Octopus Go New Tariffs

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owlservice
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Post by owlservice »

Thanks for the reply.

My ID3 is a company car, so will average around 15000 miles a year. I get 5p a mile back for business miles (so probably 12500 miles business). I average (without EV car), 1900 kWh for the past year, based on 19P kWh.

Octopus have offered me:

35p kWh (04:30 - 00:30)
7.5p kWh (00:30 - 04:00)
37.65p standing charge.
monkeyhanger wrote: Sat Apr 02, 2022 8:43 am
owlservice wrote: Sat Apr 02, 2022 8:15 am Been reading the comments.

I'm currently with British Gas, with no EV tariff available, currently.

I am debating whether to switch over to Octopus. My tariff ends at the end of April, then I move over to a flexible tariff.

I can't work out if those 4 hours of 7.5p kw EV tariff on Octopus, make up for the 35p kw for the remainder of the day. Or do I stick with BG, whose flexible is 28p kw?
Depends on your current usage for the house - if its sensible, and you do over 8k miles per year, you'll see your car usage in kWh as high as running the house. We use about 3500kWh per year for the house and about 4500kWh per year putting 12k miles on 2 x ID3s.

8000kWh @28p per kWh = £2240
3500kWh @35p per kWh + 4500kWh @7.5p per kWh = £1562

All that excludes daily charge, but Octopus is generally pretty cheap on that score. It all depends on how many miles you do a year and what your house usage is to see whether Octopus Go or BG at a flat rate works for you. If you use a hell of a lot of electricity in the house and do a tiny mileage, Octopus Go might not be for you.

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Post by monkeyhanger »

owlservice wrote: Sat Apr 02, 2022 6:58 pm Thanks for the reply.

My ID3 is a company car, so will average around 15000 miles a year. I get 5p a mile back for business miles (so probably 12500 miles business). I average (without EV car), 1900 kWh for the past year, based on 19P kWh.

Octopus have offered me:

35p kWh (04:30 - 00:30)
7.5p kWh (00:30 - 04:00)
37.65p standing charge.
monkeyhanger wrote: Sat Apr 02, 2022 8:43 am
owlservice wrote: Sat Apr 02, 2022 8:15 am Been reading the comments.

I'm currently with British Gas, with no EV tariff available, currently.

I am debating whether to switch over to Octopus. My tariff ends at the end of April, then I move over to a flexible tariff.

I can't work out if those 4 hours of 7.5p kw EV tariff on Octopus, make up for the 35p kw for the remainder of the day. Or do I stick with BG, whose flexible is 28p kw?
Depends on your current usage for the house - if its sensible, and you do over 8k miles per year, you'll see your car usage in kWh as high as running the house. We use about 3500kWh per year for the house and about 4500kWh per year putting 12k miles on 2 x ID3s.

8000kWh @28p per kWh = £2240
3500kWh @35p per kWh + 4500kWh @7.5p per kWh = £1562

All that excludes daily charge, but Octopus is generally pretty cheap on that score. It all depends on how many miles you do a year and what your house usage is to see whether Octopus Go or BG at a flat rate works for you. If you use a hell of a lot of electricity in the house and do a tiny mileage, Octopus Go might not be for you.
5p per mile for business use? That's scandalous. You'll be in the black if you make use of the cheap rate, but on standard rates or rapid charging while on the road, you're going to be seriously out of pocket. Presumably that 5p a mile rate established before electricity prices doubled, and even at 10p a mile, you're likely to be out of pocket on the standard home and rapid charger rates.
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owlservice
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Post by owlservice »

Agreed. 5p is nothing. I suppose the company car tax saving will offset this quite a bit. My company car tax for the new financial year is £140 for the year. I was paying more than that for 1 calendar month with the diesel. I estimate I'll get over £200 a month back with the tax saving.
monkeyhanger wrote: Sat Apr 02, 2022 7:28 pm
owlservice wrote: Sat Apr 02, 2022 6:58 pm Thanks for the reply.

My ID3 is a company car, so will average around 15000 miles a year. I get 5p a mile back for business miles (so probably 12500 miles business). I average (without EV car), 1900 kWh for the past year, based on 19P kWh.

Octopus have offered me:

35p kWh (04:30 - 00:30)
7.5p kWh (00:30 - 04:00)
37.65p standing charge.
monkeyhanger wrote: Sat Apr 02, 2022 8:43 am

Depends on your current usage for the house - if its sensible, and you do over 8k miles per year, you'll see your car usage in kWh as high as running the house. We use about 3500kWh per year for the house and about 4500kWh per year putting 12k miles on 2 x ID3s.

