Outgoing Octopus or Eon FIT?

YorkshireTraveller

We have our electric and gas supplied by Octopus and so can avail ourselves of their Outgoing Octopus Fixed or Agile tariffs for electricity generated from our solar panels.  We are currently on a standard FIT package with Eon for our solar panels.

(I note that FIT is no longer available for new customers and that this has been replaced by SEG)

Does anyone in the group have any experience of Outgoing Octopus Fixed or Agile?  I'm not sure how to work out if it would be beneficial for us to switch or just stay with our standard FIT package from Eon?

MWT

If your current FiT includes a component for 'deemed export' then compare that to what you believe you can get from the Octopus export tariffs.That is the bit of your FiT you would lose if you made the change.

Also do note that the Agile export tariff is not available with all of their import tariffs, so which one are you on at the moment?

With 'Go' or 'Go Faster' you cannot have Agile Outgoing for example.

YorkshireTraveller

MWT said:

If your current FiT includes a component for 'deemed export' then compare that to what you believe you can get from the Octopus export tariffs.That is the bit of your FiT you would lose if you made the change.

Also do note that the Agile export tariff is not available with all of their import tariffs, so which one are you on at the moment?

With 'Go' or 'Go Faster' you cannot have Agile Outgoing for example.

We're currently on the early FIT tariff (higher rate) that includes a 'deemed export' component.  We are on the standard Flexible Octopus tariff.

[Deleted User]

Yes, I am in receipt of Octopus Fixed SEG which was increased this week to 4.1p/kWh for those of us on Octopus Go/Go Faster tariffs. For customers on a standard Octopus tariff the SEG payment is now 7.5p/kWh.

To get SEG, you can still retain your FIT payments but you have to elect to forego your export payments. You can change back after 12 months. It is easier to manage this if you change your FIT payer to Octopus. Before it agrees to pay you SEG, Octopus will need to see the MCS Certificate and the DNO approval for your installation. You will need a smart meter on 30 minute usage recording. Octopus will apply to your DNO for an export MPAN.

In terms of whether it is worth it, you need to work out how much energy you export. Fifty percent deemed export at a lower rate may realise more income than actual export at a higher rate.

YorkshireTraveller

I have just come across this which would imply it's best to stick with our existing FIT tariff:

"It is possible to switch from the FiT scheme to the SEG, however...

Solar panel owners who are already taking part in the FiT scheme will be receiving in excess of 5p per kWh of exported electricity and, unlike people on the SEG scheme, will also be paid for their generated electricity.

The SEG scheme payments do not include generated electricity and the exported payments are unlikely to exceed FiT tariff payments by a significant amount. In addition, your FiT payments are guaranteed for the remainder of the 20-25 year period you signed up for originally. Because the FiT export payments were estimated at 50% of generation rather than metered, if you used more than 50% of your generated electricity you would be better off.

Switching to the SEG would not only mean that you would receive lower payments in most cases, but they would also not be guaranteed as suppliers can change their tariffs and offer as little as 0.01p if they choose to"

Thoughts?

[Deleted User]

Yorkshire_Traveller said:

I have just come across this which would imply it's best to stick with our existing FIT tariff:

"It is possible to switch from the FiT scheme to the SEG, however...

Solar panel owners who are already taking part in the FiT scheme will be receiving in excess of 5p per kWh of exported electricity and, unlike people on the SEG scheme, will also be paid for their generated electricity.

The SEG scheme payments do not include generated electricity and the exported payments are unlikely to exceed FiT tariff payments by a significant amount. In addition, your FiT payments are guaranteed for the remainder of the 20-25 year period you signed up for originally. Because the FiT export payments were estimated at 50% of generation rather than metered, if you used more than 50% of your generated electricity you would be better off.

Switching to the SEG would not only mean that you would receive lower payments in most cases, but they would also not be guaranteed as suppliers can change their tariffs and offer as little as 0.01p if they choose to"

Thoughts?

Please read what I have said about your generation payments. You CAN retain these payments and get SEG for your 50% deemed export units.

YorkshireTraveller

Dolor said:Please read what I have said about your generation payments. You CAN retain these payments and get SEG for your 50% deemed export units.

Thanks - will investigate further!

[Deleted User]

Yorkshire_Traveller said:

Dolor said:Please read what I have said about your generation payments. You CAN retain these payments and get SEG for your 50% deemed export units.

Thanks - will investigate further!

To put your mind at rest, a number of PV solar owners have increased the size of their arrays and moved all their export to SEG whilst retaining FIT payments for the original array. It keeps things simple.

https://octopus.energy/blog/outgoing/