Ripple Energy wind farm?

QrizB

mgfvvc said:

Exiled_Tyke said:

But I can't see a company such as Octopus making a refusal to take a customer on the capped tariff who needs it for the Ripple offer.

The Octopus Energy website won't even show me their rates. That does not give me confidence.

https://octopus.energy/tariffs/ should work for everyone. Ignore the Octopus-coloured button and enter your postcode, then  filter as you choose.

mickyduck55

I have decided I am in.. like the batteries not sure it will ever be a sound investment but "I like the idea"

70sbudgie

I think it is the customer agreement (again), but Ripple have said that they don't recommend changing your electricity supplier now. You only have to be with a partner supplier before the windfarm goes live - so around the end of 2023. They are also working on partnering with one of the Eon companies, so it is quite possible that the selection of available partners is much better by the time a switch is required.

I also think that Octopus is currently trying to avoid taking on new fixed tariff customers (because buying electricity for a fixed tariff now doesn't fit with their ethics?), so they have made their tariffs more difficult to find.

The philosophy I have and that I have shared with friends and family that I have spoken to about Ripple, is that this investment helps facilitate the construction of more renewable generation. At some point in the future (that I hope will be within the lifetime of this windfarm, but in all likelihood, won't) there will be sufficient renewable generation on the grid that the wholesale price of electricity will become decoupled from the price of gas (essentially the gas generators will be completely pushed out of the market). When this happens, the wholesale price of electricity will drop significantly and investments like this will be less financially lucrative. But investing in things like Kirk Hill will bring forward the date this happens. So if you are purely motivated by financial returns, it might not be the investment for you (short term versus long term returns need to be considered).

Personally, I am more interested in facilitating the connection of renewable energy than I am in the massive financial returns that currently seem too good to be true.

For disclosure, I work and am very interested in the energy industry.

mgfvvc

The share offer seems to have been extended to the start of May. I have bitten the bullet and bought shares equivalent to about 115% of my consumption.

ed110220

mgfvvc said:

Exiled_Tyke said:

But I can't see a company such as Octopus making a refusal to take a customer on the capped tariff who needs it for the Ripple offer.

The Octopus Energy website won't even show me their rates. That does not give me confidence.

I think pretty much all the providers are going to be charging the maximum allowed under the cap and no-one in their right mind is switching at the moment, so I wouldn't read too much into it.

Petriix

ed110220 said:

mgfvvc said:

Exiled_Tyke said:

But I can't see a company such as Octopus making a refusal to take a customer on the capped tariff who needs it for the Ripple offer.

The Octopus Energy website won't even show me their rates. That does not give me confidence.

I think pretty much all the providers are going to be charging the maximum allowed under the cap and no-one in their right mind is switching at the moment, so I wouldn't read too much into it.

This is true, except for EV owners who should likely all be switching to Octopus. There is also the £50 joining bonus if you use a referral link. 

ey143

ed110220 said:

mgfvvc said:

Exiled_Tyke said:

But I can't see a company such as Octopus making a refusal to take a customer on the capped tariff who needs it for the Ripple offer.

The Octopus Energy website won't even show me their rates. That does not give me confidence.

I think pretty much all the providers are going to be charging the maximum allowed under the cap and no-one in their right mind is switching at the moment, so I wouldn't read too much into it.

Pardon my ignorance but why do you say nobody in their right mind would switch at the moment?  Isn't the capped tariff available for anyone to switch to at another provider (even if it's offered by their current provider)?

Exiled_Tyke

ey143 said:

ed110220 said:

mgfvvc said:

Exiled_Tyke said:

But I can't see a company such as Octopus making a refusal to take a customer on the capped tariff who needs it for the Ripple offer.

The Octopus Energy website won't even show me their rates. That does not give me confidence.

I think pretty much all the providers are going to be charging the maximum allowed under the cap and no-one in their right mind is switching at the moment, so I wouldn't read too much into it.

Pardon my ignorance but why do you say nobody in their right mind would switch at the moment?  Isn't the capped tariff available for anyone to switch to at another provider (even if it's offered by their current provider)?

In theory yes.  But rumours are that most providers aren't accepting new customers on the capped tariff as they are losing money on them. So most of the only possible switches are onto fixed rate tariffs which are relatively expensive. 

PickledPeppers

Can’t make my mind up about this, and came to this thread hoping to be pushed one way or the other! Seems I’m not the only one. Our local authority has just started the Solar Together scheme and I’m waiting for costings. Trying to decide if taking £1,500 out of the pot we’ve managed to put aside for solar would be a good idea. I’m thinking the wind blows in autumn and winter when the solar panels don’t perform. So there’s something pleasing about a year-round greener, money-saving set up.
Valid point above about elec eventually being decoupled from gas, though you’d still be getting Ripple elec at wholesale price so the margin will still be there. And if during that time you have added energy saving/generating improvements there’ll be more leftover electricity credits to be cashed in.
Just need a nudge either way….

Exiled_Tyke

PickledPeppers said:

Can’t make my mind up about this, and came to this thread hoping to be pushed one way or the other! Seems I’m not the only one. Our local authority has just started the Solar Together scheme and I’m waiting for costings. Trying to decide if taking £1,500 out of the pot we’ve managed to put aside for solar would be a good idea. I’m thinking the wind blows in autumn and winter when the solar panels don’t perform. So there’s something pleasing about a year-round greener, money-saving set up.
Valid point above about elec eventually being decoupled from gas, though you’d still be getting Ripple elec at wholesale price so the margin will still be there. And if during that time you have added energy saving/generating improvements there’ll be more leftover electricity credits to be cashed in.
Just need a nudge either way….

Well I've been very sceptical about this and  very critical on these boards. There's a lot about the scheme which was putting me off and as pure investment opportunity I am still not convinced. However I'm now eating my words because the world has changed.  We don't know what is going to happen to energy prices and the current crisis could be over by the time this comes on stream. However I now see this as a very attractive hedge against such uncertainty.  At worst I should get a few quid off my bills which won't exactly make me a fortune but should pay for itself.  At best the protection this offers from an uncertain world could be very welcome indeed and just possibly could save me a fortune.   I don't share some pessimistic views that it could all be a complete failure as a reason to not get involved. Buying any shares carries risks and the offer document for this looks to have addressed the main risks pretty well.  I also do like to know that in a world of gas guzzling (and all the environmentally unfriendly things I have done) this is something positive.   Therefore after a lot of deliberation I would like to declare that I am in (against all the odds!).

However that's my decision. We aren't here to nudge you or recommend. You need to weigh up the pros and cons for you and reach your own decision.