Fit payments.

QrizB

The_Green_Hornet said:

mickyduck55 said:

I have had my FIT with Eon since 2011 never had any issues.. I have just been informed that I am now with "Eon Next" I guess just some rebranding.  They have however changed my FIT reporting dates, no big deal but has this happened to anyone else?

This would make sense if the dates had been changed to match my reading to the date that the FIT changes but my latest date for submission is 25 March, my original reporting date would have been 14 April

Same here.

E.on Next is a different technology platform to E.on and they appear to want everyone to send them their quarterly FIT meter readings during the same window between the 1st and 25th.

My understanding is that, regardless of when you send the meter reading, you won't get paid until after the window has closed so I intend to submit mine on the 25th from now on.

I was transferred to E.ON Next FITs after 9 years with nPower. nPower always asked for readings in March / June / September / December and it seems like E.ON Next are continuing with that.

Albany27

What is the mechanism or rationale for changes in FIT payment rates? With the huge run-up in electricity prices, are Eon.next et al now paying more for the energy they take from our solar panels?

chris_n

Albany27 said:

What is the mechanism or rationale for changes in FIT payment rates? With the huge run-up in electricity prices, are Eon.next et al now paying more for the energy they take from our solar panels?

Fit rates are linked to RPI and go up every April. No one if paying more for the export on a FIT scheme, though you could change to SEG as detailed in earlier replies.

QrizB

Albany27 said:

What is the mechanism or rationale for changes in FIT payment rates?

It's the same 20- or 25-year agreement you entered into when you installed the panels.

jimjames

Albany27 said:

What is the mechanism or rationale for changes in FIT payment rates? With the huge run-up in electricity prices, are Eon.next et al now paying more for the energy they take from our solar panels?

Yes they are paying more, likely to be over 70p per kWh from April next year. As above the FIT rates are indexed to RPI which is driven by rises in gas and electricity

sevenhills

QrizB said:

Albany27 said:

What is the mechanism or rationale for changes in FIT payment rates?

It's the same 20- or 25-year agreement you entered into when you installed the panels.

This link says 20 years, I thought it was 25 years. I will see if I have any documentation. Mine were installed by Better Homes Yorkshire.
It's good that they increase by RPI, as it's generally 1% higher than CPI, 2%+ higher at the moment.

https://sse.co.uk/help/energy/feed-in-tariffs#:~:text=Once you've started receiving,Retail Price Index (RPI).

QrizB

sevenhills said:

QrizB said:

Albany27 said:

What is the mechanism or rationale for changes in FIT payment rates?

It's the same 20- or 25-year agreement you entered into when you installed the panels.

This link says 20 years, I thought it was 25 years. I will see if I have any documentation.

Early FITs were for 25 years but it was shortened to 20 years for later ones.

PauloH

Since OVO now undertake SSE FIT payments, they have adopted their cash flow whiz of not paying till 7 weeks after the end of the month you send in a reading. Legally they have 3 months in the contract, but OFGEM say there is no reason they have to wait to pay. See paid within 2 weeks as do many others.
Personally 7 weeks is taking the Mick, so I have switched to my Electricity supplier EonNext who will pay within maybe 1week of the reading. Their cycle of payments is Mar, Jun ,Sep, Dec., but have to wait and see whether the payment comes after the reading or the end of the month.
  

Mister_G

PauloH said:

Since OVO now undertake SSE FIT payments, they have adopted their cash flow whiz of not paying till 7 weeks after the end of the month you send in a reading. Legally they have 3 months in the contract, but OFGEM say there is no reason they have to wait to pay. See paid within 2 weeks as do many others.
Personally 7 weeks is taking the Mick, so I have switched to my Electricity supplier EonNext who will pay within maybe 1week of the reading. Their cycle of payments is Mar, Jun ,Sep, Dec., but have to wait and see whether the payment comes after the reading or the end of the month.
  

Eon usually pay the FIT within one to two weeks of submitting the end of quarter reading.

[Deleted User]

Same with EDF - I usually have the money in the bank a week after submitting the readings.