More than 250,000 Octopus customers have together saved over £1 million by delivering demand flexibility over four paid-for sessions, the energy group announced today.
Operating on National Grid ESO’s Demand Flexibility Service platform, Octopus’ customer-facing implementation rewards households with cash, when they shift their usage outside periods of peak electricity demand.
Following unpaid tests earlier in the year, the suppliers’ customers were participating in Britain’s biggest paid-for tests of planned demand reduction, designed to reduce the risk of brown-outs due to winter demand.
Four hour-long sessions between 15 November and last week trialled the retailer’s offering, designed to assist the ESO balance Britain’s national network.
Participating Octopus customers together lowered the energy demand on the grid during each peak period by over 100MW, the same output as a medium sized gas power station
Customers saved on average over £4 across the first four sessions, with the top 5% of savers bringing in almost £20. Nearly half a million customers have signed up to the scheme so far and will still have a chance to rake.
Octopus’ fifth “saving session” will take place tonight, Monday 12 December between 17:00 and 19:00 hours
“This is a massive milestone – across just four hours, we’ve been able to pay out £1 million to our customers,” said Alex Schoch, head of flexibility at Octopus Energy.
“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”, Schoch went on. “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.”
By 24 November, more than 420,000 customers of Octopus’ 1.4 million eligible smart meter customers had signed up to the scheme, designed in tandem with the NG-ESO. It runs from November to March, and is still accepting new sign ups.
Rivals OVO Energy, E.ON Next and Flexitricity are also participating in the ESO’s Demand Flexibility Service.
National Grid unveiled the flex offering in its Winter Outlook report in October.