In a major move for small and medium-sized enterprises, Octopus Energy has launched a groundbreaking new energy tariff that changes prices every half-hour. Dubbed 'Shape Shifters: Agile', this initiative is a UK first, designed to significantly reduce energy bills for businesses by aligning costs with real-time energy rates.
How the Agile Tariff Works
The smart tariff operates on a dynamic pricing model. Energy prices are updated every 30 minutes to reflect the current market conditions, which are influenced by supply and demand. This means businesses can capitalise on periods when electricity is at its cheapest and greenest.
Customers subscribed to the plan gain access to a dedicated online portal where they can view the next day's pricing schedule. This foresight allows them to plan their operations strategically, shifting high-energy activities away from the typical peak hours of 4 pm to 7 pm. By doing so, businesses can unlock savings of over 25%, potentially pocketing thousands of pounds annually.
Proven Success and Business Impact
This new offering builds upon the success of its sister tariff, 'Shape Shifters: Trio', which provides three distinct price points for night, day, and peak usage. The Trio model has already demonstrated remarkable results, helping some participating businesses shift up to 98% of their peak-time energy use into cheaper periods.
Zoisa North-Bond, CEO of Octopus Energy for Business, commented on the launch, stating, "Many businesses are struggling with energy costs and are keen to use energy outside peak times to save money." She added that the company is proud to unlock further opportunities for SMEs to access more affordable and sustainable power.
The real-world benefits are already being felt. Parmjit, the owner of 'Milton Chippy' in Stoke-on-Trent, took part in the trial. "Shape Shifters Agile has been a real boost for us," he said. "By shifting prep times and being smarter about what we switch on and when, we’ve already saved hundreds of pounds. It's super simple and keeps the deep fryers running without frying our budget."
A Greener, More Cost-Effective Future
The introduction of the Agile tariff represents a significant step forward in energy innovation for the UK's business sector. It not only provides a direct financial advantage for SMEs but also encourages energy consumption during times when the grid is relying more on renewable sources. This dual benefit of cost savings and environmental support is poised to help businesses thrive while contributing to a greener national infrastructure.
