Greg Jackson
@g__j
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Following
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Founder Customer issues: email greg at for best response Blog at
Our one precious planet
Joined November 2008
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Hey John. I'm the founder. You'll see I started the fund to fight racism, not donate to any specific organisation. As an entrepreneur, ofc I don't want the downfall of capitalism. But I do know how many of our team face shocking racism and want to support them by tackling that.
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It costs less than £10k extra to build a “zero bills” home. Thanks to a heat pump, solar, battery and smart optimisation from
@OctopusEnergy
, these
@ilkehomes
houses are not some pipedream. They’re here now. Electrification is magic
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(and if most people heard or saw some of the vile abuse they get - just because of their colour - I know they'd feel the same because I think most people are fundamentally decent, even if the brevity and instant emotion of social media exacerbate our differences)
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This is UK crazy electricity regulation… Scotland generates so much electricity we turn off the turbines when it’s windy (instead of Scots getting cheap/free power). Meanwhile they pay highest standing charges because the monopolies have long wires. We really do need huge reform
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I'd like to welcome Bulb customers and staff.
We'll do our darnedest to look after you through the transition and the crisis.
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Good news, Lee
I heard you like a bargain.
This weekend has been so windy and sunny that on
@OctopusEnergy
's Agile tariff we'd have PAID YOU to charge those batteries
(🇬🇧 renewables can slash energy costs & reduce our reliance on overseas fuel)
Net Zero Nonsense.
Cutting my lawns with a battery powered lawnmower (a gift) gets you thinking.
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As promised...
This is the letter I've sent to customers who emailed.
Summary: Ad slots were not planned by us. We'll monitor any new channels (including this) before running ads and will only advertise if balanced and meets our policies.
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And on the same street, another - and much more welcome bit of clean transport - since these lamp post chargers sprung up, so a bunch of people have gone electric. On-street charging really works for terraces / people without drives & garages
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We vowed to bring down the cost of heat pumps.
Designed and manufactured in Northern Ireland, the Cosy 6 is our first step on that journey. Operating up to 78C, it outputs more heat than most boilers, and with 🐙 smart controls optimises for energy cost & comfort in every room
Launched at
#EnergyTechSummit
, Cosy Octopus is here – and free for some homes.
Our custom-built high temperature heat pump. Cutting-edge smart heat controls & pods. A bespoke tariff. Available from December.
British designed, British manufactured, optimised for British homes.
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Good news...
Even if all of the electricity for a heat pump is generated by gas it uses less gas than a gas boiler
That's how incredibly efficient heatpumps are (and how inefficient gas boilers are)
Why subsidise people to buy heat pumps when there is not enough renewable electricity to power them? We end up burning more gas in a power station instead of in gas boilers.
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High standing charges are a pernicious feature of the regulated energy market, especially for many of the worst-off households. Octopus will waive standing charges for upto 100,000 hard-up customers for 1, 3 or 6 months this Winter.
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Hydrogen for heating is like sparkling mineral water for flushing toilets. Possible, but ludicrously expensive. Actually, it may not even be possible. 120 lobbyists won’t fix the physics. Or the economics.
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Dear dinosaur organisations:
*A printed utility bill is absolutely meaningless as ID vs a PDF*
Indeed - if a customer asks for a printed bill, our team print out a PDF and send it to them. We don't have magic paper. It's just paper.
You then scan it.
This is ridiculous
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A customer X'd me about unexpectedly high bills. As I was digging into it 3 directors joined me to work out not only what happened but how to improve the interface for customers & team to help in these situations
Stuff like this enables us to be
@WhichUK
Recommended 7 yrs running
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Thanks Martin
The deal is planned to complete mid Nov, and the process will really start then. We are determined to make it as smooth as possible for customers and will blog updates as things progress.
Thx all for nice msgs too- teams have been through a lot & this really helps
The Nov sale of Bulb to Octopus, at 1st look, seems a decent outcome for Bulb customers. Octopus customer service is strongly rated and in our surveys it was the most painless firm in transferring customers over (one of only 2 with a net positive rating)
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What happens when 65% of UK electricity comes from renewables? Customers on
@OctopusEnergy
Agile tariff GET PAID upto 20p/kWh to take it off national grid’s hands…
(renewables are incredible. We need to build more, digitise the grid & electrify everything.)
