Best UK Electric Unit Rates currently?

themaidenmaniac

Hey guys. Hope you're all doing well amidst the energy chaos. I was wondering what the eagle eyed amongst you have managed to find in terms of the best unit rate out there per kwh for electric right now?

I was with avro until yesterday on 15p per kwh and the comparison sites are throwing back a whacky 25p per kwh now, even octopus!

Someone on here mentioned sainsburys energy which looked better, around 22p. I use a horrible amount of electric at the moment roughly 18000KWH per year due to a small ethereum mining adventure in the garage! Cheers, Kev

QrizB

Stop mining?

The best rates at present are the standard variable ones which follow the cap, something like this:

18000kWh per year will cost you almost £4000 pa.

[Deleted User]

Neon Reef are still quoting the Neptune v3 tariff at 16.498p for a 12 month fix or Marine v5 for 18.311p variable. Nabuh Energy 18.3p variable.

Of course cheapest doesn't mean best if the last 2 weeks of energy suppliers going bust is anything to go by so bear that in mind and don't take this as a recommendation, just simply replying with the cheapest rates I can see on the market.

Also Neon Reef have got a little trouble with Ofgem at the moment by failing to pay £37k of FIT payments, not a lot of money for a business that size so that could be an indication that they are struggling.

Having said that as a crypto miner you are probably well aware of financial risk and reward so the above may not bother you. Ethereum has been my biggest earner investment wise this year with a 60% return on investment so far so you may well be able to cover any risks from your energy supplier going bust if that continues to do so well.

themaidenmaniac

Thanks chaps, great advice. I'll keep an eye on neon reef, not sure whether to jump on it or take the ofgem advice and wait for avro to unwind! 

Re:Ethereum - yes been a fantastic year so far! Bit of a rollercoaster but keep those diamond hands 😉

jimjames

Rates as posted above, if you want to calculate for your own usage this calculator will do it

http://energy.jj99.co.uk/

BTW have you calculated at what point the mining isn't economic? The calculator doesn't do that for you yet I'm afraid

Cardew

themaidenmaniac said:

Hey guys. Hope you're all doing well amidst the energy chaos. I was wondering what the eagle eyed amongst you have managed to find in terms of the best unit rate out there per kwh for electric right now?

  A note of caution! QrizB's excellent comprehensive post is already 75 minutes out of date