Are you ready for Time Of Use (TOU) tariffs?


Time Of Use (TOU) tariffs are set to hit the market next year as smart meters are installed.

Are you ready for the changes?

Did you know your electricity price is soon to become a 'tracker' type tariff much like tracker mortgages.  Electricity prices vary throughout the day depending on many factors including intermittent renewable energy supply, fossil fuel prices, grid capacity and generator availability.

As smart meters are due to be rolled out nationwide in Ireland from 2015 onwards, homes and businesses need to be prepared to see what energy demand they can shift to cheaper times (in Ireland this will likely be when it is windy at wind turbine locations).

We discussed "smartable demand" recently, and this is when utilising smartable demand will show significant energy savings and cost reductions.  It is likely that set tariffs will remain but will cost significantly more as the risk of price variances shifts from the customer to the supplier.

That's a whistle stop tour of TOU billing but to find out more, visit the Irish Commission for Energy Regulation (CER) who are to oversee the rollout (https://www.cer.ie/).

Don't ignore the elephant in the room!