FIT increase 2023

Krakkkers

When do we find out the inflation figures needed for the 2023 FIT increase? what is it likely to be, will we get 10% ?

jimjames

It will be tomorrow, expecting it to be well above 10% as RPI last month was 14%. 

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23

For what it's worth my prediction is RPI of 12.5% giving a new FIT rate of 67.4p

Exiled_Tyke

jimjames said:

It will be tomorrow, expecting it to be well above 10% as RPI last month was 14%. 

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23

For what it's worth my prediction is RPI of 12.5% giving a new FIT rate of 67.4p

Don't forget that those of on FIT all get different rates depending on the time of install. 

Merlin139

The annual RPI inflation rate was 13.4% in December 2022.

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23

Chris_Type_R

I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 

Krakkkers

So is that the figure then? 13.4%

gefnew

Chris_Type_R said:

I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 

Plus 48.45p/kwh of self consumption after March when the support from government goes.

Chris_Type_R

gefnew said:

Chris_Type_R said:

I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 

Plus 48.45p/kwh of self consumption after March when the support from government goes.

21p for me until Aug 2024 - not sure if I should feel hard done by because I'm not getting the full 'benefit' of self consumption

Krakkkers

Do you mean 2034?

zdenka

Ok, complete newbie here. I had my solar panels/batteries installed last year. Installer told me it’s not worth having feed in tariff but just to go with Octopus GO for cheap night rates. Martin’s guide suggest though that I could get separate feed in tariff that’s independent from Octopus? How do I go about this? I have friends who are on Octopus Go but have feed in tariff with previous supplier, but they had solar for 10+ years.

DougMLancs

The FIT scheme closed to new applications on 1st April 2019 but it’s now been replaced by SEG (smart export guarantee). What tariff are you on at the moment and who with? Octopus? You can have your import and export with different suppliers but if you are already with Octopus for import then I would stick with them for export as they have some great tariffs. Do you know if your installer was MCS registered? From what I’ve seen on here, installers who tell customers they shouldn’t bother with export payments are perhaps not registered. A few details about the size of your solar array/battery would help. Do you own an EV?