption. Treat the high export as a nice bonus. 

[Marvin]

4 hours ago, Beelbeebub said:

The best thing is not to build your financial case on high export rates but on self consumption. 

Yup.  Nothing that is not in your control is in your control and things that are in your control will soon not be.

[JohnMo]

6 hours ago, Beelbeebub said:

The 15p rate seems to be too good to be true

Why, they give you 15p, then immediately charge your next door neighbour nearly double that. Pretty good money making scheme.

[JamesPa]

17 minutes ago, JohnMo said:

Why, they give you 15p, then immediately charge your next door neighbour nearly double that. Pretty good money making scheme.

True, but market leading (which is why I signed up for a year).  Eon next drive v5 was similarly market leading.  Others didn't follow so guess what, eon have cut their lead (to the point where it may even make sense for me to instal a battery). 

 

Twas inevitable unless others followed, which they didn't.  Good while it lasted though!

 

My guess is that rates will be all over the place for some years, as the companies continually readjust to shifting demand patterns.  Eventually they will settle down when demand stabilises in a more or less fully electrified model.  That's 20+ years hence and, in the meantime, customers who are flexible will be rewarded.  We live in interesting times!

Edited 22 hours ago by JamesPa

[Beelbeebub]

21 hours ago, JohnMo said:

Why, they give you 15p, then immediately charge your next door neighbour nearly double that. Pretty good money making scheme.

Yeah but they give you 15p all the time even when they could be buying it at 1p wholesale.

 

It also aids predictability. 

 

I know that I will get paid 15p for every kwh I export and it will cost me 13.4p for every E7 kwh I import . Given losses the two prices are essentially the same and I can effectively use the grid as an extension of my battery.

 

It makes planning easy. 

 

I don't have to worry about onky partially filling my battery to maximise self use. Or what the weather will be. 

 

If if fill up 10kwh (£1.50) and the excess solar was 4wkh (60p) it cost the same (90p) as if I fill up 6kwh (90p) and exported nothing.