Octopus Energy has launched a “world first” local time of use tariff that drops prices for customers when wind speeds are up. The new ‘Fan Club’ tariff will be available to those living close to wind turbines in Caerphilly, South Wales, and Market Weighton, Yorkshire, both of which were just acquired by the company. Customers in these areas will able to use a bespoke 100% green electricity tariff that will see a 20% discount on the unit price when the turbines are spinning, which is about 98% of the time, Octopus Energy said. When the wind picks up – to above 8m/s in Market Weighton and above 10.8m/s in Caerphilly – this discount will be increased to 50%.
Current 18th Jan 2021 read more »
Green energy supplier Octopus Energy is launching a new tariff which ties prices to local wind speeds, the firm announced this morning. The innovation is part of the company’s first move into the generation market, following its acquisition of two wind turbines in Caerphilly, south Wales and Mark Weighton, Yorkshire last year. Each turbine can generate up to 500 kilowatts, enough to power 400 homes per year, according to the firm.
Business Green 18th Jan 2021 read more »
Utility Week 18th Jan 2021 read more »
Octopus Energy has made its first foray into power generation with the acquisition of two small wind turbines. The supplier, recently valued at $2 billion, said that it planned to build a significant electricity generation business in Britain. It is launching a tariff called the “Fab Club” that offers households living near its turbines cheaper electricity prices when the wind is blowing strongly.
Times 19th Jan 2021 read more »