Using a Time-of-Use tariff with Ohme
What is a time-of-use electricity tariff?
Time-of-use tariffs track wholesaler energy prices throughout the day. The price can change every 30 minutes and varies depending on demand. During times of low demand (when fewer people are using electricity), the price will be lower than when demand is high. This is to encourage customers to use energy during times of low demand, to help balance the grid and save some money doing so.
What’s price plunging?
Surplus energy can’t be stored on the grid. So, when supply on the grid is greater than demand (often as a result of renewable energy sources as these are more unpredictable than traditional energy sources), energy suppliers may pay customers to use this energy. This is less common since the recent price cap increase (April ‘22) but we’ll notify you via the Ohme app if drop below 0p so that you can plug in and get #paidtocharge.
How does Ohme help me save?
When you create your account in the Ohme app, you’ll be prompted to select your energy tariff. Ohme then uses this information to find the cheapest and greenest charging times for you, to maximise both your cost and CO2 savings.
How does it work?
There’s plenty of energy on the grid to power homes and a growing fleet of EVs in the UK, but only if that energy is properly managed.
Ohme adjusts energy intake according to peaks and lows in demand. Charging during periods of low demand helps balance the grid and save you money, as energy suppliers generally offer cheaper electricity during off-peak hours.
Simply plug in, turn on a schedule (the longer the charging window, the better), and let Ohme take care of the rest.