Octopus Go v Intelligent Octopus Go

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Octopus Go v Intelligent Octopus Go

Octopus Go v Octopus Intelligent Octopus Go

July 2024 Price Drop.

Intelligent Octopus Go rates are now even cheaper. From the 1st of July 2024, it’s 7p per kWh v 8.5p per kWh on Octopus Go. The off-peak rate lasts longer at six hours versus five on Go. However, can everyone be a winner on an Octopus EV tariff?

Octopus Energy is in my mind the best electricty supplier when it comes to green tech and electric vehicles. My name is Sarah and I’ve been a very happy Octopus Energy customer for six years. I’ve also been on the ever-popular Intelligent Octopus EV tariff for over two years.

Written by Sarah Chambers.

Advantages of Intelligent Octopus Go

Intelligent Octopus Go since the 1st of July 2024;

  • There’s a minimum of six hours of off-peak electricty for your EV charging and home energy needs for 7p per kWh instead of 7.5p per kWh.
  • The day rate has dropped. The premium which was added to the day rate is now minimal. It’s around 1p per kWh over the flexible rate instead of the previous 4p premium. If you don’t have high mileage you can still benefit compared to the Octopus Flexible rate.
  • Pre-scheduled charging by Octopus at the greenest times for the National Grid. (This has remained unchanged.)
  • You are still able to export your solar (if you have any at 15p per kWh on Outgoing Fixed as well as having access to all the other Octopus export tariffs. Whereas on Octopus Go you’ll still be limited to 8p per kWh export on Outgoing Lite.

Disadvantages  of Intelligent Octopus Go,

  • You need either a compatible EV or EV chargers.

 

@sarah_go_green Both @Octopus Energy EV tariffs became even more attarctive and prices dropped on Octopus Go and Intelligent Octopus Go on 1st July 2024. The day unit rate for electricty on both has dropped and now it makes more sense even in you don’t drive and charge as much. Octopus Go you will now get an extra hour off-peak too!@GivEnergy ♬ original sound – sarah_go_green

What is the difference between Octopus Go and Intelligent Octopus Go since 1st July 2024?

The main difference between the Intelligent Octopus Go and Go tariffs is the Kraken Software that enables smart charging. That’s it in a nutshell. All Octopus Intelligent tariffs let Octopus take control of a device in your home, with Intelligent Octopus Go it’s either your Electric Vehicle charger or your Electric Vehicle Charger.

Octopus wants to make the best use of green technology to enable the grid to become greener and for customers to take advantage of renewable energy when it is abundant. This is how Octopus intends to revolutionise our relationship with electricty.

On the ground floor as consumers, the main differences are;

  • The length of cheaper charging.
  • The off-peak rates per kWh.

Octopus Intelligent Go offers a minimum of six hours of off-peak electricity for charging your EV at home. In comparison, Octopus Go only provides five hours of off-peak electricity at night. Both still allow the off-peak rate to be used for your home energy needs and EV charging.  (The extra one hour was added to Octopus Go on 1st July 2024)

Octopus Go is 8.5p per kWh and Intelligent Octopus Go is 7p per kWh off-peak.

Why has Octopus Go been given five hours instead of six hours off-peak since 1st July 2024?

Competiton! That’s why Octopus Energy, in my view, added the extra hour of off-peak electricty to the overnight rate on Octopus Go on the 1st of July 2024 as well as dropping the off-peak rate.

For Octopus it’s all about the environment and customer service. They have tweaked the Intelligent Octopus Go tariff so much over the last two years that even the most reluctant customers have given up their timers in exchange for smart charging. Why wouldn’t you when you can save so much more on a cheaper EV tariff?

However, other energy suppliers are offering basic set-and-forget EV tariffs that don’t need smart charging and importantly the off-peak slots have been slightly longer than Octopus Go. This is why in my opinion, Octopus increased the off-peak window for Octopus Go.

