FIT Rate 2023/24 Uplift

[nowty]

The Dec RPI rate has been published today and is 13.4% which should be used for the uplift from April 2023. Official FIT rate tables from OFGEM are usually published at the end of the month.

https://www.ons.gov.uk/economy/inflatio ... 20November.

For folk on the full fat FIT rate I make that,

Generation rate of 68.30p / kWh.
Export rate of 4.82p / kWh.

For most folk on deemed export, the blended rate should effectively be 70.71p / kWh.

[Thebeeman]

My current combined F.I.T. comes out at 62.35p Kw generated so an uplift to 70.71p will be very welcome. I've just (August) had batteries fitted so with luck will use 100% of solar output so it's a win win for once.

[greentangerine]

That works out as approximately £300 more on my average yearly generation. Very welcome.

[Sunrisemike]

[openspaceman]

So what day will be the last day to send a reading March 31st?

[sharpener]

So what day will be the last day to send a reading March 31st?

I think so.

[nowty]

So what day will be the last day to send a reading March 31st?

I think so.

You can give the 31st March reading up to a handful of days after the actual date, at least you can with British Gas.

[sharpener]

Good Energy, annoyingly, have a regular quarterly reading date of ~22 March to meet OFGEM's schedule (or so they say) and then apportion the figure for 31 March. You have to send them a second reading a week later if you want the correct result. In the past if I have only given them the 31 March reading it has delayed the Dec - Mar FIT payment by 3 months.

[nowty]

With British Gas I can give them a reading whenever I like as long as its at least 83 days since the last reading. I actually only give them 3 readings a year to enable 3 near equal payments per year. And including the 31st March to ensure the correct change over for the new rate or else they simply pro rata it but they pro rata it incorrectly based on simple calendar days rather than the seasonal differences of generation.

31st March
30th June
30th September

[nowty]

OFGEM 23/24 official FIT tables now published, as we expected the 13.4 % RPI uplift value has been used.
https://www.ofgem.gov.uk/publications/f ... april-2023