With the now available Hourly-Electricity tariff Tado customers should be able to save up to 35 percent of their annual electricity costs by switching to cost-optimized consumption and hourly billing at the purchase price. With Tado's energy management solutions, households can shift their electricity consumption to hours when wind and solar energy is particularly abundant. At these times, energy prices on the European Electricity Exchange are usually particularly low. If the electricity price is negative due to a surplus of green energy, customers should even be compensated for their consumption. This should enable consumers to significantly reduce their annual energy costs. At the same time, they help ensure that less green electricity from wind and solar power plants goes unused.
Philip Beckmann, CEO of Tado, explains:
"The expansion of renewable energies is leading to increasingly volatile electricity prices throughout the day – and to the advance of hourly dynamic electricity tariffs in Europe. This allows end customers to benefit from price fluctuations for the first time. They are billed precisely on an hourly basis, instead of paying an average electricity price to their energy supplier. Together, we are driving the energy transition forward."
The new offering is available to households in Germany and Austria. It targets users who can flexibly shift the majority of their energy consumption. Various Tado offerings are designed to further support this: For example, the Smart Charging app allows the Munich For example, planning the charging process at the home wallbox so that charging only takes place when energy prices are low.
For the new offering, Tado, through its wholly-owned subsidiary Awattar, purchases electricity on the European Electricity Exchange on an hourly basis and passes the prices, plus grid fees and levies, directly on to customers. Customers receive a monthly electricity bill based on metered consumption, including the grid bill. The Vienna-based startup Awattar was acquired by Tado in early 2022.
