Octopus saving sessions coming 1st Nov

[Stinsy]

I reduced overall energy consumption by 0.239 kWh compared to normal, earning you 144 octopoints. (That's £0.18)


Annoyingly in the email from Octopus it says "you reduced power by 0.239kWh".

ARGH!

Ha ha. I think that expecting marketing folk to understand the difference between power and energy is unrealistic…

[nowty]

A possible session today, bids are being invited , but I think unlikely though.

[nowty]

A possible session today, bids are being invited , but I think unlikely though.

Octopus 25p / kWh bid was rejected , although some other bids around 15p to 20p / kWh were accepted.

[dan_b]

Trying to understand on what basis bids get accepted or not.

Is it a national demand reduction, or is NESO more interested in demand reduction in specific constrained areas? Does Octopus have too many customers opted in - ie too much potential demand reduction? Or is there an issue with the forecast reductions they say they can offer don't match up with reality?

Can't make head nor tail of it.

[SimonSays]

Hopefully Octopus have, or shortly will, worked out the correlation between loss of load probability or margin and accepted price.

[nowty]

Trying to understand on what basis bids get accepted or not.

Is it a national demand reduction, or is NESO more interested in demand reduction in specific constrained areas? Does Octopus have too many customers opted in - ie too much potential demand reduction? Or is there an issue with the forecast reductions they say they can offer don't match up with reality?

Can't make head nor tail of it.

Octopus has said not only the price will be lower (on a par with gas generation costs at peak period), they have also stated that the volumes they want is less. So I think if say Octopus had bid equal lowest, then ALL bids today would have likely to have been rejected unless the bid was so low it was at a discount to the gas generation price.

Today there is no shortage of generation with forecasted 6GW of surplus.

[nowty]

Wholesale price during todays Peak has been around 13p / kWh so the DFS has paid a small premium to the successful bidders at between 15p and 20p / kWh.

I would not be surprised if there is another one tomorrow, conditions look similar.

[Tinbum]

Possibility today

[nowty]

Octopus rejected again they always seem to bid 25p / kWh.
Only one company bidding 15p / kWh was accepted.

Might be better conditions early next week.

[Moxi]

Maybe 25p is their entrenched position on this and they are trying to make a point ?

Moxi