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Octopus Go Electricity Tariff – For EV customers only?

Octopus T&C Clause 6 only allows certain customers to join this beta product saying they will switch you to another tariff if you join and do not own an Electric Vehicle battery that needs charging.

This tariff does not rely on annual futures energy markets something that has made so many retailers insolvent. It relies instead on hedging or predicting market prices a half hour in front of what is expected to be a profile of regular consumption. Herein lays a problem what do they do if your EV is not used over a period of days: is this why it is a beta product and at what point would they switch you. Do they need to specify a regular minimum kWh consumption to in order to meet the profile?

Wholesale market indicators can be used to predict prices over a longer term with the price of gas per therm directly influencing the price of electricity because of gas powered electricity stations. The outlook means that wholesale gas prices are going to remain high but if gas supply improves electricity prices will come down.

Not that I have one but is charging your EV proving expensive?




Comments

  • Verdigris
    Verdigris Posts: 1,725 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Even at current on-peak SVT prices an EV, returning 3 miles/kWh, is cheaper to run that most petrol vehicles.
  • It does not matter if you don’t charge your EV for several days, mine only gets a 4 hour charge once or twice a week, although that does account for 40% of our electric consumption. I am not sure how strictly they implement the rule, but I would presume you would get notice of a switch of tariff, so you would have ample time to prove you actually had an EV if they suspected otherwise.
  • If they did switch you it would be 30 days before you could go back onto the tariff. I think a second generation smart meter and the tariff go hand in hand as they allow the provider to read your meter remotely. You could install an AC battery and use this to power your house through the day - no need for solar.
  • Any one without an ev renewed recently probably a moot point as no longer a good tarrif without one.
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