Octopus energy company. Anyone use 'em?

Octopus energy company. Anyone use 'em?

Author
Discussion

Trustmeimadoctor

12,837 posts

158 months

Saturday
quotequote all
Yes if the pence per kw is less or the same for electric than if is for gas it it would be cheaper. infact if the rate is even slightly more for electric than gas it will still be cheaper as gas isn't as efficient as electricity.

But if move your gas to a different tariff too

pingu393

8,178 posts

208 months

Saturday
quotequote all
Trustmeimadoctor said:
Yes if the pence per kw is less or the same for electric than if is for gas it it would be cheaper. infact if the rate is even slightly more for electric than gas it will still be cheaper as gas isn't as efficient as electricity.

But if move your gas to a different tariff too
You need to measure how many kWs of gas you need to heat the water from cold to hot, and how many kWs of electricity you use to heat from cold to hot.

It won't be the same number of kWs, as one method will be more efficient than the other.

SpidersWeb

3,809 posts

176 months

Saturday
quotequote all
P40L VX said:
For users who are on standard go and the regular gas’s tariff. Is it a simple calculation on working out what’s the cheaper approach to heating water?? Option 1 - heating the water via a smart immersion during the new 00:30-05:30 window or option 2 - use the gas boiler to heat?
Standard gas tariff (although why you are on that and not Tracker is your decision) is roughly 6p/kWh and electricity on Go is 9p/kWh overnight.

Unless your gas boiler is less than 66% efficient (it won't be) then gas is cheaper,

And if you were on Tracker where the price has been 4.5p for ages then the boiler would need to be less than 50% efficient.

Realistically electricity would need to be less than 5p/kWh for it to make it cheaper, and it is occasionally on Agile but otherwise it isn't.




Trustmeimadoctor

12,837 posts

158 months

Saturday
quotequote all
I am give broad brush as we don't know how much they pay for gas or how efficient their boiler is!


B'stard Child

28,681 posts

249 months

Saturday
quotequote all
pingu393 said:
Trustmeimadoctor said:
Yes if the pence per kw is less or the same for electric than if is for gas it it would be cheaper. infact if the rate is even slightly more for electric than gas it will still be cheaper as gas isn't as efficient as electricity.

But if move your gas to a different tariff too
You need to measure how many kWs of gas you need to heat the water from cold to hot, and how many kWs of electricity you use to heat from cold to hot.

It won't be the same number of kWs, as one method will be more efficient than the other.
The other thing to consider is where the element is in the tank

When I turned off the gas boiler and drained the system last year I heated water by Electricity - it came out at a similar cost as I have a vertical element in the tank and it's not very long so only heats half the volume of water compared to the boiler fed coil which is much lower in the tank and heats a lot more volume.

P40L VX

126 posts

218 months

Saturday
quotequote all
SpidersWeb said:
Standard gas tariff (although why you are on that and not Tracker is your decision) is roughly 6p/kWh and electricity on Go is 9p/kWh overnight.

Unless your gas boiler is less than 66% efficient (it won't be) then gas is cheaper,

And if you were on Tracker where the price has been 4.5p for ages then the boiler would need to be less than 50% efficient.

Realistically electricity would need to be less than 5p/kWh for it to make it cheaper, and it is occasionally on Agile but otherwise it isn't.
Excellent, thanks for the view. I wont invest in a smart element for the water tank then and switch to the tracker tariff for the gas.

Edited by P40L VX on Saturday 29th June 10:11

pingu393

8,178 posts

208 months

Saturday
quotequote all
B'stard Child said:
pingu393 said:
Trustmeimadoctor said:
Yes if the pence per kw is less or the same for electric than if is for gas it it would be cheaper. infact if the rate is even slightly more for electric than gas it will still be cheaper as gas isn't as efficient as electricity.

But if move your gas to a different tariff too
You need to measure how many kWs of gas you need to heat the water from cold to hot, and how many kWs of electricity you use to heat from cold to hot.

It won't be the same number of kWs, as one method will be more efficient than the other.
The other thing to consider is where the element is in the tank

When I turned off the gas boiler and drained the system last year I heated water by Electricity - it came out at a similar cost as I have a vertical element in the tank and it's not very long so only heats half the volume of water compared to the boiler fed coil which is much lower in the tank and heats a lot more volume.
When we had an immersion heater, there were two elements, one long and one short. The short one only heated the top half of the tank.

We got rid of the tank when the gas boiler was installed. I wish we still had it, as I'd use excess solar to heat the water.

KTF

9,861 posts

153 months

Saturday
quotequote all
Cheaper to export the solar at 15p and use the gas to heat the water at 4.xp


pingu393

8,178 posts

208 months

Saturday
quotequote all
KTF said:
Cheaper to export the solar at 15p and use the gas to heat the water at 4.xp
I'm on Tracker, not Agile.

KTF

9,861 posts

153 months

Saturday
quotequote all
pingu393 said:
KTF said:
Cheaper to export the solar at 15p and use the gas to heat the water at 4.xp
I'm on Tracker, not Agile.
I am on tracker as well and still use the gas to heat the water.

My immersion heater only heats half the tank which makes it pointless to use. An eddi or similar definitely isn’t worth it.

MrJuice

3,470 posts

159 months

Current delta between cap price and tracker price is very minimal

Trustmeimadoctor

12,837 posts

158 months

Indeed, a lot less attractive now

Random_Person

18,485 posts

209 months

So whats the answer then - don't want to rush in to a fix if come winter when usage soars, it may still be the cheapest option.

SpidersWeb

3,809 posts

176 months

MrJuice said:
Current delta between cap price and tracker price is very minimal
Gas is still around 20% cheaper on Tracker even after the July price cap drop, and although Electricity isn't worth it there is still Agile.

defblade

7,508 posts

216 months

MrJuice said:
Current delta between cap price and tracker price is very minimal
Hmm, it's about 10% with occasional bigger ones for a day or two weekly. Still means you're paying less than you would be otherwise. (And IIRC, the cap is likely to go back up next time, too.)

MrJuice

3,470 posts

159 months

SpidersWeb said:
Gas is still around 20% cheaper on Tracker even after the July price cap drop, and although Electricity isn't worth it there is still Agile.
true

but how much gas are you using per day? I am using about 50p worth


Greshamst

2,101 posts

123 months

Is gas tracker definitely worth it?

Moved house recently and the electricity is on agile, but gas still on the regular variable tariff.

Looks like generally it’s cheaper than variable, but could there be a sting come winter? Have moved from a flat that required the heating on for about 10 days a year, to a house that seems like it may be quite cold in winter so slightly apprehensive as not had a winter here before.

John87

566 posts

161 months

I've been on gas tracker for about a year now and although I don't follow prices religiously, I've yet to see it higher than the price cap