[Gman]

Why don't SEG payments track the consumer price for electricity?

[avburt1]

Great question! Look forward to hearing an answer... Octopus just increased theirs to 4.1p kwh

[Beki]

@Gman & @avburt1 Good morning! Beki here. 👋
I have asked the SEG experts if they know why but I also found some great information on the Which? website.

[SnAkEs1210]

Originally Posted by Gman

Why don't SEG payments track the consumer price for electricity?

Because of greed

E.on would offer me 3p per kWh of energy that I put into the grid

E.on charge me 53p per kWh of energy I take from the grid.

my solar panels pumped 7000kWh of electricity into the grid last year. I got paid £211

I use 1800kWh per year and e.on have quoted me over £1000

I am in the process of switching to Octopus energy. They will pay you 15p per kWh of electricity if they are also your supplier

[SnAkEs1210]

Originally Posted by Beki_EONNext

@Gman & @avburt1 Good morning! Beki here. 👋
I have asked the SEG experts if they know why but I also found some great information on the Which? website.

how is that information useful? It in no way explains why energy companies completely rip off their own customers that have taken steps to reduce their carbon footprint

When I had the solar panels fitted I was paying about 15p per kWh of electricity and getting paid 3p for electricity that i export

Today, e.on want to charge me 53p per kWh of electricity, so you can see that the price has gone up dramatically.

Guess what hasn't gone up... yep, my feed in tariff. E.on will still only pay me the same 3p per kWh of electricity that I export.

i got paid £211 for a years worth of exported electricity. At 3p per kWh, this would mean that my solar panels generated 7000kWh of electricity.

I use 1800kWh of energy yearly, so nothing in comparison to what I produce, yet i am still looking at an electricity bill of over £1000

Now, I am giving you the opportunity to explain to me how this is not a SCAM

£3 billion profit in the first 6 months of this year, is it any wonder when you are purchasing energy from me for 3p and selling that energy on for 53p?

[Gman]

@SnAkEs1210 I've been looking into this too. I currently export about 2600kWh, and have an EV on order that will need 1600kWh to do my current annual mileage (6000 miles). I'm hoping that I can get most of that from my PV, but it will reduce my export. So that in turn reduces the appeal of a higher SEG rate from Octopus. Time will tell whether that's workable.
It's a case of "horses for courses" I suppose, what I gain on the SEG I may lose in forgoing an off peak EV rate such as Octopus GO. If you do lots of miles in an EV and want to charge it at home, Octopus GO looks more interesting.
Seasonal variations in output from my PV complicates matters more, I'm retired so most of my EV use will be in the summer months when PV output is highest, BUT during summer I won't be at home so much to make use of my PV output.
Switching between tariffs isn't quick or simple enough to make the perfect answer achievable.

[SnAkEs1210]

Well, I am currently in the process of being switched to Octopus Energy.

They have provided me with the correct information regarding the variable tariff that I am being put on, so that's already one better than e.on as they haven't been able to provide this to me.

They have also confirmed that they will be paying 15p kWh for the electricity that I export.