Electricity tariff based on time of day launched

Hertfordshire-based Green Energy UK has launched a new smart time-of-day tariff that allows customers to gain control of their energy usage and save money.

Believed to be the first tariff to offer residential customers an electricity price based on the time of day, customers who charge their electronic gadgets, wash their clothes and run their dishwashers overnight will pay less for their energy

The average price of electricity in the UK is approximately 14p per unit. Green Energy UK’s new deal will allow customers to pay 4.9p per unit of electricity on weekdays from 11pm - 6am, with the price rising during peak hours (4pm - 7pm) by approximately five times the cost.

Green Energy UK currently has 20,000 customers, with approximately four in 10 of those possessing a smart meter. The government has pledged to fit a smart meter in every home by the end of 2020, although figures suggest that only nine per cent of homes have them installed at present.

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