Go VS Agile

[Oldgreybeard]

In terms of what they could legally do, then I'm pretty sure that the worst would be to just cancel your electricity supply contract. I don't think there is anything at all they can do about a Ripple investment. The fact that having a contract cancelled might remove Ripple benefits is probably neither here nor there as far as Octopus go, they could argue that they aren't responsible for Ripple and that their cooperation with the scheme is wholly dependent on customers not trying to defraud Octopus.

What they would do in reality I don't know, but my guess is that they would be far less harsh than the law allows, simply because they most probably won't want the hassle. They've got a track record of being benevolent to existing customers (keeping them on older and more generous tariffs for example) so I doubt they would actually do anything too drastic.

[nowty]

Could they force you to sell the ripple investment? And if so on what grounds, because it sounds like they could just revoke it with no repayment.

I ask because I'm always paranoid that if you don't have something in your possession you can't be certain that you can use it and "the system" will just make up rules to it's own benefit.

The rules are quite back and white in the Customer agreement and in practise there are no shortage of people on the waiting list to buy shares off folk withdrawing from the Coop. You are refunded, minus a withdrawal fee (£50) and any depreciation 1/240 per calendar month expired, up to 20 years thereafter a withdrawal would be irrelevant as there is no capital to return. In that case the ownership would remain in the Coop and the members collectively would benefit.

If however the project became loss making then everyone would want to leave and there would be no buyers, therefore you would be stuck as the Coop is only obliged to buy back your withdrawn shares if it is solvent.

There are already folk who have had to withdraw, like they have moved to care homes, have left the country or for WT2, some have stopped paying their investment instalments. If you move your leccy supplier to a non partner supplier, a clause invokes your share withdrawal. If you were kicked from Octopus for naughtiness , that probably also invokes the clause.

It was stated in a recent AGM that say if Octopus went bust and there were no other suppliers left, lets say full blown nationalisation of suppliers. Then the savings would be sent to you like any other Coop. The Coop would still own the asset and the energy would be still be sold to someone. Likewise if Ripple went bust, the Coop would still manage the asset and deal with Octopus direct or revert to a standard dividend approach.

[AE-NMidlands]

Could they force you to sell the ripple investment? And if so on what grounds, because it sounds like they could just revoke it with no repayment.

I ask because I'm always paranoid that if you don't have something in your possession you can't be certain that you can use it and "the system" will just make up rules to it's own benefit.

The rules are quite back and white in the Customer agreement and in practise there are no shortage of people on the waiting list to buy shares off folk withdrawing from the Coop. .

Don't know how... I asked them if I could go on a waiting list to increase my share of WT2 and was told there wasn't one as everyone was locked in for 2 years.

(09:53:01) A E: Hello I am in WT1, 2 and have a reservation for 3, but would like to buy more in 2. Is there going to be a waiting list for it, as there was eventually for WT1?
(09:53:20) Pete : Hi A
(09:53:24) Pete : Thanks for getting in touch!
(09:54:21) Pete : There will be eventually, but as members are required to hold their shares for a minimum of 2 years, it's not likely to be available until May 2024 at the earliest - if anything changes though we will absolutely communicate this to existing members first
(09:55:58) A E: OK. I was imagining something like the situation where a member passes away and the beneficiaries of their estate aren't interested in staying in.
(09:57:01) Pete : That's something that potentially could happen - if anything does become available we will make our members aware!

So no offer to build a waiting list - which would also have given them a priority /Pecking order for when the time comes.

[nowty]

Could they force you to sell the ripple investment? And if so on what grounds, because it sounds like they could just revoke it with no repayment.

I ask because I'm always paranoid that if you don't have something in your possession you can't be certain that you can use it and "the system" will just make up rules to it's own benefit.

The rules are quite back and white in the Customer agreement and in practise there are no shortage of people on the waiting list to buy shares off folk withdrawing from the Coop. .

Don't know how... I asked them if I could go on a waiting list to increase my share of WT2 and was told there wasn't one as everyone was locked in for 2 years.

