Energy company promises to pay customers to use el

Michaelw

A small energy company has launched a new tariff that will potentially pay customers to use its electricity when demand is low.
Octopus Energy’s new Agile tariff tracks wholesale electricity prices, allowing customers to take advantage if there is an excess of supply and the electricity price “goes negative”.


To sign up, customers must have a smart meter and agree to moveable pricing. Gas is charged in the conventional way.



More worryingly


When demand exceeds supply and the wholesale price rises, users will be charged the higher price. The company has capped the maximum amount customers can be charged at 35p/kWh – about three times its standard electricity price.



https://www.theguardian.com/money/2018/feb/22/energy-company-promises-to-pay-customer-to-use-electricity

molerat

Old news
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