In an ideal world, Octopus would love everyone to be on an Intelligent tariff where simplicity of use could help consumers save money whilst also balancing the grid but we aren’t there yet.  Bringing Electric Vehicle and EV chargers into the fold so they are compatible with evolving software takes collaboration of will and time. Until then Octopus Go is a good offering for those with a non-compatible EV or EV charger.

Octopus Go and Intelligent Octopus Go unit rate from 1st July 2024.

Electricity on Intelligent Octopus Go is now 69% cheaper than the Octopus Flexible unit rate and Octopus Go is 62% cheaper than the Octopus Flexible unit rate. Whilst the day rate is around 1p higher per kWh for both. The standing charge is the same.

  • Intelligent Octopus Go and Octopus Go day unit rate: 23.59p per kWh
  • Intelligent Octopus Go and Octopus Go daily standing charge: 61.19p
  • Intelligent Octopus Go off-peak unit rate 7p per kWh
  • Octopus Go off-peak unit rate 8.5p per kWh

This is based on rates in South Wales. The unit rate will differ depending on your geographical location.

Octopus Go and Intelligent Octopus Go vs Octopus Agile.

The Octopus Agile is the only Octopus smart tariff that hasn’t had a price change since the 1st of July 2024.  Unlike the Octopus Tracker tariff which had its formula changed on the 1st of July 2024, meaning a price increase.

Octopus Agile isn’t designed for EVs but here is an example of today’s Octopus Agile rates compared to Octopus Go just to add an alternative smart tariff to the mix.

OCTOPUS GO Tariff - 1st July 2024OCTOPUS AGILE Tariff. - April 2024 V1.⏰ 11/07/2024
23.58p per kWh Daily Average Price 18.1p per kWh
8.5p per kWh - Off-peak 00.30 to 05.30 🚘Min:13.6p per kWh (13.30)
62.19p per day standing charge.62.19p per day standing charge.

Some Octopus customers have decided to ditch EV tariffs and opt instead for Octopus Agile.  This is usually because they have low mileage and have the flexibility to charge at home anytime taking advantage of electricty when it plummets in price.

Octopus Agile offers a fanatically smart way to use electricty at home when it’s the cleanest and greenest. If you work from home or are retired, as an example you can save oodles on your energy bill. Prices change every 30 minutes and if you are home with your EV plugged in you could gran cheap electrons when available.

Tom and Adam who follow me over on X (formally Twitter) have low mileage and only need to charge once a week. This gives them the flexibility to sometimes even wait and get paid to charge their EV, as when there are lots of renewables on the grid occasionally prices go negative. Imagine getting paid to fuel a petrol or diesel car because it’s windy. There would be a traffic jam with people trying to get to the petrol station!

 

Sarah Chambers

About the author:  I’ve Been a Happy Octopus Energy Customer for 6 Years.

I’m Sarah, and as a mum of 3 daughters, I want to save money and do right by the planet. This led me down a rabbit hole of researching tariffs, smart meters, and renewable options.

You can find me on X and TikTok where I connect with around 7,000 followers looking for practical ways to electrify their homes and reduce energy bills.

Feel free to follow me Sarah_Go_Green and join the conversation – I’d love to hear from you!

I’m also featured on the Octopus website and their YouTube channel as a solar customer. I’ve been on BBC News, and Radio Wales, published in the Telegraph for owning part of a wind turbine and had a feature in Bloomberg.

I genuinely want to help you understand your options and make smarter energy choices. It’s that simple, I have become very geeky about my home energy and I can help you too.

Another post by Sarah you may find of interest;

Follow me on twitter

Octopus Tracker tariff is it still worth it?

Home » Archives for July 10, 2024

Octopus tracker price increase

Octopus Tracker Tariff is it still worth it?

On the 1st of July 2024, Octopus Energy changed its formula for the Octopus Tracker tariff. While all of the Octopus tariffs saw their rates go down the Octopus July v1 of the Tracker tariff went up. If you are wondering if the Octopus Tracker tariff is still worthwhile I will attempt to give you my opinion on it as an existing Octopus Tracker tariff customer.

