Solar Panel Feed In Tarriff

Grimly

Does anyone know if the Feed In Tarrif is going to go up un line with our electric bills?

Krakkkers

Its going up as stated in the 20/25 year contract that you and I signed.

QrizB

Going up in April by December's RPI, if I recall correctly.

Krakkkers

Will be a good rise, could be 15%?+

[Deleted User]

This keeps getting raised and it is something that I have been thinking a lot about over the past few days. I agree that those on a FIT tariff are contractually bound to what they agreed to when they signed on the dotted line.

However, the argument for Special Export Guarantee (SEG) payments for exported solar energy sits in a different category.

Looking at today’s wholesale price for electricity of 52p/kWh (based on Octopus Tracker), Octopus is paying 1/7 of the wholesale price for SEG - and it is one of the higher payers for fixed SEG. If I export 5kWh, then I get a 27.5p credit but Octopus has saved £2.60 in wholesale costs. I appreciate this is very simplistic but you get my drift.

Suppliers are allowed to set their own SEG rates, and I see no effort being made across the board to increase them. I have written to the Competition and Markets Authority suggesting that this needs to be investigated. Others may wish to do the same.

general.enquiries@cma.gov.uk

So what has all this got to do with those on the FIT Scheme? You have a contractual right to give up your 50% deemed export payments and claim SEG for every kWh you export to the Grid. You still retain the FIT element for generation. You can revert back to deemed exports after 12 months. It is worth making the case for increased SEG payments.

markin

Do they hedge solar users 6 months ahead just in case the is a bad solar week, Probably not, But remember most companies that went bust were gambling to make profit and not hedging enough customers.