New Octopus tariff for solar and battery users - Octopus Flux

Ron-ski

JKenH said:

Just signed up to Flux and was switched straight away to the new import rates. I am hoping all the documentation I provided was sufficient but understand it could take several weeks to get export set up. Roughly how many weeks/days has it taken for others to get on to Flux export?

Edit: I am currently on deemed export pending acceptance on Flux. 

It's only been open to sign ups for just over a week. I signed up last weekend, so just over a week ago, and import was changed pretty quickly.

Export is a different story though, I'm in the same boat as you, FITS are with another company, and I was told it could take up to eight weeks to transfer other, but hopefully quicker than that.

JKenH

What are the tax implications of being paid for exporting electricity? FiT payments are tax free as I believe are deemed export. Are SEG and other export payments treated the same?

70sbudgie

For my SEG payments with Octopus, there are no standing charges and no tax. I have read the small print somewhere why that is, but can't remember the detail. I think it is because SEG is essentially paid as a credit to my existing account, rather than an actual income. 

Or it may be like competition winnings, where it is specifically exempt from tax.

[Deleted User]

SEG is just a credit to the monthly bill. There has been some debate on other forums that a tax liability might arise if the export significantly exceeds home use:

‘ Further guidance can be found at HM Revenue & Customs’ Business Income Manual BIM40520. In that section they explain that they will usually treat the phrase “significantly exceed” as applying only in cases where the individual intends that the electricity generated will exceed home consumption levels by more than 20%.’

70sbudgie

I wonder if this is where the Ripple 120% limit comes from then?

powerful_Rogue

So far so good, and the weather hasn't been overly amazing.

Average of -0.08p per day , -56p for the week!

Exiled_Tyke

[Deleted User] said:

SEG is just a credit to the monthly bill. There has been some debate on other forums that a tax liability might arise if the export significantly exceeds home use:

‘ Further guidance can be found at HM Revenue & Customs’ Business Income Manual BIM40520. In that section they explain that they will usually treat the phrase “significantly exceed” as applying only in cases where the individual intends that the electricity generated will exceed home consumption levels by more than 20%.’

@7@70sbudgie Exaclty my thought too. I"m pretty sure that's exaclty where the Ripple 120% figure comes from. It looks like government is encouraging 100% coverage of consumption with some leeway.

Ron-ski

@powerful_Rogue Nice, what app are you using?

Still waiting on my export MPAN before I can get paid for export.

JKenH

Ron-ski said:

JKenH said:

Just signed up to Flux and was switched straight away to the new import rates. I am hoping all the documentation I provided was sufficient but understand it could take several weeks to get export set up. Roughly how many weeks/days has it taken for others to get on to Flux export?

Edit: I am currently on deemed export pending acceptance on Flux. 

It's only been open to sign ups for just over a week. I signed up last weekend, so just over a week ago, and import was changed pretty quickly.

Export is a different story though, I'm in the same boat as you, FITS are with another company, and I was told it could take up to eight weeks to transfer other, but hopefully quicker than that.

After a week or so Octopus agreed it would be quicker if I left my FiT with my existing provider, Good Energy as they would need to agree a switch date and allow 2 weeks for this. I was told I needed to inform GoodEnergy to alter my export account status to “negotiated”. Good Energy replied saying to let them know the start date of the export arrangement and give a generation meter reading from that date. I sent Good Energy’s response to Octopus and am now awaiting to hear from them. 

Edit: meanwhile new import rates came through slightly lower wef 1 April.

anon_ymous

mickyduck55 said:

I have solar and batteries, this may work using summer generation but certainly in my case not over winter

Looking at this, it does seem like Octopus Flux isn't best say from the end of March until the end of October and then Octopus Cosy from the start of November until the end of March 

Though you can adjust that to the months you tend to pop the heating on. This also assumes you have a heat pump as well as solar and batteries