FIT increase 2023 17 January at 3:57PM in Green & ethical MoneySaving 8 replies 378 views

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?