8000kWh @28p per kWh = £2240
3500kWh @35p per kWh + 4500kWh @7.5p per kWh = £1562

All that excludes daily charge, but Octopus is generally pretty cheap on that score. It all depends on how many miles you do a year and what your house usage is to see whether Octopus Go or BG at a flat rate works for you. If you use a hell of a lot of electricity in the house and do a tiny mileage, Octopus Go might not be for you.
5p per mile for business use? That's scandalous. You'll be in the black if you make use of the cheap rate, but on standard rates or rapid charging while on the road, you're going to be seriously out of pocket. Presumably that 5p a mile rate established before electricity prices doubled, and even at 10p a mile, you're likely to be out of pocket on the standard home and rapid charger rates.
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Post by van »

The bubble has to burst at some point. There's no way they're buying electricity at the rate they're selling it. If you think they have a magic wand where have you been in the last few months?
Wholesale prices have gone up astronomically. They can only be subsidised by their parent group for so long.
Yeah, ride it for as long as you can, why not?

But reality will bite one day, the bubble will burst and we will all be paying the true cost for energy.

It's late, my team failed big today. I'm going to bed. Good night 😿
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Post by monkeyhanger »

owlservice wrote: Sat Apr 02, 2022 9:54 pm Agreed. 5p is nothing. I suppose the company car tax saving will offset this quite a bit. My company car tax for the new financial year is £140 for the year. I was paying more than that for 1 calendar month with the diesel. I estimate I'll get over £200 a month back with the tax saving.

The HMRC guidance does allow some flexibility if your finance company can be arsed to apply onan individual basis: "If your cars are more fuel efficient, or if the cost of business travel is higher than the guideline rates, you can use your own rates to reflect your situation.

If you pay rates that are higher than the advisory rates but cannot show the fuel cost per mile is higher, there will be no fuel benefit charge if the mileage payments are only for business travel. Instead, you’ll have to treat any excess as taxable profit and as earnings for Class 1 National Insurance purposes.".

If you can show your charging rates cost more than 5p per mile, ut can be done.

That 5p per mile rate was set up before electricity prices have doubled, and haven't changed For petrol and diesel, the reimbursement rate has changed frequently with pump prices.

I'm presuming the easiest (but slightly inconvenient) way of doing it would be to charge your car at home on the cheap rate to cover your own miles and then top up on rapid chargers to replenish lecrricity use from company miles and submit expense receipts for it.

I suppose it depends how many company miles you're doing and how often you need to charge outside the overnight cheap window. If you will have to rapid charge often (last time I used one was in October 2021, at 30p per kWh, presumably we're at 50 -60p per kWh now) because you're doing a round trip further than the car's range, you'll be noticeably out of pocket on the 5p per mile terms.

I've never had a company car, but I'll be getting a car allowance soon - working a 3 month notice period before starting new job which comes with a company car mileage and will require moderate business miles
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phixion
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Post by phixion »

I've been in touch with Octopus and they say that I am most likely better off sticking with my current provider and going on to the default tariff to be protected by the government energy price cap.

I think Octopus Go is 45-55p kWh at peak time, 7.5p off peak. (still have to verify this)

Price cap is like 27.5p kWh 24/7.
Last edited by phixion on Tue Apr 12, 2022 12:52 pm, edited 1 time in total.
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Post by sidehaas »

phixion wrote: Tue Apr 12, 2022 11:53 am

I think Octopus Go is 45-55p kWh at peak time, 7.5p off peak. (still have to verify this)
Bit shocked at that daytime rate! I just double checked the rate for new joiners in my area and it has indeed gone up in the last week or two, but from 32.5p (as it had been since New Year) to 37p, so not quite as bad as 45-55p!

(To check, just google Octopus Go, click Find my Rates and put in your postcode.)
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Turquoise
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Post by Turquoise »

phixion wrote: Tue Apr 12, 2022 11:53 am I've been in touch with Octopus and they say that I am most likely better off sticking with my current provider and going on to the default tariff to be protected by the government energy price cap.

I think Octopus Go is 45-55p kWh at peak time, 7.5p off peak. (still have to verify this)

Price cap is like 28p kWh 24/7.
If you know how much energy you currently use per year for the house and about what mileage you're likely to do, along with rates, then this can help you work out if it's worth it:

https://docs.google.com/spreadsheets/d/ ... edit#gid=0
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Utumno
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Post by Utumno »

phixion wrote: Tue Apr 12, 2022 11:53 am I think Octopus Go is 45-55p kWh at peak time, 7.5p off peak. (still have to verify this)

Price cap is like 27.5p kWh 24/7.

