Octopus Energy has launched a new smart tariff for households with traditional electric storage heaters, which could help them save around £140 a year.

The ‘Snug Octopus’ tariff automatically schedules traditional storage heaters to start up at the cheapest and greenest times, helping to balance the grid and keep customers warm for less.

The tariff offers up to six hours of “cheap energy” every night with an extra hour in the afternoon.

According to Octopus, this will allow average…