[Andrej]

Hello eonnext

I recently found out that my Feed-in tariff price is 0.18 p/Kwh, but I pay 0.31 p/Kwh for electricity to my supplier. What's wrong with my electricity that it's so cheap? 50% of my electricity is export eonnext buy it for 18p and sell it for 31p back to me. Why?

Regards

[retrotecchie]

@Andrej

What's wrong is the energy market and the way that electricity is priced as a result of the energy crisis. Back in the day, folks were getting 40p plus for FIT when bought in energy was costing 9p a unit. This was completely unsustainable as more and more people adopted solar, so over time, OFGEM reduced the FIT rates to a more realistic level. FIT was closed to new customers in 2019 with new customers getting around 3p a unit under Small Export Guarantee.

You are still winning....you may be exporting half of your generation at 18p but are using the other half which is saving you buying in at 31p.

Say your solar generates 10 units a day, half of which you export. Your household consumes 20. Without the solar, you would be importing all 20 units at 31p for a total of £6.20.

But you are only buying in 15 units at 31p for a total of £4.65, using the other 5 for free, and getting 90p back for a total cost to you of £3.75.

Still winning