Green Energy UK, now in its 20th year, was the first energy supplier in the UK to offer residential customers a Time of Use tariff in 2017. Increasing smart meter installations coupled with rising wholesale energy costs created demand for an energy tariff that allowed consumers who change their behaviours, to benefit from low market rates at off-peak times.
The 2020 pandemic has brought into sharp focus, not only the desire for people to have meaningful control over their utility bills – but also the need for us to permanently change our behaviour to help fight climate change in the UK.
As interoperable, second-generation smart meters become widely available to customers it is now quicker and easier to have a smart meter installed which allows customers to take advantage of the TIDE tariff.
In addition, earlier this month, GEUK became a partner in the CrowdCharge/WPD Electric Nation Vehicle to Grid trial. The project seeks to better understand how car batteries can act as energy storage; selling electricity back to the grid when required but ensuring that the consumer’s car is charged and ready to go at the desired time. This automatic buying and selling of electricity, using vehicles as storage, is one element of the future of energy management and supply. Participants will have a free smart meter installed along with access to TIDE rates and qualifying customers can also earn free miles of electricity from GEUK.
Doug Stewart, GEUK’s Chief Executive said:
“Time of Use tariffs have been called for by consumer and environmental groups for some time and as EV sales are rapidly increasing, we are pleased to be able to reintroduce our Tide tariff to the market."
"The maturity of domestic solar generation and the introduction of EVs by mainstream manufacturers presents the opportunity for a different way to buy energy, a different way to manage our usage, a different way of controlling our bills, and a powerful way to truly turn the tide on climate change. It’s a way of being smart in every sense of the word.”
The tariff, named TIDE, demonstrates that as consumers change their behaviour to consume electricity when wholesale prices are at their lowest, they can significantly reduce their energy bills. Avoiding peak times during the day also helps to alleviate pressure across the UK’s energy infrastructure meaning it becomes more efficient – a critical step in the UK’s journey to meeting its net zero targets.
“A Time of Use Tariff is a step into the new world of energy infrastructure; a step which puts consumers in charge, lets them take control and decide when they use energy and what that actually means to their bill. The price of wholesale electricity varies with the time of day, so Green Energy UKs TIDE tariff encourages consumers to vary their usage in line with this and use electricity in periods of lower demand when the price is cheaper. The TIDE tariff offers variable pricing during the day and at weekends, and it offers the opportunity for people to benefit from some of the gains that have been promised by the introduction of smart meters
Doug Stewart added: “There’s no need for customers to feel powerless anymore – both in terms of managing their bills as well as contributing to a greener future. Choosing when you do certain things around the price of the electricity is an obvious way to control your consumption and in turn your bill.”
Visit TIDE to find out more >
For further information
Green Energy UK: www.greenenergyuk.co.uk / twitter @green_energy_UK
Doug Stewart, Green Energy UK: email@example.com / 01920 486156
Paul Taylor (Taylor Keogh Communications firstname.lastname@example.org / 020 8392 8250
Notes to Editors
Green Energy UK is an independent, licenced energy supplier to domestic and business customers throughout England, Scotland and Wales. The company is headquartered in Ware, Hertfordshire.
Green Energy UK was the first energy supplier in the UK to offer 100% renewable “green” gas. A Time of Day tariff allows energy companies to charge different amounts for electricity depending on the time of day and therefore can encourage better energy demand management, lowering energy demand during peak periods and encouraging usage when energy use is typically very low (off peak / overnight).
Customers who have a smart meter and who sign up online to Green Energy UK’s TIDE have access to the lowest electricity rates from midnight to 7am every single night. And if customers can reduce their consumption at peak times between 4pm and 8pm on weekdays they can reduce your bills further.
© 2020 | Green Energy (UK) plc, Black Swan House, 23 Baldock Street, Ware, Herts, SG12 9DH