Type-of-use tariffs

Type-of-use, not time-of-use tariffs!? What a great idea. It has opened my eyes!

Your regular tariff has one price for electricity all the time. But the cost of generating it can vary wildly. Cheap on a sunny Sunday. Expensive when it's gloomy & still.

When the price reflects the changing costs, it’s an incentive to shift your energy use. It’s like taking a later train to avoid the morning peak.

What goes down must come up. Time-of-use tariffs offer low prices but you’re also at the mercy of higher ones. No big deal when you want to run the dishwasher overnight. Try delaying the kid's dinner.

OVO’s product innovation gives you the best of both worlds. Prices vary for your EV charger but are fixed for everything else. Your car fills up at the best time but elsewhere your lifestyle comes first. They say it can save you £200 a year compared to the next best time-of-use tariff from Octopus.

What could a type-of-use tariff do for heat pumps? I’d happily let it decide when to fill my hot water cylinder. I’d be ok if the temperature dropped a smidge at peak times.

What do you think? What would a great heat pump do?

‍