Octopus Go Rates Updated - 7.5p

[Ozzie1989]

Hi all, noticed the Octopus Go website updated today with new rate info. The message that you can't switch also seems to have gone (from this page at least). Rates for my area shown below as an example but you can obtain your own from this link:

Octopus Go

The UK's most awarded energy supplier. We're doing energy better - for you and the environment.

octopus.energy

 

[Lovemyev]

Hi all, noticed the Octopus Go website updated today with new rate info.

Here is a quote for us folks in the North Wales area !.

 

[pjmuk]

That wouldn't make any sense to switch to when the variable tariff would be capped at about 21p/kWh! You would be paying at least 10p more per kWh for normal hours usage!

 

[djenson]

That wouldn't make any sense to switch to when the variable tariff would be capped at about 21p/kWh! You would be paying at least 10p more per kWh for normal hours usage!

If you have an BEV and gas heating, it's likely that the car will be the primary user of electricity (or at least be a big factor in the electricity bill). Having the car charge 64.3% cheaper might be worth the 52.4% higher cost of normal hour usage in these cases, especially if you can schedule your appliances to make use of this as well.

 

[Lguk]

Mines still 5p/16p - locked in for a year in Sept. Looks like I'm in for a rude awakening come the end of summer.

 

[BillyWhizz]

thats what i am on at the moment not sure till when

 

[Ozzie1989]

Just completed the maths for my circumstances and GO is still cheaper for charging the EV. Here's the breakdown of YEARLY costs:

Flat Tariff (20.99p/kWH)
Electric Consumption (excl. EV): £1344
EV Electric Consumption (10 hours charge per week): £720
Flat Total: £2621

GO Tariff (30.77p/kWH day and 7.5p/kWH night 4 hours)
Electric Consumption (excl. EV): £1572
EV Electric Consumption (10 hours charge per week): £257.40
GO Total: £2386

So as you can see, it still works out cheaper. The more mileage you do in your EV, the better off you are on the GO tariff but ONLY IF you can charge up within the cheaper hours.

The above is an 'ideal scenario' where all 10 hours charging per week are done in the cheaper hours, there may be some cases where I cannot achieve this as I may do a long journey and need it again the next day for another long journey but I can at least limit it as best as I can to the cheaper hours.

I'm not on GO yet as I can't get an appointment to have smart meters fitted.

 

[Ozzie1989]

That wouldn't make any sense to switch to when the variable tariff would be capped at about 21p/kWh! You would be paying at least 10p more per kWh for normal hours usage!

As shown in my post above it doesn't quite work out like that. My heating is Gas and the main big ticket electrical items that consume the most is the electric heater in my workshop and the tumble dryer, neither of which I use in the summer so the savings will still be fairly significant.

 

[mystreet]

Main question is why are Octopus prices rising. They are 100% green. I don't think wind, sunlight and waves has gone up in price since the last time I checked

 

[Lovemyev]

Main question is why are Octopus prices rising. They are 100% green. I don't think wind, sunlight and waves has gone up in price since the last time I checked

Same could be said about my provider, EDF Energy.
They are almost totally running on nuclear which has not increased in price to produce, but the prices have shot up !.
Mind you, they are a French company, so we are going to get shafted then !.
Maybe we can trade some fish ? for some cheaper electricity ?.

 

[busa]

and the problem with it being a French company?????
Happy that EDF invested in nuclear??????

 

[Lovemyev]

and the problem with it being a French company?????
Happy that EDF invested in nuclear??????

Only that our relationship with them is not at its best at the moment let’s just say.
The U.K. has become TO reliant on gas to power our electric power stations and now we are importing the stuff, at what ever anybody wants to charge us.
I am shocked that nobody had seen this coming years ago !.
Egg’s in one basket comes to mind !.

 

[busa]

Do you also realise some of the UK "green " energy is in fact Electricity that is produced is places like the Netherlands using fossil fuels.
Energy prices are on the rise all over, including here in France

 

[rpannell]

As a comparison, the new EDF 96 hr cheap rate tariff (evenings and weekends) is:
cheap rate 16.3
Peak 38.5p (but depends on the area)
For me, the EDF 98hr tariff works out slightly cheaper for the combined house & car than Octopus but it depends upon your usage
The EDF 35 hr cheap tariff is still at 4.5p for the cheap rate.
I intend to be on the 98hr tariff for the winter months and the 35hr tariff for the summer months.

 

[Lovemyev]

As a comparison, the new EDF 96 hr cheap rate tariff (evenings and weekends) is:
cheap rate 16.3
Peak 38.5p (but depends on the area)
For me, the EDF 98hr tariff works out slightly cheaper for the combined house & car than Octopus but it depends upon your usage
The EDF 35 hr cheap tariff is still at 4.5p for the cheap rate.
I intend to be on the 98hr tariff for the winter months and the 35hr tariff for the summer months.

I don't think EDF are offering these tariffs at the moment.

 

[Ozzie1989]

Main question is why are Octopus prices rising. They are 100% green. I don't think wind, sunlight and waves has gone up in price since the last time I checked

Energy supply doesn't work like that. Octopus buy their energy from the National Grid like all the others do, if the grid is currently supplied with 50% fossil fuels then that's what your consuming right now. Check out National Grid: Live Status to see what we are using at any given time.

What Octopus do however is ensure that they purchase the equivalent amount of KWh used by their customers over a year in renewable energy, which is how they can claim they are 100% green. Personally I believe it's misleading customers into thinking exactly what you thought and they should be made to explain in simple but effective terms what is actually happening.

 

[rpannell]

I don't think EDF are offering these tariffs at the moment.

I purchased at this rate a few days ago when I rolled over from an expiring Go contract. I don't know if it is available to new customers.

 

[rpannell]

Energy supply doesn't work like that. Octopus buy their energy from the National Grid like all the others do, if the grid is currently supplied with 50% fossil fuels then that's what your consuming right now. Check out National Grid: Live Status to see what we are using at any given time.

What Octopus do however is ensure that they purchase the equivalent amount of KWh used by their customers over a year in renewable energy, which is how they can claim they are 100% green. Personally I believe it's misleading customers into thinking exactly what you thought and they should be made to explain in simple but effective terms what is actually happening.

Actually, Octopus don't buy an equivalent KWh of green energy. They buy a piece of paper from green energy companies. If you are an Octopus customer and Octopus are supplying you electricity from gas at the moment (because this is what the grid has), Octopus will never be able to buy and supply you with something different later to compensate from your gas energy. Once consumed, it is consumed. This is what it says on the Octopus website:
At Octopus Energy, all of our tariffs are 100% renewable electricity – which means we will match every unit of electricity you use with a renewable certificate for the same amount.
Like Ozzie1989, I think that the claims of many companies are misleading

 

[Ozzie1989]

Thanks, you explained it way better than me ?

 

[Cocijo]

I had an email from Octopus with a link to my suggested new tariff (currently Octopus Go stand charge 25p, peak 17.42p 0030-04.30 5p). The link took me to the new suggested tariff and I nearly fell over! 40.96p dayrate 26.98p nightrate! I need to call them! On a serious note; this could really stress out some more vulnerable people who are struggling. Anyone else having problems?