A NEW AND BETTER WAY TO CONTROL HOME ENERGY BILLS

05 January 2017

GREEN ENERGY UK OFFERS TIME OF DAY TARIFF TO RESIDENTIAL CUSTOMERS

Against the backdrop of rising wholesale energy prices, Green Energy UK is looking to the future by offering residential electricity customers a Time of Day Tariff (aka Time of Use). Green Energy UK is the first energy supplier in the UK to offer residential customers a Time of Day Tariff. The new tariff, to be launched in January 2017, will give customers more control over their energy bills.

Green Energy UK which has been supplying energy to customers for over 15 years, is using the latest smart meter technology to offer residential customers the electricity tariff. The offer of a Time of Day tariff has been called for by consumer and environmental groups but until now had not been introduced by any residential energy supplier in the UK.

Doug Stewart, Green Energy UK’s Chief Executive said: “The introduction of smart metering presents the opportunity for a different way to buy energy, a different way to manage our usage, a different way of controlling our bills; a way of being smart in every sense of the word.”

“Our new tariff is called TIDE and is about being savvy and smart, where being smart is the way customers can bring down their energy bill, not trying to find the cheapest deal with a new-on-the-block-supplier. If we are to learn anything from GB Energy’s failure, it’s that cheapest tariffs are unprofitable and unsustainable.

“The mantra of “switch to the lowest tariff” has done nothing for energy efficiency and encourages higher use by those who can’t necessarily afford it.

“The introduction of a Time of Day Tariff is the first 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 means to their bill.”

The price of wholesale electricity varies with the time of day, so Green Energy’s 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. 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.”

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