Ripple Energy wind farm?

QrizB

TCA said:

QrizB said:

Prices at the moment are exceptionally high; how long they last into 2022 remains to be seen.

Energy suppliers buy their energy in advance, so fixing prices into the future isn't anything new. It's normal practice for buyers and sellers, regardless of where current prices are.

I expect we'll find out when the first WT1 co-op members start getting their Octopus discounts.

superbob_2000

To those who have signed up, are you not nervous that currently you won't be able to change power companies? 
Just think how far this market has come in recent years and to be potentially locked to one company for 25+ years seems a huge gamble. 
What are your thoughts please? 

TCA

I'm not signed up but it's a valid concern. On the positive side I'd say Octopus are probably the best run energy supplier out there, they're innovative and have significant backing. I'd imagine it's in their own interests to keep their tariffs competitive but if that wasn't the case the co-op could sell their energy to someone else. Ripple seem to be trying to sign up more suppliers.

Verdigris

I was less worried about being locked to Octopus 3 months ago being as Ripple were talking to other suppliers. Now many of those potential suppliers have gone the picture looks a bit different. I think the fact that a significant portion of the supply industry is using Octopus' Kraken software could mean other Kraken users would easily be able to assimilate the Ripple payments. I suppose it depends on whether they see any marketing advantage in offering to service the payments. I assume the supplier gets a small cut to cover their costs.

Coastalwatch

superbob_2000 said:

To those who have signed up, are you not nervous that currently you won't be able to change power companies? 
Just think how far this market has come in recent years and to be potentially locked to one company for 25+ years seems a huge gamble. 
What are your thoughts please? 

Every investment has it's risks but as for this being a huge gamble I don't find it so. We are comfortable in having made the choice that suits us. Where else could you get your own source of renewable energy supply at a wholesale cost of circa 2p/kWh locked in for the next 20 - 25 years!

Even working out the cost of energy from our solar panels over their anticipated output over 25 years comes in at 4.4p kWh. Admittedly if I assume an export return of 5.5p(about the best on offer currently) for 50% of output the figure does come down, but only to 3.38p/kWh, so still adrift!

For now we shall be tied in with Octopus and have no problem with that. Should they prove uncompetitve in a couple of years time then it's likely other Utilities/options are likely to arise and as Octopus have no penalties for leaving before a fixed term is up then it's not something that troubles me.

As I always say, you pays your money and takes your choice. Or not, as is applicable.

Verdigris

And you are locking into a concrete (and steel/carbon fibre...) asset with a guaranteed working life of over 25 years. Buying shares in some corporate entity, whose policies you agree with now, may not look so ethical a change of Chairman/CEO down the line.

Remember when Google used to do no evil?

NigeWick

superbob_2000 said:

To those who have signed up, are you not nervous that currently you won't be able to change power companies? 
Just think how far this market has come in recent years and to be potentially locked to one company for 25+ years seems a huge gamble. 
What are your thoughts please? 

Nope. I was with Octopus before the wind turbine was offered. Octopus is like the Tesla of utility companies in that its boss is future thinking. Ripple will be trying to get other companies on board too.

superbob_2000

NigeWick said:

Nope. I was with Octopus before the wind turbine was offered. Octopus is like the Tesla of utility companies in that its boss is future thinking. Ripple will be trying to get other companies on board too.

I agree, Octopus are great. I've been a customer for the last 3 years.
However things can change quickly and to think they'll remain a leading provider is a leap of faith.
5 years ago the darling of new power companies was Bulb....

Ripple so far hasn't managed to get anyone else on board yet, there must be a reason they are reluctant to join the scheme.
Possibly it's just a load of admin on their side for 1 turbine, but if so why would this improve in the future.

If more companies join (especially Big 6), I'll sign up.

2nd_time_buyer

"Possibly it's just a load of admin on their side for 1 turbine, but if so why would this improve in the future."

... more turbines?

Swan_Valley

Rate now confirmed by Ripple for the 1st year of generation:

"Even bigger bill savings: 9.5p/kWh in the first year

We're sure you are all aware that the wholesale cost of electricity has gone up substantially in recent months. We are very pleased to let you know that we have secured a price for the first year of generation that reflects that trend. We had communicated to you in September last year that your savings were projected to be around 8p for every kWh generated by your share of the wind farm. We can now confirm you will now receive about 9.5p saving on your bill per kW/h. This means that a member whose share of the wind farm generates 2,900kWh will get a saving of about £275 on their bill in the first year. That is more than triple the expected first year saving when we first launched the coop share offer! "

However, start date now predicted to be 1st week of March.

"Graig Fatha switch on date: first week of March"