Npower price rise and FIT

CeriSkinner

We heard last week about npower's plans to raise their cost of electricity by 15%. We're on a fixed tarrif so that won't affect us immediately, but we're also with their FIT team for our solar panels.
Our question is whether that raise will affect this:
If the cost of electricity is going up, will they increase the amount that they pay us when they buy back surplus electricity from what we generate? If not, why not?
Thanks!

molerat

Export tariff rates are set by legislation and not the energy companies.

https://www.ofgem.gov.uk/environmental-programmes/fit/fit-tariff-rates

nPower

CeriSkinner wrote: »

We heard last week about npower's plans to raise their cost of electricity by 15%. We're on a fixed tarrif so that won't affect us immediately, but we're also with their FIT team for our solar panels.
Our question is whether that raise will affect this:
If the cost of electricity is going up, will they increase the amount that they pay us when they buy back surplus electricity from what we generate? If not, why not?
Thanks!

Hi CeriSkinner

Thanks for your post. As correctly advised by molerat, this is a government scheme which is set independently by Ofgem so there will be no changes to your FIT account.

Thanks

Jade

constantworrier

I've just received a letter from NPower telling me about price increase and also before I didn't pay standing charge but now that's changing and I will have to pay standing charge. Time to compare I think !!