Today, 27th March 2023 Tesla has relaunched its very popular Tesla UK Referral Scheme. If you are lucky enough to be an existing Tesla owner in the UK you can share your Tesla referral link and earn Tesla loot points. The person you are referring with earn loot credits too!
The Tesla referral scheme offers a variety of rewards such as free Tesla Supercharging miles. You can also cash in your credits for Tesla accessories and lifestyle products such as Tesla hoodies. I have my eye on some roof bars but I know I would need to refer quite a few people to get to that stage I am dreaming big! 😀
How to use my Tesla Referral Link?
When you buy a new Tesla Model 3 or Model Y using my referral link, we will both earn credits. 💚
If you buy a new Tesla you will receive 100 Tesla Loot Box credits which seem to be worth around £10. Once you have your own account you can start referring people too so you can build up your credit.
If you manage to buy and take delivery of a new Tesla by the end of March 2023 you will receive 5,000 Tesla Loot Box credits and I will get a whopping 10,000 credits!!!
Check out Tesla Inventory. – These are vehicles ready to be collected now. Just enter your postcode.
How do I get a Tesla Referral Link?
If you own a Tesla in the UK to find your Tesla referral link just go into your Tesla app.
Click on the icon that looks like a treasure chest next to your profile picture in the top right-hand corner. The loot box will then appear on the screen.
Tap the blue button at the bottom of the screen to share your Tesla Referral link. You can share your Tesla Referral link directly in a text message or email from this screen.
The Loot Box section of the Tesla app will also show you the number of will credits you have and allow you to exchange your look credits for Tesla goodies.
How do I redeem Tesla Referral Credits?
When you have bought your Tesla you will be able to access your Tesla app.
In the top right-hand corner click on the Tesla loot box icon which is shaped like a treasure chest.
From here you can view your Tesla referral credits and exchange them for a variety of items such as supercharging miles or accessories.
The Tesla Look Box credits will show as pending until the new Tesla is delivered.
What can I exchange my Tesla Loot Box credits for?
Tesla Supercharging miles are the obvious way to spend your Tesla referral credits in your Loot Box. You can also exchange your Loot Box credit for a variety of lifestyle products and Tesla accessories.
Can I use a Tesla referral code at a Tesla showroom?
Yes, you can use a Tesla Referral code at a Tesla showroom. If you buy a new Tesla in store just give the Sales advisor my referral code, Sarah583995.
This is what Tesla UK have to say about their new Look Box.
Our goal is to help Tesla owners share their passion for Tesla’s products and our mission — to accelerate the world’s transition to sustainable energy. As an owner, every time you bring a new friend or family member into the Tesla community, you and your friend both earn credits — you earn Referral Credits and your friend earns Buyer Credits. You also earn Loyalty Credits when you purchase additional qualifying Tesla products, as a thank-you for being a loyal Tesla owner.
All of your credits have equal value and accrue under one balance in your Loot Box. Credits can be redeemed for Tesla Referral awards in the Referral Shop of the Loot Box, after the Grant Date — the date when the Tesla vehicle is delivered.
Is the Tesla Referral Scheme still active in the UK?
Yes, the Tesla Referral Scheme was relaunched on the 27th of March 2023. It had previously closed on the 18th of September 2021. At this point, customers were rewarded with 1,000 Tesla Supercharging miles on every new Tesla purchased via a referral link. This has now been replaced with Tesla loot credits.
How easy is it to buy a Tesla online?
I bought my Tesla Model Y online and both the ordering and collection were amazing. It was so straightforward and required almost no human contact. I can highly recommend a Tesla it just keeps getting better with over-the-air updates.
Finding your Tesla VIN number early.
At the moment this isn’t so much of an issue as there is stock available but if you order a new Tesla and want to find out when it is on its way from the factory you can check for a VIN number. Once this is allocated to your Tesla account it means it’s on the ship heading to the UK.
I highly recommend this Tesla VIN Code Extention which can be used on a Chrome browser. It searches your Tesla account and finds the VIN in the source code even before its openly displayed.
The first 3 things to do as soon as you have collected your new Tesla.
I have been playing TikTok mainly to annoy my daughters. What could mummy possibly have to say? Well, here are my tips on what to do as soon as you get your new Tesla. (I am sure that will make them cringe 🤣)
I have owned my Tesla Model Y for just over a year. The charging is a doodle thanks to the Tesla Supercharging network and it really is a joy to drive. Any questions just send me a message and I will be happy to help. 💚
This has been my first EV and I have been delighted with the transition from a diesel car. I used this App to run through everything I needed to check when I collected my vehicle. If you would like any hints or tips just take a look at my TikTok Channel.
You can read more about the Tesla Referral Scheme and how it works in the UK and Europe on the Tesla website.
WILL MY THE UNIT PRICE AND STANDING CHARGE GO UP OR DOWN FOR ENERGY IN APRIL 2023?
Today in the budget, it was announced that the Energy Price Guarantee will continue until July 2023. This is excellent news as the 20% energy price increase that would have gone ahead in April 2023 is now cancelled.
There will be a slight increase in energy bills in April. The standing charge will increase for both electricity and gas. This is where you will find the biggest increase. The unit rate will go down for electricity to 0.69p per kWh. Gas will increase but by a very minimal amount. Households with lower energy use will notice the change it’s the standing charge that’s had the biggest rise.
Energy Price Guarantee Unit Price and standing charge from April 2023 to July 2023
Electricity – Will go down from 33.97p per kWh to 33.28p per kWh. Whilst the standing charge will increase from 47.52p per day to 518p per day.
Gas – Will up from 10.39p per kWh to 10.47p per kWh. Whilst the standing charge will increase from 26.84p per day to 27.47p per day.