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The reason we see so many horseshit articles criticising/fearmongering about EVs, heatpumps & renewables is that the fossil fuel lobby are now shitting themselves. As clean energy bites, FF demand falls, compounded by prices being elastic to this. Things will likely get v dirty
We need more good news like this
Fossil fuels are losing ground rapidly to
#RenewableEnergy
in Europe
"Renewables now make up 44% of the
#electricity
mix in the
#EU
, the highest share to date"
#ClimateEmergency
via
@Verge
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Octopus is investing so much in heat pumps because we want to end our dependence on gas.
The easier path would be to go along with the fiction we'd shift from selling gas to selling H2 - but that wouldn't be right for customers, environment or security.
.
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Octopus sells £2b a year of gas, but we know how harmful it is:
- Deaths from air pollution
- Climate change
- Global price crises
So we're investing in the research to help make gas redundant.
But other gas sellers invest in lobbying to extend its life, create fear and FUD
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Make no mistake - there are real issues in energy caused by global gas and shortfalls in UK nukes - but the idea of "crisis" is being pumped up by the former Big 6 in order to try to bounce govt and regulators into restoring the cosy oligopoly they used to enjoy.
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We are seeing huge demand for heat pumps- people are smart, and know that scaremongering by gas industry is behaviour of sector threatened by better tech. The more gas lobbyists try to whip up fear the more everyone knows they’re trying to hide something.
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It's critical to understand just how much renewable technologies are coming down in cost. Here's one example.
A Tesla car battery which now costs $12,000 would have cost almost $1m in the 1990s...
The more we deploy clean tech, the cheaper it gets.
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Why is "Octopus" trending? Because there's so much interest in heat pumps
Noone wants to burn gas if they don't to, so harnessing the magic of >300% efficiency from heat pumps is really exciting.
We'll work hard to keep bringing hardware, installation and running costs down
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Producing green hydrogen in the Uk will use 6x more electricity than heat pumps.
If they mean blue hydrogen, it’s made from gas and costs loads more than gas.
Actual science.
Btw- 97% of the worlds hydrogen is currently grey - trashing the climate. Maybe they should sort that
In the future, switching to hydrogen will help protect us from the unpredictable & sometimes fluctuating costs associated with energy bills. If produced in the UK it will also mean that we’ll have access to a reliable source of energy without relying on supply from abroad.
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Standing charges are too high.
Octopus charges 4-5% below the price cap, but it's almost impossible to go lower because of regulation.
Costs should be moved onto unit rates with extra support for low income/disabled customers.
WHY ARE ENERGY STANDING CHARGES SO HIGH?
The high energy standing (daily) charges are a moral hazard and should be reduced. It is outrageous that people have to pay £300/yr just for the facility of having gas & electricity even if they use none.
While energy price cap & bills
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Some industry folk say "this is because Octopus has different customers".
But it's not - Octopus have just spent years behaving and communicating differently, and this is the result.
Even more exciting is the stat buried in the third para: Octopus Energy customers accounted for ~50% of the demand shifting required by the grid.
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twitter would be so nice - and the world a better place - if we all click on and share stuff like this more than the divisive, hate-filled stuff that drags us all down.
A new resolution for me.. share more of this ❣️
Walrus in Scarborough harbour this am - something I never thought I’d see & just 5 minutes from home😊
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Two low carbon hobs:
One is hyper efficient running on universally available electricity. Other runs on unicorn farts (or equally rare domestic hydrogen) requiring tens of £billions of pipework replacement and burns an invisible flame (😱)
And one's easy to clean too :)
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@suchan104
@errjustsaying
@GBNEWS
@afneil
Some people were saying we shouldn't advertise on platforms which spread hate. We confirmed that we don't.
We separately said we want to see GBN output before deciding whether to advertise.
Some media reported out of context and I think that's led to misinterpretation.
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@liarsinc2
@OctopusEnergy
@Jacob_Rees_Mogg
Hi - no bonuses here. And noone's losing their job at Octopus (indeed we've created nearly 5000)- maybe read the article? I wrote it to warn of the issue because I worry about what may happen to employment (and other, even bigger risks).
But hey, don't let facts get in the way
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The energy crisis shows what happens when we are hooked on fossil fuels but it's possible to build homes with *no* energy bills. Octopus and Ilke are already working together to make it real.
It costs less than £10k extra to build a “zero bills” home. Thanks to a heat pump, solar, battery and smart optimisation from
@OctopusEnergy
, these
@ilkehomes
houses are not some pipedream. They’re here now. Electrification is magic
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Another perverse element of our outdated electricity system.
