Octopus Energy has introduced ‘Snug Octopus,’ the ‘UK’s first’ smart tariff tailored to traditional electric storage heaters.
This tariff aims to help customers cut heating costs and lower carbon emissions by automating energy usage during the least expensive and most environmentally friendly times.
The new tariff schedules storage heaters to operate for six hours overnight at off-peak rates, with an additional hour in the afternoon.
This approach allows customers to save an average of £140 annually compared to a standard Economy 7 tariff.
The savings apply without the need for additional investments in other low carbon technologies.
Electric storage heaters, used in approximately 1.7 million homes across the UK, store heat overnight when electricity prices are lower.
The heat is then released during the day when prices are higher.