(09:53:01) A E: Hello I am in WT1, 2 and have a reservation for 3, but would like to buy more in 2. Is there going to be a waiting list for it, as there was eventually for WT1?
(09:53:20) Pete : Hi A
(09:53:24) Pete : Thanks for getting in touch!
(09:54:21) Pete : There will be eventually, but as members are required to hold their shares for a minimum of 2 years, it's not likely to be available until May 2024 at the earliest - if anything changes though we will absolutely communicate this to existing members first
(09:55:58) A E: OK. I was imagining something like the situation where a member passes away and the beneficiaries of their estate aren't interested in staying in.
(09:57:01) Pete : That's something that potentially could happen - if anything does become available we will make our members aware!

So no offer to build a waiting list - which would also have given them a priority /Pecking order for when the time comes.

There is a general 2 year holding period from going live but not for some extraordinary situations.

For WT1 the waiting list was opened quite some time ago as some watts became available, an email was sent out to members on 04/07/22, it may well be closed again as we are not in the two year plus period.

Would you like to own more of Graig Fatha?

We are opening a waiting list to purchase additional shares in Graig Fatha. There is currently a small number of shares available. Additional shares may also become available in future.

There are a few things to know:

1. When shares become available, they will be offered to members in the order of the waiting list.
2. The waiting list is ordered according to when forms are submitted, so the sooner you submit the form, the higher up the list you will be.
3. In the form you will be asked how many kWh equivalent you would like to purchase. We will then work out how many shares/watts are needed to meet your kWh requirement.
4. If shares become available to your position on the waiting list, you will be notified by email with the share offer and a link to buy the amount you have applied for.
5. You will have 10 working days to take up the offer. If you choose not to take it up, you will be moved to the bottom of the waiting list and the shares will be offered to the next person on the list.
6. The 120% total ownership limit applies. If the new shares push you over your total ownership limit, you will not be able to purchase them. If you are already at your 120% limit but your consumption has recently increased please contact us with evidence so we can edit your details.
7. Ripple's arrangement fee will be applied to share purchases.
8. Shares in other projects may also be made available to the waiting list in due course.


For WT2 it was announced two days ago at the AGM that some watts have also become available because of some investors stopped paying their instalments and were not in a position to re-commence their instalments. It was further mentioned that the waiting list for WT2 could not be opened until the new directors were in post and because of unavailability of staff, the vote for 2 new directors had to be postponed. An email will be going out to members in the near future, similar to the one for WT1 (copied in itallics above). But you cannot be put on a waiting list until the email to members goes out.

[AE-NMidlands]

That's good to hear, thanks for posting it.
I do remember the WT1 list, but was disappointed by the brush-off when I asked about WT2
A

[Kenny000666]

Hey guys

Looks like Octopus gave me an early birthday present?



So as I mentioned before. I can’t directly switch on the website, or app and when I called up, they said they cannot let me use Go without an EV.

So they finally responded to an email I sent a couple weeks ago about the Go further Tariff and I they finally replied to it with the usual canned response of these are the tariffs and if I want to sign up visit the links (even with the Go further sign up link which is no longer active as it says the trial is now over and no further sign ups.). I though the link to go is right there so try it out, clicked on it, took me to the sign up page, continued and they didn’t even ask for EV details and said I’m on the waiting list. 10 mins later I got an email saying I’m successfully accepted to Go please follow this link to accept the T&Cs. That’s how I got the above screenshot.

[Kenny000666]

Think I can try my luck with the IO link they sent me

[nowty]

10 mins later I got an email saying I’m successfully accepted to Go please follow this link to accept the T&Cs. That’s how I got the above screenshot.

No one reads those T&C's properly though do they.

PS- Don't risk signing up to IO as you need to do an onbaording test charge.

[nowty]

Interestingly someone on a FB group who is with Bulb has very recently moved onto their EV tariff without an EV (legally and morally) 2am to 6am cheapslot at 10p / kWh.

As Bulb are being integrated into Octopus, maybe the EV requirement might be dropped. Note the language is almost the same with a slight twist.

https://help.bulb.co.uk/hc/en-us/articl ... -EV-Tariff

Our EV Tariff is designed for members with electric vehicles (EVs), although it could benefit anyone who can shift a large portion of their electricity usage to our off-peak times.