These figures show a comparison of the Octopus Flexible tariff before and after the 1st of April 2023 in South Wales. You can view the new rates here.
Martin Lewis on the April Energy Price Guarantee extension.
Martin Lewis from Money Saving Expert campaigned relentlessly for scrapping this increase. Thankfully, the budget extended the EPG today.
Wholesale energy prices are falling. The Energy Price Cap, however, is based on historical wholesale energy prices and is still higher than the Energy Price Guarantee. If the discount had ended in April there would have been a 20% price increase on most household energy bills.
Martin Lewis gives an excellent overview of where we are in terms of the standard variable rates for energy.
CONFIRMED: April 20% Energy Price Guarantee bill rise postponed.
Briefing on what this means in practice, the new unit charge & standing rate, what this means for fixes…. pic.twitter.com/wsIBKsINtE
April 2023 Energy Price Guarantee after July 2023.
By July 2023, wholesale energy prices will have fallen to a level lower than the Energy Price Guarantee. As a result, the Energy Price Cap will be amended and government assistance will no longer be needed.
I am hopeful that we will begin to see Octopus Fixed deals arrive in the coming weeks. I don’t anticipate them to be drastically lower than the rates we will pay in July when the Energy Price Cap is reviewed, but it is still worth keeping an eye out for. A fixed deal has always been my preference.
Two years ago just before the energy crisis, I was shouting “FIX” through my blogs, and I will continue to do the same. The biggest advantage of Octopus is that there are no exit fees, and this makes it a no-brainer to go for it! The world at the moment is very unpredictable and changing events could impact wholesale energy prices again. Hopefully, we will be able to witness the return of Octopus Fixed deals in the near future and take advantage of the security that a fixed deal offers in these uncertain times.
On Monday 27th February OVO Energy launched a new Electric Vehicle (EV) tariff called OVO Charge Anytime. I was blissfully unaware until someone on Twitter asked me what I thought of the Ovo Charge Anytime tariff. It looked like a really interesting EV tariff and at a quick glance very similar to the Intelligent Octopus tariff I am currently on. So I decided to make a comparison of the two tariffs. Here we go with a comparison of Ovo Charge Anytime versus Intelligent Octopus.
What are the similarities between Intelligent Octopus and Ovo Charge Anytime?
The key feature that makes both Electric Vehicle (EV) tariffs stand out in the market is their ability to manage EV charging intelligently.
Managed or Intelligent EV charging, as it’s called, involves the energy supplier taking control of your EV or your EV charger. As a customer, once you have completed a test charge, you can plug in your EV and use the energy suppliers app to indicate when you would like your EV to be charged and to what percentage. Your chosen supplier, such as Ovo Energy or Octopus Energy, will then carry out the charging process, turning your EV charge off and on remotely.
Summariming similarities.
Both Ovo and Octopus Energy take control of your EV or your EV charger to remotely charge your EV.
Intelligent Octopus and Ovo Charge Anything offer 10p per kWh for EV charging. (This works out at around 3p per mile)
Both Ovo and Octopus Energy have their own software that makes this technology possible. At the moment the Octopus software seems to have the edge as it is compatible with both battery storage and solar. If you have either solar PV or battery storage at the moment Ovo can’t offer you this managed tariff. Its software isn’t able to distinguish between energy used from solar PV and energy drawn from the national grid BUT they are working on it!
How do I know this? Well, I was fortunate enough to spend 30 minutes on the telephone with Alex Thwaites – Head of Zero Carbon Living at Ovo Energy this week. He had read one of my Tweets and wanted to explain the intention behind their new EV tariff. I really appreciated the telephone call.
I will discuss what makes the two EV tariffs different in terms of costs a little further down as the price is similar, they both charge 10p per kWh hours, BUT how it’s applied is different. The price difference is one of the key features that separates these two tariffs and needs some consideration.
Why do we need managed or intelligent EV charging, isn’t off-peak good enough?
Off-peak EV charging is similar to the old-fashioned Economy 7 which my mum used to use in the ’70s. It is still going strong today and offers consumers a reduced night rate when there is less demand on the national grid. An off-peak EV tariff works in the same way as Eco 7.
Fast forwarding to 2023, our energy consumption has increased dramatically compared to the 1970s. In order to make the grid greener with the addition of resources such as electric vehicles (EVs), we need to consider how we can use software-driven tariffs to manage our consumption.
Managed or intelligent tariffs take the responsibility out of the hands of the consumer and allow the supplier to decide when it’s greenest to charge your EV. I would suspect in years to come we will see other items in our home working in the same way.
The Committee on Climate Change (CCC) forecasts that total yearly energy demand will roughly double as we replace gas central heating with heat pumps and buy new electric vehicles rather than petrol or diesel cars.
The new tariff EV tariff that OVO Energy has launched to compete with Octopus Energy’s Intelligent tariff is a positive step forward in helping to future-proof the national grid. We need more competition in the energy market to help push forward the change and innovation we need.
Quick overview following my telephone conversation with the Head of Zero Carbon Homes at Ovo Energy. (Well it’s ten minutes but you can fast forward 🤣)
Can I charge more than one EV on either Intelligent Octopus or Ovo Charge Anytime tariffs?
Yes, you can.
If you have more than one EV then it’s important to remember that on OVO Charge Anytime you’ll need to try to link both EVs by using multiple emails. This forum post might help if you’re struggling with how to achieve this.
If you have more than one EV you can link one of the EVs to the intelligent charging and charge the other EV during the off-peak window from 11.30 pm to 5.30 am. You’ll just need to set a timer on the second EV to set up the charge.
Let’s talk price. What’s the difference between Octopus Intelligent Tariff and Ovo Charge Anytime?
