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Some providers (I'm thinking of Octopus in the UK) offer tariffs which are closely linked to wholesale costs. Their "Agile Octopus" tariff has 30-minute pricin
by JosephRedfern 6y ago
Some providers (I'm thinking of Octopus in the UK) offer tariffs which are closely linked to wholesale costs.
Their "Agile Octopus" tariff has 30-minute pricing windows, estimated the previous day. Electricity is cheap in the early hours where there's a surplus, and expensive at dinner time. Idea being you can charge your EV and do your tumble-drying at the cheapest possible time. There has been negative unit pricing in the past, when generation has far exceeded demand (i.e. early hours of the morning on a windy day).
More info here: https://octopus.energy/agile/ https://octopus.energy/agile/
- londons_explore 6y ago> estimated the previous day Real time pricing sounds great, but all the supply and demand effects economists love go away when you delay pricing effects by a day... Why do that?
- JosephRedfern 6y agoI don't disagree that it has downsides, but for your average consumer, having that advance notice is probably quite useful/reassuring when it comes to scheduling car charges and other essentials.