Solar Panel Feed In Tarriff

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

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  • Krakkkers
    Krakkkers Posts: 1,134 Forumite
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    Its going up as stated in the 20/25 year contract that you and I signed.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    Going up in April by December's RPI, if I recall correctly.
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • Krakkkers
    Krakkkers Posts: 1,134 Forumite
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    Will be a good rise, could be 15%?+
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    edited 29 August 2022 at 2:08PM
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    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
    markin Posts: 3,854 Forumite
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    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.
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