Ovo Charge Anytime.
Both Ovo Charge Anytime and Intelligent Octopus tariffs offer EV charging for 10p per kWh. You will notice I don’t say they both charge 10p per kWh for EV charging. This is where the two tariffs start to differ.
On Ovo Charge Anytime you add the EV charging as a bolt-on to your current Ovo tariff. I suppose it is similar to adding all-you-can-eat data to your mobile telephone in that respect. Your tariff remains the same but you can charge your EV, as the name suggests, for 10p per kWh. However, the 10p per kWh isn’t applied at the time of use. You are charged full price for charging your EV and then the credit is applied the following month to your energy bill.
On OVO Charge Anytime you will be charged, as an example, if you are on the standard variable rate of 34p per kWh when you charge your EV but the following month you will be credited the 24p per kWh for EV charging. Alex from OVO explained that their software will allow them to detect when and how much energy you use to charge your EV.
The 10p per kWh with OVO Anytime only applies to EV charging and cannot be used to charge a home battery or for load-shifting energy in the home. As the name suggests, however, you can ask for a schedule anytime time both day and night. So if you work shifts you can still get discounted EV charging.
Intelligent Octopus
On the Intelligent Octopus tariff, you simply get charged 10p per kWh and the whole house gets the rate every night regardless if you charge your EV. Plus offers 10p per kWh to multiple EVs registered to your home address, you just charge these in the off-peal window.
You can also use Intelligent Octopus to fill your home battery and it works with solar PV. Your schedule will appear at around 5 pm or when you plug in after 5 pm and you can’t ask for the EV to be ready before 4 am.
The intelligent Octopus off-peak times are 11.30 pm to 5.30 am every night. The schedule may include these hours or it may charge outside this window. When the EV charges outside this window you also get the off-peak rate in the whole house!! So the minimum off-peak rate for the whole house is 6 hours every night but it could be more. I often get a schedule that starts from 8 pm onwards depending on how much charge I need and the conditions on the grid.
OVO Charge Anytime doesn’t add a premium to your daytime rate. The tariff is a bolt-on and doesn’t affect what you pay during the day. Whereas Intelligent Octopus currently adds a premium to your daytime rate which is approximately 6p – 8p per kWh more during the day. (Prices vary depending on your geographical location.)
Don’t forget to look into Octopus Electroverse too. You need to sign up separately for this but it is free of charge to Octopus customers. You’ll get discounts on a variety of public charging networks and just by tapping your Electroverse card the charging fee will be added to your monthly Octopus Energy bill.
Who would benefit from Ovo Charge Anytime over Intelligent Octopus?
Ovo is very proud that they can offer anyone the opportunity to charge their EV at 10p per kWh. Alex, Head of Zero Carbon Living was very passionate when I spoke to him about not excluding anyone from this new tariff. If you work nights and can’t take advantage of off-peak EV charging you will love this tariff IF you don’t have solar PV or battery storage. (If you have an Indra Pro Smart Charger and solar then the Anytime tariff will work for you, that’s the only exception at the moment).
Also if you can’t or don’t want to load shift your home energy to the off-peak night rates, which you could do on the intelligent tariff at 10p per kWh, then you will be happy that you won’t pay any more for your energy during the day on Ovo Anytime.
Ovo would argue that their bolt-on approach to this tariff, with no premium for daytime energy usage, is the way forward. They are passionate that there should be no restrictions to offering cheap EV charging.
I understand their sentiment BUT personally, I worry that putting the consumer first may not be the best solution for the grid. Yes, it’s a plug-and-play all-you-can-eat EV charging tariff that is very simplistic. It does offer scheduling to help charge when it is greenest but if the end-user asks for a charge between 4 pm and 8 pm then they will provide a schedule. Ideal for a taxi driver who wants to go electric but I worry about the end user who doesn’t want to consider the needs of the grid over their own.
Who would benefit from Intelligent Octopus over Ovo Charge Anytime?
Simply those who can charge their EV off-peak and load shift their energy use to the off-peak window or households which have both an EV and Solar PV or battery storage. (If you have solar PV and battery storage also look at Octopus Flux which is a great idea for the summer months.)
You will pay more during the day for your energy with the Intelligent Octopus Tariff but by load shifting, you can really bring down the price you per on average per kWh. I have 3 kids who are home all day as we home-educate and I manage to get my energy use way below the standard variable rate BUT you do need to be comfortable using appliances at night.
I much prefer the ethos behind the intelligent Octopus tariff. Apart from Economy 7 or Economy 10 tariffs up until the launch of EV tariffs customers didn’t really think of load-shifting their energy. Yes, both these tariffs offer managed to charge BUT the end user can in effect override this by putting in a narrow window asking for a charge during peak times or anytime on the OVO anytime tariff.
How much energy do you need to load shift to bring your average daytime rate below the Energy Price Guarantee On the Octopus Intelligent Tariff?
If you can load shift 30% of your energy to the off-peak window (excluding EV charging) on the Octopus Intelligent tariff your average price per kWh would be below 34p per kWh. Even paying 42p per kWh daytime rate for 70% of your energy if you can load shift just 30% you will be paying less. If you include your load shift more the average price you pay for energy in your home will just keep dropping. That’s a tipping point worth trying to achieve as it becomes a win, win for you and the planet!
Just remember this is before you even add in the EV charging at night which will dramatically reduce your average price per kWh even further. I’ve based the load shifting just on household items and not EV charging so that you can see how you can bring the daytime rate on the Octopus Intelligent tariff below the standard variable rate on the Ovo Charge Anytime tariff.
By load shifting just 30% of your household energy to the off-peak window, customers can take advantage of Octopus’ lower off-peak rate and make it the more affordable of the two tariffs. This looks to be the most environmentally friendly choice for the planet too.
