Countdown to Fridays OFGEM Q4 Price Cap Announcement

[Joeboy]

Interesting to see that Sweden, Spain and Portugal have wholesale electricity prices that are less than 30% of those for the big group of countries to the left of that chart. Spain only gets around 20% of its electricity from gas, though, versus the ~40% for the UK. Sweden barely uses any gas for electricity, most of it comes from renewables, nuclear and a little bit of coal, oil and gas.

I would be interested to see the figure of the kingdom of Nowty and what it pays per MWh across the year?
I may run this one myself too. Can we beat Spain as our own Nation? 'The mouse that roared' type thing.

Here's my run at it. Based on 7.5p per kWh/24.69p per kWh & a 98% success rate at keeping costs in the go faster window and excluding standing charges. I have went from Sept 21 to Aug 22. I am not counting any export as it is negligible. There is no gas.

Imported 9,103kWh electricity (8,920 kWh x 7.5p)= £669 (182 kWh x 24.69p) = £44.95 Total spend on Electricity £713.95.
Solaredge produced 3,654 kWh which generated £255 FIT.
Victron produced 3,000 kWh (Victron figure is a construct based on where I am now with that system).

15.757 MWh total power used

£45.31 per MWh without FIT
£29.12 per MWh with FIT discount applied.

Spain, who?

I have not included Ripple WT as Spain has had enough of a kicking today. We have already done 7,000 miles in the new EV and 6,000 miles of that have been charged at home. SWMBO uses it for her cottage hobby/business.

If I did include Ripple WT it would be £15.79 per MWh and that is on Ripple as is over a handful of months & then added a guesstimate at any small money SWMBO makes then the per MWh cost would be minus £79.45 per MWh.
That is almost beyond belief yet the figures don't lie.

[Adokforme]

Don't know if anyone has tested the MSE calculator for getting an idea of how much their bill is likely to increase by. but thought I'd put our last years consumption figure in to see what they might come too without all the paraphernalia etc we have installed and supporting us.
Got a bit of a shock, 9565 kWh's returned figures of £3030 currently and a whopping £5310 there after!

[Bugtownboy]

Interesting to see that Sweden, Spain and Portugal have wholesale electricity prices that are less than 30% of those for the big group of countries to the left of that chart. Spain only gets around 20% of its electricity from gas, though, versus the ~40% for the UK. Sweden barely uses any gas for electricity, most of it comes from renewables, nuclear and a little bit of coal, oil and gas.

I would be interested to see the figure of the kingdom of Nowty and what it pays per MWh across the year?
I may run this one myself too. Can we beat Spain as our own Nation? 'The mouse that roared' type thing.

Here's my run at it. Based on 7.5p per kWh/24.69p per kWh & a 98% success rate at keeping costs in the go faster window and excluding standing charges. I have went from Sept 21 to Aug 22. I am not counting any export as it is negligible. There is no gas.

Imported 9,103kWh electricity (8,920 kWh x 7.5p)= £669 (182 kWh x 24.69p) = £44.95 Total spend on Electricity £713.95.
Solaredge produced 3,654 kWh which generated £255 FIT.
Victron produced 3,000 kWh (Victron figure is a construct based on where I am now with that system).

15.757 MWh total power used

£45.31 per MWh without FIT
£29.12 per MWh with FIT discount applied.

Spain, who?

I have not included Ripple WT as Spain has had enough of a kicking today. We have already done 7,000 miles in the new EV and 6,000 miles of that have been charged at home. SWMBO uses it for her cottage hobby/business.

If I did include Ripple WT it would be £15.79 per MWh and that is on Ripple as is over a handful of months & then added a guesstimate at any small money SWMBO makes then the per MWh cost would be minus £79.45 per MWh.
That is almost beyond belief yet the figures don't lie.

Not wanting to rain on your parade, Joe, but should you also include depreciation on your investment/capital cost of your equipment over, say 15 (or possibly) 20 years ?

[Joeboy]

I would be interested to see the figure of the kingdom of Nowty and what it pays per MWh across the year?
I may run this one myself too. Can we beat Spain as our own Nation? 'The mouse that roared' type thing.

Here's my run at it. Based on 7.5p per kWh/24.69p per kWh & a 98% success rate at keeping costs in the go faster window and excluding standing charges. I have went from Sept 21 to Aug 22. I am not counting any export as it is negligible. There is no gas.

Imported 9,103kWh electricity (8,920 kWh x 7.5p)= £669 (182 kWh x 24.69p) = £44.95 Total spend on Electricity £713.95.
Solaredge produced 3,654 kWh which generated £255 FIT.
Victron produced 3,000 kWh (Victron figure is a construct based on where I am now with that system).

15.757 MWh total power used

£45.31 per MWh without FIT
£29.12 per MWh with FIT discount applied.

Spain, who?

