Green Energy is the first energy supplier in the UK to offer residential customers a Time of Day Tariff, giving customers who drive Electric Vehicles (EV) more control over their electricity bills.
The energy supplier is using the latest smart meter technology to offer the new service, called Time of Day Tariff (TIDE).
Time of Day tariffs have been called for by consumer and environmental groups, but until now have not been introduced by any residential energy supplier in the UK.
Doug Stewart, Green Energy’s chief executive, said: “The introduction of smart metering presents the opportunity for a different way to buy energy, a different way to manage our usage, a different way of controlling our bills; a way of being smart in every sense of the word.
“Our new tariff is about being savvy and smart, where being smart is the way customers can bring down their electric vehicle charging bills, not trying to find the cheapest deal with a new-on-the-block-supplier.
“The introduction of TIDE is the first step into the new world of energy infrastructure; a step which puts consumers in charge, lets them take control and decide when they use energy and what that means to their bill.”
The price of wholesale electricity varies with the time of day, so Green Energy’s TIDE tariff encourages consumers to vary their usage in line with this and use electricity in periods of lower demand when the price is cheaper.