Octopus Flux April 25 - Ouch

Werbstrode

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

QrizB

Werbstrode said:

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

Why is it disgusting?

Do you think Octopus have a legal or ethical obligation to continue paying you the rates you've previously enjoyed?

If Flux doesn't work for you any more, look for alternatives.

mmmmikey

Werbstrode said:

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

I don't understand why you describe this as a back door method? As far as I can see the tariff has changed transparently and in accordance with the rules, and just reflects changes in the market and/or Octopus's marketing strategy. All just business as usual, surely? If the new rates don't suit you, as with all tariffs you're free to choose something that works out better for you. There's far more choice now than there's ever been. Or am I missing something?

debitcardmayhem

Werbstrode said:

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

Not disgusting, simple business decision. The only thing that I take issue with is they describe a cut of almost 26% as a slight decrease. Love and Power octopus indeed

Werbstrode

debitcardmayhem said:

Werbstrode said:

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

Not disgusting, simple business decision. The only thing that I take issue with is they describe a cut of almost 26% as a slight decrease. Love and Power octopus indeed

Sorry disagree. If the cost to them of power they sell me goes up then the value of what they contract to buy from me then at least should remain the same. 
Where I am the decrease in export is approx 33% since Oct last year (over 15p to 10p per kWh.) 
Marketing maybe but unethical. Also dont forget they then give some of my export away as free electricity which I cannot take advantage of as at those times my battery is full and I am exporting.
Alternative tarriff or supplier no go as seems I have wrong brand of batteries Solax.

Qyburn

Werbstrode said:

Alternative tarriff or supplier no go as seems I have wrong brand of batteries Solax.

If you go for an EV import tarriff combined with fixed export, it won't matter what sort of battery you have as long as you can program charge/discharge times. That's what I'm running at the moment until I get some more positive reports about IOG.

Werbstrode

Qyburn said:

Werbstrode said:

Alternative tarriff or supplier no go as seems I have wrong brand of batteries Solax.

If you go for an EV import tarriff combined with fixed export, it won't matter what sort of battery you have as long as you can program charge/discharge times. That's what I'm running at the moment until I get some more positive reports about IOG.

Don't have an EV and not likely to have in near future so no EV charger which is precondition for these tarrifs.

mmmmikey

Werbstrode said:

debitcardmayhem said:

Werbstrode said:

To me the point is that Octopus have increased my electricity costs by £100 per year by the back door method of reducing my export tarriff by 33% compared to the majority of last year. And thats in addition to the price cap increases. Disgusting!

Not disgusting, simple business decision. The only thing that I take issue with is they describe a cut of almost 26% as a slight decrease. Love and Power octopus indeed

Sorry disagree. If the cost to them of power they sell me goes up then the value of what they contract to buy from me then at least should remain the same. 
Where I am the decrease in export is approx 33% since Oct last year (over 15p to 10p per kWh.) 
Marketing maybe but unethical. Also dont forget they then give some of my export away as free electricity which I cannot take advantage of as at those times my battery is full and I am exporting.
Alternative tarriff or supplier no go as seems I have wrong brand of batteries Solax.

Suppliers need to make 30 minute by 30 minute assumptions about what their customers will use when in order to set prices. Because smart TOU tariffs are relatively new they have little historic data to go on and just have to guess how much it's going to cost them. Inevitably they won't always get this right and will have to adjust prices more than they would for more established tariffs. So even if the underlying energy market was stable you really just need to accept that TOU pricing is going to be volatile with the best tariff for you changing often.
If you accept that and shop around there are certainly some good deals to be had.
But if that isn't for you a fixed tariff may suit you better. Note that you can have a fixed TOU tariff. I'm currently switching to EOn Next Drive which is fixed for a year and the pricing is much better for me than Octopus Flux.

Qyburn

Werbstrode said:

Qyburn said:
If you go for an EV import tarriff combined with fixed export, it won't matter what sort of battery you have as long as you can program charge/discharge times. That's what I'm running at the moment until I get some more positive reports about IOG.

Don't have an EV and not likely to have in near future so no EV charger which is precondition for these tarrifs.

As reported earlier, Eon Nextdrive is available if you have solar/battery. No EV or charger needed. That gives 7 hours at 6.7p/kWh to to up your battery, and 16.5p/kWh export at all times.

In practice Octopus Go is also available without an EV, but rates aren't as attractive.

debitcardmayhem

Oops…my bad, SC IS ONLY 7.20/yr not 72 maybe it is worth it for £81, but the export is paid yearly or quarterly so they will want a bigger DD than the £10/month I pay now. Hm decisions

Now checked my options going forward and EON Next drive is slightly better, but for £16 not worth for changing to them.

compared Flux 1/25 Flux 4/25 IOF 4/25 and EON Nextdrive and for historical purposes Flux 4/24



EON has £72 more SC, than Octopus. Lucky escape for Octopus…. IOF for now, assuming I can get the switch to work, failed earlier, but I want to start on the first of April(you might think more fool me🤗).