Octopus Go is not 45-55p per kWh at peak time.

https://octopus.energy/tariffs/ then put in your postcode to find the tariff for your DNO.
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Post by phixion »

Turquoise wrote: Tue Apr 12, 2022 12:21 pm
phixion wrote: Tue Apr 12, 2022 11:53 am I've been in touch with Octopus and they say that I am most likely better off sticking with my current provider and going on to the default tariff to be protected by the government energy price cap.

I think Octopus Go is 45-55p kWh at peak time, 7.5p off peak. (still have to verify this)

Price cap is like 28p kWh 24/7.
If you know how much energy you currently use per year for the house and about what mileage you're likely to do, along with rates, then this can help you work out if it's worth it:

https://docs.google.com/spreadsheets/d/ ... edit#gid=0
Yeah thanks I've checked that. Just got off the phone to Scottish Power and Octopus and it seems I'd be better off on the price cap tariff with Scottish Power considering my mileage (about 6K per year).

I just got quoted:

Octopus Go
Day rate: 35.05
Night rate: 7.5
Standing charge: 47.86

Scottish Power
Price cap/kWh: 27.5
Price cap standing charge 40
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MotMot
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Post by MotMot »

I swapped about 6 weeks before the new cap rate and managed to get OG at 30/7.5p with a 25p standing charge…
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Post by monkeyhanger »

MotMot wrote: Tue Apr 12, 2022 1:43 pm I swapped about 6 weeks before the new cap rate and managed to get OG at 30/7.5p with a 25p standing charge…
I was informed a few weeks ago by letter that my Go rate was going to be 30p/7.5p and I need do nothing when my current 15p/5p deal ends 21st May. I contacted Octopus today to up my combined DD from £78pm to £140 as my £50 switch and £90 VW discount has just about eroded to nothing, only to be reminded that my Go will switch to 35p/7.5p. Not impressed. They say rates went up after the issuance of my letter, for anyone who's deal switches after 12th May. Asked if I could switch before then to get 30p/7.5p and was told that I couldn't. Pretty shabby of them to say do nothing and you'll move to tariff A, only to be told its now tariff B. Still cheaper than anywhere else overall when my Go usage is taken into account.
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Utumno
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Post by Utumno »

monkeyhanger wrote: Fri Apr 22, 2022 2:00 pm
MotMot wrote: Tue Apr 12, 2022 1:43 pm I swapped about 6 weeks before the new cap rate and managed to get OG at 30/7.5p with a 25p standing charge…
I was informed a few weeks ago by letter that my Go rate was going to be 30p/7.5p and I need do nothing when my current 15p/5p deal ends 21st May. I contacted Octopus today to up my combined DD from £78pm to £140 as my £50 switch and £90 VW discount has just about eroded to nothing, only to be reminded that my Go will switch to 35p/7.5p. Not impressed. They say rates went up after the issuance of my letter, for anyone who's deal switches after 12th May. Asked if I could switch before then to get 30p/7.5p and was told that I couldn't. Pretty shabby of them to say do nothing and you'll move to tariff A, only to be told its now tariff B. Still cheaper than anywhere else overall when my Go usage is taken into account.

I assume you didn't lock in the rate when the email came in? I think I got the same email in March sometime when our "Go 2018" rates (13.8/5p) were due to end in mid-April, with very similar wording. I didn't believe a word of "you need do nothing" and locked in the "new" Go rate from mid-April as soon as the email came, on the basis that I reckoned Octopus would move me to whatever that tariff was priced at unless I locked it in early. Turns out my paranoia was right (and also I'd like to state for the record that it's only paranoia if they're not out to get you, otherwise it's just a well-adjusted reaction 😂)

So in my case I've locked Go's December rates for a year starting mid-April, so I'm actually on "Octopus Go December 2021 v1" and that won't end until mid-April next year. It's weird, but I'm glad I locked in early; the standing charge change alone would have cost me nearly £70 a year extra not to mention the additional 4.25p/kWh on peak rates!

Tariff I think I'd have been on if I hadn't clicked the button in the email:
Octopus Go March 2022 v1
Day unit rate: 34.86 p/kWh
Night unit rate: 7.5 p/kWh
Standing charge: 43.12 p/day (holy motherforking shirtballs!)

Tariff I am actually now on, expiring 13 April 2023:
Octopus Go December 2021 v1
Day unit rate: 30.61 p/kWh
Night unit rate: 7.5 p/kWh
Standing charge: 24.11 p/day

Original Octopus Go Tariff:
Octopus Go June 2018 v1
Day unit rate: 13.8 p/kWh
Night unit rate: 5 p/kWh
Standing charge: 25 p/day
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Post by monkeyhanger »

Oh, rub it in why don't you? :lol:

It's the fact that they've lied to me. If they told me to switch now (when I got the letter) to lock in the preferred rate, I'd have done so. I suppose I'll have to make good use of the 1 month I have left of 15p/5p rates.

