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timmmay

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#299340 30-Aug-2022 20:38
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I just took the time to properly compare EK MoveMaster with Octopus Energy. EK helpfully provided me the half hourly power usage data for the last year. For reference, our free hour of power usage sits at around 20%, give or take - in summer it's higher more like 25% - 30%, in winter it's lower more like 15%. We do 5am to heat water, run the dishwasher, turn on heating, clothes drier, etc.

 

One large Excel spreadsheet later, and I can say for us there's very little difference. EK MoveMaster came out to $3173, Octopus came to $3194. Our actual power bill for the past year was $3450 which includes about 4 months on MoveMaster, or $3939 for the year prior to starting MM, so MM will save us $300 - $800 per year depending how you work it out. I included that Octopus has no peak periods during weekends. Anyone locked into the Octopus startup prices will probably be doing fairly well.

 

To get the best of either plan people would need to use timers including hot water. Octopus is probably more convenient as you're not trying to push everything into the free hour, which has the benefit of reducing peak current draw which risks blowing pole fuses -I  did that once, the fuse was faulty. With Octopus we might also do things like tweak the times heating comes on and such, as right now we're optimised for MoveMaster, but I'm not sure we'd be able to optimise much.

 

I can't see any reason to move from EK at this stage.


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Wheelbarrow01
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  #2961336 30-Aug-2022 22:23
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Yea I went over a few previous bills to do the same EK/Octopus comparison. Not to the level of detail you did, but I came out with a similar result - the savings seemed minimal.

 

We switched to EK Move Master a few months ago, and at the same time, we started switching the water heating off outside of the overnight off-peak period. These two changes halved our bill overnight. Our bill is now around $70 a fortnight. Currently we use the hour of power at 11pm when the water heating is switched on and we run the dishwasher at the same time when required. We have a log burner so our winter bill is essentially the same as summer.

 

What I didn't factor in is that Octopus is off-peak all weekend whereas EK is not. So weekend evening meal cooking would effectively be half price under Octopus. I don't have the half hour pricing data so I can't calculate what those savings might be.

 

Still, I like that Octopus is bringing a bit more competition to the market. No other retailer has come anywhere close to EK's pricing for our specific circumstances.




liquidcore
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  #2961338 30-Aug-2022 22:33
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The other thing of note is that Octopus has increased their off-peak price from when they first went live.

My off-peak rate is currently $0.142945 /kWh (incl GST) and now it is $0.16537 /kWh (incl GST) when I put my address into their website like I’m signing up again.

People that signed up when they first launched will be saving a little bit more as I believe the rates are locked for 12 months - not sure of the full terms and conditions and haven’t bothered to look.

timmmay

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  #2961353 31-Aug-2022 07:15
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Wheelbarrow01:

 

Yea I went over a few previous bills to do the same EK/Octopus comparison. Not to the level of detail you did, but I came out with a similar result - the savings seemed minimal.

 

We switched to EK Move Master a few months ago, and at the same time, we started switching the water heating off outside of the overnight off-peak period. These two changes halved our bill overnight. Our bill is now around $70 a fortnight. Currently we use the hour of power at 11pm when the water heating is switched on and we run the dishwasher at the same time when required. We have a log burner so our winter bill is essentially the same as summer.

 

What I didn't factor in is that Octopus is off-peak all weekend whereas EK is not. So weekend evening meal cooking would effectively be half price under Octopus. I don't have the half hour pricing data so I can't calculate what those savings might be.

 

Still, I like that Octopus is bringing a bit more competition to the market. No other retailer has come anywhere close to EK's pricing for our specific circumstances.

 

 

We automated hot water timing back when we were with Flick, maybe 5 years ago now. We run the hot water for an hour in the afternoons, during free hour, and a bit of time during the half price. I'd say we probably save about $1 per day, so the $500 cost of setting up the timer has more than been paid for.

 

I factored in the no peak power price on the weekend with Octopus. That probably made up somewhat for the loss of free hour of power, but not enough to make it worthwhile.




vexxxboy
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  #2961356 31-Aug-2022 07:26
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that is interesting as i was looking at moving to Electric Kiwi from Pulse  but with Pulse my bill for the year was $3240 for a family of 5 adults , so it might not be worth it .





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timmmay

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  #2961357 31-Aug-2022 07:33
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vexxxboy:

 

that is interesting as i was looking at moving to Electric Kiwi from Pulse  but with Pulse my bill for the year was $3240 for a family of 5 adults , so it might not be worth it .

 

 

I guess that depends what Pulse charges. Both Octopus and EK MoveMaster are good deals. If I was starting out from scratch I'd probably go Octopus, less hassle to try to maximise use of one hour a day.


Ge0rge
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  #2961439 31-Aug-2022 09:30
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I had another look last night, and changing to Octopus from Powershop, without doing any management of time of use, would have saved us just under $30 last month.

Timer for the hot water, and moving a couple of easy things like washing and dishwasher will only increase that, so making it happen.

Interestingly, Octopus will give us $0.17 for solar, which is more than their night rate - so it makes sense for us to use as little as possible during the day, export as much as we can, and then use power overnight.

@Liquidcore The rates must be regional, as Octopus are showing $0.15 for off-peak (incl gst).

timmmay

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  #2961449 31-Aug-2022 09:48
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Ge0rge: Interestingly, Octopus will give us $0.17 for solar, which is more than their night rate - so it makes sense for us to use as little as possible during the day, export as much as we can, and then use power overnight.

 

If you could export power at night you'd be doing well ;)


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