Scotland, wales and northern England have much higher standing charges because they have lower popn density - but pay the same per unit even though they generate much more. Elec should be cheapest where it’s generated
Wow, I didn't realise how much the standing charge varies, it seems quite unequal that consumers in Wales have to pay £86/yr more in standing charges compared to London, this is compounded by the differences in average income 😬, what's the reason for this
@g__j
?
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Subsidies for heat pumps cost well under £1bn- and deliver decades of benefit
Bill support during the gas crisis around £50bn
One's an investment in a technology which has permanent benefits and keeps getting cheaper. The other is the cost of dependence on fossil fuels
If heat pumps were a better product they wouldn't need subsidising to get people to adopt them.
@RossjournoClark
is right.
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Thanks to wind, tens of thousands of Customers on
@OctopusEnergy
Agile tariff are getting paid for 8 hours of usage tomorrow…
(And 100k tracker customers will be getting a bargain…)
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Customers have been cancelling smart meter installs in lockdown because they can't stop working for an hour or two with no internet when the power's off.
So we're rolling out big batteries to power your wifi router during installs... 🧑💻👩💻
It's going down well....
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I see messages from customers like this a lot and don't usually share as they feel private. But it's heartwarming that this lovely customer took time to write to the Telegraph. And hugely kind of
@KatieMorley_
to recognise the team as well as the process.
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The comments from readers and customers on this story are lovely
In tough times, we do need to look after teams so we can look after customers and it’s ❤️ to see that’s understood
Now to focus on the linked crises - the energy crisis and climate crisis
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Octopus Energy recent commitments:
£10,000,000 to build a decarb of heat R&D centre
£5,000,000 to establish the Centre for Net Zero
£108,000 to its BLM fund
£1,000 ad on a right wing channel
So, 15,108x more on progressive stuff
More soon, but hope perspective helps.
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To all the conspiracy theorists...
*No* energy companies have taken meter readings offline. Right now, we have 2500 calls waiting. On a normal busy day, it'd be 150.
Yesterday, we increased the number of servers we us by 250% to help with the expected load.
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Just spoke to my 75 year old mum. She’s bought a Google smart speaker for my 98 year old gran, as it’s easier to use than a CD player and can be used for voice calling.
*tech is not just for young people. it transforms lives for elders*
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Wow. This is from Ofgem's Smart Export Guarantee report for 2022/23.
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1000 new homes with zero energy bills.
This sort of innovation only possible because of our investments in tech and data science
Innovation is essential to drive a faster, cheaper transition to a clean, secure energy system
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Onshore wind is cheap.
Fast to build.
And it's popular.
Every survey finds 80-90% of people in favour.
Today's Twitter Poll: Are onshore windfarms an eyesore or an eye-eye?
Plans are to build more of these tall white modern electricity generating windmills. Do you think they ruin the landscape or look ok?
Poll split by if you've got them near where you live or not.
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Heat pumps won’t get us out of this gas crisis, but they can make it the last
Octopus’s continued investment will drive down costs, create jobs and help make heat pumps the norm.
RED’s team are superb engineers and I’m proud to work with them
Octopus Energy swoops for heat pump manufacturer RED in 'multi-million pound' deal
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We are at COP with a clear message. Every turn of a turbine means less fossil fuel being burnt. Whether we’re decarbonising rich countries or bringing energy to the 800m people without it, renewables are cheapest, cleanest, most secure route.
We built 5 huge pink turbines at
#COP28
in just a few weeks - and they're pretty hard to miss!
This is the kind of mega-fast green transformation that we need to see coming out in the next couple of weeks.
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1) You still have a week to submit meter reads to Octopus
2) Sorry for any difficulties today, but we saw 10x more meter readings than a normal day and 80k calls vs usual 20-30k
3) We had 10x more servers to handle and are doing more tech overnight to help alleviate any issues
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Interestingly, gas->elec->heat pump uses less gas than gas-> boiler
Because a heat pump turns 1kwh of energy into 3kwh of heat, whereas a gas boiler turns 1kwh of energy into 0.8-0.9kwh of heat.
@R_Hughes1
@DraperOr
@g__j
And that extra electricity required to drive all those new heat pumps can only come from burning more gas (or worse coal) right now…
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Heat pumps rock 🔥⚡️👩🔧👨🔧
With huge demand, our investment in innovation and the government trebling down on its commitments to electrify heat, we'll hire 2000 new engineers next year to try to meet demand.