If these new rates are all about rising gas prices due to supply/demand on the wholesale market as Eurooe minimises its use of Russian gas (and other factors), why are the greedy buggers doubling their standing charge?
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Post by sidehaas »

monkeyhanger wrote: Sat Apr 23, 2022 9:00 am Oh, rub it in why don't you? :lol:

It's the fact that they've lied to me. If they told me to switch now (when I got the letter) to lock in the preferred rate, I'd have done so. I suppose I'll have to make good use of the 1 month I have left of 15p/5p rates.

If these new rates are all about rising gas prices due to supply/demand on the wholesale market as Eurooe minimises its use of Russian gas (and other factors), why are the greedy buggers doubling their standing charge?
I get the impression you are pretty clued up on financial stuff, but if you have a renewal letter in writing from them with the lower price, can you not make them honour it? It might be worth a tweet to Greg Jackson, it think a few people have had success with that route.
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Post by Bromsgroveuser »

As i saw explained on tv the other day , the standing charge has gone up to pay for all the suppliers who went bust so they can charge what they want so greedy buggers would seem a fair description
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Post by Utumno »

monkeyhanger wrote: Sat Apr 23, 2022 9:00 am Oh, rub it in why don't you? :lol:

It's the fact that they've lied to me. If they told me to switch now (when I got the letter) to lock in the preferred rate, I'd have done so. I suppose I'll have to make good use of the 1 month I have left of 15p/5p rates.

If these new rates are all about rising gas prices due to supply/demand on the wholesale market as Eurooe minimises its use of Russian gas (and other factors), why are the greedy buggers doubling their standing charge?

Sorry wasn’t meaning to rub it in! Appreciate I wasn’t too clear though…

I think you’ve ended up with a decision from a “computer says no” OctoDrone and tweeting/emailing Greg Jackson (using my example if it’ll help!) and suggesting that the misleading email they sent should be recompensed by you being put at least on the same tariff as I accepted early on.

It’s just an email or tweet and might save you a few quid 🤷‍♂️
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Post by Utumno »

Bromsgroveuser wrote: Sat Apr 23, 2022 9:55 am As i saw explained on tv the other day , the standing charge has gone up to pay for all the suppliers who went bust so they can charge what they want so greedy buggers would seem a fair description

Government subsidy rewarding business failure due to unsustainable business practice is what it is. And the only place Government subsidy comes from is tax revenue. The only consolation is that if electricity supply was still publicly owned, it’d be an even worse and more expensive shitshow than it currently is.
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Post by monkeyhanger »

Got some great news today...

I got the same email as a few others have:

"we cocked up by not sending you a renewal notice and so we're leaving you on your current tariff for another year etc."

15p/5p per kWh and 24p a day standing charge. Excellent! Hope they cock up again next year.


Hi,

As with all of our cutting-edge smart tariffs, sometimes things can go a bit... wrong.

Your contract with us was recently coming up for renewal, and we were supposed to send an email notifying you of the new rates. But instead, we didn't. Sorry about that.

Your account was one of a handful affected, and nothing else other than the renewal dates was impacted.

Because we didn't notify you in advance, your rates aren’t increasing. We’ll keep them where they are for another 12 months.

Thanks for continuing to trial tariffs like Octopus Go. While there may be bumps along the way, together we’re demonstrating what the energy system of the future should be.

Love & Power,
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Utumno
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Post by Utumno »

monkeyhanger wrote: Thu May 19, 2022 7:34 pm Got some great news today...

I got the same email as a few others have:

"we cocked up by not sending you a renewal notice and so we're leaving you on your current tariff for another year etc."

15p/5p per kWh and 24p a day standing charge. Excellent! Hope they cock up again next year.


Hi,

As with all of our cutting-edge smart tariffs, sometimes things can go a bit... wrong.

Your contract with us was recently coming up for renewal, and we were supposed to send an email notifying you of the new rates. But instead, we didn't. Sorry about that.

Your account was one of a handful affected, and nothing else other than the renewal dates was impacted.

Because we didn't notify you in advance, your rates aren’t increasing. We’ll keep them where they are for another 12 months.

Thanks for continuing to trial tariffs like Octopus Go. While there may be bumps along the way, together we’re demonstrating what the energy system of the future should be.

Love & Power,

That's great news, and I bet that's something of a relief for you and household in these times.

Wish they'd cocked up like that with me ! Though I sneaked in on a lower tariff than many on renewal (Octopus Go December 2021 v1 - Fixed term ends 13/04/2023 - 30.61p/7.5p 24.11p/day)

Given the current tariff is 34.86p/7.5p/43.12p/day 😱 I've still saved £70 this year just in standing charges alone.
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