I calculated this by taking the typical yearly electricity consumption, 2,900 kWh and dividing it by 12.
The monthly typical electricity use is 242 kWh. You may use more or less.
On your Octopus Energy bill, you’ll get the breakdown each month of your peak electricity use, your off-peak electricity use and your average price per kWh. So it’s really easy to understand if you are load-shifting enough to beat the Energy Price Guarantee of 34p per kWh.
Here is my electricity bill for March 2023 on the Octopus Intelligent tariff. My average was 20.31p per kWh. I pay a lower off-peak rate of 7.5p per kWh instead of 10p as I am on an older version of the intelligent tariff.
I don’t have solar PV or battery storage yet but it is important to remember OVO does not integrate with solar PV or battery storage, you can use the Intelligent Octopus tariff to fill your home battery at the 10p off-peak rate, dramatically reducing your monthly electricity bill even further!
Here are examples of appliances you could load shift to a cheaper overnight rate.
The table below is based on Which? energy consumption estimates. Lots of appliances have timers or you can add a smart plug to easily time them to come on during an off-peak window. You just need to make sure your appliance is in good working order and you service it regularly. It’s about personal choice and how comfortable you are using appliances at night.
Appliances.
kWh per year.
This is based on typical use.
You may use more or less.
Considering your own electricity needs and the percentage you can load-shift to off-peak.
You just have to remember these are average energy use figures. If you have a newer appliance it may use less or if you have an older appliance it may use more. If you want to get really geeky a power monitor plug will be able to tell you exactly how much energy each appliance uses per cycle.
You also have to consider your own electricity needs. You may use the washing or dishwasher more or less than the average home. As an example, an average dishwasher (condenser) uses 1.8 kWh per cycle if you look at the chart above this would mean the average home uses the dishwasher on average 4 times a week but you might put yours on every night. This would mean your % saving using off-peak would increase. It really does depend on how often you use your appliances.
I have 3 kids and my washing machine and dishwasher are on every night so my percentage of off-peak use is much higher, meaning a higher saving on my energy bill whilst on the Octopus Intelligent tariff.
Low carbon technology
It’s a debate that making EV charging cheaper for everyone is a good idea but it is open to laziness and abuse. Just asking for a charge that suits your preference. On the flip side, it encourages more people to consider an EV, if they had thought they would be excluded from cheap EV charging as they work shifts or don’t have high energy use at home to mitigate the higher daytime costs that many EV tariffs apply.
You may find this Octopus blog post interesting on demand v intelligent energy use. The full title is demand side response (DSR) to intelligent demand. It sounded less scary my way 🙂
Quote from Octopus terms of use;
The Intelligent Octopus tariff is for customers with low-carbon technology at home, including electric vehicle home charging, heat pumps or home batteries. Any electricity used by low-carbon technology as well as any other electricity used in your home during off-peak hours will be charged at the night rate.
Can I skip the scheduling and just charge my EV on Ovo Charge Anytime and Intelligent Octopus?
Both tariffs offer a boost function where you can charge instantly.
Yes, if you just want to skip waiting for a schedule or you don’t want to use the intelligent scheduling you can do your own thing between 11.30 pm and 5.30 am on the Octopus intelligent tariff. Toggle smart charging off and use the timer on your EV charger or EV. You just need to ask for at least one intelligent charge a month to comply with the tariff terms.
If you charge outside the off-peak window on Intelligent Octopus you’ll pay the peak daytime rate. You just click “bump charge” in the Octopus app or toggle off smart charging.
If you don’t want to schedule on the Ovo Anytime tariff you can also simply charge at your standard rate, however, I have talked with Ovo and there’s little point doing this as you can ask for a charge schedule any time of day or night and the end user sets the parameters. If you opt for a schedule NOW with an end time and percentage charge that would require an immediate charge you would get it at 10p per kWh.
The software that makes Intelligent Octopus and Ovo Charge Anytime possible.
Both Ovo and Octopus pushing boundaries with these tariffs. It’s all thanks to Kraken software with Octopus and Kaluza with Ovo Energy.
When comparing these managed tariffs, I would say one seems more advanced than the other. The Kraken software looks like it covers more bases BUT Alex from Ovo pointed out that they brought the Charge Anytime tariff to market early because they wanted to announce it the same day as the Energy Price Rise increase which at the moment is set to come in on 1st April 2023.
I asked Alex, (Head of Zero Carbon Living at Ovo) if Ovo Energy had any intention of making the API open source, and he told me that it’s still in the discussion phase at Ovo Energy. The compatibility will solar is also a work in progress and he hopes to have some updates within the next month. (I will update the blog post if any new features develop).
Thinking of the environment these particular parts of the terms stand out when comparing Ovo Charge Anytime to Octopus Intelligent.
Ovo Energy terms state;
Our smart tech aims to charge your car when the grid has more renewable energy in it, within the time you’ve set. Meaning it’s less likely your EV will be charged by energy from fossil fuels.
Octopus Energy terms state;
You can specify the ready-by time between 4:00 and 11:00 am. We work out how long it will take to reach that level and then schedule the exact hours when the vehicle will charge across all of the hours you’re plugged in. This enables us to help you make the most of low prices on the grid or times of high renewables output, or help stabilise local or national energy grids when they’re under pressure.
To be fair to both companies they both offer something different to EV drivers. We all have different lives and needs which makes a new EV tariff a very positive step forward for consumers. In some instances, you may also have the luxury of having different priorities as you have access to lots of low-carbon tech or you may be away from home at night and have struggled to find cheap EV charging. Between these two tariffs, they cover most EV drivers’ home charging needs.
