Table of Contents
- Intro
- Parameters
- Formula
- Inputs (Distribution Cost and Peak Time Premium)
(If you are looking for general information about the Spot Price Optimizer Function Block – including all parameters and properties, visit the dedicated documentation page here.)
Intro↑
Learn how to set up the Spot Price Optimizer Function Block for use within the UK, utilising the GB 30-minute Spot Market data.
Currently, there is only one energy provider in the UK offering an energy tariff which enables you to take advantage of the spot market energy prices: Octopus Energy, with their Agile tariff.
With this in mind, we will be basing the setup of the Spot Price Optimizer using the Octopus Agile tariff.
We’ve prepared this walkthrough video showing you the setup documented below.
Step 1. To get started, we need to add a Spot Price Optimizer function block to our Loxone Config file.
Parameters↑
Step 2. Adjust the following Parameters
- Mode → ‘Spot market’
- Market Area → ‘GB 30-minutes (Epex, £/kWh)’
Formula↑
Step 3. Enter the formula for calculating your energy price
What does each part of the formula do?
MIN(1;(I1*I2+IF(I4>=960;IF(I4<1140;I3;0);0))*1.05)
Price Cap – This ensures the amount you pay per kWh is capped at £1/kWh (95p/kWh +5% VAT)
Distribution Costs – This is a multiplication factor based on your area
Peak Time Premium – Between 16:00/4pm (960 minutes past midnight) and 19:00/7pm (1140 minutes past midnight) your peak time premium is added to the unit cost
VAT – add 5% VAT to the result
If you choose not to add the VAT, the formula should be adjusted to MIN(0.95;(I1*I2+IF(I4>=960;IF(I4<1140;I3;0);0)))
General Purpose Inputs↑
Step 4. Find your distribution cost and peak time premium for I2 and I3
For this you will need to know your Distribution Network Operator (DNO) code, otherwise known as region code.
This can be found on the customer’s bill, or via the steps below:
Navigate to https://api.octopus.energy/v1/industry/grid-supply-points/?postcode=
After the = sign, you need to add the customers post code, e.g.https://api.octopus.energy/v1/industry/grid-supply-points/?postcode=RG74RA
This will return the customer’s region code, as shown in this image:
Based on the result, confirm which region they are in:
A – Eastern England
B – East Midlands
C – London
D – Merseyside and Northern Wales
E – West Midlands
F – North Eastern England
G – North Western England
H – Southern England
J – South Eastern England
K – Southern Wales
L – South Western England
M – Yorkshire
N – Southern Scotland
P – Northern Scotland
Based on the region, refer to this Octopus’ “Agile pricing explained” blog, under the “What is my D and P value?” list to find the correct D and P value:
https://octopus.energy/blog/agile-pricing-explained/
Step 5. Input the D value (distribution cost) into the Input 2 parameter (I2), and the P value (peak time premium) into the Input 3 parameter (I3).
Step 6. Save in to the Miniserver
View the Spot Price Optimizer within the Loxone App, and enjoy!
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For further information about the Spot Price Optimizer Function Block – including a programming example for a heat to only run during the 4 cheapest hours – visit the dedicated documentation page here.