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Smart meter customers pocket extra cash this winter through ‘Beat the Peak’ scheme

Posted February 19, 2024
  • Top 5% of 'Beat the Peak' participants earned £51.80 on average[i]
  • Customers saved 23 tonnes of carbon, the equivalent of driving 57,500 miles in a petrol car
  • EDF is inviting customers to get a smart meter to be part of future ‘Beat the Peak’ schemes, saving cash and carbon

Smart meter customers are earning extra cash this winter through EDF’s ‘Beat the Peak’ scheme.

Over 139,000 households have taken part in this year’s scheme so far, with customers who have participated in all nine events earning on average £12.56. The top 20% of those have earnt £30.40 on average, the top 5% £51.80[ii], and additionally, the top earner has so far achieved £228.

Over 11,000 prepayment customers have taken part in the scheme, with those taking part in all events earning £12.03 on average, with over £46,000 paid out to prepayment meter customers so far this winter.

As well as reaping the financial benefits, EDF customers have made an environmental impact by saving 23 tonnes of carbon by avoiding use during peak times, the equivalent of driving 57,500 miles in a petrol car[iii].

In its second year, ‘Beat the Peak’ offers eligible customers the chance to earn credit on their account for reducing their electricity usage during the events organised by National Grid ESO during peak hours. Using smart meter data, EDF then compares how much electricity customers have reduced by and credits their account.

A few small changes can quickly add up:

  • Stop showering during peak times: showering outside peak times could earn between £5.24 and £7.88[iv]
  • Put the washing machines on later: Waiting to turn the washing machine on could earn between £3.00 and £7.20[v]
  • Don't use the tumbler dryer at peak times: Delaying tumble drying could earn customers between £3.38 and £5.63[vi]

Philippe Commaret, Managing Director for Customers at EDF commented: “At EDF we are committed to helping our customers identify the best ways to save cash and carbon in their homes. With ‘Beat the Peak’ many of our smart meter customers are seeing the benefit of reducing their energy usage during peak hours to earn themselves a credit on their bill, as well as saving carbon and helping to reduce pressure on the grid.

“By installing a smart meter, customers can access a range of benefits, such as better understanding their energy consumption so they can make small changes to reduce their bills and carbon footprint, as well as accessing smart tariffs and demand flexibility schemes to earn them some extra cash.”

Getting a smart meter installed is simple, with no upfront extra cost for the meter or for the in-home display it comes with. Readings will be taken automatically, and if customers choose for these to be sent every 30 minutes, they can then access a personalised view of their energy use in EDF’s exclusive Energy Hub platform.

EDF has found that customers who are using Energy Hub to understand their usage are able to actively reduce their bills by up to £41[vii] a year as well as helping to cut their carbon footprint.

Energy Hub is accessible via MyAccount online or via the EDF app. Find out more or book your smart meter installation here: https://www.edfenergy.com/smart-meters


For more information contact:

media@edfenergy.com


Notes to Editors:

[i] Top 5% of customers who have participated in all nine events so far have saved £51.80 on average.

[ii] Top 20% of customers who have participated in all nine events so far have saved on average £30.40 with 5% of customers who have participated in all nine events so far saving £51.80 on average.

[iv] Source: https://www.nea.org.uk/wp-content/uploads/2022/03/Electricity-Consumption-Around-the-Home.pdf  £100 (£97.02) (inclusive of VAT) calculated assuming there will be six Beat the Peak events priced at £3/kWh and using the average of the following figures:15-minute use of electric shower 1.75 kWh (£5.25) – 2.625 kWh (£7.88)

[v] Source: https://www.nea.org.uk/wp-content/uploads/2022/03/Electricity-Consumption-Around-the-Home.pdf 1-hour washing machine cycle 1 kWh (£3) – 2.4 kWh (£7.20)

[vi] Source: https://www.nea.org.uk/wp-content/uploads/2022/03/Electricity-Consumption-Around-the-Home.pdf 45-minute tumble dryer cycle 1.125 kWh (£3.38) – 1.875 kWh (£5.63)

[vii] Save around £41 with Energy Hub. Savings estimated on a sample of 2000 customers who started using Energy Hub between January 2022 and March 2022 and logged in 5+ times between April 2022-April 2023. Costs based on Ofgem's typical annual consumption positioned against projected Standard (Variable) consumption costs of October 2023 to September 2024. Ofgem estimates the typical household in Britain uses 2,700kWh of electricity, 11,500kWh of gas.

About EDF

EDF is helping Britain achieve Net Zero by leading the transition to a cleaner, low emission, electric future and tackling climate change. It is the UK’s largest producer of low-carbon electricity(1) and supplies millions of customers with electricity and gas.

It generates low carbon electricity from five nuclear power stations and more than thirty onshore wind farms and two offshore wind farms.

EDF is leading the UK's nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C, and there are advanced plans for a replica at Sizewell C in Suffolk. Hinkley Point C and Sizewell C will provide low carbon electricity to meet 14% of UK demand and power around 12 million homes.

EDF is one of the UK’s largest investors in renewables, with more than 1GW of renewable generation in operation and over 5GW in construction, planning and development across a range of technologies including onshore and offshore wind, solar and battery storage. We are constructing our largest offshore wind farm in Britain – the 450 MW Neart na Gaoithe project in Scotland.

EDF is helping its customers, both in business and at home, take their first steps to sustainably powering their lives. Whether it is buying an electric car, generating and storing electricity, selling energy back to the grid or installing a heat pump. EDF is one of the largest suppliers to British business and a leading supplier of innovative energy solutions that are helping businesses become more energy independent. In addition, the company’s energy services business, Dalkia, is one of the largest technical service providers in the UK and Ireland.

EDF is part of EDF Group, the world’s biggest electricity generator. In the UK, the company employs around 14,000 people at locations across England, Scotland, Wales and Ireland.

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