The Octopus Tracker tariff is the only energy tariff in the UK to truly follow wholesale energy prices. Every day Octopus updates the price you pay for your electricty and gas using a preset formula. The formula and the standing charge remain fixed for 12 months but the rates change daily depending on wholesale energy prices.

Why has the Octopus Tracker Tariff increased in price since the 1st of July 2024?

On the 1st of July 2024, Octopus launched the July v1 of the Octopus Tracker tariff. If you switch to Octopus Tracker after the 1st of July or if your fixed period ends, you will go on to the latest version of the Octopus Tracker Tariff, July v1.

Sadly the formula used on July v 1 of the Octopus Tracker tariff results in the price you pay for your electricty and gas being slightly more expensive than the previous version.

As an example on the 10th of July 2024, the Octopus Tracker tariff unit rates for electricty and gas in South Wales are;

  • July v 1 – 20.72p per kWh for electricty and 4.95p per kWh for gas.
  • April v 1 – 18.95p per kWh for electricty and 4.55p per kWh for gas.
  • December v 1 – 18.42p per kWh for electricty and 4.46p per kWh for gas.

Just as a comparison the Octopus Flexible tariff unit rates for electricty and gas in South Wales;

  • Electricity –  22.99p per kWh with a standing charge of 61.19p per day
  • Gas – 5.86p per kWh with a standing charge of 29.68p per day.

I suspect Octopus has increased the prices as it’s always been a marginal tariff in terms of profit. It gives customers the benefits of short-term dips when there are lots of renewables on the grid but unlike Octopus Agile it’s much simpler to manage as there’s just one flat rate for the day.

Now that more customers are switching to smart tariffs and are becoming more prepared to change when they use energy to get cheaper rates I suspect Octopus want to make greener tariffs such as Octopus Agile more attractive. Octopus has done the same with other time-of-use tariffs, such as Intelligent Octopus Go and the reduced rates have encouraged customers to switch to tariffs that help balance the National Grid and save them money on their energy bill.

Is the Octopus Tracker Tariff July v1 still worth switching to?

When Octopus updated the formula of the Octopus Tracker tariff this week I first thought that the increase in the formula combined with the recent wholesale energy price rises would make the Octopus Tracker tariff more one to watch than to switch to.  The rates are so close to the Octopus Flexible rates that the risk of price increases I thought would deter customers from switching especially when the Octopus Fixed tariff has quite competitive rates right now. However, since the 1st of July, we have had quite a lot of renewables on the grid and the prices have done well to beat the flexible rates even on the July v1.

My only concern in recommending anyone to the Octopus Tracker tariff now is that wholesale prices are rising and if you decide to hop off this tariff you can’t come back to it for 9 months. This doesn’t apply to the Octopus Agile tariff.

So, yes the Octopus Tracker tariff is still cheaper than the July Energy Price Cap. Over the summer there is more chance of saving money with short-term dips.  You could make more of a credit on your energy bill by being on the Octopus Tracker tariff as long as you don’t change your direct debit. You could then decide if to stay on the tariff as we get closer to winter.

It is easy to switch away from the Octopus Tracker tariff. You simply email hello@octopus.energy but remember you can’t go back to the tariff for 9 months.

Sarah Chambers

About the author:  I’ve Been a Happy Octopus Energy Customer for 6 Years.

I’m Sarah, and as a mum of 3 daughters, I want to save money and do right by the planet. This led me down a rabbit hole of researching tariffs, smart meters, and renewable options.

You can find me on X and TikTok where I connect with around 7,000 followers looking for practical ways to electrify their homes and reduce energy bills.

Feel free to follow me Sarah_Go_Green and join the conversation – I’d love to hear from you!

I’m also featured on the Octopus website and their YouTube channel as a solar customer. I’ve been on the BBC News, Radio Wales, published in the Telegraph for owning part of a wind turbine and had a feature in Bloomberg.

I genuinely want to help you understand your options and make smarter energy choices. It’s that simple, I have become very geeky about my home energy and I can help you too.

Another post by Sarah you may find of interest;

Follow me on twitter