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From 0 to 157,000 in 15 months. That's how many public points where you can now charge an electric vehicle with your
@OctopusEnergy
account. Incredible work from our great team and the fab networks we work with.
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Remember when the internet was "for geeks"?
The computer?
The iphone?
The electric car?
The precedent is pretty good then...
Strange people.
BBC News - Heat pumps: The 'geeks' obsessing over their new heating systems
@heatpolicyrich
@theheatinghub
@_heatgeek
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Octopus Energy gender pay gap...
(not delivered by targets, quotas or programmes - but a culture which lets people be themselves and thrive)
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As the comments point out, solar seems to work in Australia, Egypt, India, Morocco.
Funny how climate change denying coal-lovers think the UK is too hot for it…
As
@AmberRuddUK
put it - they’re now in “solution denial” mode.
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I happened to be in New York this week for a conference on the energy transition. It was amazing how few speakers mentioned the elephant in the room… (and yes, the smoke is everywhere - even in air conditioned conference rooms). And yes, it’s that bad. Your throat hurts.
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Court judgements don't come much clearer: today's ruling confirms Octopus paid a fair price for bulb following a fair process.
On a human level, this is good for Bulb staff, customers and taxpayers, after a period of totally unnecessary uncertainty.
🧑⚖️✅
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Without Clive Sinclair,
@OctopusEnergy
wouldn't exist.
His inventiveness, entrepreneurialism and passion for affordable computing opened up the world of coding and tech to millions of ordinary kids, and helped make the UK a tech hub.
RIP (in 8 colours with attr clash)
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Already, EVs have taken 1.8m barrels of oil off the road every day, so the lobbying against EVs from incumbents is huge
The tragedy is that EVs are bound to win, but every year lost is extra cost for consumers, lost opportunity for the economy and avoidable climate damage
Think EVs are expensive?
In China, big trusted brands are now selling at $10,000 (cheap to run too- with
@OctopusEnergy
UK you can drive 100 miles for £2.30)
This revolution is well under way, but UK, Europe and US have been held back by incumbency.
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My wonderful and very funny gran will be 99 next week, but broke her hip a cpl days ago. Wonderful care from
@SouthTees
#jamescookhospital
. She’s FaceTimed to tell me her mates say they get too many emails from
@OctopusEnergy
😁❤️
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We're not perfect but
@WhichUK
's rigorous & independent methodology has made
@OctopusEnergy
a Recommended Provider for 7th year in a row. Our fab teams in custr service, tech etc deserve huge kudos -and I'm vv grateful to our ♥️customers for support
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Good news, John
EVs are so efficient that even if the electricity to power them comes mainly from fossil fuel power stations, they emit less CO2 than petrol.
And drivers prefer them- only 4% of UK EV owners are planning to go back (…)
Most individual car buyers want petrol not battery cars. The government should abandon fines on car makers who supply what people want. Electric cars generate a lot of CO 2 to produce and are often recharged using electricity from fossil fuel.
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@HawkPigXII
@OctopusEnergy
Hi Chris
IHDs can be flaky and difficult to fix- a bit like my home wifi, but with decades less development but DM me your details & I'll get a boffin to look
Abusive language doesn't help- decent people, work here & want to help. I don't know your job but they wouldn't abuse you
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Telegraph/Bosch: "Heat pumps don't work in older homes"
Times/Octopus: "Hold my beer"
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When we launched
@OctopusEnergy
we were determined to make energy more transparent - so we published APIs for anyone to integrate products and services. Still the only company to do so, afaik.
And it allows lovely stuff like this…
I absolutely love this website.
Well done whoever created it!!
Are you on X? 🫡
I think this is the best one I've seen!
@g__j
@OctopusEnergy
being able to compare variable v tracker prices so easily is fab.
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History GCSE 2040 is going to have a stonkingly difficult question… I’m stumped
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I should have said on
@BBCr4today
:
freezing bills at or close to current levels directly reduces inflation by several percentage points.
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When we started, incumbents had convinced policymakers that "noone will want this"
But dynamic pricing, smart tariffs, saving sessions, etc are wildly popular - we've had over 1.7m customers benefit from them in the UK alone
And this more efficient system benefits *everyone*
@g__j
leccy was ultra cheap today, did washing and drying and thanks to the mini 🐙 I can see how cheap it was…..thanks
@OctopusEnergy
brilliant
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Amazing! Thanks Bernie. We did press release Al Gore’s fund’s investment and the offshore wind investments, and the govt will make over £1bn profit on the bulb deal, but great to spread the message wider. Thank you!
