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Octopus Go – a tariff with a reduced rate for an overnight period, intended for owners of electric vehicles. [46] In March 2019, Octopus announced it had partnered with Amazon's Alexa virtual assistant, to optimise home energy use through the Agile Octopus time-of-use tariff. [47]
It featured a seven-hour night rate some 20 per cent cheaper than most night-time tariffs, made possible by economies in the night-time operation of the system. In more recent years the difference between day and night rates has become smaller, with a reduction of about 33% [2] (though dependent on the supplier). The Economy 7 tariff results in ...
Households across the country were paid to reduce their energy use on Monday night, in the first live session of the Demand Flexibility Service Octopus Energy customers saved up to £9 as they ...
Economy 10 thus requires a special multi-tariff meter, different from an Economy 7 meter. For example, customers in central Scotland (within the Scottish Power Energy Networks DNO area) are on the following times: 3 hours in the afternoon (1.30pm - 4.30pm) 4 hours in the evening (8.30pm - 12.30am) 3 hours in early morning (4.30am - 7.30am)
The business added more than one million customers in the year to the end of last April.
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Historically, rates have been minimal at night because the peak is during the day when all sectors are using electricity. Increased demand requires additional energy generation, which is traditionally provided by less efficient "peaker" plants that cost more to generate electricity than "baseload" plants. [ 7 ]
The average customer was paid £2.50 in special points, which entitles them to rewards, reducing their demand by around 60% on average.