Intelligent Octopus FLUX - A new tariff offering Import/Export parity (with a catch)!

Screwdriva

https://octopus.energy/intelligent-octopus-flux/

Finally, we have achieved the equivalent of net metering in the US - IOF is the first tariff to use software to deliver tariff parity. GivEnergy batteries only for now.

Rumour is, like GivEnergy, only batteries from brands with UK based R&D/ support functions will be supported for this tariff. This means Myenergi, Tesla, PureDrive and a small # of others. 

Alnat1

To me it seems like the ordinary Flux, another tariff that only really works in summer. People will still want to change tariffs for winter.

The same price in and out means you lose around 10% on the battery round trip and handing that control to Octopus - eek! No thank you (have the wrong battery anyway)

Screwdriva

Alnat1 said:

To me it seems like the ordinary Flux, another tariff that only really works in summer. People will still want to change tariffs for winter.

The same price in and out means you lose around 10% on the battery round trip and handing that control to Octopus - eek! No thank you (have the wrong battery anyway)

Octopus have not published the IOF tariff's import/ export rates yet. 

Alnat1

Press releases say 10% under SVT for 21 hours and a peak rate 4-7pm. If you lose 10% on conversion in/out of battery, you're basically paying SVT.

As I see it, might work if you had a large amount of storage and a larger inverter that could send plenty back to the grid 4-7. The peak export rate would need to be quite high though.

[Deleted User]

IOF is the first tariff to use software to deliver tariff parity.

I think that Mr Musk and Octopus might be a bit miffed at that claim. The first tariff that offered equal import and export rates was the Tesla Energy Plan managed by Tesla with Octopus as the supplier. TEP is now closed to new entrants but it still exists for those with contract time to run. IOF is likely based on what Octopus has learned from its ongoing relationship with Tesla.

With Tesla about to launch its own TEP for the PW2 it will be interesting to see how it compares to Flux. I doubt that Tesla will be pushing for IOF integration.

Screwdriva

I believe there are similarities but IOF isn't intended to be exclusive to a manufacturer, despite being limited to GivEnergy for the launch. It will be interesting to see how Tesla play this, given the upcoming launch of the PowerWall 3 and their own energy service. 

ggmf

I'm not sure I follow why the battery manufacturer is important for this, is this more to do with controlling the inverter (GivEnergy) to charge batteries when energy is spare and cheap?

EcoScruples

Charge and export, UK brands will be far easier to work with due to cyber security.
That's mine out the window for this tariff but I'm interested to see how it works for people.

debitcardmayhem

I am on flux, and as an experiment I have set my battery to top up from 0205 to 0455. It so far imported on average 3.5 kWh per day, and it exports on average 22kWh. At 19.72/32.01compared to 18.43 import. Sadly this week it has  been cloudy between 1600-1900. Still it's a win for me. I have Givenergy battery so I await the details.

EcoScruples

Prices are out and it's 27p import/export between 7pm and 4pm
36p import/export between 4pm and 7pm

Mimikins

I top up during the off peak, my system's relatively small and panels are east facing so its the difference between the off peak import and the standard export that would interest me. I think I'm good with 1st gen flux for now. I rarely export in the peak, plus I've got pylontech storage. Need to save up for that west facing array..