I have not included Ripple WT as Spain has had enough of a kicking today. We have already done 7,000 miles in the new EV and 6,000 miles of that have been charged at home. SWMBO uses it for her cottage hobby/business.

If I did include Ripple WT it would be £15.79 per MWh and that is on Ripple as is over a handful of months & then added a guesstimate at any small money SWMBO makes then the per MWh cost would be minus £79.45 per MWh.
That is almost beyond belief yet the figures don't lie.

Not wanting to rain on your parade, Joe, but should you also include depreciation on your investment/capital cost of your equipment over, say 15 (or possibly) 20 years ?

I know but that takes away the fun! I could probably work out a standing charge to myself based on that but I've then got to allow for inflation and changing rates of return based on unknown political events.

Full payback expected in under seven years anyway...

Even stranger is the nation thought of Kirkhill coming online and the Kinlochbervie hydroturbine. The nation of Joeboy is multifaceted, fully green, fully renewable and operates at a profit. The capital expenditure will I'm sure be paid back by EU grants once I join!

[Oldgreybeard]

I worked out that our original PV investment paid for itself (including the miniscule lost income had the money been invested, rather than spent on the PV) after about 5 years. The system has now been running for about 7 1/2 years, so we've been "in profit" for the past 2 1/2 years, with that "profit" being substantially greater this year. So far this year we've generated around 4,200kWh and managed to self-consume about 96% of it, so even at the relatively cheap off-peak rate that's saved us about £750 so far this year.

[Oldgreybeard]

Just seen this, a comparison plot of energy price increases from 2021 to 2022 (so far). Created as a part of a pro-EU lobby group, so biased to show the UK in a bad light when compared with the EU, but nevertheless the source data looks reliable:

relative energy price rises.jpeg (90.23 KiB) Viewed 1406 times

[Joeboy]

Just seen this, a comparison plot of energy price increases from 2021 to 2022 (so far). Created as a part of a pro-EU lobby group, so biased to show the UK in a bad light when compared with the EU, but nevertheless the source data looks reliable:

relative energy price rises.jpeg

[nowty]

Interesting to see that Sweden, Spain and Portugal have wholesale electricity prices that are less than 30% of those for the big group of countries to the left of that chart. Spain only gets around 20% of its electricity from gas, though, versus the ~40% for the UK. Sweden barely uses any gas for electricity, most of it comes from renewables, nuclear and a little bit of coal, oil and gas.

I would be interested to see the figure of the kingdom of Nowty and what it pays per MWh across the year?
I may run this one myself too. Can we beat Spain as our own Nation? 'The mouse that roared' type thing.

OK, I’ll give it a go and do it over the past 12 month period I have firm figures for.
I will ignore Ripple Wind turbine generation and rebates as I have not got a years worth of data. Also ignored is out of house EV charging which is minimal. Octopus and Ripple referral rewards has also been ignored.

Over the past 12 months 01/07/21 to 31/06/22, here at Nowty Towers,

We generated 8,912 kWh and received £3,205 in FIT payments.

We purchased 9,573 kWh at a total cost (including SC) of £653.

So that’s a total leccy energy of 18.49 MWh.

£35.32 per MWh without FITs.
Minus £138.02 per MWh with FIT discount applied.

And for Bugboytown's comment about the capital costs and depreciation. I don't have a detailed record of all that but apart from the Ripple Wind investments, all the solar and battery gear was bought with cheap borrowed money and already paid back with the FIT payments.

[Joeboy]

Interesting to see that Sweden, Spain and Portugal have wholesale electricity prices that are less than 30% of those for the big group of countries to the left of that chart. Spain only gets around 20% of its electricity from gas, though, versus the ~40% for the UK. Sweden barely uses any gas for electricity, most of it comes from renewables, nuclear and a little bit of coal, oil and gas.

I would be interested to see the figure of the kingdom of Nowty and what it pays per MWh across the year?
I may run this one myself too. Can we beat Spain as our own Nation? 'The mouse that roared' type thing.

OK, I’ll give it a go and do it over the past 12 month period I have firm figures for.
I will ignore Ripple Wind turbine generation and rebates as I have not got a years worth of data. Also ignored is out of house EV charging which is minimal. Octopus and Ripple referral rewards has also been ignored.

Over the past 12 months 01/07/21 to 31/06/22, here at Nowty Towers,

We generated 8,912 kWh and received £3,205 in FIT payments.

We purchased 9,573 kWh at a total cost (including SC) of £653.

So that’s a total leccy energy of 18.49 MWh.

£35.32 per MWh without FITs.
Minus £138.02 per MWh with FIT discount applied.

And for Bugboytown's comment about the capital costs and depreciation. I don't have a detailed record of all that but apart from the Ripple Wind investments, all the solar and battery gear was bought with cheap borrowed money and already paid back with the FIT payments.

That is good going . Thinking of the 'nation' thing and all these power generation types that we are into gave it a bit of a new slant today.