Recording of Thursday, June 20, 2024 | The smarter E Europe | Exhibition Program | Language: English | Duration: 14:31 .
The discussion focuses on the importance of smart tariffs in managing energy consumption and production amid the ongoing energy transition. Central to this transition is electrification, where devices like heat pumps, electric vehicles (EVs), and photovoltaic systems (PVs) alter household energy usage patterns significantly. The traditional load profile—where most energy is consumed post-work hours—will evolve due to these changes. Smart tariffs help manage new loads on the system by balancing flexible consumption with renewable production such as solar and wind power. Octopus Energy has developed several innovative solutions: 1. Fan Club: This initiative involves local wind turbines offering reduced rates when operational, encouraging users to shift their consumption during high wind periods. 2. Saving Sessions: Primarily active in Great Britain, customers are incentivized to reduce usage during peak times or low renewable output periods through financial rewards. 3. Octopus Heat: A special tariff for heat pumps that shifts around 45% of their operation to off-peak times without sacrificing efficiency. These methods aim not only at reducing costs but also at increasing acceptance of local renewable installations and avoiding inefficient fossil fuel use for balancing electricity demand peaks.
Automated summarization by AI Conver
By embracing digital transformation and innovative business models, utilities elevate to becoming indispensable energy partners, driving growth, and shaping the future of energy. This session will provide you with insights into how technology and digitalization is changing the game for utility companies. Discover how new products and business models help utilities grow, and transition from service providers to trusted advisors. Explore the future of interconnected, customer-empowered, and sustainable utilities!
Further Talks of this session: