New Octopus Switchers / Energy Crisis

[MattM76]

We were cluttering up the Model Y topic, so I figured we could start a new on here.

In reply to @_Dave_ ( 37 minutes ago )

Yes, 40p during the day seems very steep but the new cap has been announced for October, and it's 55p, so now it seems cheap! Charging the car overnight and scheduling energy hungry appliances like dishwasher, washing machine and tumble driers during the cheap rate will help reduce your bill. Also consider smart plugs to schedule charging of battery based appliances. Every little helps.

 

[Durzel]

We're basically screwed, whatever happens.

I imagine there's going to be a lot more congestion (and aggression) at free sites like Tescos before too long.

 

[_Dave_]

Great thanks Matt. Good idea.

Are we all to assume that most/all current providers will move to the 55p cap limit from first Oct? Kinda moot in a way as I’ve done an amount of research, made the switch etc, and am certain I’ve made the right move in limiting what could have been a much bigger increase as best as possible, but agree, our spend amount is only going one way.

 

[MattM76]

A lot of focus is on electricity but really the gas costs are going to cripple most of us who heat our homes with gas boilers. It's easier to trim electricity usage than gas in the depths of winter.

 

[robbieduncan]

We were cluttering up the Model Y topic, so I figured we could start a new on here.

In reply to @_Dave_ ( 37 minutes ago )

Yes, 40p during the day seems very steep but the new cap has been announced for October, and it's 55p, so now it seems cheap! Charging the car overnight and scheduling energy hungry appliances like dishwasher, washing machine and tumble driers during the cheap rate will help reduce your bill. Also consider smart plugs to schedule charging of battery based appliances. Every little helps.

52p for accuracy. But yes the 40p makes it worth it even without the 7.5p overnight rate.

Unless you are charging large batteries I doubt you'd notice moving them to overnight. An iPhone 13 Pro Max for example has a 14.13Wh battery. Even if you assume 10% loss for charging efficiencies you'd need to charge the phone every day for 2 months to use 1 unit of electricity!

 

[robbieduncan]

Great thanks Matt. Good idea.

Are we all to assume that most/all current providers will move to the 55p cap limit from first Oct? Kinda moot in a way as I’ve done an amount of research, made the switch etc, and am certain I’ve made the right move in limiting what could have been a much bigger increase as best as possible, but agree, our spend amount is only going one way.

All SVR customers will move to the 52p cap. The wholesale cost is averaged to that over the last review period and expected to keep rising so even at that they are losing money.

 

[NP90]

I've just switched (today) from Octopus flex (29p/kWh) to Octopus Go at 40/7.5. Now considering whether I should look at Intelligent Octopus now and secure a longer off-peak charging period.

 

[MattM76]

Great thanks Matt. Good idea.

Are we all to assume that most/all current providers will move to the 55p cap limit from first Oct? Kinda moot in a way as I’ve done an amount of research, made the switch etc, and am certain I’ve made the right move in limiting what could have been a much bigger increase as best as possible, but agree, our spend amount is only going one way.

Yes, every energy company will move their flexible tariffs to the new cap. If you can lock in the 40p rate for a year, you'll have done well. Predictions are another doubling by spring, so closer to 90p/kWh!

Lets hope some intervention is put into place because our bill in 2020 was £150/month and we're facing £650/month in October!

Ditching the ICE will save about £200/month in diesel costs and we're getting solar and a battery fitted in October to cut costs further.

 

[MattM76]

I've just switched (today) from Octopus flex (29p/kWh) to Octopus Go at 40/7.5. Now considering whether I should look at Intelligent Octopus now and secure a longer off-peak charging period.

I had the same thought and likely will. You do need the EV though to test charge before you can complete your switch to Intelligent.

 

[Gadgetman67]

We were cluttering up the Model Y topic, so I figured we could start a new on here.

In reply to @_Dave_ ( 37 minutes ago )

Yes, 40p during the day seems very steep but the new cap has been announced for October, and it's 55p, so now it seems cheap! Charging the car overnight and scheduling energy hungry appliances like dishwasher, washing machine and tumble driers during the cheap rate will help reduce your bill. Also consider smart plugs to schedule charging of battery based appliances. Every little helps.

