Energy provider and FiT payments

mrmmhf

Our existing energy provider is OVO. We pay 14.5p per kW and feed-in-tariff is registered with them.

Our DNO IS Scottish Power and they won’t fit an Economy 7 meter.

Our contract with OVO is coming to an end, and they want to increase our fee to 15.7p. I was going to shop around, and if I find a new cheaper provider does anyone know what happens to our FiT payments? Do I need to register again with the new provider?

We have an air source heat pump, so I need the best unit rate we can get.

DawnCrush

mrmmhf wrote: »

Our existing energy provider is OVO. We pay 14.5p per kW and feed-in-tariff is registered with them.

Our DNO IS Scottish Power and they won’t fit an Economy 7 meter.

Our contract with OVO is coming to an end, and they want to increase our fee to 15.7p. I was going to shop around, and if I find a new cheaper provider does anyone know what happens to our FiT payments? Do I need to register again with the new provider?

We have an air source heat pump, so I need the best unit rate we can get.

If you wish to have your electricity supply meter changed, only your supplier at the time can arrange that.
(a charge may apply)

Who you choose as your energy supplier should not affect your FiT provider.

More info on finding the cheapest energy supplier for you is available here:
https://www.moneysavingexpert.com/utilities/you-switch-gas-electricity/

More information about solar panels is available here
https://www.moneysavingexpert.com/utilities/free-solar-panels/
(in particular, refer to 'need to know' point 4; there is also a later section on changing your FiT provider if you are considering that)

ASavvyBuyer

The energy supply contract & Fit are separate contracts.

You can stay with your current FIT contract and switch energy providers.

Since we had solar PV installed our FIT contract has stayed with EDF, but have changed energy provider 3 times.

You can switch your FIT contract, if you want, but you don't have too.

Also, if you usually export more than 50% you can split off your export payments for a company that pays for actual export, rather than the deemed 50% export.

mrmmhf

Thank you that makes it clearer.

Also heard about ‘social energy’. Anyone heard of them, and is it worth looking at them?

matelodave

Like you we've got an ASHP and I cant see that E7 would be beneficial to us as the unit runs all day and sets back overnight in the winter so we go for the cheapest single rate tariff that we can find.

We've been with Eversmart at 11.5p/kwh and 22p/day since last year however our deal ends next week so we are off to a 12 months fix with Symbio at 12p/kwh and 15p/day which will cost us another £10 a year on our 7000kwh/pa consumption.

DawnCrush

mrmmhf wrote: »

Thank you that makes it clearer.

Also heard about ‘social energy’. Anyone heard of them, and is it worth looking at them?

Nope, never heard of them.

But that's not really a surprise, is it?

I see they were previously called Dirac Energy Supply Ltd up until Oct last year, and were dormant until at least then.

Not found them on any ofgem accredited comparison site yet.

Their website only seems to have been created last month.

They also have or had a director who was also associated at some time with the following infamous energy suppliers:

GB Energy Supply Ltd - in Liquidation
Future Energy Utilities Ltd - Dissolved
Our Power Energy Supply Ltd - in Administration
Brilliant Energy Supply Ltd - in Administartion
Oneselect Ltd - in Administration
Snowdrop Energy Supply Ltd - in Liquidation

So how did you hear of them???
Connected to them in any way???? :huh:

:cool:

mrmmhf

No, not connected in any way. They sound like a horror story. Well researched! Will stay clear of them.

You would have thought the director in question would have come to the conclusion by now that energy wasn’t his thing.

I came across their name on a renewable energy forum, but no one had heard of them.

Will look at Eversmart and Symbio. Those are great tariffs.

mrmmhf

I'm looking seriously at Octopus Energy - anyone have an opinion? This is their electric car tariff, which would be great for my ASHP.

Off-peak unit rate (00:30-04:30):

5.00 p / kWh

Peak unit rate (04:30-00:30):

14.63 p / kWh

Standing Charge:

25.00 p / day

mrmmhf

This may seem like an obvious question, but when I look at tariffs from electricity providers, what does "Variable" mean? Will this be a fixed rate or will it vary as per its name?

Gerry1

'Variable' means that the prices can change at any time but usually also that you can leave without any penalty at any time. Can be useful if you think prices may fall, or if you are nervous about an unknown supplier's customer service.

mrmmhf

Guess that means prices can also shoot up. I'm thinking we may switch to Bulb.