[WizzyWigg]

Originally Posted by geoffers

I bet you check your best value daily items like petrol; groceries etc

👴 Occasionally but certainly not daily. 😂 Life is way too short.

[rwh202]

A bit of a gimmick as far as I can tell. Just a gamble on daily prices.
Unlike the tentacled half hourly where you can actually adjust your behaviour to maximise cheap (I.e efficient and environmentally beneficial) periods.
If I need to charge the car, do a wash, charge home battery, top up the immersion, run the dishwasher, cook dinner etc. then I need to do it today - don’t have too much flexibility. However, I have a lot of flexibility of when IN the day I do those things.
if anything, it will drive the wrong behaviour - yay today is cheap (because surplus of wind overnight), let’s plug the car in at 5 when I get in and add to the gas fuelled peak load…

[geoffers]

Originally Posted by rwh202

A bit of a gimmick as far as I can tell. Just a gamble on daily prices. Unlike the tentacled half hourly where you can actually adjust your behaviour to maximise cheap periods....

Agreed 👍- I doubt if anyone is going to check tomorrow's prices to decide whether to do their washing etc today, if today's cost is cheaper than tomorrow's forecast.

However it does give you a more realistic value tariff than one locked in for a year, presumably based on some forward price calculation from the energy-price futures market.

I've just pulled this year's daily wholesale prices from the Nord Pool N2EX Day-Ahead prices, and calculated how the daily tariff would have worked out using the other supplier's cost formula of Electricity unit charge = (Wholesale Price * 1.2309) + 11.6548 p per kWh

• Over 297 days the average daily tariff worked out as £0.199601 /kWh
• Max = £0.245448
• Min = £0.124253
• There were 173 days where the tariff was greater than the average
• and 124 days when it was less than average

So assuming E.On's flexible tariff works in a similar way, the average you'd pay over the year is somewhat less than their cheapest offering, with the limited flexibility of adjusting it to take advantage of the following day's potentially cheaper electricity (if you can be ar$ed to faff with this - I guess there will always be some who are after a bargain😂)

Average wholesale price = 6.75p; max=10.47p; min=0.63p /kWh