A quick personal tip about load shifting
Before I switched to my first-time-of-use tariff I attempted to shift my energy consumption around for a couple of weeks first. It was surprising how quickly both myself and the kids got into the habit of programming the washing machine and dishwasher to come on at night. Now I am slightly obsessed and try to use my immersion rather than gas to heat my hot water too.
I save a lot of money by doing this and it is better for the planet! You’ll have electricity you can’t shift like cooking lunch and tea, plus your fridge and fridge freezer but just making an effort can make a massive difference!
If you opt for the intelligent Octopus tariff on your monthly bill it will show you very clearly your daytime and off-peak use PLUS the average price you pay per kWh. It’s the price I glance at each month and cheer!
Since I’ve been on the intelligent tariff it’s ALWAY been well below 30p per kWh. It’s usually more towards 20p per kWh depending on if we have had friends or family staying. Even with 4 kids and 3 adults all coming home with wet towels from swimming in the summer and cooking large meals at peak times we surprisingly never went anywhere near the 30p per kWh average!!
One of my many TikTok videos on load shifting on the Octopus Intelligent Tariff.
This TikTok shows how you can get carried away when you get extra slots on the intelligent tariff. 🤣 Six hours is the minimum off-peak window. You can get more depending on when Octopus schedule your EV to charge. If the EV is charging the whole house get’s it too. So if Octopus think it’s greener outside the off-peak window or your EV needs more than 6 hours of charging you will get the extra time slots.
This TikTok was recorded in the summer of 2022 when I paid 7.5p per kWh off-peak. It’s now 10p per kWh. You find more of my videos where I load shifts and review my Octopus energy bill over on TikTok. (I started it to annoy my youngest daughter and got dragged in, I don’t dance.)
I won’t labour the point about the differences in customer service. Octopus has won the Which? Energy Supplier of the year for the last 6 years. Ovo Energy came 7th this year. It just depends on how important customer service is to you.
How balanced is my review of Intelligent v Ovo Charge Anytime?
As my website name suggests if you choose to switch to Octopus Intelligent tariff we both share £100 and from my bio, you can tell I am an Octopus Fan girl so how balanced can my review be? Well, I simply love the idea of protecting the planet for my kids more than anything else. I really try to make blog posts to help people save money and make sense of tariffs. There is no point in me recommending one tariff or firm over the other if the costs may turn someone off going green and driving electric. We all benefit from less CO2 and pollution. That’s why I was really excited to talk to Alex from Ovo Energy
Thanks to Alex at Ovo Energy.
Many thanks to Alex at Ovo Energy for spending time explaining the tariff. I think it’s a tariff that stands out from many other competitors. It uses software to try and help the grid and it is evolving with our growing needs. We need more competition in this field and Ovo have stepped up. Many thanks, Alex it was a pleasure talking to you.
APRIL 2023 ENERGY PRICE INCREASE HAS BEEN ANNOUNCED.
In April 2023 energy prices will increase by 20% for the vast majority of households in the UK. There are roughly 27 million households in the UK. According to Ofgem, around 4 million households are on fixed energy deals and 24 million are not. If you are not on a fixed deal you may want to brace yourself for further price increases on your monthly energy bill.
Wholesale energy prices have been falling but not fast enough. There is still a long way to go and support is still needed for households. The level of support however is being reduced by the UK government but is the right thing for them to do?
Why are energy bills going up if wholesale energy prices are dropping?
The Energy Price Cap is based on historical energy prices. It is based on wholesale energy prices for the last 3 months. Energy prices have indeed fallen but there is still a long way for them to come down.
The Energy Price Guarantee is currently below the Energy Price Cap. The Energy Price Guarantee is the price set by the government which states the most an energy supplier can charge you for gas and electricity per kWh. The government then pays the difference between the Price Cap and the Price Guarantee to the energy supplier. So you get cheaper bills and the government picks up the tab.
Energy Price Cap – Set by Ofgem and is based on historical energy prices.
Energy Price Guarantee – The limit set by the government which dictated the most a customer will pay for their energy. It is currently a discount on your energy bill as the Energy Price Cap is higher. The government pays for this discount.
These figures show you how much the government paid per household based on typical use up until April 2023.
Energy Price Cap – On “typical use” is £4279 up to the end of March 2023
Enerf Price Guarantee – On “typical use” is £2500 up until the end of March 2022
The government based on typical use pays energy suppliers £1,779 per household to the energy supplier.
From April 2023 the government is reducing the amount of discount they are giving customers under the Energy Price Guarantee. Energy wholesale prices have dropped but they are still higher than the Energy Price Guarantee.
Energy Price Cap – On “typical use” is £3,280 from 1st April 2023.
Energy Price Guarantee – On “typical use” £3,000 from 1st April 2023.
The government based on typical use pays the energy suppliers £280 per household to the energy supplier
So the government will still need to pay energy suppliers on our behalf but not as much as wholesale prices have dropped and they have reduced the amount of discount they will give households. Households will pay more, the government will provide less support. That’s why energy prices are going up for customers.
How much will the government save?
As I understand it there has been a 90% underspend on the government budget as wholes prices have dropped. This is why people like Marin Lewis are screaming for the Energy Price Guarantee to stay at its current price. Customers are at breaking point and the budget is there to offer support until July when hopefully the Energy Price Guarantee is no longer needed.
Energy Support Scheme
It is also important to remember that the £66 payments under the Energy Support Scheme which all households have received will end in March 2023. Some may be still eligible but not every household will receive the payment. So that will mean your outgoings on your energy bill will be more than an extra 20% rise.
Martin Lewis explains why energy prices will increase in April 2023.
Why the energy price cap will fall in April, but we’re all set to pay 20% more.
