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Nearly one million Octopus customers cash in on smart savings

Posted at October 26, 2023 » By : » Categories : News » Comments Off on Nearly one million Octopus customers cash in on smart savings

Octopus Energy noted that more than one million of its customers have benefited from energy efficiency and demand flexibility services.

More than 300,000 customers have adopted Octopus’ innovative smart tariffs, facilitated by the use of smart meters.

These tariffs incentivise customers to use energy during off-peak hours when it is more cost-effective and environmentally friendly.

In addition, more than 700,000 customers have engaged in “Saving Sessions,” the UK’s inaugural nationwide household demand flexibility initiative.

This shift in energy consumption away from peak periods contributes to grid stability, reduces dependence on fossil fuels and offers financial benefits to consumers.

Alex Schoch, Head of Flexibility at Octopus Energy, commented: “By using less electricity during peak times, over one million Octopus Energy customers saved everyone money in system costs, and speeded us towards a green grid free from dirty fossil fuels.

“Instead of limiting the participation of households in balancing the grid, we need policymakers and system operators to double down on it, tap into this massive resource and make this the last fossil fuel energy crisis.”

Article source: https://www.energylivenews.com/2023/10/26/nearly-one-million-octopus-customers-cash-in-on-smart-savings/

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