Octopus Energy has increased its export tariffs by 36%, as energy prices in the UK remain at record highs.

As such, its Smart Export Guarantee (SEG) (export only customers) tariff has increased from 3p/kWh to 4.1p/kWh, and its Fixed Outgoing Octopus tariff has increased from 5.5p/kWh to 7.5p/kWh.

The change came into force at midnight on 31 January 2022, and means – according to the company – that it pays customers who export electricity more than any other UK energy supplier.

Rebecca Dibb-Simkin, global marketing and product director at Octopus Energy Group, said they were pleased to be increasing payments for their “brilliant self-generating customers by a whopping 36%”.

“We know the future of energy is ‘people powered’, and benefits a decentralised energy system where increasing numbers of people become generators as well as consumers. This helps the grid become greener, reduce our reliance on imported gas and allows regular households to directly benefit financially.”

When the SEG legislation came into full effect in January 2020, Octopus Energy’s previous 5.5p/kWh tariff rate was the second highest on the market –  Social Energy’s topped the offerings at 5.6p/kWh.

Since then, Social Energy has also launched an export tariff offering 20p/kWh but only for the first 1,000kWh exported per year, with this then dropping to an uncapped rate of 6p/kWh. However, in November Social Energy’s supply side ceased to trade.

Read more: SolarPowerPortal

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