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Scott3

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  #2926003 13-Jun-2022 12:50
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Yeah, you play a dangerous game if you are a power retailer selling at fixed prices to consumers, without having extensive hedging agreements in place.

 

Octapus might be big enough to carry the risk, but for most of the small power retailers, there is the potential to loose a company bankrupting amount of money in a few days in the event of some abnormal network conditions.

 

I worked for a power company a long time ago. Couldn't get the terms we wanted in a hedging deal, so we actually built a little diesel peaker plant to manage the risk of very high wholesale prices.


eonsim
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  #2926055 13-Jun-2022 14:01
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Scott3:

 

RE Octopus

 

...
Somebody elsewhere has noted that the 17c solar buyback is a credit, not cash. Quite important if any boy is a next earner from exports.

 

17c solar buyback (not sure how GST works with this, don't have any solar), when I am going to be paying only 14.29c incl GST for power in solar peak generating hours.

 

...

 


But for those who both have solar and are standard uses, it is a massive approach changer. No longer are you best off to self consume your own power, by moving loads to the middle of the day. You are now better off to just sell the power in the middle of the day, and move your loads into the night. Battery users will be best to set their batteries up to be fully charged at the start of weekday morning & evening peaks, and at the end of "night" rate on the weekends, rather than attempting to self consume solar. Thereby avoiding peak fees.

 

Actually the above is what is best for the power network as a whole, (peak shaving, rather than optimizing for max self consumption).

 

 

 

I don't see any need to wait a year. Priced are fixed for a year, so if you like them, jump on it, and review the new prices in a year's time.

 

...

 

 

 

 

So the 17c includes GST based on their docs, and compares to ~14c with GST for EKMM.

 

There is one (or possibly both) of two things probably happening with 17c offer for solar:

 

1) They have a decent-sized marketing budget and are running the 17c as a loss leader to attract high-value customers (Solar users etc), note they have said they are interested in testing out their distributed power management software, and people with solar are an ideal test case.

 

2) They have some exposure to the spot market during the day (not enough hedged power) and thus every kWh of solar they can get is saving them the cost of 1kWh at the current spot price (which for the last few months has been around 20c during the day).

 

 

 

With regards to hopping now, I only hopped to EK last month (plus their broadband) so will have to think about it. Running the numbers for a fairly typical day last week Octo would be $7 cheaper per month than EKMM for me, but I'd need to find some decent deal for broadband from somewhere else and then switch again once the broadband deal ran out...


martyyn
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  #2926075 13-Jun-2022 14:24
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Rather than spend the morning doing what I'm supposed to be doing, I'm downloading data and making spreadsheets !

 

The Powerswitch site has my existing plan on Powershop coming in second to Octopus and saving a massive $20 over the year. But when I download my last months data and allocate the usage to the appropriate time slots I would have saved $43.81 last month.

 

I'm at home three days a week, so running the dishwasher/washing machine/dryer during the day is not hard and running the dishwasher at night can be done with the in built timer.

 

We collect an EV this week which will only need to be charged once a week so that can be done at night but if we go further on the weekend it can be charged for longer periods at the off peak rate.

 

It's seems like a no brainer to switch (especially as we plan to install solar) but $43 seems too good to be true.

 

 


  #2926087 13-Jun-2022 14:42
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Unfortunately Octopus is not available in Christchurch yet

Hammerer
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  #2926095 13-Jun-2022 14:58
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I looked to go with EK but signed with Octopus as soon as I saw that Ari Sargent is managing the operation. He did a good job with setting up Powershop so has the experience and intelligence to do a good job with Octopus.


boosacnoodle
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  #2926131 13-Jun-2022 15:48
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larknz: Unfortunately Octopus is not available in Christchurch yet

 

That's interesting. It was there a few days ago when I checked and they have a retailer agreement with Orion. Could be a glitch.


mattwnz
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  #2926146 13-Jun-2022 17:01
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Octopus looks interesting. DO they offer any form of refer a friend scheme?  I am switching from Powershop after they decided to increase their low fixed power price without informing me what the price rise was going to be prior, even though they notified me of other price changes. Plus power in winter seems to go up quite  bit. I am switching to Frank energy but may look at Octopus in the future.


Leo90
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  #2926159 13-Jun-2022 17:56
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AklBen:

 

I get the feeling that the Octopus rates are likely to be promo rates, a mate of mine sent an interesting screenshot when quoting on the Octopus website which said to wait for their current retailer to shift them off their current fixed term so they are protected by the "Government's energy price cap".

 

Very interesting...basically saying don't switch now as our rates are likely to be more expensive as a new term??

 

 

 

 

Your mate has navigated to the UK website. Octopus' SEO isn't great apparently as when you search 'octopus energy' their NZ homepage is about 2-3 links down and the UK one doesn't redirect you.


vexxxboy
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  #2926161 13-Jun-2022 18:02
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Scott3:

 

Despite, starting the thread on the 3rd of April, I got distracted and never auctioned anything (was leaning towards electric kiwi movemaster).

Looked back into the situation tonight. Surprised how much Electric kiwi rates have moved in that time.

 

Ran a simple model, where I used my most recent bill (29 days, 1130kWh) and assumed my consumption would be evenly distributed across the day. Key players:

 

  • Pulse (current provider- flat kWh rate): $301
  • Frank energy (flat kWh rate): $269
  • Contact good nights (flat kWh rate, except 3 hours for free in the evening): $306
  • Octopus (peak / shoulder / night): $241
  • Electric Kiwi move master (peak / shoulder / night + 1 free hour of power): $256

 

 

 

sorry slightly off topic but how did you go about leaving pulse and joining Octopus, more to the 30 day notice of leaving Pulse. i am looking to leave pulse to.





Common sense is not as common as you think.


liquidcore
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  #2926175 13-Jun-2022 19:03
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Does Octopus Energy have an app for New Zealand?

  #2926183 13-Jun-2022 19:23
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boosacnoodle:

larknz: Unfortunately Octopus is not available in Christchurch yet


That's interesting. It was there a few days ago when I checked and they have a retailer agreement with Orion. Could be a glitch.


I'll have to try again.

RunningMan
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  #2926186 13-Jun-2022 19:43
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larknz: Unfortunately Octopus is not available in Christchurch yet

 

The map says they are


  #2926299 14-Jun-2022 08:50
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RunningMan:

larknz: Unfortunately Octopus is not available in Christchurch yet


The map says they are


The address finder says they don't supply me even though I am in the Orion area. So I have sent them an email to find out what the reason is.

vexxxboy
4244 posts

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  #2927908 15-Jun-2022 12:51
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i went to change from Pulse as Powerswitch said the Pulse plan i was on was expensive. But Pulse contacted me and said are you sure because you are on your own separate plan that you signed up for when first joining and we cant change it. It seems i am only paying 12.205 cents a Kw peak and off peak and you would be stupid to leave . So i am staying.





Common sense is not as common as you think.


  #2927917 15-Jun-2022 13:03
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vexxxboy:

i went to change from Pulse as Powerswitch said the Pulse plan i was on was expensive. But Pulse contacted me and said are you sure because you are on your own separate plan that you signed up for when first joining and we cant change it. It seems i am only paying 12.205 cents a Kw peak and off peak and you would be stupid to leave . So i am staying.


Have you looked at your bill to confirm the rates and what is the daily charge.

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