What is Octopus Flux and Why Should You Sign Up?
Published on 24 August 2023
Octopus Energy is making waves in the energy market with their introduction of a tariff that encourages smarter, cleaner and cheaper energy, which will ultimately unlock the full potential of solar and battery energy.
It’s called Intelligent Octopus Flux (IOF) and is designed to empower households with solar panels and battery storage to optimise their energy consumption while keeping costs down and contributing to grid stability and sustainability.
Benefits for Customers
Unlike traditional tariffs, IOF offers a consistent rate for both importing and exporting electricity. It operates with a 21-hour off peak window, which is priced at 10% below Octopus Energy’s standard variable tariff, known as ‘Flexible Octopus’ Additionally, there is a three-hour ‘peak’ window from 4pm to 7pm, allowing customers to make the most of their energy resources.
Customers opting for IOF can anticipate annual savings of more than £450 compared to those on ‘Flexible Octopus’ of the fixed export tariff ‘Octopus Outgoing’.
The only requirement to qualify for this tariff is to have solar panels and eligible batteries installed in the home.
How Does IOF Work?
By harnessing the power of Kraken, Octopus Energy’s proprietary tech platform, IOF is able to optimise the utilisation of a home’s batteries and solar panels. This ensures sufficient use of green electrons when they are abundant and cost-effective.
Prior to Intelligent Octopus Flux, owners of solar panels and batteries had to manually program their systems to charge and discharge. IOF eliminates this hassle, allowing customers to automatically receive the best rates for both the power they use (import) and the power they sell back to the grid (export).
Octopus Energy’s Commitment to Smart Tariffs
Octopus Energy has been leading a revolution in the smart tariff landscape for several years. Their array of smart tariff offerings covers a broad user base of customer needs and energy engagement levels, all aimed at harnessing the advantages of a renewable grid.
Reducing Grid Stress and Costs
The benefits are not purely customer oriented, though. IOF contributes to enhancing grid flexibility by reducing the need for the National Grid to pay renewable energy generators to shut down, or fossil fuel power plants to ramp up during grid stress, IOF helps in lowering energy costs for everyone.
“Octopus Energy continues to unlock a grid system that is green, cheap, and easy for customers. Next-generation smart tariffs like Intelligent Octopus Flux optimise energy tech in people’s homes – passing on savings to customers while stopping the need for dirty fossil fuel plants at peak times.”
“We’ve seen an 80% increase in demand for our smart tariffs since 2022, and everyone benefits. The learnings we get from managing smart tariffs teach us how to run initiatives like ‘Saving Sessions,’ where millions of energy customers were paid to use less energy at ‘dirty’ times.”
Alex Schoch, Head of Flexibility at Octopus Energy Group
Join the Green Energy Revolution
At the moment, Intelligent Octopus Flux is in beta and is initially optimised for use with GivEnergy batteries. However, Octopus Energy plans to integrate more battery brands into the system later this year. Good news, though, the waiting list is now open for those eager to join the revolution!
Which is why at JTD we are encouraging our clients to sign up to Intelligent Octopus Flux.
To learn more about the smart tariff and how it can transform the way you use your solar panels and battery storage for your home energy, visit: https://octopus.energy/smart/flux/
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