The price increase isn’t a shock as was announced in the last budget. Reducing the discount households receive under the Energy Price Guarantee means that energy bills will increase by 20% to make up for the shortfall. Some may argue that this is fair as the government doesn’t have an unlimited supply of cash but campaigners like Martin Lewis have been calling on the government to reverse their decision.
When will we see our energy bills go down?
As the Energy Price Cap is based on historical wholesale energy prices and wholesale prices are continuing to fall we should see prices fall below the Energy Price Guarantee by July 2023. I am hopeful of an Energy Price Cap of around £2,100 by July.
I am a big advocate of reducing consumption and load shifting. This means ducking and diving to try and say money using less energy or using energy off-peak. At the moment that is the only real way to save money, you have to hustle by adding solar panels or just using your white goods at night when energy is cheaper. (You need to be on a time-of-use tariff)
My preference has always been a fixed energy deal but they have been off the scene for quite some time, however, as wholesale prices continue to fall I can see them making a comeback by the summer of 2023. At this point, I think you should grab a fixed deal with two hands and hold on tight! You can always switch tariffs if they fall further but it gives you lower prices guaranteed for a longer period of time.
Let’s hope we see these new fixed tariffs emerging very soon!
Today Ripple Energy launched its 3rd Project, which will be a solar park in England. I have bought shares in the first two projects. The first is already providing me with savings on my energy bills and the second should come online at the end of the year.
Investing in Ripple Energy’s, third project, a solar farm could be a great way to reduce your energy costs and contribute to the fight against climate change. With Ripple Energy, you can now co-own a solar farm and benefit from the savings of renewable energy. By pooling resources with other investors, you can access the advantages of owning a solar farm without having to worry about the upfront cost or maintenance. With Ripple Energy, you will get access to clean electricity generated by your own solar farm and enjoy long-term savings on your energy bills.
You might want to be sitting down– this one’s a biggie!
We’ve been working on this for a while and we’re delighted to share that Project 3 is a solar park! Watch @SpeakSarahSpeak and the whole Ripple tell you more 💥
I hope project 3, will be quicker, as I am just guessing a solar park might be easier to construct than a wind farm. The sooner it comes online the sooner people can save.
I borrowed a thermal imaging camera from Octopus Energy.
In 2018 I moved into a new build home and since that day, my bedroom has always been the coldest room in the house. I assumed that the bedroom was cold as it is above a garage. I learnt to live with it. However, after adding a bit of tech into my home, in the form of wifi radiator vales, I discovered how much colder my room was. It was consistently at least 3-4 degrees cooler than the rest of the house.
As my home is protected by the NHBC warranty for ten years I decided to complain to my home builder. After a few cold months, they arrived, in the summer only to confirm that everything was as it should be. They told me I had adequate insulation above the bedroom in the loft and below the bedroom in the garage.
Fast forward 6 months and throw in a thermal imaging camera.
In January of this year, Octopus Energy loaned me a FLIR thermal imagining camera. The thermal imaging camera came with a handy booklet which explained what to look for. Apparently, 25% of your heat loss at home goes through the roof!
I charged the camera up and whilst having difficulty sleeping I decide to point it at my bedroom ceiling. I was agast! There were zebra stripes of heat loss all across the room. The temperature differed by around 4 degrees in rolling stripes all across the ceiling. That’s why my bedroom was always cold!!!
The thermal imaging camera Octopus Energy loaned me instantly saved the video clips to my phone. So I instantly emailed it to my home builder and pointed out that despite their survey there was obviously something wrong with my insulation!!
Two weeks later I am typing this blog post in a very cosy bedroom!! It is quite staggering the difference the correct insulation has made. It is now one of the warmest rooms and is a much nicer space to relax in. Imagine how much money I must have been wasting on heating this space just for it to head up into the loft!
What is a thermal imaging camera and how can it help?
A thermal imaging camera can be a great way to save money on heating bills in the UK. Thermal imaging surveys create a visual picture of a home or building so that areas of poor insulation and inefficient appliances can be detected. This helps identify hidden sources of energy loss, such as loft insulation. By identifying these inefficiencies, households can make their homes more energy efficient and reduce their energy costs.
Thermal imaging cameras help detect issues that would otherwise remain hidden from view, providing an easy-to-understand visual representation of where efficiency improvements could be made to reduce energy costs across the home or building. I would never have been able to call my homebuilders to account without it!
By providing a three-dimensional image of the home or building’s thermal profile, these cameras can help pinpoint where insulation may need to be added or adjusted in order to target certain areas that are causing the most energy consumption. Thermal imaging cameras are an efficient way to identify air leaks and other potential sources of energy loss, making them an invaluable tool for those looking for ways to save money on their heating bills.
How do you borrow a thermal imaging camera from Octopus Energy?
The list is closed for this winter but you can sign up for winter 2023 on this Octopus blog post. If you think you have issues in your loft it would be well worth hiring a thermal imaging camera now. I would have saved so much energy if I had been able to identify my loft insulation issue earlier.
Save money on your energy bills by using a thermal imaging camera.
The energy crisis in the UK has seen annual energy bills skyrocket and homeowners have had to find ways to reduce their energy loss. One way of doing this is by investing in insulation, which can be detected using thermal imaging cameras. Thermal imaging cameras can also identify issues such as drafts, poorly fitted windows, and other potential sources of energy loss in a home, allowing homeowners to make informed decisions about how best to address any problems that may arise.
It has been a crazy few weeks. Trying to keep the family warm while keeping one eye on the cost isn’t always easy but at least this week it has been a little warmer.
We have been doing our daily routine as normal load shifting as much energy as possible to the evening. This way we keep the average price we pay for electricity below the Energy Price Guarantee. I think last month we managed to load shift around 55% of our energy use to the nighttime.
