Households have been offered Britain’s first “time-of-day” electricity tariff, with prices varying between periods of high and low demand, in a sign of how digital smart meters are opening new ways of managing energy usage. Green Energy UK, an independent energy supplier, will charge five times more for electricity used during the evening peak compared with overnight rates. The company said this would allow customers to save money by charging electronic devices and running appliances such as washing machines when power is cheapest. Businesses already have access to similar time-of-use tariffs but Green Energy’s new service marks the first time that households will be exposed to the varying cost of wholesale electricity at different times of the day.
FT 2nd Jan 2017 read more »