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@OctopusEnergy
are planning hiring 2000 (or more) engineers to fit heat pumps this year. If anyone doubts the desire for people to work in low carbon tech, this is remarkable… (many are gas boiler fitters who know this is the future, others from all backgrounds)
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Heat pumps don't work!
oh no, sorry - this one turn 1kwh of elec into 3.6kwh of heat. They're pretty magic.
Every article slagging them off is a sign of the fear of the fossil fuel lobby
(custs with heat pumps more satisfied than those with gas boilers)
@g__j
My heat pump was installed by
@OctopusEnergy
last June. Design was 3.4 sCOP heat and 1.9 DHW. So far have achieved 3.6/2.3 and very pleased. Definitely cheaper than gas. Trying to demonstrate the tech works to family and friends now.
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It’s hard to convey the scale of
@octopus_energy
’s new R&D and training centre for decarbonised heating, but this will be the admin office
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What a lovely day on Xwitter...
The fab
@VictoriaCoren
posted a poll about
@OctopusEnergy
. Nice replies from
@caitlinmoran
,
@sueperkins
and
@jayrayner1
and then loads of lovely customer stories ❤️
Thank you all - it means loads to our team and they're bouncingly joyous- thank you
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I’m pretty relaxed about fossil fuel companies investing in more production.
Why? Because it’ll never pay back and ultimately worsen their economics.
I’m not relaxed about our inability to build new renewables.
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Kraken uses multi-week weather forecasts to forecast generation for every wind and solar site every half hour. We use this to help balance supply and demand but the team decided to repurpose so customers get a heads up for greener days… v neat & just scratching the surface…
Got this great email from the boffins at
@OctopusEnergy
. Such a great idea
@g__j
for when to charge your
#EV
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Over a MILLION
@octopusenergy
customers have saved money through smart products, tariff and offers. Not only saving themselves money, but reducing system costs & carbon by reducing demand at peak times, better utilising infrastructure
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There’s something magical about heating a home without burning anything…
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Cleaner, cheaper more secure energy was at the heart of today's 🇬🇧🇫🇷 business summit
We pledged to invest more in renewables, work to digitalise grids and help customers with efficiency
Last year, Germany built 5 new gas terminals. We need the same urgency in clean electricity
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Here's a no-paywall link to the original Bloomberg piece on potentially iffy trading costing UK electricity billpayers £500m
We need electricity market reform urgently (eg we waste billions by not handling variability well, we can't build new stuff..)
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New homes from Hill Homes, guaranteed bill-free for at least 5 years:
With the magic of heat pumps, solar, battery and Octopus's optimisation -we guarantee no home energy bills.
More details:
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To quote one of our directors “she’s a legend... picks up difficult calls for colleagues, never drops a ball, truly cares”.
🐙❤️🤗
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When it’s windy and sunny, renewables give us abundant cheap power - the kludgy fudgy way grid & other charges works needs reforming so people get the benefit
Recently, we took boatloads of lovely customers to one of our offshore wind farms ⛵
Now, the same turbines will give locals up to 50% off their energy when they're spinning fast.
Say ahoy to our first offshore Fan Club, for the Grimsby/Skegness coast👉
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Today, you'll hear that wholesale gas prices are dropping.
Indeed, today it's 10p/therm. Normal prices are about 40p. Today is warm and we don't need much, so supply>demand.
HOWEVER - gas for delivery Dec-March is £4.00 as the world tries to make winter work without Russian gas.
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100 more large renewable projects to come from Octopus…
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To those who doubt WoF - another winner! Rest assured we have a support team who'll be in touch with Anna to help with financial planning and manage the inevitable publicity.
(thousands of people do win every month - some win hundreds of £. We recently boosted the win ratio too)
Woohoo, finally won a whole pound on the
@OctopusEnergy
wheel of fortune! Thanks, Constantine 😄 🐙
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My gran, turning 100
Thanks to the lovely Hazelgrove Care Home in
@saltburnbysea
for inviting the bikers over to celebrate!
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Wow! Renewables job growth in Scotland - from 27,000 to 42,000.
At this rate of growth, clean energy jobs could be a year or two from overtaking oil & gas which employs around 70,000.
