Octopus Plunge History

A unique benefit of electricity pricing tied to the wholesale price is that these prices can go negative. This means you'll get paid for electricity consumed, which will actually reduce your bills!

Unit pricing tends to be lower when there is high supply, for instance during a particularly windy day or on a day with high solar generation. When this happens at the same time as a period of low demand (e.g. night-time, weekends or bank holidays) this can result in negative, or "Plunge" prices.

Most Recent 23 Dec 2024 (3 days ago)
This Month 10 hours
This Year 190 hours
Last Year 134 hours
Record Rate -19.4p on 02 Jul 2023 (543 days ago)

Trend

Plunge pricing events are becoming more frequent due to the growing reliance on renewable energy, particularly wind and solar. These sources can overproduce during periods of low demand, causing negative wholesale electricity prices. Limited grid storage and the need to balance supply and demand drive such incentives.

Heatmaps

This Year
2023
Prior Years

These rates represent the average across the entire country. To see the most accurate values, please choose your region:

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