Using electricity at off-peak times is better for your wallet and using less power at peak times is better for the planet.
Time-of-use (TOU) electricity rate plans with Octopus Energy are designed to help you save and vary as the cost of generating, transmitting and distributing electricity goes up and down with demand.
Electricity is generally cheaper when demand is low and there’s no need for expensive, carbon intensive types of generation. The cost of transmission and distribution is also lower during these periods because there’s less load on electricity networks.
On TOU plans you pay more for electricity during peak hours, when electricity demand is higher, like in the evening when you get home from work.
To balance these higher electricity prices you pay less during off-peak hours, late at night when people are sleeping and overall demand for electricity is lower, during the afternoons, and all weekend.
TOU rates can help lower your electricity bill, saving you money by adjusting your electricity use like running your dishwasher in the morning instead of after dinner. Or, by charging your electric car overnight.
Octopus energy have three TOU rates:
TOU rates allow you to do some clever things. Here are a few tips and tricks:
Run appliances at Night or Off-peak
Clothes dryers are one of the most energy-hungry household appliances and typically use about $1 of electricity per load. Washing machines, dishwashers, and hot-water cylinders are just as hungry.
Plug in your car at night
Our Night rate is designed specifically for EV owners to plug in and only pay 50% of the peak rate to charge their cars.
If you’ve got an electric bike or lawn mower the same applies. Our night rate is good for charging anything with a battery - at half price!
Turn heaters on earlier
Heaters use the most power when they warm up a house from a cold start. If you set your heaters to do this before the peak time at around 7am, your house will be nice and cosy before you get up, and your heaters won't have to work as hard at the most expensive rate.
Make the most of your afternoons
Because Octopus Energy offer Off-peak power between 11am and 5pm you can watch as much day-time tele as you like. Or do the laundry.
If you shift any energy-intensive tasks to Saturday and Sunday, you can save money on your monthly bill.
Batch cook some meals in the oven to store in the freezer, keep the heating on, do some DIY with power tools or trim the hedge.
Know the times OctopusPeak, Off-peak, and Night rates apply and make the most of your major appliances when energy costs the least.