Electricity costs have increased – will I be paid more for the export from my microgenerator?
If you have a renewable microgenerator below 50kW in size, the following information will be of interest to you.
There has been no better time to be a renewable energy generator. For the energy generated and used onsite, you will be offsetting approximately 27.74p/unit (based on Power NI’s ‘Best Deal – Monthly Direct Debit with Energy Online’ tariff). A typical 4kW solar panel would produce approximately 3,500 units per year, a potential £970 saving, as of September 2022. However some of your energy is likely to be exported back to the grid. Action Renewables’ aggregate our clients’ export and sell it to the market to achieve the best price.
This year has seen unprecedented increases in the wholesale electricity cost, due to the increase in global gas prices. As the export prices we pay to clients are linked to the wholesale cost, export prices will increase. Payments due to be made in December 2022 are for the export period 1st October 2020 to 30th September 2021 and are still being settled in the wholesale market. Payment for the 2021/22 period will see the largest increase in export in price, this will be paid in December 2023.
Action Renewables reviews its export contracts each year and will continually ensure that clients achieve the best value for their energy related services. This year we received a high volume of export submissions from clients. If you are an existing client and have not made submission yet, it is important that you do so.
However exporting your energy is not the only option. Some renewable generators have expressed an interest in battery storage. This is something Action Renewables can assist you with through our partner ‘The Electric Storage Company’. Battery storage can store your unused energy for a time of the day when you have a demand. Very soon, battery ownership will offer opportunities to trade your energy back to the market.
If you would like to find out more on Battery Storage, please complete the form below: