OVO sent me a 2 year fix offer essentially the same as the variable rate I’m paying now. Said, yeah, fine, evs.
This was after going on a comparison site looking at options and leaving my email address. I assume some software at OVO is then triggered to send a prompt to me as existing customer.
Futures prices say costs will likely be lower in Spring but probably not by very much. Whereas some major fkp in supply chain could properly stiff us. So, not bothered about it for a couple of years now.
In the hope that I haven’t missed seeing a similar post - here in the UK:
It amuses me that whilst there is a constant push for households to switch from rated to consumption for water supply …
… the policy for ever-increasing daily unit charges for electricity and gas supplies (combined with some reduction in the unit consumption charges) has the opposite effect.
I know that some of the daily charges is to recover funds spent in bailing out the energy providers which went bust in the last few years, so will a same “argument” be applied if and when a water company - say Thames Water - requires bailing out? i.e. will we see those on metered supply being hit with a fixed daily charge supposedly to pay for the infrastructure?
As for fixing: yes, recently rolled over into another 12mth deal with Octopus which, presently, appears to offer a small saving (and like HH we’re seeing a reduction in our monthly DDr). Quite why anyone is surprised that energy prices rise in Oct and Jan, and fall in Apr and Jul amazes me
I’ve just fixed electricity for 24m with existing supplier - there was hardly any difference from the 12m fixed price. Gives me peace of mind - although with my luck the price will probably plummet in 12m time. Good that 24m deals are starting to re-emerge.
It’s a lovely idea. Though with our consumption we’d pay about £180 just for electricity, whereas with Octopus we pay £145 for both electricity and gas.
Buying into a Ripple wind or solar project doesn’t change what you pay on your chosen tariff, other than that you receive a credit every month via your supplier for the power generated by your share. So it cannot increase your monthly payment.
Yes, payback time will depend on future electricity prices. If they spike again, ownership will mitigate this, and if they drop, you earn less, but then your bill should be lower anyway as retail prices reduce.
It seems to me like a good way to support renewable energy as you’re buying a share of an actual onshore wind turbine or solar installation. Ripple use your money to build it, and when it starts generating, they credit you for the wholesale price of that energy.
The payback is about 12 years. It is sort of intended for those that can’t have roof top solar. You receive about 4p per kWh, which is pretty poor. Octopus pay me 15p per kWh for my excess solar.
Get a decent installer to do the sums. They use fancy software to oredict what you should get. These days, my home batteries earn their money. Charge at 7p overnight, then run the house all day. Sell excess solar at 15p.
Payback on my PV and battery is about 6 years.