Piggybank News

November 30, 2011

The best Feed in Tariff in the UK?

What is a Feed-In Tariff?

Feed-In Tariffs (FITs) are a way for people to save money — or make money — by generating their own electricity at home, using technology like solar panels or wind turbines.

Under the FIT scheme, the customer is paid:

  • For the electricity they generate and use
  • For the electricity they generate but do not use. They sell — or ‘export’ — this electricity to the national grid.

You generate electricity. Your electricity supplier pays you for each unit of electricity you generate and you can use it to power your home. You stay connected to the national grid so that you can buy electricity from your energy supplier in the normal way when you need more power.

Why are the Utility Warehouse claiming that their new Feed-In Tariff is the best?

Quite simply, they will pay their customers more for their electricity than anyone else. Normally FIT customers are paid a set amount determined by the government for each unit of electricity they generate.  UWDC have taken the extraordinary step of announcing that they will pay an extra 2p per unit of electricity on top of the standard rate. That should add up to about £45 a year for an average household — and it’s guaranteed for three years!   You can’t find this deal on their website yet so contact us direct at NSP Resources  if you want to know more.

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3 Comments »

  1. The feed in tariff is a brilliant idea for growing the solar industry but DECC over paid in the beginning and are now only releasing with there sharp cuts.

    Comment by Green Jobs UK (@greengreenjobs) — March 15, 2012 @ 11:00 am | Reply

  2. Update on the above information recieved from Utility Warehouse 25/4/2012

    “Due to recent Government changes to the FIT scheme, we can unfortunately no longer offer all new FIT customers the extra 2p per kWh on the electricity they generate.
    Therefore with immediate effect, this extra 2p will only be available to new customers with ‘Gold Status’, who will receive this benefit for two years from the date their service transfers to The Utility Warehouse.
    Please note that this change does not apply to existing customers already covered by our FIT scheme, who will continue to receive their current uplift irrespective of the number of services they are taking.
    New documentation is available on the extranet and our customer website at http://www.utilitywarehouse.co.uk/energy/feedInTariffs.”

    Comment by nspresources — April 25, 2012 @ 3:02 pm | Reply

  3. II wondered if this feed in tariff still in operation for utility warehouse so I’m grateful for the link.
    Thanks

    Comment by Mal - Short Breaks (@shortbreakstrav) — May 9, 2012 @ 6:22 pm | Reply


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