Spot Price Optimizer: 30 minutes (UK)

Table of Contents

(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

The formula for the Octopus Agile tariff is MIN(1;(I1*I2+IF(I4>=960;IF(I4<1140;I3;0);0))*1.05)

Loxone Loxone Spot Price Optimizer Epex Octopus Formula

 

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

Note: You do not need to add the VAT. However, this ensures the result displayed in the Spot Price Optimizer is consistent with the Agile Portal dashboard: https://agile.octopushome.net/dashboard

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).

Note: It is important that you add a decimal place to the peak time premium, e.g. 12 should be inputted as 0.12 to ensure you are adding 12p/kWh, rather than £12/kWh.

Loxone Loxone Spot Price Optimizer Epex Octopus Inputs

Step 6. Save in to the Miniserver

View the Spot Price Optimizer within the Loxone App, and enjoy!

Loxone Spot Price Optimizer Epex Octopus Mobile App Loxone Spot Price Optimizer Epex Octopus Tablet Loxone Spot Price Optimizer Epex Octopus Laptop

 

Note: As the Spot market data is based on CET, pricing data for 23:00 & 23:30 is released with the pricing data for the following day. You can expect to see data for the 23:00 – 23:30 and 23:30 – 00:00 periods between 17:00 and 21:00.

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.