And that's before all the jobs fitting heat pumps, ev chargers, etc
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Totally agree
It’s mad that we spend billions throwing away green electricity instead of giving it to local people and businesses more cheaply when it’s windy or sunny
It’s like the butter mountains and wine lakes all over again
Local pricing would reduce cost *everywhere*
Yes brilliant website link from
@OctopusEnergy
but when will we see something better for Regional/National unit rates - especially in areas with high renewables such as Scotland?
@patrickharvie
@lornaslater
@GillianMSP
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Hydrogen for heating. The more you look at the science and economics, the worse it looks. The “blue hydrogen” section here is especially illuminating. We’d need 45% more natural gas to heat with hydrogen- and then huge costs in CCS (if possible), pipe work, etc. it’s crazy
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40,000 British kids with asthma per year caused by fossil fuels
Surely this is pretty shameful?
Electrification doesn't just cut CO2 but *all* of the pollution from burning stuff in towns & cities
UK worst in Europe for pollution-linked childhood asthma cases, study shows
Four million asthma cases worldwide attributable to nitrogen dioxide exhaust fumes, with UK ahead of the Netherlands, Belgium, France and Spain for number of cases.
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Fossil fuel lobby are shitting themselves, as are many traditional carmakers. 1.8m barrels of oil off the road already
But clickbait journalism and embarrassing degrees of "grooming" by incumbents means press are gagging for any anti-EV angle
It'd be funny if it wasn't important
Good luck with that.
Sounds like the fossil lobby are ramping up their anti ev attacks.
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Today’s interest rate news is a good reminder that a major cause of high interest rates is our extreme dependence on fossil fuels.
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Neat.
@krakentech
keeping lights on💡during Christmas 🎄
👉🏼 Today, the power line ⚡️connecting UK 🇬🇧 & France 🇫🇷 tripped
👉🏼 Within a sec, UK lost 1GW (1m homes 🏡 worth)
Kraken 🐙 in <1 generated 400MW ⚡️from batteries 🔋 on the platform, keeping the lights on 💡
@OctopusEnergy
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Heat pumps are just great
(the number of negative articles about them is a sign of just how worried the fossil fuel lobbyists are that people are discovering this... but our surveys show 80% satisfaction with heat pumps and 60% with gas boilers)
A bill for 28 days in Feb and March to run our heat pump. Using Octopus Cosy we manage to have a rate much lower than what we would have under the price cap.
If we were using Gas our bills could have been around £250 so our heat pump +
@OctopusEnergy
Cosy saved us £50 in Feb
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You wouldn't know it from the headline, but scroll to the end and "94% of tweets positive or neutral" (34% +ve, 6% -ve) so positive outweighed negative almost 6:1
Ofc it's not for everyone- like "reduced to clear" in supermarkets but bargains add up & make a real difference
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Renewables was cheaper than gas generation even before the crisis.
Every wind turbine reduces our need for gas.
The more renewables we build, the cheaper they get and the better we'll be at using their clean green cheap power.
The solution to a gas crisis is not "more gas"
👇
1. Global gas prices are at record highs.
2. The more renewable energy we generate at home, the less gas we burn to keep the lights on.
3. Without renewables, we would be burning more gas - very expensive gas.
4. We need to generate more cheap, clean power at home
👇🏾
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1.8million
@OctopusEnergy
customers enjoy bargains from smart tariffs and services.
In a world of renewables there are many times we have surplus electricity - esp in Scotland, and many of the less wealthy regions of England and Wales.
System reform can slash prices
We all shop for a bargain in supermarkets – electricity can be the same.
We need to move to a world where if people choose to, they can get cheaper electricity by using it at the cheapest times,
@g__j
tells
@MattBarbet
.
@SkyNews
|
@OctopusEnergy
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Ofgem has appointed
@OctopusEnergy
to look after the customers of Avro, following its failure.
Details here:
We know times like this can be concerning for customers - and terrible for staff - of failed companies.
We are already working very hard to
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If proven, this is shocking - and another sign that electricity is broken. £500m is a huge figure, but comes on top of billions in “curtailed” wind, balancing costs, etc. We need more renewable generation, dynamic pricing and decentralisation to drive down costs.
☀️Morning! Friday’s Sun Business: Power companies have ripped off Brits by half a billion pounds by gaming National Grid when threatening to switch off their generators and offering to switch back on if they get six times as much cash. Outrageous abuse of broken energy system.
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