Time of Use Variable Unit Price Cap?

MeteredOut

Surprised no-one else has posted this

"Domestic energy prices could be capped based on the time of day that households use their appliances, the regulator Ofgem has said."

https://www.bbc.co.uk/news/business-68655725

MattMattMattUK

I read it earlier, but thought that regardless of what is being reported we are many years away from that yet, the tantrums people would have would mean it was no politically viable. 

MeteredOut

I suspect it will end up this way, and have always said smart meters are the enabler for this, and those that refuse them will end up paying more than those that embrace them. We're already seeing that through those that pro-actively manage their usage, and I think TOU tariffs will eventually be the default, rather than by choice.

pete-20-11

I read it and thought would the average person understand any of that article. 🫤


I should add, even I wasn't quite sure what it said other than things might change. And I've used smart tariffs and took part in saving sessions. 

born_again

I hope it gets pushed forward. 

bristolleedsfan

born_again said:

I hope it gets pushed forward. 

When wholesale prices go the other way, virtually nobody wants time of use tariffs.

Posted by Octopus Chief on 23 December 2023. (X)

Thanks to wind, "tens of thousands" of Customers on

@OctopusEnergy

Agile tariff are getting paid for 8 hours of usage tomorrow… 

Spoonie_Turtle

One much-missed member would be saying it's the default in some European countries already.  I think it might also be in Canada too (but not 100% sure).

Gerry1

Welcome to Surge Pricing !

https://www.msn.com/en-us/money/personalfinance/smart-meter-customers-face-time-of-day-charging-plan/ar-BB1kuYYB

MeteredOut

The media doing what the media do

"Millions of households with smart meters face paying more for their electricity at the busiest times of day under plans by the energy watchdog. "

instead of

"Millions of households with smart meters could pay less for their electricity at the quietest times of day under plans by the energy watchdog. 

Ho hum. Expecting a new raft of "how do i get rid of my smart meter" posts on here now.

bristolleedsfan

MeteredOut said:

The media doing what the media do

"Millions of households with smart meters face paying more for their electricity at the busiest times of day under plans by the energy watchdog. "

instead of

"Millions of households with smart meters could pay less for their electricity at the quietest times of day under plans by the energy watchdog. 

Ho hum.

Which quote is most likely to apply to hard working person(s) out all day at work with a family ?

MeteredOut

bristolleedsfan said:

MeteredOut said:

The media doing what the media do

"Millions of households with smart meters face paying more for their electricity at the busiest times of day under plans by the energy watchdog. "

instead of

"Millions of households with smart meters could pay less for their electricity at the quietest times of day under plans by the energy watchdog. 

Ho hum.

Which quote is most likely to apply to hard working person(s) out all day at work with a family ?

"hard working family" - another line loved by the media (and politicians) to try to skew what's actually being said.

But, I'll play. What about hard-working people who are at home? What about lazy people who are out all day - do they pay more?

Are you suggesting we have some method of determining who is hard working and then change the time of use tariffs based on that assessment? 

I suspect what we'll end up with initially is a lower price cap for overnight, to encourage load-shifting, with a higher day-time price cap, but we're likely years away from that actually being enforced. Ultimately, there could be surge pricing at peak times.

I'm a believer that people need to take responsibility for their consumption of resources.