Battery Storage

[dangermouse]

Octopus are offering me, in the South West, the following,
Flexible ECO7 Not fixed.
Daily charge 51.09p
Day 42.9p unit
Night 14.61p unit.

The unit prices are part of the Gov't price guarantee (in theory).

No mention yet of a charge to change my meter.

Octopus just fitted me a smart meter today, and there was no charge (and a free isolator switch too).

I'm waiting to get on the "Go" tariff, which is cheaper overnight than Eco7 (12p/unit in my area) but only gives you 4 hours at the cheap rate. If you can charge everything in 4 hours it seems like the obvious choice.

[Thebeeman]

The high standing charge is a bit of a kicker.

I'm given to understand that the daily charge is 'set' by Ofgem to pay for all the losses incurred by the crash of the never viable suppliers.
The remaining suppliers had to pick up loss making customers, except Bulb which was too big. I think 50p + is about standard now.

[Oldgreybeard]

The high standing charge is a bit of a kicker.

I'm given to understand that the daily charge is 'set' by Ofgem to pay for all the losses incurred by the crash of the never viable suppliers.
The remaining suppliers had to pick up loss making customers, except Bulb which was too big. I think 50p + is about standard now.

Yes, this is the case, I believe, but that standing charge is still over 20% higher than ours (ours recently rose to 41.72p/day), and we're on a standard variable E7 tariff.

I don't think that Ofgem actually set the standing charge, as such, there seems to be a more complex set of rules in play as the standing charge still seems to vary a lot from one supplier to another.

[chris_n]

The biggest variation in standing charge is from region to region.