Home Business News Energy provider pays their customers more than £1m to save electricity in ‘just four hours’

Energy provider pays their customers more than £1m to save electricity in ‘just four hours’

by LLB Finance Reporter
12th Dec 22 2:50 pm

An energy provided has paid out over £1 million to their customers who took part in a new pay not to play scheme, which is being trialled by National Grid.

Octopus Energy customers have saved as much as £20 since it launched last month and 250,000 households took part saving an average of £4 each.

The energy provider said on Twitter, “If everyone with a smart electricity meter in Great Britain joined something like #SavingSessions, we’d have over 1GW of flexibility.

“That’s almost as much as powering up one of the UK’s major coal fired power stations (but without the emissions).”

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By asking people to reduce their energy where they can as certain times, National Grid can manage the demand for electricity more easily.

Customers who turn off their washing machines, tumble dryers and dishwashers will help save more electricity for the grid resulting in cheaper bills.

Alex Schoch, head of flexibility at Octopus said, “This is a massive milestone. Across just four hours, we’ve been able to pay out £1 million to our customers.

“Normally, this money would have gone to businesses or dirty gas power plants to balance energy demand. Instead, it’s helping people lower their energy bills this winter.

“We are proud to have pioneered this trailblazing scheme, which is paving the way towards a smarter, greener and cheaper grid for all.

“And we’re glad that other energy suppliers are now getting involved, allowing even more people to grab a bargain and lower bills for everyone.”

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