The price of electricity changes at half-hourly intervals throughout the day, depending on how much of what is produced is actually consumed. Householders don’t notice the half-hourly price swings because the cost of electricity supplied to them is averaged out. With some additional margin for the electricity supplier, of course.
Most British electricity is subject to this cosy arrangement, but some is traded on the open market, and that is where a new company, Tempus Energy, plans to come in – buying the electricity at the half-hourly rates and passing those on to customers. It will advise them how to make the best use of the cheapest periods and avoid the most expensive ones and will install special equipment enabling it to switch their heating, fridges, washing machines and dishwashers on and off according to the actual electricity price.
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