Smart Meters: Dominic Littlewood offers advice to reduce bills
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The National Grid ESO (Electricity System Operator) has created a scheme to reward people for using power during off-peak times. Consumers could get a rebate of up to £6 per kWh saved, which could add up to hundreds of pounds a year.
The grid will seek approval from Ofgem with hopes to launch the scheme in late October, reports the Sunday Times.
A pilot version of the project took place in February and March, with 105,000 Octopus Energy customers turning down their appliances for two hours.
Octopus used the household’s average consumption for the previous four weeks as a baseline.
Customers who dropped their consumption by 30 to 40 percent received 22.7p for every kWh saved.
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A report on the results found that consumers could save the most between 4.30pm and 6.30pm.
Express.co.uk recently spoke to industry experts about the potential savings from using off-peak energy.
Tariffs such as Economy 7 and Economy 10 allow customers to get reduced rates, by using energy at quieter times of the day.
Ava Kelly, from Love Energy Savings, told Express.co.uk: “Off-peak tariffs provide a great opportunity to make savings on your energy bills.
“Thanks to modern technology, there are ways that you can control devices in your home to ensure the running costs are kept to an absolute minimum.
“By using delayed timers on appliances such as washing machines, tumble dryers, and dishwashers, you can cut the cost of running those appliances by ensuring they start up during off-peak hours.
“Timer plugs can also assist, with things like lamps coming on to create a cosy atmosphere in the evening, but ensuring that peak energy hours have been avoided.”
Switching to off-peak times can also save a lot of money for people with electric vehicles.
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Plugging in a vehicle after 10pm means a household will benefit from the cheapest tariffs.
Ms Kelly said: “Get into the habit of ensuring you’re running devices at the cheapest times and you’ll see a big impact on your energy bill.
“Off-peak tariffs are particularly useful for those who charge an electric vehicle at night or have storage heaters.
“Off-peak times vary slightly depending on the supplier, but they are usually between 10pm and 8am.
“This is when the least energy is taken from the grid and so energy suppliers can afford to offer cheaper prices.
“Energy used during off peak hours is roughly half the cost as during peak hours so expect to see huge savings if you begin to utilise off-peak hours as much as possible.”
Running a standard washing machine costs around £24 a year, which can go down to £12 a year on an Economy 7 or Economy 10 tariff.
Ofgem has also announced it will now update the energy price cap every three months rather than six, with bills set to spike again going into 2023.
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