Octopus Flux

[Fintray]

Thanks to Caesium and Ronski for confirming the app.

[Krill]

New Flux tariff in beta: https://octopus.energy/press/smarter-cl ... d-storage/

Smarter, cleaner, cheaper: Octopus launches new smart tariff to unlock solar and storage

Octopus Energy announces launch of UK’s smartest tariff - ‘Intelligent Octopus Flux’
Tariff available for customers with solar panels and battery storage
Cuts bills by more than £450 while unlocking full potential of clean energy tech

London, 19th July 2023 – Octopus Energy announces the launch of the UK’s smartest tariff to help households optimise their solar panels and batteries while helping balance the grid.

‘Intelligent Octopus Flux’ (IOF) offers the same rate for both importing and exporting electricity, with a 21-hour off peak window priced 10% below Octopus Energy’s standard variable tariff ‘Flexible Octopus’ and a three-hour ‘peak’ window between 4pm and 7pm*.

Customers on IOF will be able to save more than £450 a year compared to customers on ‘Flexible Octopus’ and its fixed export tariff ‘Octopus Outgoing’.

The combo import-export tariff is available to new and existing customers who have solar panels and eligible batteries installed in their homes.

This next generation tariff is powered by Kraken, Octopus’ proprietary tech platform, and optimises a home’s batteries and solar panels to better use green electrons when they are abundant and cheap.

Until now, solar and battery owners had to manually programme their tech to charge and discharge. IOF removes this hassle – allowing customers to automatically receive the best rates for both the power they use (import) and the power they sell back (export) to the grid.

Octopus has been a pioneer of smart tariffs for several years. It offers a range of different smart tariffs to suit customers’ homes and engagement with their energy use, all of which help to unlock the benefits of a renewable grid.

In 2022, the UK spent £215 million on turning wind farms off, and over £715 million on turning on gas power plants**.

Improving grid flexibility through tariffs like IOF reduces the need for National Grid to pay renewable energy generators to switch off and fossil fuel power plants to switch on when the grid is under stress. This will help reduce everyone’s bills as these costs are paid for by all energy consumers.

Alex Schoch, Head of Flexibility at Octopus Energy Group, says: “Octopus Energy continues to unlock a grid system that is green, cheap and easy for customers. Next generation smart tariffs like Intelligent Octopus Flux optimise energy tech in people’s homes – passing on savings to customers while stopping the need for dirty fossil fuel plants at peak times.”

“We’ve seen an 80% increase in demand for our smart tariffs since 2022, and everyone benefits. The learnings we get from managing smart tariffs teaches us how to run initiatives like ‘Saving Sessions’, where millions of energy customers were paid to use less energy at ‘dirty’ times.”

Intelligent Octopus Flux is a beta tariff and has been launched to optimise with GivEnergy batteries, however, more battery brands will be integrated this year. The waiting list is open now.

To learn more about Intelligent Octopus Flux please visit: octopus.energy/intelligent-octopus-flux

-ENDS-

Notes to editors

*Import/Export rate:

Off-peak (7pm - 4pm): Below Flexible Octopus: 27.1 p/kWh at Current Flexible prices
Peak (4pm - 7pm): Above Flexible Octopus: 36.1 p/kWh at Current Flexible prices

[Moxi]

Not sure I would want to hand control of my batteries to a third party to use at their discretion ?

Moxi

[Stinsy]

Not sure I would want to hand control of my batteries to a third party to use at their discretion ?

Moxi

^this.

Tell me your prices and I'll control what my batteries do thank you very much!

[richbee]

I like the sound of having the same price for import / export - takes away the hassle of only using power up to the limit of the inverter (3.8kW), and avoiding using eg. kettle and toaster at the same time - ideal for for my other half, who isn't keen on having her life disrupted by trying not to use grid power and having to spread out washing machine / dishwasher etc use!

[Fintray]

This is effectively what the Tesla tariff was.

Edit: Looking at the FAQ's for IOF it certainly looks like import at lower cost (during the night) and export at higher cost during the high rate period.
Tesla tariff was exactly same rate for both and for the whole day.

[nowty]

There is mass hysteria breaking on the Octopus Facebook groups with many saying they are on Intelligent Octopus tariff (inferring a import cheap rate 7.5p) and having their SEG export upgraded from 4.1p to 15p.

That made me think its got to be a mistake as there is no way they would allow 7.5p import and a 15p fixed export.

Just wondering if it is a mistake or a more sinister morph of IO into this new tariff of IO Flux which would be a bummer.

[Joeboy]

There is mass hysteria breaking on the Octopus Facebook groups with many saying they are on Intelligent Octopus tariff (inferring a import cheap rate 7.5p) and having their SEG export upgraded from 4.1p to 15p.

That made me think its got to be a mistake as there is no way they would allow 7.5p import and a 15p fixed export.

Just wondering if it is a mistake or a more sinister morph of IO into this new tariff of IO Flux which would be a bummer.

Hopefully not sinister as the use timings will be different for the two scenarios? Fingers

[nowty]

There is mass hysteria breaking on the Octopus Facebook groups with many saying they are on Intelligent Octopus tariff (inferring a import cheap rate 7.5p) and having their SEG export upgraded from 4.1p to 15p.

That made me think its got to be a mistake as there is no way they would allow 7.5p import and a 15p fixed export.

Just wondering if it is a mistake or a more sinister morph of IO into this new tariff of IO Flux which would be a bummer.

Hopefully not sinister as the use timings will be different for the two scenarios? Fingers

Yeah, thinking about it a bit more, the IO still gives Octopus extra revenue from controlling the demand side, so it should still remain a better deal than Go.

If it is true about fixed 15p export with IO though, I'll be signing up for the Octopus Outgoing in a flash.

[Joeboy]

There is mass hysteria breaking on the Octopus Facebook groups with many saying they are on Intelligent Octopus tariff (inferring a import cheap rate 7.5p) and having their SEG export upgraded from 4.1p to 15p.

That made me think its got to be a mistake as there is no way they would allow 7.5p import and a 15p fixed export.

Just wondering if it is a mistake or a more sinister morph of IO into this new tariff of IO Flux which would be a bummer.

Hopefully not sinister as the use timings will be different for the two scenarios? Fingers

Yeah, thinking about it a bit more, the IO still gives Octopus extra revenue from controlling the demand side, so it should still remain a better deal than Go.

If it is true about fixed 15p export with IO though, I'll be signing up for the Octopus Outgoing in a flash.

Why not eh? Sounds like a win all round. Thousands of microgeneration sites being harnessed and paid a reasonable figure for being there when needed. Compare it to 27p per kWh off the turbine and it looks sensible. We of IO are still there through the night to help balance. I likes it!