Hi Matt, I've switched recently the same as you. Actually to Go as my smartmeter won't communicate, thats another story. My Y is arriving on a home delivery on the 15th Sept. We have started putting the dishwasher/washing machine and tumble dryer on at night to take advantage of the 7.5p. I don’t really know how much that saves us.

The real advantage here is we are both locked in for 12 months!

PS. I also work from home. We will be paying more for electric no matter what but I do feel a little comfort being on this tariff.

 

[robbieduncan]

As someone locked in at 40p I'm hoping the intervention is a larger credit (basically extension of the existing £400) rather than something that moves the cap down a bit (unless it moves it below 40p as you can always leave Go to go back to SVR). Totally selfish obviously.

 

[MattM76]

Here's the crazy thing. Say electricity hit 90/kWh or superchargers hit 90p/kWh then electric car costs more to fuel than an ICE.

Figures used: 90p/kWh / £1.86/litre diesel (what I paid this morning)

 

[MattM76]

Hi Matt, I've switched recently the same as you. Actually to Go as my smartmeter won't communicate, thats another story. My Y is arriving on a home delivery on the 15th Sept. We have started putting the dishwasher/washing machine and tumble dryer on at night to take advantage of the 7.5p. I don’t really know how much that saves us.

The real advantage here is we are both locked in for 12 months!

PS. I also work from home. We will be paying more for electric no matter what but I do feel a little comfort being on this tariff.

I have an EcoFlow Delta Max 2kWh battery that can be charged from solar. I'm going to play around with a spare solar panel I have to see if I can get it on the shed roof and power the EcoFlow so I can run my office "off the grid".

A tumble drier can use around 4kWh of electricity for a full load. That's 30p using Go prices, or £2 using October caps prices. So you save £1.70 on each load. Spread that out over the year, and you're easily £200 better off just on that one applicance. That's how big the gap is getting.

I bought it to hedge against potential rolling blackouts this winter.

 

[WllXM]

Here's the crazy thing. Say electricity hit 90/kWh or superchargers hit 90p/kWh then electric car costs more to fuel than an ICE.

View attachment 845358

Figures used: 90p/kWh / £1.86/litre diesel (what I paid this morning)

Yep, starting to feel like we got scammed buying into EVs.

However I will mitigate that by saying that businesses and superchargers have never been constrained by the price cap, that applies only for households, therefore the 50p we're paying now at public chargers is the market rate. Therefore the price cap hike should not have an impact on that in the near future.

 

[MattM76]

As someone locked in at 40p I'm hoping the intervention is a larger credit (basically extension of the existing £400) rather than something that moves the cap down a bit (unless it moves it below 40p as you can always leave Go to go back to SVR). Totally selfish obviously.

With prices set to rise through spring and flatline during summer, I think any intervention is unlikely to better Go.

 

[MattM76]

Yep, starting to feel like we got scammed buying into EVs.

However I will mitigate that by saying that businesses and superchargers have never been constrained by the price cap, that applies only for households, therefore the 50p we're paying now at public chargers is the market rate. Therefore the price cap hike should not have an impact on that in the near future.

When I ordered the MY, I was paying 12p/kWh.

If anyone was thinking of not bothering to get a home charger and instead rely on the public network, then it's definitely time to think again and secure a smart tariff to reduces charging costs.

If we run the comparison again using the 7.5p tariff:

 

[page3]

Here's the crazy thing. Say electricity hit 90/kWh or superchargers hit 90p/kWh then electric car costs more to fuel than an ICE.

View attachment 845358

Figures used: 90p/kWh / £1.86/litre diesel (what I paid this morning)

There almost no parity between those two vehicles, making the comparison rather pointless.

 

[MattM76]

There almost no parity between those two vehicles, making the comparison rather pointless.

I was just curious on where the crossover point (parity between electric based charging and diesel fuel costs) was based on escalating electricity costs.

 

[WllXM]

Let's not be dramatic but I can see how some people could see it as a bait & switch. Attracted to EVs for the low charging cost, petrol at nearly £2, and now... prices at pump are going down, but electricity goes through the roof at +80%.... happy times...

 

[MattM76]

Let's not be dramatic but I can see how some people could see it as a bait & switch. Attracted to EVs for the low charging cost, petrol at nearly £2, and now... prices at pump are going down, but electricity goes through the roof at +80%.... happy times...

I think there's many benefits to an EV beyond charging costs, although in the long term, electric costs will go back down and fuel is only going to go up.