We have also been taking part in the National Grids, Demand Flexibity Service. We took part in the trials at the start of 2022 with Octopus Energy and the National Grid. Now the sessions are for real. The National Grid called on consumers twice last month to reduce the amount of energy they use to help balance the grid. It was quite a historical moment and stopped coal fire power stations from coming online.
Five minutes of fame – News at 10 pm.
I was on the News!! To be precise I was on Channel 4 News at 7 pm., ITV News at 10 pm, BBC News at 10 pm and BBC News online. It all got a little busy after I took part in a phone on Radio Wales. My phone went slightly crazy and I ended up with two camera crews in my house watching me taking part in the Octopus Saving Sessions.
I was hoping that with the lights out I wouldn’t get much of a spotlight but they had me turning lots of appliances off ready for the 6 pm start of the Saving Session which lasted for an hour.
I hated seeing myself on the news BUT it really helped to get the message across about the Demand Flexibility Service. You don’t need to sit in the dark, although lots do. It is just a case of shifting energy use of large appliances or simply not using them during a particular window of time.
Without the camera crews in attendance, I usually take advantage of a quiet hour when the kids aren’t nagging me for food. With their devices charged, they are more than happy to just watch some kiddie’s TV while I put my feed up. It really is as simple as that. Most of the sessions have been in the evening and have involved pushing back or bringing forward dinner by an hour.
Why take part in the Octopus Saving Session?
When you take part in an Octopus Saving Session you will get paid for not using electricity. So by not cooking the kid’s tea during the session or not putting on a load of washing you will get paid for doing nothing! This helps are you will be playing your part in putting less demand on the National Grid during a period they are concerned demand will force them to flick the big dirty switch on. So you’ll save money and help the planet.
Personally, I don’t take part just to save money I am more concerned about helping make the grid greener. I was brought up in the South Wales valleys where coal dust was everywhere. The sides of mountains would smoulder. Coal really is a dirty business!
This was opposite my school. The school was there first and they built this phenacite plant after. Everything was black. The cars the windows, even your hair had dust in it! So I really don’t mind doing absolutely anything to stop coal fire power stations from coming online! We need to try harder to make the grid greener.
You can still sign up if you are an Octopus customer and have a smart meter. You will get a notification 24 hours before the session starts and you just have to opt-in. Octopus has gamified the sessions by awarding customers points based on how much energy they have managed to offset. You can then redeem these points and add the credit to your energy bill or donate them to a fuel poverty charity.
Octopus Go versus Octopus Agile is one of the most popular topics linked to Octopus Energy smart tariffs. You’ll need a smart meter to access both of these Octopus Energy tariffs but once you’re ready to go and leave your interim tariff the big question is Octopus Go or Octopus Agile?
What’s right for you – Octopus Go v Octopus Agile.
No one can tell you which Octopus smart tariff is right for you. So many influencers seem to hold the answer but they aren’t you and they don’t know how and when you consume energy and your personal preference to invest time in order to save money or access greener energy.
The key thing to remember is that this is all fairly new territory and whatever you do, whichever Octopus tariff you choose you’re making a greener choice that is right for you at this moment in time.
Here’s some information that may help you make up your mind on your Octopus Energy smart tariff.
The Octopus Energy Agile tariff allows you to use energy when consumption is low bringing down prices to a minimum, sometimes even free. Shift your energy use outside the 4-7 pm peak to save money and use cleaner, greener energy when there is less demand on the grid. Plus “plunge” pricing when wholesale prices go negative could even pay you to use energy!
Octopus Agile November version 1
On the 28 of November 2022 November, version 1 of the Octopus agile tariff was launched. The new Agile tariff has a cap of £1 per kWh and has an Energy Price Guarantee discount.
The NEW Octopus Go flexible tariff.
Octopus Go offers a very attractive 4 hours of electricity at 12p per kWh between 00.30 and 04.30hrs. You can keep the running costs of your EV down but you can also schedule large home appliances to run during these times, such as your washing machine and dishwasher. When the peak unit price on Octopus Go is 42.17p per kWh this will make a considerable saving on your energy bill!
The new kid on the block is the Intelligent tariff. I have been on it for a while but you have to either have a compatible EV or charger. The big draw to this tariff is that it’s 2p less off-peak than Octopus Go at 10p per kWh and you get 6 hours as standard instead of 4.
I average between 17p and 19p a kWh on the intelligent tariff. I use around 55% of my home energy off-peak even though I am home all day. My mileage isn’t massive but I load shift lots in the evening. My peak rate is slightly lower. I am still on the old fixed rate of 7.5p per kWh off-peak and 40.04p per kWh at peak.
How much does Octopus Agile cost?
The Octopus agile price per kWh of electricity changes every 30 minutes. The idea is that you shift your energy usage to a time when there is less demand on the national grid. The prices are displayed the day before on the Octopus Energy website. You can find out more information about the Agile tariff on the Octopus website.
Octopus Agile is usually much more expensive than Go between 4 pm to 7 pm peak period but cheaper than Go from 04:30 am to 4 pm.
Octopus Agile tariff price on Friday 31st March 2023
This is the November version 1 of the Agile tariff.
Min: 19.2p per kWh (22.30)
Max: 34.0p per kWh (16.30)
Average: 26.3p per kWh.
Av. Excluding Peak times: 25.2p per kWh
Peak Time 1600 – 1900: 34.0p per kWh.
Prices are based on national average prices per kWh
Thanks to @energystatsuk for the daily figures
The average Agile price per kWh is 26.3p (31/03/2023)
Points to consider;
Octopus Agile is capped at £1 per kWh with a daily standing charge of around 47.52p. It could rise very sharply as demand increases in the winter.
