Octopus Energy
| Use attributes for filter ! | |
| Founded | 2015 |
|---|---|
| Headquarters | London |
| United Kingdom | |
| Key people | Greg Jackson (CEO) |
| Parent organizations | OCTOPUS CAPITAL LIMITED |
| Subsidiary | Affect Energy Limited |
| Date of Reg. | |
| Date of Upd. | |
| ID | 875234 |
About Octopus Energy
Octopus Energy is an electricity and gas supplier in the United Kingdom, established in 2015 as a subsidiary of Octopus Group, a British asset management company. As of March 2019, the company has over 600,000 domestic and business customers.
Discounts return to cut electricity use amid cold snap
... Octopus Energy confirmed it would sign up for Wednesday s session...
Octopus to buy Shell's household energy firm
... Octopus Energy said that it will take over providing energy for 1...
Storm power cuts: Maximum compensation nearly triples to £2,000
... On Next, Octopus Energy and Good Energy were previously fined £8m in total for failing to pay compensation in time for missing final bill deadlines...
AI: Workers need more protection - TUC union
... It comes as the boss of Octopus Energy told the BBC its customers prefer emails written by AI over his staff...
Energy firms warned against paying dividends
... 8bn and has since been taken over by Octopus Energy...
Government heat pump scheme misses first year target
... Major energy suppliers Octopus Energy and EDF are now offering heat pumps for less than £3,000 for some properties...
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... Octopus Energy is set to invest £1...
Renewable energy projects worth billions stuck on hold
... Energy companies like Octopus Energy, one of Europe s largest investors in renewable energy, say they have been told by National Grid that they need to wait up to 15 years for some connections - far beyond the government s 2035 target...
Discounts return to cut electricity use amid cold snap
By Michael RaceBusiness reporter, BBC News
Discounts will be offered to some households to use less electricity at peak times on Wednesday in a bid to ease demand amid the Cold Weather snap.
Suppliers signed up to The National Grid ESO scheme will offer money back to customers with smart meters who cut usage between 17:00 and 18:30 GMT.
National Grid said the decision did not mean electricity supplies were At Risk , adding " people should not be worried".
It started the scheme Last Year and ran its first event earlier in November.
Individual energy suppliers decide how much customers are paid to cut consumption, and whether The Money is taken off bills, credited to accounts, or if available to be withdrawn as cash.
National Grid ESO said it decided to offer discounts In Return for people reducing their electricity consumption after its forecasts showed tighter than usual supply margins on Wednesday evening.
" These are precautionary measures to maintain the buffer of spare capacity we need, " The Network operator said.
The so-called Demand Flexibility Service enables households to save cash if they avoid high-power activities, such as cooking or using washing machines, for a specified period when demand is high.
The Cold Weather and a lack of wind is expected to contribute to Higher Power demand, but National Grid ESO said deploying the scheme was based on a " combination of factors".
The scheme is also open to businesses who could, for example, change production schedules or switch to batteries or generators at peak times.
Last Year , National Grid ESO said 1. 6 million households and businesses who were customers of 31 energy suppliers participated in 22 " events".
It said the amount of energy saved was enough to power almost 10 million homes.
However, as individual suppliers decide their own discounts it is difficult to know how much money on average was earned.
Octopus Energy confirmed it would sign up for Wednesday's session. The Company said Last Year 700,000 of its customers took part and The Top 5% of participants saved about £40 over The Winter .
This winter the supplier said it was offering its customers points or account credits, and was aiming to create options for people to turn them into charity donations.
Any Octopus customer who signs up will be awarded 100 points on their account. A further 3,200 points are available per kWh saved, which the supplier said was worth £4.
The UK is heavily reliant on gas to produce electricity, with gas-fired power stations generating More Than 40% of the country's supply.
The disruption of gas supplies Last Winter to Europe from Russia following the outbreak of war in Ukraine left many countries scrambling for alternative supplies, which increased demand and had a knock-on impact on Britain, with household bills soaring.
While gas and electricity prices are lower than Last Year , most households will actually pay more for energy this winter compared with last, because government support for bills is no longer in place.
Related TopicsSource of news: bbc.com
