Octopus Agile rates, and is it price-capped?

Peter_Vince

I was interested to hear Martin mention the Octopus Agile tariff, and read about it on the MSE page at:

     https://www.moneysavingexpert.com/news/2023/02/wholesale-energy-prices-are-falling---is-it-worth-switching-to-o/

Reading that page I wasn't clear whether the Energy Price Cap and Energy Price Guarantee apply to this tariff - can the half-hourly rates exceed those limits, or are they clipped just like a standard tariff?

Secondly, on that page is a list of the unit rates for every half hour of the day.  I find it hard to believe that someone painstakingly noted down the readings every half hour, especially through the night – are they downloadable, from the smart-meter or remote display, or from Octopus themselves?  (As an aside, can usage data be downloaded from the smart meter?)

Thank you.

[Deleted User]

Peter_Vince said:

I was interested to hear Martin mention the Octopus Agile tariff, and read about it on the MSE page at:

     https://www.moneysavingexpert.com/news/2023/02/wholesale-energy-prices-are-falling---is-it-worth-switching-to-o/

Reading that page I wasn't clear whether the Energy Price Cap and Energy Price Guarantee apply to this tariff - can the half-hourly rates exceed those limits, or are they clipped just like a standard tariff?

Secondly, on that page is a list of the unit rates for every half hour of the day.  I find it hard to believe that someone painstakingly noted down the readings every half hour, especially through the night – are they downloadable, from the smart-meter or remote display, or from Octopus themselves?  (As an aside, can usage data be downloaded from the smart meter?)

Thank you.

Octopus Agile is billed on 30 minute usage data pulled from the meter daily in an XML file. It follows that most bills run to over 30 pages. Prices are updated and released each day:



Rates can be accessed by a variety of apps. The rates are NOT sent to the meter so the IHD displays an equivalent/average unit price. Octopus also sends out plunge event emails when prices are below zero. The present cap is, I believe, £1.00/kWh.

The Government’s Energy Price Guarantee (EPG) offers a 33.43p / kWh discount against your electricity unit rates.

Given the money for this discount comes from every UK home, it’s important we’re fair with how the EPG is applied.

The EPG discount will apply whenever Agile unit rates go above the base EPG level (34p / kWh on average, but this does vary regionally).

For example, a unit rate of 80p / kWh would be reduced to 46.57p / kWh.

The EPG is also applied after the maximum unit rate cap. This offers an additional saving for Agile customers against high wholesale unit rates.

For example, a unit rate of 120p / kWh is capped at 100p / kWh, then the EPG discount reduces this to 66.57p / kWh.

However, the EPG won’t discount unit rates further below the base level.

For example, an electricity unit rate of 38p / kWh is only reduced to 34p / kWh (on average).

However, however... if the unit rate is already below the base EPG level (34p / kWh), then you will pay the cheaper rates.

For example, an electricity unit rate of 30p / kWh means you only pay 30p / kWh.

Peter_Vince

Excellent - thank you!

bristolleedsfan

https://octopus.energy/agile/

Scot_39

[Deleted User] said:

Peter_Vince said:

I was interested to hear Martin mention the Octopus Agile tariff, and read about it on the MSE page at:

     https://www.moneysavingexpert.com/news/2023/02/wholesale-energy-prices-are-falling---is-it-worth-switching-to-o/

Reading that page I wasn't clear whether the Energy Price Cap and Energy Price Guarantee apply to this tariff - can the half-hourly rates exceed those limits, or are they clipped just like a standard tariff?

Secondly, on that page is a list of the unit rates for every half hour of the day.  I find it hard to believe that someone painstakingly noted down the readings every half hour, especially through the night – are they downloadable, from the smart-meter or remote display, or from Octopus themselves?  (As an aside, can usage data be downloaded from the smart meter?)

Thank you.

Octopus Agile is billed on 30 minute usage data pulled from the meter daily in an XML file. It follows that most bills run to over 30 pages. Prices are updated and released each day:



Rates can be accessed by a variety of apps. The rates are NOT sent to the meter so the IHD displays an equivalent/average unit price. Octopus also sends out plunge event emails when prices are below zero. The present cap is, I believe, £1.00/kWh.

The Government’s Energy Price Guarantee (EPG) offers a 33.43p / kWh discount against your electricity unit rates.

Given the money for this discount comes from every UK home, it’s important we’re fair with how the EPG is applied.

The EPG discount will apply whenever Agile unit rates go above the base EPG level (34p / kWh on average, but this does vary regionally).

For example, a unit rate of 80p / kWh would be reduced to 46.57p / kWh.

The EPG is also applied after the maximum unit rate cap. This offers an additional saving for Agile customers against high wholesale unit rates.

For example, a unit rate of 120p / kWh is capped at 100p / kWh, then the EPG discount reduces this to 66.57p / kWh.

However, the EPG won’t discount unit rates further below the base level.

For example, an electricity unit rate of 38p / kWh is only reduced to 34p / kWh (on average).

However, however... if the unit rate is already below the base EPG level (34p / kWh), then you will pay the cheaper rates.

For example, an electricity unit rate of 30p / kWh means you only pay 30p / kWh.

With the discount going to 16.6 on electric, guessing this will change,to max 16.6 above epg epg discount and 83p max.

Increasing risk of the chance of paying more than epg. At say 52p rather than say 67p (the 15p lower discount cap)

Did it exist at 17p - so going back roughly to Oct Q4 etc.?

Is there a pre discount vn of the 1/2 hrly rate graphs