Electric Vehicle - Octopus Go vs Agile

rjmachin · 26 July 2020 at 5:28PM

Hi,
Currently on Avro (Simple & SuperFixed until May 2021), where the electric unit rate is 12.994p and standing charge is 14.7p per day.
I am taking delivery of an electric vehicle in a few weeks time and trying to work out if I can take advantage of overnight cheaper rates to charge it.
I currently have a standard single rate meter, so would need a smart meter I believe.

My current usage for electric is approximately 7700 kWh per year. £1054.19 per year (£87.84 per month).

Based on my current mileage (800 per month) and electric unit rate, I estimate my additional usage for charging will be 180 kWh per month, 2348 kWh per year. Roughly £25 per month on my current Avro tariff.

I have looked at Octopus, seen both the Go and Agile tariffs. I understand i would have to become a customer first on an interim tariff, apply for a smart meter, wait for it to be accepted and fitted, then request to change to either Go or Agile tariffs.

The cheapest Octopus interim tariff (fixed) is currently 14.595p per kWh and 21.43p standing charge, so this is a big increase while waiting for a smart meter. Any ideas how long it takes for a smart meter?

If I were to get on to the Octopus Go tariff, lets say the current 7700 kWh at the day time price (although ideally some things could be moved (dryer etc) to night time for cheaper prices) and the 2348 kWh for charging at night time, the day time would cost £1147.69 (units + standing charge), and night time would cost £117.40 (unit only), totalling £1265.09 (£105.42 per month)

Staying on my current tariff, it would cost £1359.29. So depending on how long a smart meter takes, the first year on the Go tariff may be more expensive (including the interim costs), but after that, it should save money.

Agile seems harder to predict as it depends on the wholesale price.

I would be interested to know your thoughts on whether changing to Go or Agile is worthwhile?
According to energy stats, 4pm - 7pm has had a unit price of approx 21p per kWh and the rest of the day approx 6p per kWh.

MWT · 26 July 2020 at 6:27PM

Firstly, consider moving to the 'Tracker Tariff' at Octopus while you wait for the smart meter, it is a lot cheaper than the other standard tariffs and is a half-step towards Agile but doesn't need a smart meter.

Secondly when choosing between Go and Agile the key factors are...

Will you charge your car every day and will you be able to do that within the 4 hours when power is cheap?

If so then Go may be a good choice for you.

With Agile a lot depends on what you use during the peak period from 4pm-7pm, if you are a heavy user in that period then Agile may not be for you, but if you are a light user at that time of day and perhaps don't need to charge the car every day then Agile may suit you better.

I am on Agile and my typical average unit cost per kWh is around 8p, although this last month that has dropped to 6.9p.

Jojomissy · 26 July 2020 at 6:35PM

I have been on Go, then our electric vehicle was delayed so I moved to tracker so was used to following my energy use closely.
We then was notified our electric vehicle was ready and my son also had one delivered the same week.

I moved to agile and love it. I put my dishwasher and washing machine on when it is cheap rates. It also means if one car wants to charge overnight, there is still time to charge the other the following day as the rates are still cheap at times.

If you can avoid between 4-7pm it is a great tariff. I avoid using the oven, kettle, washing machine during those times and obviously charging the car.

Our rates today have dropped as low as 3pkwh at times. If the weather is sunny and windy there have been times when it drops to minus so Octopus pay you to use as much as you can.
I am loving it, you know the day before what the prices are so can prepare.

MWT · 26 July 2020 at 6:40PM

I'd also add that we still use the electric cooker between 6-7pm so although we avoid other high energy devices in the 4-7pm period we haven't let it rule our lives either and we still hit the low cost numbers in my post above...

rjmachin · 26 July 2020 at 7:16PM

Thanks for the feedback. I will take a look at the tracker tariff (is that the Flexible Octopus?)

I'm getting a home charger fitted hopefully in the next few weeks. The car and charger allow schedules so l could easily set it to charge during the 00:30 - 04:30 period. I drive 40 miles per day to commute to work (only 2 days a week at the moment, but when we return to normal, 5 days a week) and the car range average is 186 real world, so won't need to charge everyday, perhaps 2 or 3 days a week to top up.
I think we are classed as higher than average at 7700kWh.
Electric cooker/oven/microwave is used for Tea at around 5/5:30pm.
Heating/hot water is all boiler based, so no electric there.
My mum & dad lives with me (sort of rent free lodger

), and dad is retired, so TV, light, laptop is on during the day etc.