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FiT inflation adjustment
Posted: Sat Jan 01, 2022 12:02 pm
by greentangerine
What's the date at which the RPI is taken for the annual increment?
I'm guessing that with inflation high right now, the increase might be a decent amount.
Re: FiT inflation adjustment
Posted: Sat Jan 01, 2022 12:14 pm
by Galahad
It will be based on the ONS RPI at December 2021 and usually announced at the end of January coming in to effect from 1st April. Last year it was 1.2%.
The figure up to November is 7.1%.
https://www.ons.gov.uk/economy/inflatio ... /czbh/mm23
Re: FiT inflation adjustment
Posted: Sat Jan 01, 2022 12:28 pm
by AE-NMidlands
I am very pleased for you all...
It's better than the state and public sector pension increases which all depend on the September figure. I can't understand how "seasonal" price reductions on stuff like fruit and veg are always quoted as the reason the Sept figure seems lower than the figures for the rest of the year! Surely after year 1 the effect should be the same and an annual moving average shouldn't have a consistent dip at all?
A
Re: FiT inflation adjustment
Posted: Sat Jan 01, 2022 12:46 pm
by John_S
The December RPI will be announced on 19 January 2022
https://www.ons.gov.uk/economy/inflatio ... einflation
Re: FiT inflation adjustment
Posted: Mon Jan 03, 2022 2:52 pm
by dan_b
It's quite interesting to look into what the "basket of goods" that is used to decide on the consumer price index actually is, and how it changes year on year. It's highly likely that your own "personal rate of inflation" will be nothing like what the official inflation rates are.
In 2020, hybrid and fully electric cars were added, along with alchohol hand gel and home gym weights, smart watches, smart lightbulbs (!)
https://www.ons.gov.uk/economy/inflatio ... vices/2021
Re: FiT inflation adjustment
Posted: Wed Jan 19, 2022 7:15 am
by greentangerine
Seems we'll be getting 7.5% from spreadsheet just published.
Re: FiT inflation adjustment
Posted: Wed Jan 19, 2022 8:03 am
by Joeboy
greentangerine wrote: ↑Wed Jan 19, 2022 7:15 am
Seems we'll be getting 7.5% from spreadsheet just published.
Nice!
Re: FiT inflation adjustment
Posted: Wed Jan 19, 2022 10:19 am
by nowty
I make it 60.2p / kWh for those on the full whack or 62.4p / kWh if including the deemed export element.
So my main 4kW system is likely to top £2,500 for the first time.
When I joined the scheme in 2011, I wondered whether the rate could hit 100p / kWh by the end of my contract in 2034, back then I thought it just might. But over the past couple of years I thought it was unlikely, but now it feels much more likely.
Note - From 30th Feb 2030, RPI is being changed to equal CPIH, so the increases are likely to drop in the final years of contracts on the full whack.
Not a lot of people know that.