During the summer I import approx 3 kWh per day and generate 18 kWh per day, but my imported electricity cost is higher than my feed-in tariff. Can I sell electricity to Bulb at a higher rate than the feed-in tariff? Or can I sell electricity to my neighbours?
Hi @dovergs and welcome to our Community
We do have our export tariff which we pay at a rate of 5.38p per kWh. Which I believe is higher than some later feed-in tariff prices.
Here is the link: Export Payments | Bulb
With regards to selling to your neighbours, I don’t think this would be possible. However, perhaps in your situation it may be worth investing in a battery. This would mean you could store what you don’t use instead of exporting back to the grid.
Here is a link to a thread by Kit who is Head of Batteries at Bulb: Product Input: Help us shine a light on batteries
There is also a link in this thread where you can sign up to the latest updates on batteries
My feed-in tarrif is 5.38p/kWh, but the generation tariff is only 0.15p/kWh - although it is hardly worth having it does mean that my overall tariff is higher than Bulb. Unfortunately the EPC was dated after the solar panel installation/commissioning, otherwise the generation tariff would have been 3.79p/kWh.
What surprises me is that the feed-in tariff is so much lower than the cost of purchasing electricity - 5.38p/kWh vs 13.56p kWh, excluding the standing charge - I have always assumed that the standing charge is intended to cover the company’s overheads. But if I feed in electricity and my neighbour buys electricity the costs to the electricity company (assuming that they are the same company) is minimal but the profit is quite large. So a company that is able to net off feed-in vs sales and then pay the person supplying the feed-in a little more could do pretty well.
@dovergs It’s an interesting discussion and clearly with the increasing normality of in home generation, and the emergence of batteries, the relationship between supplier and consumer will change.
The Feed In Tariff pays you a generation fee for all kwh generated. There is then also the export tariff aspect which pays for any generated kwh you don’t use and export back to the grid. This also then leads to lower bills as your imports from the grid are lower. The FIT rates were set at different points in the scheme’s cycle to reflect the costs of renewable installation for example and the rate was set by the government.
In terms of our costs and how much per customer we make as profit, it may be useful to check out Ofgem’s breakdown of a typical energy bill, showing how small the proportion of profit is for each member. The pie charts here are particularly helpful.
You mean the FIT export tariff is 5.38p/kWh, I think (and it went up to 5.5p/kWh for you on 1st April).
The export rate is usually deemed to be at 50% of what you actually generate, unless you have an export meter (when you’ll get the rate for the actual export).
Just put any electricity you don’t want in a wet paper bag and I’ll take it.
@Bulberino I’m not endorsing this, but if I were to I’d advise a dry bag instead Just thinking about the water, electricity combination
Only wet on the inside.