Octopus Energy reviews: Give your feedback

Telegraph_Sam

Give the man credit, I think that is not a bad effort in the circs. But it's more the medium term that interests me and it looks like the "trend" (ignoring the blips) is constant or mildly declining? I should be happy to live with anything below 15 and if it gets near to 10 then I'm laughing.

masonic

Telegraph_Sam said:

Give the man credit, I think that is not a bad effort in the circs. But it's more the medium term that interests me and it looks like the "trend" (ignoring the blips) is constant or mildly declining? I should be happy to live with anything below 15 and if it gets near to 10 then I'm laughing.

It's easier to make predictions about tomorrow than next month. The trend in wholesale prices predicted the surge we are now seeing. In fairness, tomorrow's peak wholesale price is near £1.70/MWh, up from £1.06/MWh today, which would not have been easy to predict, but you have to question the value of a model that predicts 68p when the actual price is £1.67. Perhaps energy prices are harder to forecast than the weather.

If by 'medium term trend' you mean seasonal trend, then it is generally reasonable to expect a dip in the summer, when usage is typically lower and solar generation is highest. Surges in price like this one have tended to be associated with cold and settled weather.

Telegraph_Sam

I can't complain if there's a dip in the summer ..

silverwhistle

I expect ups and downs with Agile but tomorrow really is appalling! Is there any reason beyond lighter winds? Relaxing of lockdown having any impact?

Thank goodness for solar panels as I was exporting a decent amount to late in the afternoon/early evening. I shall be putting off charging the car for a few days unless I get some uninterrupted sun so that I can get the granny charger out..

Telegraph_Sam

I forget the differences between Agile and Go / Go Faster.  Will the latter people be similarly affected?
I can see a conflict between the incentive to use solar panel electricity just at the time when Agile is at its most expensive (my panels face SW)

masonic

Telegraph_Sam said:

I can see a conflict between the incentive to use solar panel electricity just at the time when Agile is at its most expensive (my panels face SW)

Why would that be a conflict?

MWT

bristolleedsfan said:

Yes those who plug TOU Agile tariff, never ever mention that high rates can be off peak hours as well as 4pm-7pm, it occured  during January as well

Irony is the phrase "What you are failing to mention "

https://forums.moneysavingexpert.com/discussion/comment/78183753/#Comment_78183753

The rates simply reflect the wholesale rate so if that is high then the Agile HH rate will be high, but still capped at a maximum of 35p/kWh so no danger of a 'Texas' situation.

The 4-7pm period is always called out as it is artificially high not only because of the wholesale rate as it includes an additional modifier which in part reflects charges that only apply during that time period, but also as an encouragement to shift usage to cheaper periods.

Telegraph_Sam

"Why would that be a conflict?"

Agile would want to shift my consumption away from 4 - 7
This is (partly) the time that my solar generation would be at its most efficient - I don't have a solar battery.

masonic

Telegraph_Sam said:

"Why would that be a conflict?"

Agile would want to shift my consumption away from 4 - 7
This is (partly) the time that my solar generation would be at its most efficient - I don't have a solar battery.

You wouldn't pay for energy generated by your solar panels. Therefore it is better if you have efficient solar generation during 4-7 as you wouldn't need to shift as much of your consumption.

Telegraph_Sam

Motivation is to shift consumption to 4 - 7 in order to benefit from peak solar energy while it's being generated. But any "excess" would incur peak Agile rates.  Thankfully being on Tracker I don't have this conundrum.