Octopus Go and October Price Cap

[mattman]

I've recently had to move to a new pricier Octopus GO tariff:

Standing Charge: 51.36/day
Peak: 40.90p/kWh
Off Peak: 7.50 p/kWh

Do they have to drop the unit rate to the new price cap?

I've had an email saying they're changing my gas rate but no news on the electricity.

[mediaguy]

All time of use tariffs are supposed to drop so that the average cost between the two tariffs comes to the 34p price cap. It's quite likely that 7.5/40 easily fits this average.

[SteveJ180]

Yes, it's an average. I'm on the 36/7.5 tariff and my last bill came in at 15p average, so well below the capped rate.

[sidehaas]

All time of use tariffs are supposed to drop so that the average cost between the two tariffs comes to the 34p price cap. It's quite likely that 7.5/40 easily fits this average.

Where have you seen that? I was very much under the impression that what happens to Go and Go Faster is still TBC.

[mediaguy]

All time of use tariffs are supposed to drop so that the average cost between the two tariffs comes to the 34p price cap. It's quite likely that 7.5/40 easily fits this average.

Where have you seen that? I was very much under the impression that what happens to Go and Go Faster is still TBC.

[phixion]

So Octopus Go in my area is quoting me:

Octopus Go
Unit rate (04:30 - 00:30): 40.06p/kWh
Unit rate (00:30 - 04:30): 7.50p/kWh
Standing Charge: 47.86p/day

Octopus Go Faster (5H from 2130) July 2022 v1
Eco 7 Electricity
Day unit rate: 40.06 p/kWh
Night unit rate: 8.25 p/kWh
Standing charge: 47.86 p/day
Description:Octopus Go Faster (5H from 2130) July 2022 v1

Are these prices going to change come October?

I'm thinking the 2nd tariff would be useful because I could do my laundry from 9.30pm and get it done cheaper. That works right? All power usage costs the reduced Night unit rate after 9.30pm until 2.30pm?

[turntoport]

Phixion; i've just accepted a 12m contract 'renewal', commencing 1 Nov, for 'Go Faster 5 (hr)' at the rates you describe (i.e. 8.25/40.06). So they will be the 'new', post government intervention rates: Octopus are far too on-the-ball to get this wrong -they seem to be leading government strategy, rather than following it - or the lack thereof.
Obviously shifting as much use as you can from 'daytime' to the overnight period is advantageous. For those with hot water 'tanks', it's now 30%+ cheaper to heat it with electricity than with gas (cheep hrs only, obs). I now wish (?) i'd paid extra for the 12 module pack; when v2g arrives it will be well worthwhile - until limitless free fusion energy arrives, of course.

'Intelligent' should improve upon this noticeably, but will need some domestic investment in 'smart switches' (for non-car use) to optimise it.
All this Hydrogen b*ll*cks in the Daily Trashpress drives me nuts; those 'journalists' are a disgrace to the name.
Atb - ttp

[sidehaas]

I'm thinking the 2nd tariff would be useful because I could do my laundry from 9.30pm and get it done cheaper. That works right? All power usage costs the reduced Night unit rate after 9.30pm until 2.30pm?

Yes.
Go Faster is available in 4 hour slots at 7.5p as well as the 5 hour slots at 8.25p, it just means you can flex the slots. We have 0230-0630.

[Dinsdale]

All time of use tariffs are supposed to drop so that the average cost between the two tariffs comes to the 34p price cap. It's quite likely that 7.5/40 easily fits this average.

Yes, the average there is 34.58p

[phixion]

I honestly don't know what to do. Currently my bill is £311/month direct debit. From October on, Scottish Power want £426!

Not sure if Octopus Go Faster would work out cheaper if I did the laundry after 9.30pm.

We don't use the car that much, we usually do 5-6K miles per year.

[Turquoise]

I honestly don't know what to do. Currently my bill is £311/month direct debit. From October on, Scottish Power want £426!

Not sure if Octopus Go Faster would work out cheaper if I did the laundry after 9.30pm.

We don't use the car that much, we usually do 5-6K miles per year.

This might help?

Octopus Go Spreadsheet https://docs.google.com/spreadsheets/d/ ... sp=sharing

[phixion]

I honestly don't know what to do. Currently my bill is £311/month direct debit. From October on, Scottish Power want £426!

Not sure if Octopus Go Faster would work out cheaper if I did the laundry after 9.30pm.

We don't use the car that much, we usually do 5-6K miles per year.

This might help?

Octopus Go Spreadsheet https://docs.google.com/spreadsheets/d/ ... sp=sharing

Yeah thanks, I've used it in the past. Just hard to work out whether saving chores til after 9.30pm will offset the higher peak price.

[smyth1492]

We based our calculations on 8000 miles per year charging at home and 3300kwh of electric outside of the car and it just about works out based on that. We have also moved running the dishwasher and washing machine to the 4 HR cheaper window to help get the best out of it.

We decided that at this stage we don't need to getup in the night to do cooking or hoovering.

Now that we have WeCharge Plus plan it's worth using the fast charge network for those times we can't charge quick enough at home as that's cheaper than the day rate

[Turquoise]

I honestly don't know what to do. Currently my bill is £311/month direct debit. From October on, Scottish Power want £426!

Not sure if Octopus Go Faster would work out cheaper if I did the laundry after 9.30pm.

We don't use the car that much, we usually do 5-6K miles per year.

This might help?

Octopus Go Spreadsheet https://docs.google.com/spreadsheets/d/ ... sp=sharing

Yeah thanks, I've used it in the past. Just hard to work out whether saving chores til after 9.30pm will offset the higher peak price.

There's a much more detailed spreadsheet that includes estimates for bumping washing machine/dishwasher to the night rate on the ID3 Facebook group. I've got timers on both so they now run at 1am, except that I forgot to hit 'go' on the dishwasher last night so that went on full price this morning. Looking forward to having a battery so that hopefully all my usage will be either off solar or the night rate!

[Mikster]

I am on the 35/7.5 Octopus Go. Prob do around 10,000 miles and we are scheduling washing machine, dishwasher and occasional tumble dry during the off peak hours. When your bill comes in it gives an average pence per kWh taking into account consumption off-peak and peak. Ours came in at 25p per kWH - hope that helps to give you a feel.

In terms of the company themselves - I cannot fault them. Excellent and prompt customer service. The app and website are pretty good and if you want to be geeky you can download detailed energy consumption data to see when your peaks and troughs are happening….