Time of use tariffs will soon be offered to millions of households

Millions of households across the country could soon be offered electricity tariffs with prices that change every half hour.

Under new powers that will be granted to energy regulator Ofgem in May, smart meters will automatically send usage information to suppliers every 30 minutes. Suppliers could then use this information to charge consumers more during peak times. However, at the moment, customers will have to ‘opt in’ to share this data.

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