Why don't my fit payments rises like the energy crisis

teggann

Why if I am exporting my electricity I have generated can I not increase my fitt tariffs like the energy companies its not fair they are making extortionate money i/we have generated and have to buy it back for 800%more somthing needs to be done about the fit payments and martin is the man to help 

[Deleted User]

When you've finished the 20 or 25 year contract that you signed up to, feel free to negotiate a price.

There's nothing stopping you using the electricity rather than exporting it.

jj_43

teggann said:

Why if I am exporting my electricity I have generated can I not increase my fitt tariffs like the energy companies its not fair they are making extortionate money i/we have generated and have to buy it back for 800%more somthing needs to be done about the fit payments and martin is the man to help 

welcome to the energy industry, customers lose, energy companies win. You have the benefit of inflationary increases on your FIT payments which other customers pay for (good investment for you, bad for other energy customers), while for the export generation the energy supplier can pay you a few pennies, off course for them its very cheap and they sell this back to you at a huge profit. The industry has all sort of similar free options for the energy companies.

The investment case for solar/batteries is excellent at the moment, so I'd consider that.

sevenhills

teggann said:

Why if I am exporting my electricity I have generated can I not increase my fitt tariffs like the energy companies its not fair they are making extortionate money i/we have generated and have to buy it back for 800%more somthing needs to be done about the fit payments and martin is the man to help 

I understand that the FIT prices rises each year with RPI inflation. If you look at your paperwork it will tell you.

JIL

I asked the same question a while back. I also got the you signed up for it. Yadda yadda.

However I totally agree with you. Why when prices are at an all time high for a commodity and providers are buying at a high price, why is it ok to keep the prices the same with fit payments. The crazy situation I am in is that I pay a standing charge for electricity which is double any of my actual electricity payments. I didnt actually have a standing charge originally.

Would it not follow that if there was a reintroduction of fit payments at a reasonable market rate, that more people would be encouraged to fit solar panels and contribute to the national grid, thus reducing costs.

gazapc

Have your cake and eat it...

It is likely for many years consumers have been subsising your FIT. Show some humility and acknowledge that perhaps now is not the moment moan that people should increase bills further to fund your payments. You still get the benefit of offsetting import.

If you want to cancel your feed in tariff and switch to say Octopus Agile outgoing, please do. But don't come crying to this forum when in x years time whole sale prices drop and your FIT looks attractive again.


And we don't need a FIT to incentivise further rooftop deployment. The market is plenty hot enough as  evidenced by how hard it is getting installers or equipment.

chris_n

FIT rises with RPI in April every year. For most part of that is a deemed export tarrif of 50% at quite a low rate. It is possible to forego the export and change it to a SEG agreement where you will be paid an agreed rate for all of your export or move to something like Octopus Agile where the rates will vary with demand so may at times pay more. You will still get nowhere near the same price (under most circumstances, at times recently it has been higher than unit cost) as your import costs. Your best bet is still to use as much of what you generate as possible.

TheBanker

The problem is that the grid is dependent on oil and gas to make sure we have consistent supplies. Leaving aside capacity, the issue with renewables is that the supply is inconsistent - we need electricity at night when your solar panels aren't working. And because you can't simply turn a power station on and off, gas is used throughout the day.

Simply put, your energy is worth less because you can only offer an intermittent supply, at times when demand is likely to be lower overall. 

[Deleted User]

FIT payments are a contract with the Government. All contracts have terms and conditions. Before those with FIT Solar cry foul, they should take into account that these are 20/25 year contracts. If the unit price of energy goes up, then the payback period goes down. Once the solar array has been ‘paid for’, then the remaining years of payments are an unexpected bonus.

It is though worth thinking about foregoing your deemed export payments in favour of SEG: you still retain the FIT element of your contract. Have a look at Octopus’ Agile Outgoing tariff to see what export rates are being paid. For SEG, Octopus will require you to have a smart meter and a second MPAN. You will only be paid for the actual units exported to the Grid.

JIL

gazapc said:

Have your cake and eat it...

It is likely for many years consumers have been subsising your FIT. Show some humility and acknowledge that perhaps now is not the moment moan that people should increase bills further to fund your payments. You still get the benefit of offsetting import.

If you want to cancel your feed in tariff and switch to say Octopus Agile outgoing, please do. But don't come crying to this forum when in x years time whole sale prices drop and your FIT looks attractive again.


And we don't need a FIT to incentivise further rooftop deployment. The market is plenty hot enough as  evidenced by how hard it is getting installers or equipment.

If I thought that my solar panels would keep costs down for others I would absolutely not want any money at all from my fit. I probably give more to charity than I get via FIT.

Theres absolutely no crying from me, and you have completely missed the point. Electricity costs have gone through the roof, whilst on my roof theres something that provides said product and I'm a supplier so how come my payment has stayed the same.

And your final paragraph, would we be in the position we are in if there had been some forward thinking a few years back.

[Deleted User]

JIL said:

gazapc said:

Have your cake and eat it...

It is likely for many years consumers have been subsising your FIT. Show some humility and acknowledge that perhaps now is not the moment moan that people should increase bills further to fund your payments. You still get the benefit of offsetting import.

If you want to cancel your feed in tariff and switch to say Octopus Agile outgoing, please do. But don't come crying to this forum when in x years time whole sale prices drop and your FIT looks attractive again.


And we don't need a FIT to incentivise further rooftop deployment. The market is plenty hot enough as  evidenced by how hard it is getting installers or equipment.

If I thought that my solar panels would keep costs down for others I would absolutely not want any money at all from my fit. I probably give more to charity than I get via FIT.

Theres absolutely no crying from me, and you have completely missed the point. Electricity costs have gone through the roof, whilst on my roof theres something that provides said product and I'm a supplier so how come my payment has stayed the same.

And your final paragraph, would we be in the position we are in if there had been some forward thinking a few years back.

If you are looking for support/sympathy then you will not get it from me. If you want higher export payments then ditch your deemed export and go for SEG: you will retain your FIT payments.

There is absolutely no need for the Government to re-introduce support for PV solar. Installers have never been busier. An investment in a 6kWp array can be recovered in less than 8 years. Remember the cost of all energy support schemes FITs; WHD; heat pumps etc is added to consumer energy bills.