Export tariffs - FIT, SEG, Octopus Outgoing Agile

QrizB

NedS said:

I agree with the sentiments above, but one does wonder how that sits with the rates being paid on Intelligent Octopus Flux (IOF) which has a standard day rate of 22.4p and a peak rate of 29.8p for both import and export, significantly above the current SEG and wholesale rates.

IOF is a net metering tariff. Octopus make their cut by using your battery to provide grid stability, you pay for AC/BC and DC/AC conversion losses.

QrizB

Seems Octopus are cutting their 15p export payment to 4.1p from September?

https://forums.moneysavingexpert.com/discussion/6622134/when-did-the-changes-to-seg-export-happen

debitcardmayhem

QrizB said:

Seems Octopus are cutting their 15p export payment to 4.1p from September?

https://forums.moneysavingexpert.com/discussion/6622134/when-did-the-changes-to-seg-export-happen

Their website still shows 15p today.

NedS

debitcardmayhem said:

QrizB said:

Seems Octopus are cutting their 15p export payment to 4.1p from September?

https://forums.moneysavingexpert.com/discussion/6622134/when-did-the-changes-to-seg-export-happen

Their website still shows 15p today.

I think the OP in that thread is confused. The outgoing tariff was a fixed 12 month tariff at 15p, but Octopus have written to everyone on the 12 month fix telling them it will revert to a variable tariff (still at 15p) once their 12 month fix ends (my 12 month fix ended in July). This is not the same as the 4.1p SEG tariff for export.

Basically the change allows Octopus to change the rate rather than it being fixed for 12 months.

nologo

That's what I concluded when I received  the same text, might have to buy a battery.

NedS

nologo said:

That's what I concluded when I received  the same text, might have to buy a battery.

Yes, atm the economics of purchasing a battery are dubious at best. Whilst 15p SEG rates are available for excess solar and import tariff rates not much higher (e.g, on Agile) are available - one can consider the grid as a highly efficient unlimited battery. Even a Tesla Powerwall is only 85-90% efficient, so that 15p SEG rate equates to 17.5p import price once it's been cycled through the battery.

If SEG rates were to dramatically fall (or import rates significantly rise) creating significant leverage between the two, then the economics of owning battery storage change significantly. Falling prices will drive this further.

Whilst the last 5-10 years has been a great time to own solar, the next 5-10 years may be the time to add home battery.

V2H technology may be the other game changer, whereby an electric vehicle can also be a home battery storage system on wheels. The second hand market for Nissan Leaf's might be interesting.