Octopus Power Hour

[Stinsy]

I’ve heard there was a free hour of electric from 2-3pm today for those enrolled. I’m not enrolled, are any of you lot?

[nowty]

How did I miss that ?

https://octopus.energy/powerhour/

[Tinbum]

Enrolment was some months ago and was booked up as soon as it was announced. All seemed somewhat hushed up. I spotted it the day after announcement and it was full.

[Ken]

What a good piece of marketing ! Free leccy which Octopus are buying at negative price and increasing their profit. (speculation on my part)

[Stinsy]

What a good piece of marketing ! Free leccy which Octopus are buying at negative price and increasing their profit. (speculation on my part)

I’ve never understood why all Octopus customers don’t get free electric when wholesale prices are negative!

[nowty]

What a good piece of marketing ! Free leccy which Octopus are buying at negative price and increasing their profit. (speculation on my part)

I’ve never understood why all Octopus customers don’t get free electric when wholesale prices are negative!

Its probably quite complicated and may mess up their hedging strategies, especially if they gave it to everybody.

Octopus has mentioned in their blog that they hedge a year ahead for all fixed price contracts based upon an average persons usage, but don't hedge their Agile prices as you pay what it costs. They have even said its a nightmare for them if lots of Agile customers suddenly moves to a fixed tariff like Go, which they probably already have.

Unless customers used additional energy in a negative time period (which they have not hedged for), they may end up out of pocket if customers only time shifted their use because Octopus have already paid in advance for the energy at a non negative price.

[Inskip75]

I'm on it and assumed most were on here, (however it has been mentioned not to mention on social media as looks bad with the fuel poverty at the moment) you get 1 hour each month but are only informed the day before - get the option of free electric or can donate your saving and any additional to National Energy Action - we do our saving plus £5 to NEA. But get everything charged and plugged in for the hour

[Tinbum]

See they are increasing their export rate from midnight tonight.