Dynamic power tariff: what is it and how does it help you save?

The world of dynamic energy pricing is still unknown to many. Our neighboring countries have been working with it for a while, but recently there has also been more and more talk of dynamic electricity pricing in Belgium. But what exactly are dynamic prices? And how can they help you save on your energy bill?

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What are dynamic prices?

A dynamic power tariff means that energy prices are determined on an hourly basis. This is done based on the prices at the power exchanges where power suppliers purchase energy for the following day.

By working with dynamic pricing, instead of paying a fixed rate, you pay the price in effect at the time you purchase electricity.

How does it help you save on your energy bills?

A dynamic energy bill is almost always lower than a fixed rate. By using energy smarter, end users can reduce their bills even more.

When there is high demand for energy and too little supply, energy prices are high. Which therefore makes it uninteresting to purchase energy at those times.

When there is a surplus of energy because, e.g., there is little consumption or there is a lot of wind and/or solar power being produced then prices are low.

At times when prices are low, it is interesting to charge or turn on large energy consumers such as your electric car, washing machine, and dishwasher. Usually the dynamic rates are known 24 hours in advance, allowing you to adjust your consumption accordingly. That way, you save on your energy bill.

FlexiO responds to dynamic pricing

Do you own a home battery and/or charging station and do dynamic pricing seem quite interesting to you?

Then we introduce you to FlexiO. That's LIFEPOWR's smart controller that's going to optimally control your home battery and charging station so you get the most out of your investment. FlexiO capitalizes on these dynamic prices.

A dynamic contract allows you to actively and fully automatically trade energy, buying and selling energy at the right times. FlexiO will buy energy when prices are lowest or even negative. A negative price means that you are compensated to consume energy and store extra from the grid. Also, FlexiO is going to sell excess energy back to the grid at the best price. This happens completely automatically, so you don't have to worry about it.

So a dynamic power tariff does make sense when combined with FlexiO. This is because you are not limited to saving on your energy bill, but because FlexiO can actually make you money.

Want to know more about what FlexiO can do for you?