Does my solar feed in tariff go up, just like my power bills for usage ?

fimacdoodle

I asked Eon this question and they were silent......mmmmmm.....

I generate power from owned PV roof panels, and feed into the system what is not used in the daylight. Each quarter I get a sum of money. I didn't see that increase (or maybe it has not cut in yet?)

I see I can change to another solar feed in tariff like I (used) to with supply ? Does octopus still exist, they were supposed to pay well?

Spies

Are you on FIT or SEG as they're quite different to the way they work... 

QrizB

fimacdoodle said:

I generate power from owned PV roof panels, and feed into the system what is not used in the daylight. Each quarter I get a sum of money. I didn't see that increase (or maybe it has not cut in yet?)

Yes, your FIT increases every year in line with RPI. This is part of the 20- or 25-year agreement you made with Ofgem when you applied for the FIT.

I see I can change to another solar feed in tariff like I (used) to with supply ? Does octopus still exist, they were supposed to pay well?

You can change FIT supplier but that won't change your FIT rate, they're set by Ofgem.

The FIT is made up from two elements; a generation payment (money for every kWh you generate) plus an export payment (money for every kWh you export). For almost all domestic FIT accounts the export payment is deemed, ie. it's assumed to be half of the electricity you generate. This is often an underestimate.

You can keep the FIT generation payments but opt out of deemed export and instead switch to metered export. If you switch to metered export you can benefit from the metered export tariffs - the Smart Energy Guarantee (SEG).

Octopus, as you mention them, have additional export tariffs available to their customers. The most popular ones are Outgoing Fixed (currently 15p/kWh) and Outgoing Agile (changes every 30 minutes but typically over 20p/kWh at present).

fimacdoodle

Spies said:

Are you on FIT or SEG as they're quite different to the way they work... 

Yes, FIT.

powerful_Rogue

fimacdoodle said:

I asked Eon this question and they were silent......mmmmmm.....

I generate power from owned PV roof panels, and feed into the system what is not used in the daylight. Each quarter I get a sum of money. I didn't see that increase (or maybe it has not cut in yet?)

I see I can change to another solar feed in tariff like I (used) to with supply ? Does octopus still exist, they were supposed to pay well?

Is that actually a serious question?!

Krakkkers

FIT increases every April, we got 7.5% this year.

QrizB

Krakkkers said:

FIT increases every April, we got 7.5% this year.

And we're likely to get over 10% next year. Better than money in the bank!