Non-motoring > Electricity prices down Miscellaneous
Thread Author: smokie Replies: 9
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New Fri 23 Jun 23 20:46 
 Electricity prices down - smokie
Many tariffs seem to be dropping from 1 July, by quite a sizeable chunk in some places.

I was lucky enough to go onto an Octopus Go Faster tariff about this time last year which the daytime rate was 41.1 and the overnight 7.5. This has since gone up, and it looks like it isn't coming down.

But they have another smart tariff (Intelligent Octopus) which the day rate is down by about 25% from it's current position, or 10% of my current cost, so at the moment that feels like the one I should switch to at the end of my tariff.

I hope the drops are widespread and permanent!!
Last edited by: smokie on Fri 23 Jun 23 at 23:38
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New Fri 23 Jun 23 22:26 
 Electricity prices down - sooty123
I read the title and thought part of the grid was down.
Last edited by: smokie on Fri 23 Jun 23 at 23:38
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New Fri 23 Jun 23 23:39 
 Electricity prices down - smokie
Oops sorry, didn't mean to cause alarm. Corrected...
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New Sat 24 Jun 23 10:00 
 Electricity prices down - Rudedog
Hopefully someone can explain this...

BG have promoting themselves on a recent radio ad campaign saying that they are investing in improvements in the storage infrastructure which in the their words would lead to a better future for supply and stable prices.

There is another campaign for a massive increase in on-shore wind and solar electricity generation, again to protect the UK's future supply and prevent another wave of price rises.

Both sound great news apart from the fact that I'm sure I heard it either on here or on the business news that electricity and gas prices are determined on the world market regardless of domestic supply....

So are both of these campaigns slightly misleading?
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New Sat 24 Jun 23 11:10 
 Electricity prices down - Terry
Most of the energy industry is in private hands (not nationalised) and only partially regulated.

1. Oil and gas prices are determined by international markets. A North Sea operator can chose where to ship the output. As the UK is not self sufficient it needs to buy top up supplies on the international market and pay the going rate.

The best from a taxpayer perspective is that windfall taxes are applied to North Sea output - what the government does with the money is a different matter.

2. Wind, solar and nuclear are fundamentally more difficult to export. Cables allow the import/export of electricity although there is no doubt a capacity constraint. Prices are unlikely to be as volatile as oil and gas anyway - cost are high investment and low running costs.

3. I would regard most of the spin produced by energy providers to be heavily laced with spin - investment in storage infrastructure and green generation will take several years. It is right to do it, but it is not a quick fix!
Last edited by: Terry on Sat 24 Jun 23 at 11:11
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New Mon 26 Jun 23 08:00 
 Electricity prices down - sooty123
>> Hopefully someone can explain this...
>>
>> BG have promoting themselves on a recent radio ad campaign saying that they are investing
>> in improvements in the storage infrastructure which in the their words would lead to a
>> better future for supply and stable prices.
>>

An FT article about challenges in infrastructure for the grid in the coming years.


archive.ph/lcT7Z
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New Mon 26 Jun 23 08:33 
 Electricity prices down - Zero

>> Both sound great news apart from the fact that I'm sure I heard it either
>> on here or on the business news that electricity and gas prices are determined on
>> the world market regardless of domestic supply....
>>
>> So are both of these campaigns slightly misleading?

There is two factors to worry about. Cost of energy, and security / continuity of energy.

Domestically if you have plenty of it, you aint buying it from elsewhere, and that will shave the global price down. If everyone has plenty of it locally, the global price will plummet. (of course that has the great advantage that no-one will invest in energy supply because there is no profit in it, and you can see where that ends up)
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New Mon 26 Jun 23 12:47 
 Electricity prices down - VxFan
Our electric price seems as high as ever, but our gas price has come down from £178 a month to £105. E.On have also reintroduced fixed price tariffs again. Well last week they had one FP tariff. I suspect more will appear as time goes on.
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New Mon 26 Jun 23 12:55 
 Electricity prices down - Bromptonaut
Gas is down from 10.17p/unit to 7.39p

Day electric down from 38p to 31.87 though oddly the E7 rate is up slightly from 22.91 to 23.18.

DD has been revised too.
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New Tue 27 Jun 23 15:33 
 Electricity prices down - legacylad
I’m currently on the Octopus Flexible tariff....my only option to change tariffs within a Octopus is the ‘Loyal Octopus 12month Fixed’.
I don’t have a smart meter, and no EV.

Current tariff is ..Loyal Octopus in brackets....Elec daily standing charge 49.77 (49.77) units 29.94 ( 30.59). Gas daily standing charge 27.47 (27.47) units 7.51 ( 7.67).

Pretty much identical...until the flexible tariff changes, one way or the other.

Is it worth changing my tariff to the 12month fixed at this point ? In the past 12 months I’ve only used 1300 units of electric and 950 of gas.

I’m more concerned about the price of beer in one of my locals increasing to £4 pint ( less 20p Camra discount)
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