Octopus Energy has introduced its latest smart tariff, the ‘Intelligent Octopus Flux’ (IOF), aimed at helping households maximise the use of their solar panels and batteries while contributing to grid stability.

The tariff offers a flat rate for both importing and exporting electricity, with a 21-hour off-peak window priced 10% below the standard variable tariff, and a three-hour ‘peak’ window between 4 pm and 7 pm.

Customers on IOF can potentially save more than £450 annually compared to other tariffs like ‘Flexible Octopus’ and ‘Octopus Outgoing’.

Alex Schoch, Head of Flexibility at Octopus Energy Group, said: “Next generation smart tariffs like Intelligent Octopus Flux optimise energy tech in people’s homes – passing on savings to customers while stopping the need for dirty fossil fuel plants at peak times.

“We’ve seen an 80% increase in demand for our smart tariffs since 2022, and everyone benefits. The learnings we get from managing smart tariffs teaches us how to run initiatives like ‘Saving Sessions’, where millions of energy customers were paid to use less energy at ‘dirty’ times.”

Article source: https://www.energylivenews.com/2023/07/20/octopus-launches-uks-smartest-tariff-for-solar-panels-and-batteries/