Ofgem Plans: Smart Meter Customers Face Time-of-Day Pricing

Britons with smart meters could face variable price caps depending on what time of day they use electricity, the government’s energy regulator has said. On Monday, Ofgem announced a consultation on the future of the cap, which could be replaced by a more “dynamic” pricing system featuring “time-of-use dependent unit rates to encourage consumer flexibility.” The regulator said the option was being considered owing to the UK’s energy market shifting towards green technologies and an increased use of heat pumps, solar panels, and electric cars. The flexible price cap is one of three initial options put forward by Ofgem, including introducing a “targeted cap” that could be based on factors such as vulnerability, and introducing flexible, market-based price protections....