A new smart thermostat expected to cut energy costs by adjusting heating as energy prices fluctuate has been launched.

Altology’s Themo product can be used with a cloud-based optimisation software called SLS Cloud to maximise its green effects.

The developers of both technologies claim they are already helping reduce electricity heating costs across a number of Baltic nations by an average of 30% and by as much as 60% in homes, commercial offices and industrial installations.

Themo takes into account day-ahead wholesale electricity spot price, outside temperature, pre-set heating levels and the occupier’s consumption profile to learn the user’s comfort preferences and reduce energy consumption based around this.

Users can control Themo from the smart thermostat or via their phone.

SLS Cloud can be used to control and optimise third party thermostats, as well as other electric storage heaters, heat pumps and even gas and oil fuel boilers.

Jeremy Pilkington, Partner at Altology, said: “At a time when saving energy is at the top of the agenda, the launch of SLS Cloud and Themo could not be more timely.

“With consumers and businesses looking for more control over their energy use, these technologies are designed to bring economic benefits by helping to consume energy when its cheapest.”