The energy company I’m with in the UK offers this type of dynamic pricing. I’m not on that tariff, but the setup is a great idea.
The pitch is that they give you notice , sometimes half hour sometimes more, of price shifts. Then you can chose to maybe do you laundry later or sooner depending what’s going to be better. One of their use cases is even to have a rig where an electric car battery can supply energy to the house. You charge your car when power is cheap / free, run your home from the car’s battery when it gets high.
They even have an API that some people use to automate tasks to take advantage of the price shifts.
Done well it’s excellent, but definitely needs an ethical mindset behind it. Fortunately in the UK, Octopus Energy is nothing if not ethical, but they are very much notable by this difference!
I disagree. You need dynamic pricing but it needs to be manageable. Let’s say you start a cycle on the washing machine then a few minutes in the price suddenly jumps to an extreme high - that’s not manageable.
Giving users some warning throughout the day of price shifts actually meets the point of dynamic pricing better, too. The point is to get more power used when there is excess and less when supply is struggling. That doesn’t happen if people don’t get the chance to plan, even if that planning is only 30 minutes notice.