Tag: Octopus Energy

Octopus boosts customer support fund to £40m and locks in extra help with fintech partner

Stuart Mitchell

Octopus Energy has added an extra £10 million into its financial support fund Octo Assist, now totaling £40 million – boosting help for households struggling with their bills this winter.   Since launching in 2021, Octo Assist has helped over 100,000 customers access financial support, while making the process as quick and easy as possible. With £40 million available, more people can get help faster, often receiving relief directly in their energy accounts within days of applying. Thanks to a partnership with innovative fintech platform Paylink, Octo Assist also identifies other financial…

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4.5 million cuppas? Scots power the world’s largest virtual power plant

Stuart Mitchell

Scotland might be known for whisky, iconic castles and stunning landscapes, but now it’s making waves in the world of green tech.  Households across the country are helping to power the world’s largest Virtual Power Plant (VPP), as Octopus Energy’s tech platform Kraken smashes through a record-breaking milestone of 2GW of managed energy devices.  With over 20,000 local green devices connected to Kraken – from electric vehicles and batteries, to heat pumps and solar panels – Scottish households are helping to reduce the grid’s reliance on dirty fossil fuels, soaking…

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Market reform would save £27bn and avoid nearly 3,000km of new pylons

Stuart Mitchell

New analysis from FTI Consulting, commissioned by Octopus Energy, shows that reforming the market by adopting zonal pricing could prevent the construction of nearly 3,000km of unnecessary pylons – almost three times the length of the UK – and deliver up to £27 billion in savings for bill payers*. FTI compared the impact of national and zonal pricing systems on five major intra-GB transmission lines. Under national pricing, all five lines were worth the investment. However, applying zonal pricing significantly decreased the payback on these power lines by between 22%…

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New study shows aligning renewable energy targets with supportive policies would lift 193 million people out of extreme poverty

Stuart Mitchell

A new study published today shows that coupling renewable energy targets with supportive development policies and investments would have major financial benefits. Such a shift would unlock US$20 trillion in cumulative savings in the energy sector, increase GDP by 21 percent, and increase average per capita GDP by $6,000 by 2060, compared to a business-as-usual scenario. The study, conducted by the United Nations Development Programme (UNDP), University of Denver’s Pardee Institute and Octopus Energy, set up to explore how time-bound renewable energy targets, backed by coherent policies and financing mechanisms,…

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Octopus Energy advert hits UK streets – ‘We’ll keep fighting for you’

Stuart Mitchell

Octopus Energy, has launched a new advertising campaign rallying behind customers with the message: ‘We’ll keep fighting for you’. Octopus’ pink mascot now stands tall on hundreds of billboards around Britain, symbolising the company’s commitment to stand up for its customers and challenge the status quo. It comes as the UK government abandoned plans to introduce Zonal Pricing for electricity – a new pricing system championed by Octopus to unlock cheaper bills – opting instead for the promise of ‘Reformed National Pricing’. Unfortunately, there’s no definition of what this means,…

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