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Octopus Go price increases..
- Thread starter DaveW
- Start date
Jason71
Well-Known Member
My parents were on the fence about joining Go in Feb because at 30p day rate it was 2p per kwh more than the price cap!Indeed. It's actually a bargain.
I was like. Trust me in a few weeks or months it will look like a bargain. Very sadly I was right.
We might get back to a place where Agile is a better deal, although the 35p cap on that surely won't last for much longer. I don't really see how Go is sustainable, the lowest CO2 production is generally isn't the middle of the night.Indeed. It's actually a bargain.
CO2 may only be part of Octopus remit? if slower fossil or nuclear generation has to generate overnight, then utlising that excess capacity may be worthwhile for them financially?
the increased peak rate (presumably because its a 12 month fix) does make it harder to justify the off peak discount unless you can shift more usage out of peak. Woudl it be possible for them to do an SVR with a discounted off peak component?
My renewal came through at
Your new Octopus Go prices
Peak unit rate: 39.25p / kWh
Off-peak unit rate: 7.50p / kWh
Standing charge: 41.98p / day
Estimated annual cost (electricity only): £2,870.42
I can't see where they got the estimated annual forecast though...it's over 200% more than I calculated.
I was on the Go Faster 7.5/15.9p tariff, so it's a big increase. They have only offered a 4 hour window as well, starting from 00:30 instead of 20:30. There is, apparently, a 5 hour version available, starting from 21:20, at 8.25p. However, looking at it, going on Intelligent Octopus might make more sense as that's been offered at 6 hours off-peak at 7.5p. The peak and standing charges are the same as the quoted Go rates.
I have 8.2kW of battery storage and I'm seriously thinking of installing another 9.5kW. The existing 8.2 wouldn't last a full day in winter and I'd end up using some peak rates.
I bet that most on here are relatively well off, but even increases of this sort hurts. How will those far less fortunate cope, especially as the cap is due to increase again in Autumn?
Your new Octopus Go prices
Peak unit rate: 39.25p / kWh
Off-peak unit rate: 7.50p / kWh
Standing charge: 41.98p / day
Estimated annual cost (electricity only): £2,870.42
I can't see where they got the estimated annual forecast though...it's over 200% more than I calculated.
I was on the Go Faster 7.5/15.9p tariff, so it's a big increase. They have only offered a 4 hour window as well, starting from 00:30 instead of 20:30. There is, apparently, a 5 hour version available, starting from 21:20, at 8.25p. However, looking at it, going on Intelligent Octopus might make more sense as that's been offered at 6 hours off-peak at 7.5p. The peak and standing charges are the same as the quoted Go rates.
I have 8.2kW of battery storage and I'm seriously thinking of installing another 9.5kW. The existing 8.2 wouldn't last a full day in winter and I'd end up using some peak rates.
I bet that most on here are relatively well off, but even increases of this sort hurts. How will those far less fortunate cope, especially as the cap is due to increase again in Autumn?
that'll help a lot - for months with average solar generation you should be able to charge with solar while using solar and not much battery during the day. If you can end the day with a full 8kwh battery that should carry you through to your off peak period.
Have to weigh the cost of a couple of kWh a day at peak rates compared to the cost of another battery.
I have one Powerwall coming 13.5 kWh, my usage in Winter a little more than that in the day, but a second Powerwall just doesn't make financial sense to offset a few kWh a day, payback period is decades...
Yes, the solar helps. It takes a fair sunny day though to charge the battery, then heat the water (I have a solar diverter) and then charge the car. It helps though.
I agree on the payback period. I am using Givenergy batteries though, so another 9.5kW battery could be fitted for under £4K. Still, £4K buys a lot of electricity....
I agree on the payback period. I am using Givenergy batteries though, so another 9.5kW battery could be fitted for under £4K. Still, £4K buys a lot of electricity....
I have to confess that I’m slightly puzzled about the conviction that many EV owners have that Octopus is the “go to” electricity supplier for a decent EV tariff. I bought my MX way back in Sept 2019 and once my fix with Eon ran out in June 2020 I looked at all available non -smart meter ev tariffs (I didn’t have a smart meter at that time so needed a good 24 hour rate). EDF came out streets ahead of anybody else (including Octopus). I joined EDF and when my fix expired in June 2022 again I looked around - not a big choice as hardly any suppliers were offering tariffs to new customers. But Octopus offered tariffs (by phone) and again EDF beat them by a country mile. My current EDF 2 year fix (until June 2024) again beats Octopus. I now have a smart meter so I am on EDF goelectric35 which gives me 5 hours off peak at 4.5p, peak rate of 36p and standing charge of 49p. This IMHO (apart from the standing charge which pales into in insignificance) is much better that Octopus Go rates.
ACarneiro
Active Member
I’ll be surprised if those rates are still on offer, but thank you for pointing that out.
I did look into EDF briefly, but in the end decided to give a worthy disruptor my money. You don’t see any of the other suppliers coming up with tariffs that seriously try to solve the problem of grid congestion and emissionS reduction (like Octopus do with Intelligent Octopus)
I think they deserve it.
EDF have suspended their Go tariffs at the moment. I got a quote off them last week and they have declined to honour it.
Obviosly, if you have a deal that you fixed earlier in the year then you will be better off than anyone trying to get a deal at the moment.
My current Octopus Go Faster deal knocks your new EDF deal into a cocked hat (5 hours at 5.5 p per kWh and 15.5p peak. Standing charge 21 p per day). Unfortunately for me it expires in a few weeks.
Things are moving fast in the supply market and it looks like for the foreseeable future the direction is upwards.
Obviosly, if you have a deal that you fixed earlier in the year then you will be better off than anyone trying to get a deal at the moment.
My current Octopus Go Faster deal knocks your new EDF deal into a cocked hat (5 hours at 5.5 p per kWh and 15.5p peak. Standing charge 21 p per day). Unfortunately for me it expires in a few weeks.
Things are moving fast in the supply market and it looks like for the foreseeable future the direction is upwards.
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RedMod3
Member
Wow, I'm on Peak 15.59, Off-peak 5.00 and standing charge 25p.
I will certainly need my third Powerwall, that is due in October before I renew.
PITA
Model 3 Performance
RedMod3
Member
I will and I’ve incurred £10.90 in costs, including the standing charge so far this month in our all-electric place, and that includes the cost of running up to 5 aircon outlets most days.Enjoy it while it lasts
Our current Go rates from last August are 16.26p/5p. EDF were offering nothing that could compete with that at the time. Their peak rate was something like 24p. Because we have solar panels, we're spending under £100/month on electricity at the moment. It will go all to hell this winter, though.
I've ended up going for Intelligent Octopus. The standing charge and peak rates are the same as Go Faster. The big difference is that I now get 6 hours off peak (from 23:30) at 7.5p per kWh. On Go Faster, 5 hours off-peak would be 8.25p per kWh.
The one advantage of Go Faster is the earlier off-peak starting time of 21:30. However, having a home battery this is less important as the battery lets me "time-shift" my usage.
The one advantage of Go Faster is the earlier off-peak starting time of 21:30. However, having a home battery this is less important as the battery lets me "time-shift" my usage.