Loop, the smart meter app, has launched its Turn Down and Save scheme as part of the National Grid’s recently announced Demand Flexibility Service (DFS).
Turn Down and Save will reward Loop customers for using less electricity at peak times this winter and could see typical customers earn up to £100 per year. Those with higher average usage during peak times – for example larger households, or because of electric vehicle charging or electric heating – could earn more by shifting usage outside of peak hours.
Households signed up to Turn Down and Save could earn over £100 in Amazon vouchers if they reduce their usage by a target amount.
By reducing load during peak times, fewer expensive electricity generators will be required over that period. Due to the Energy Price Guarantee, this will also provide savings to the government. National Grid saves, Loop customers are rewarded and the Government spends less in support of the Energy Price Guarantee.
‘Turn Down and Save’ is open to anyone with a smart meter - currently 13.9 million households. Crucially, Loop’s initiative will be available to households whose utilities aren’t offering their own DFS scheme. Currently, very few energy suppliers have confirmed participation in the DFS and there are a number who cannot offer it for technical reasons. Even for those households whose supplier is participating, Loop provides an alternative way to get involved as rewards vary by provider.
Dr Steve Buckley, Head of Product and Data Science at Loop, comments “We’re pleased to open up the Demand Flexibility Scheme to millions of bill payers, in particular those who may not have access via their energy supplier.
“We would encourage all eligible households to get involved, as this isn't just about the energy crisis this winter. As homes get smarter – with more large devices able to choose when they use electricity - services like DFS will allow homes to play an increasingly valuable role in balancing supply and demand.
“It’s also an example of how Loop, as a small technology business, can provide valuable services to customers that their utilities can’t or won’t. Every week we sign up thousands of new customers who can’t see their own data because their smart meters or in-home displays aren’t working correctly. This limits their ability to manage their own energy use and control their spending. Standardised and simplified access to personal energy data would unlock innovation in the energy space in the same way as open banking did in financial services. With the backdrop of our net zero targets, this can’t come soon enough, but legislation needs to catch up and quickly.”
