Fixed rate energy tariffs.

[chowbenter]

According to change.org are we going to see cheaper fixed rate tariffs return to the market in July? https://www.change.org/p/petition-t...=email&utm_source=petition_update&utm_term=cs

 

[Cocijo]

I hope rates do fall. I don’t think that particular link is a great indicator though. It’s primarily about petitions and people taking action.

 

[DBedford]

I hope rates do fall. I don’t think that particular link is a great indicator though. It’s primarily about partitions and people taking action.

If and when the rates do fall the cost of home batteries and solar should also come down to make them competitive. Pay back periods over 10-20 years are not good selling points .?

 

[Gomev]

Ofgem reckon they will fall.

Ofgem confirms energy price cap will "drop considerably" in July - Energy Live News

The level of the new price cap is expected to be announced next Thursday

www.energylivenews.com

 

[tsedge]

Latest predictions from Cornwall Insight (one of the more reliable predictors):

Predictions & Insights into the Default Tariff Cap (Price Cap)

Cornwall Insight is a trusted provider of forecast models for the Default Tariff Cap, commonly known as the price cap

www.cornwall-insight.com

 

[Lovemyev]

Latest predictions from Cornwall Insight (one of the more reliable predictors):

Predictions & Insights into the Default Tariff Cap (Price Cap)

Cornwall Insight is a trusted provider of forecast models for the Default Tariff Cap, commonly known as the price cap

www.cornwall-insight.com

The consumers friend Martin Lewis, tends to lean towards the prediction forecasts set out by Cornwall Insight.

 

[Tig170]

If and when the rates do fall the cost of home batteries and solar should also come down to make them competitive. Pay back periods over 10-20 years are not good selling points .?

Its way better than that currently, although admittedly we hit a sweet spot on a fixed tariff last year, at current rates we should hit less than 3 years payback on the battery & solar.

 

[DBedford]

How do you calculate the 3 year payback please?

With one of the cheapest solar and battery combinations at £7,500 you’re using £2,500 a year on electricity ? ? ?

 

[Tig170]

... we were, but with the right tariff & optimum kit, we save around £200-£250 / month, the key thing is to get the cheapest off peak tariff available, currently octopus @ 7.5p, so in a years time, our monthly cost is going to increase by around £10 / month.

 

[DBedford]

View attachment 17605... we were, but with the right tariff & optimum kit, we save around £200-£250 / month, the key thing is to get the cheapest off peak tariff available, currently octopus @ 7.5p, so in a years time, our monthly cost is going to increase by around £10 / month.

There is only three two of us in our 3 bed semi so with a typical Winter monthly electrical bill of £100-£120 I can’t, at my stage life see the payback benefits. ?

 

[Tig170]

There is only three two of us in our 3 bed semi so with a typical Winter monthly electrical bill of £100-£120 I can’t, at my stage life see the payback benefits. ?

I appreciate that, but were doing a full renovation, so took the opportunity to future proof the house, whilst we had funds (and manpower) available.

 

[Gadget Geek]

View attachment 17605 the key thing is to get the cheapest off peak tariff available,

Not neccesserily. You have ot look at how many hours you get at off peak. I get 90 hours a week off peak (whole weekend), so use less peak electricity. So although my off peak rate is higher, over the week it works out chaeper.

 

[Tig170]

Not neccesserily. You have ot look at how many hours you get at off peak. I get 90 hours a week off peak (whole weekend), so use less peak electricity. So although my off peak rate is higher, over the week it works out chaeper.

As I've noted every one is different, but 1/2 - 1 MW per month cost us between £22.5 to £45 (max., as I've ignored the "free" solar ~ 50-100kw per week in summer), hence we should achieve payback in around 3 years, at current rates.

 

[Gadget Geek]

As I've noted every one is different, but 1/2 - 1 MW per month cost us between £22.5 to £45 (max., as I've ignored the "free" solar ~ 50-100kw per week in summer), hence we should achieve payback in around 3 years, at current rates.

I was just pointing out to other readers that it's not only the cheapest off peak but for how many hours. Not disputing your figures. (My solar paid for itself in 4.5 years) and everyone has different circumstances and need to do their research and maths.