Eon Next Demand Flexibility Scheme 2023

MeteredOut

BellaBlondykeTheThird said:

And despite only getting £1.50 per kWh Octopus are paying out £1.75 per kWh if I have read it correctly.

But haven't they bid £3 previously and only provided £2.50 to customers, whereas other suppliers seemed to pass on the full amount. So, Octopus may have had a "kitty" of cash from the previous events. They seem to be playing a good game.

bristolleedsfan

MeteredOut said:

BellaBlondykeTheThird said:

And despite only getting £1.50 per kWh Octopus are paying out £1.75 per kWh if I have read it correctly.

But haven't they bid £3 previously and only provided £2.50 to customers, whereas other suppliers seemed to pass on the full amount. So, Octopus may have had a "kitty" of cash from the previous events. They seem to be playing a good game.

Bid £3 provided £2.25 to customers - Octopus -  + paid lower rate than they bid for live events last year.

Also Octopus incentivising opting in to turn down events appears to cancel out " Isn't that one of the main points of the test - to see how (low) the suppliers will bid and to see how consumers will change their habits in response to how those bids are reflected in cashback they are offered"

pete-20-11

Yeah, the 75p difference will be a combination of things, including some admin costs, spot prizes, bonus points e.g. for doing multiple sessions in a row and various other things. 

It might be now the cost of running the sessions is cheaper for them, as the system is in place and hopefully running smoothly (on the most part), so maybe they have some profit from the previous sessions to boost the reward this time. 

BellaBlondykeTheThird

MeteredOut said:

BellaBlondykeTheThird said:

And despite only getting £1.50 per kWh Octopus are paying out £1.75 per kWh if I have read it correctly.

But haven't they bid £3 previously and only provided £2.50 to customers, whereas other suppliers seemed to pass on the full amount. So, Octopus may have had a "kitty" of cash from the previous events. They seem to be playing a good game.

Oh yes they have just pointing out it works both ways and of course they did add in the chance to win £1,111 and other things along the way.

Plus a free coffee on Greg each week more than makes up for any lower payments.

Lorian

And octopus had better guesses at what to bid than eon.next two sessions in a row.

Lorian

Possible test today if eon.next bid low enough and get accepted. I fear it won't be worthwhile taking part, let's see.

Swipe

I'm out. Not wasting my time anymore for 30p

Lorian

They are asking for 120MW for a half hour period, really a skimpy session to tick off the number of test sessions I guess 

victor2

Lorian said:

They are asking for 120MW for a half hour period, really a skimpy session to tick off the number of test sessions I guess 

Half of nothing then for most customers!

Lorian

Eon bid £1.30 and were rejected so no invites no pennies saved.

Octopus bid £1.20 and were accepted.

I wouldn't have bothered for £1.20 per KW/h. I'm cooking my dinner :-)