Outgoing export on Octopus going down

NedS · 17 February at 3:35PM

The rates being paid by Octopus are still historically high, and I fully expect further drops as more and more solar is added to the grid.

This will shift the emphasis towards self consumption and storage rather than export (need a bigger battery).

pensionpawn · 17 February at 4:20PM

https://forums.moneysavingexpert.com/discussion/comment/81888533#Comment_81888533

I agree that increasing self consumption is increasingly the priority, however the cost of the battery needs to be significantly offset by the savings in import and income from time shifted export, over the warranty period. Reducing export payments without a corresponding reduction to import payments will dramatically reduce margin and attenuate interest in batteries.

tamste · 17 February at 4:21PM

Its happened … just heard that the rate is reducing from 1st March from 15p to 12p /kWh.

Was only a matter of time, but Octopus still seem the best overall for export rates

QrizB · 17 February at 4:25PM

To be honest I was expecting a bigger drop. Wholesale prices have been under 10p/kWh pretty much all the time for at least two years now.

(There's a thread somewhere where I first speculated about this - if I can find a link, I'll share it.)

Edit to add: May 2023, so not quite two years since I wondered when this would happen.

https://forums.moneysavingexpert.com/discussion/comment/80076314#Comment_80076314

QrizB · 17 February at 4:25PM

Main thread here:

https://forums.moneysavingexpert.com/discussion/6655760/outgoing-export-on-octopus-going-down

Scot_39 · 17 February at 4:29PM

https://forums.moneysavingexpert.com/discussion/comment/81888519#Comment_81888519

Still nearly double wholesale solar farms in Ar7 - one of the biggest ever under CfD - 6.5p at 2024 indexing from ar7 (others were 2012 base)

NedS · 17 February at 4:36PM

https://forums.moneysavingexpert.com/discussion/comment/81888614#Comment_81888614

I view it more like @QrizB describes above, that we have been overpaid for export for the last few years, and now export payments are beginning to drop more in line with wholesale prices.

As I said, I fully expect SEG rates to drop further, which will widen the gap between domestic import and export pricing and thus reducing the payback period of a battery purchase that facilitates storage and later self consumption of solar.