Octopus launches new solar and battery optimisation smart tariff (BETA)

Octopus Energy has announced the launch of a new smart tariff aimed at consumers with domestic solar and battery storage.

The company says the tariff could unlock more than £450 of savings per year for consumers and help to balance the grid.

Intelligent Octopus Flux (IOF) will offer the same rate for both importing and exporting electricity, with a 21 hour off peak window costing 10% less than Octopus Energy’s standard variable ‘Flexible Octopus’ tariff, and a three hour peak window from 4-7pm.

Octopus says this will allow customers to save more than £450 a year compared to customers on their ‘Flexible Octopus’ and fixed export ‘Octopus Outgoing’ tariff. The combination import-export tariff will be available to all Octopus customers with solar panels and eligible batteries.

The tariff is powered by Octopus’ tech platform, Kraken, which optimises a home’s batteries and solar panels to use electricity when supply is higher and cheaper.

The IOF tariff will automatically set their battery system to charge and discharge at times when they receive the best import and export rates to and from the grid. Customers previously had to do this manually.

https://www.solarpowerportal.co.uk/news/octopus_launches_new_solar_and_battery_optimisation_smart_tariff

dragon2905 I don't blame you for not seeing this, but I posted about this almost a week ago here: https://community.givenergy.cloud/d/2691-octopus-new-tariff-intelligent-octopus-flux

To me though, actually didn't look that exciting vs staying on Flux with full control.

LordHippos ahh snap no didn't see it other wise wouldn't have posted it.

yes there was lots of discussion on the original thread

I am currently debating with myself when to move to Go again if I can, as the weather worsens into Winter, any variation of Flux isn't going to be that amazing as won't be exporting much.

I'm not convinced that any of these managed tariffs make a lot of sense when you consider battery capacity/lifespan.

Yes the G2 battery has 100% DoD and can do a lot of cycles (hence the 10 year warranty) but I'm not convinced that giving Octopus control of it to pretty much suck it dry at max discharge rate at least once a day is worth the rates on offer.

I can see the attraction for the supplier - and that's why companies like EON are offering "managed" GivEnergy battery installs to customers in some areas. Its essentially free storage for the supplier who can charge/drain the battery when they like - ie when they can make the most money.

In the meantime the customer has paid the capex on the install and has to deal with a depreciating (in more than one way) asset.

I can also see the attraction of having a managed system for most people. They don't want to be using Solcast forecasting/Agile rates etc to work out how much to charge the battery from the grid, they want to know how much they'll save.

LordHippos can we switch from Flux to GO like this?

DeepS

deepanshus Only one way to find out! 🙂

Not sure when yet, but probably sometime in the next month or so.

I can't see they will do anything different to what I am trying to do with Flux. They are presumably working with GE, so that should be alright. They are paying more and allowing automation, which I still can't do, without manual intervention.

I've joined the waiting list. Got to sort my export out first though as it's not with Octopus

I've done some rough sums and it looks more expensive on the new tariff until you take into account exporting.

I'm hoping I can end up with an annual bill for £0 (excluding standing charges) for electric. Or potentially a bit more back from them.

I might get some more panels too, having a think about that at present. Do I want to spend my savings on more tech or put it towards a new car. Difficult decision. Panels might win given the cost of living issues!

BarleyRiser yes I agree, plus it gives you a peace of mind that you can top up your battery any time of the day… as long as you can export between 4 to 7