Octopus Agile vs Go vs Regular Tariff: Which One Should You Go With?

we're the master brothers and we're gonna figure out whether it's actually worth switching to octopus agile or octopus go whether you have an electric vehicle or not five minutes later i think we definitely made an error going with but at least we know now so the way that we're going to do this is firstly by looking at the average electricity consumption in the uk and then we're actually going to look at our own personal electricity consumption based on the fact that we have an ev and we've been on octopus agile as well for a few months now so firstly what are octopus agile and go so octopus agile is a variable electricity tariff that changes every half an hour so it's really variable sometimes the prices will even go negative which means that you'll get paid to use electricity yeah it's super rare though and then you have go which between the hours of 12 30 a.m and 4 30 a.m so you have a four hour window the price goes down to five p per kilowatt hour and then during the rest of the day you're fixed between 12 and 15 p per kilowatt hour depending on your region now a couple of important points to note before we get into the analysis if you do decide to switch to either of these tariffs you will need a smart meter so either a smet 2 or a smets1 secure smart meter but if you do switch then octopus energy will install this for free so yeah nothing to worry about really and if you do decide to switch use our link in the description and you'll get 50 pounds off your bill yeah and they use 100 renewable energy so doing a little bit for the planet too all right now for the analysis we're gonna compare the agile go and uk average standard tariff to figure out which one's the cheapest first we're going to look at how much each of these tariffs would cost with the average electricity consumption so just for your average user and as we can see here at around 4am there's a really big dip in electricity consumption and then it comes up around when the day starts stays pretty level then picks up in the evening and stays pretty high until about 10 pm when we overlay the octopus agile average prices you can see that there's a really sharp increase in the rate around when the average consumption begins to increase yeah so if you want to save money with octopus agile you can quite clearly see that you'll need to shift your usage as much as possible outside of these peak pricing times now with the pink line octopus go you can see that you're really doing well during those peak times because the rate just stays flat during the day and if you can switch your heavy usage like dishwasher or laundry machine to the lower price periods overnight then you'll be doing really well i think now even when we add in the uk average standard tariff octopus go is still looking really competitive on the daytime rates and plus it's got those cheaper evening prices so it's looking pretty strong now this graph does not take into consideration the daily standing charge so in order to properly compare these different tariffs we'll need to consider the actual cost of consumption combined with the daily standing charge now if you're enjoying the video so far be sure to give us a thumbs up and consider subscribing it'll really help us as we continue to grow our channel now let's get back into the analysis this graph shows the daily cost of electricity based on your average london household which shouldn't be too different from the uk given that it's based off of thousands of households over three years yeah like over 160 million rows of data we've summarized for this and you can find out more information about the data sets in the description if you would like to now the first line the green line is the daily cost for the average uk standard tariff which is at 14.4 p per kilowatt hour and a standing charge of 20.58 p and that data is according to uk power dot co dot uk so the average daily cost ends up being about 1 pound 67 based on that average usage the pink line is the average daily cost with octopus go so that's 14p on average per kilowatt hour during the day and then between 12 30 am and 4 30 a.m you get that 5p per kilowatt hour and then you have the standing charge of 25p and that brings the daily cost to around one pound 58. yes so quite a lot cheaper than your average uk standard tariff and these two lines are straight because the average consumption is the same every day because it's just the average so if your consumption is the same every day at the same times then your cost will be the same every day so that's why both of these lines are straight looking at the agile price now with the standing charge of 21p per day you can see that the price does vary quite a bit but in general it does tend to be quite high yeah and that overall high looking price does carry through to the average which ends up being one pound 72 per day so yeah it's more expensive than both the average uk standard tariff and definitely more expensive than octopus go and the way that we calculated this was by comparing each half hour of consumption to the price at that half an hour time slot so yeah it is a fair comparison now if we extrapolate those costs over the course of a year it'll be about 630 pounds for agile 610 pounds for the uk average standard tariff and about 580 pounds for octopus go yeah so go does seem like a really good option these numbers are for average users though so it will vary based on your location and your own personal electricity consumption another important thing to consider for a lot of people is how much it's going to cost you to charge your electric car yeah so we couldn't find a uk data set on electric car charging at home so we decided to use our own electricity consumption over the last six months now for some context we got our tesla back in december 2020 so we've had it for about four or five months now so we've got four or five months of charging data and you'll be able to see that in our electricity consumption we also tried to shift our electricity usage to the optimal agile time so whenever the electricity was cheapest that's when we'd start our dishwasher and our washing machine anything like that just to save as much money as we could so first let's take a look at how much it would have cost if we were on the uk average standard tariff since this tariff is fixed at all times you can see that our consumption went up massively when we got the tesla in early december as a result our average daily cost was four pounds 32 which would be around about 1577 pounds per year we use a lot of elections yeah but it's all renewable so it's okay exactly conscious is clear now looking at agile you can tell that in general our daily cost was lower than it would have been if we were on the standard tariff and that's pretty much because we were optimizing our usage for those cheaper agile times so overall our average daily cost was 3 pounds 95 and over the course of the year that would be 1 400 pounds so not cheap but a bit cheaper than the average standard uk prices yeah i mean it's not bad but now for octopus go i mean look at that it managed to stay below both agile and the uk standard tariff even when we are optimizing our usage for agile yeah that is crazy it's almost a bit annoying because we did spend quite a bit of time just looking back and like trying to really optimize for agile but in the end go was the way to go yeah and like with octopus agile you're constantly having to look at the prices to see when is the best time to do it uh when should i start the washing machine uh now i have to calculate the time between these two times like every single day whereas with go you know it's at 12 30 so you can it's just like it's just easier and octopus goes just ended up being so much cheaper so what is it like three pounds 68 per day yeah i think they just hooked us in with that idea of negative rates but that's only happened like twice in six months so yeah don't go with agile thinking that you'll get paid to use electricity because it just doesn't happen that often and even the low rates don't offset the peaks in the rates that you get yeah and like you're also having to constantly think about when you're using electricity and for a lot of people that doesn't work like a lot of the time especially for us you have to use electricity during those peak times you can't just not use as much electricity during that so yeah basically to sum it all up octopus go is a great option to go for whether or not you have an electric vehicle yeah and if you do you can really take advantage of that 12 30 a.m to 4 30 a.m cheaper rates so for any consumption habit goes the way to go so remember if you want to switch to octopus energy use the link in our description for 50 pounds off your bill that's about how many days of free electricity 30 days no with uk average consumption we use way too much also be sure to like and subscribe if you enjoyed the video and that's all from the master brothers we'll catch you on the sorry i felt like that wasn't right okay yeah don't say if you enjoyed the video oh okay maybe yeah yeah if you enjoyed the video be sure to like and subscribe but for now that's all from the master brothers we'll catch you on the flippity flip it was too it's way too quick so if you guys enjoyed the video be sure to like and subscribe it really helps build the channel but for now that's all from the master brothers we'll catch you on the flippity flip that was awful i think let's just do it again

Channel: The Master Brothers

Views: 7,796

Keywords: best uk home electricity tariff, electricity tarrif, best electricity tariff uk, octopus energy, electricity prices uk, electricity tariff, ev electricity tariff comparison, octopus energy ev tariff, shell energy ev tariff, british gas ev tariff, best home ev charger uk, ev tariff, octopus agile, octopus go, octopus agile vs octopus go, is octopus agile worth it, is octopus go worth it

Id: tVOoJKwMZ3Q

Length: 9min 46sec (586 seconds)

Published: Fri Apr 30 2021