Octopus Go is 42.17p per kWh with an off-peak rate of 12p per kWh. (depending on your geographical location)
The intelligent tariff gives 6 hours off-peak at 10p per kWh
You need an EV to be on Octopus Go or Intelligent tariff.
You may get less for exporting your excess solar on either of the EV tariffs.
The Agile price should go up and down in price but it could get stuck at around the £1 per kWh peak price. It is a gamble on the amount of wind and demand on the national grid but prices have recently gone negative. This means customers have been paid to use energy.
The Go or Intelligent tariff should bring your average price per kWh down if you load shift. If you can shift a proportion of your energy use off-peak you could beat the flexible tariff! You just need to get into the habit of turning white goods on late at night or invest in a few cheap timers. Lots of washing machines and dishwashers have timers built in. You have just got to use them!
Here is a quote for Octopus Go on 31st March 2023. It is a good deal in the current climate for charging off-peak. The Octopus Go tariff is a fixed deal for 12 months. It does not receive a discount under the Energy Price Guarantee.
If you switch away from Octopus Agile you can’t switch back for 30 days but that’s fair enough!
So the winning Octopus Smart tariff is……
I won’t take away the last 2 minutes of your life without giving you my opinion. 😆 It’s all very personal to your needs but if you want to plug your EV in and forget about it Octopus Go is more likely to be the one for you! However, the intelligent tariff beats this hands down. You just need to have a compatible vehicle or charger. Load shifting can reduce the average price you pay per kWh quite dramatically.
You need to make the most of the 4 or 6 hours of very cheap energy to get the average price you pay below the EPG. So get the washing machine whizzing and dishwashers running off-peak this will bring down your average price per kWh.
In my opinion, Octopus Agile half-hourly pricing is, without a doubt, the way forward to even out our energy consumption and reduce the massive peaks in use on the national grid. The intelligent tariff also works in the same way but Octopus take control of your EV charging schedule. If you are happy to try this new tariff you will get 6 hours off-peak instead of 4. Smart tariffs have so much to offer if you can be creative with your energy use. This is a good read on half-hourly pricing and net-zero.
Just a final thought, heat pump owners have been crying out for an off-peak smart tariff and Octopus now has one! It’s called the Cosy Octopus tariff and has a double dip of off-peak pricing during the day. You can find out how much you would pay per kWh on the Octopus website under Cosy Octopus. Just scroll down and enter your postcode.
Octopus Agile Tariff.
Cheapest 4 hours.
Average price kWh
Cheapest price 30 minutes.
National Average Price of Energy.
Energy Price
Energy Price.
Energy Price.
Average price per kWh over 7 days.
Friday 31/03/23
........
26.3p per kWh.
19.2p per kWh.(22.30)
Thursday 30/03/23
19.9p per kWh.
24.8p per kWh
18.0p per kWh.(05.00)
Wednesday 29/03/23
19.9p per kWh.
25.2p per kWh.
17.9p per kWh (22.30)
Tuesday 28/03/23
21.1p per kWh.
26.5p per kWh
18.6p per kWh.(03.30)
Monday 27/03/23
21.4p per kWh.
26.9p per kWh.
20.4p per kWh (15.00)
Sunday 26/03/23
16.2p per kWh.
24.9p per kWh
13.7p per kWh (07.00)
Saturday 25/03/23
0.9p per kWh.
18.6p per kWh.
-0.4pp per kWh.(05.00)
Octopus Agile Average unit price over the last 365 days in my area. 29/08/22
Per kWh.
Average price including peak times.
37.07p
Average price excluding peak times. (4pm - 7pm)
34.06p
Average price during the cheapest 4 hours.
28.58p
Standing charge
47.88p
Thanks to @energystatsuk for the daily figures.
If you own a Tesla or an Ohme Charger (or you are thinking of buying this charger) take a look at this beat EV tariff, Octopus Intelligent. It offers 6 hours of off-peak charging.
If you don’t own an EV and are using Octopus Agile as an alternative to a standard Octopus tariff it’s still a great way to focus your mind on shifting your energy. This tariff is fantastic for helping to make the grid greener.
Whenever you discover this post if you are asking yourself Octopus Go versus Octopus Agile remember you are asking yourself this question as you are not sticking to the norm and going with a standard tariff. Standard tariffs at the moment are ridiculously high! Switching to a smart tariff at least gives you the freedom to try and bring your overall energy bill down. You may be trying to be greener or save money or both but it’s all a learning curve and one we have to do to give the planet a better future!!
It’s great to see so many customers on Twitter getting excited again about the Octopus Agile tariff. We have threats of blackouts looming and time of use tariffs most definatly have their place. If you can shift your energy use to when their is less demand on the grid not only will you save money but you can help stabalis the National grid.
I would strongly suggest looking at the Octopus Watch app. Watch refers to keeping an eye on something rather than needing a smartwatch to access it!! 😁
I would say this is one of the most useful apps to consider if you are switching to the Octopus Energy Agile tariff. This app allows you to download up to 3 months of historical data. You can use it to set Agile pricing alerts and interact with Siri. It’s a good app but the fun really starts in the subscription version.
Octopus Watch with Subscription.
(£1.99 + £7.99 per year/£0.99 per month)
This is really if you want to help shift your usage to make energy greener. You can set alerts so you know when the lowest carbon period is. It really depends on how much you want to play around with your energy usage and shift. The predictive reports are great too. If you want to plan and work out which day would be best to charge your car or do your weekly wash then the predictive option helps a lot. Of course, these energy prices are just predicted. However, they have shown to be 90% accurate, which is good enough for me. Here is the smarthound website.
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