Octopus Energy tariff tool incentivises multi-site renewable sharing
Octopus Energy has launched a new tariff tool to incentivise businesses with renewable generation to share the green power they generate on one site with the rest of their sites as the UK continues an energy efficiency and flexibility push.
The new ‘Max Power’ tariff allows businesses with two or more sites to send any excess renewable energy they’re generating to their other locations in the UK. Octopus estimates it could save businesses like these up to 25% off their annual electricity bills.
The model works for those that may have solar, onshore wind turbines, hydro power, geothermal or battery storage in one location to share it with their other sites.
It builds on Octopus’ current suite of business tariffs including ‘Panel Power’, Octopus’ smart export tariff which pays solar-generating businesses 15p (18c) per kWh for excess energy they send back to the grid.
‘Max Power’ is hoped to advance this and enable multi-site businesses get the maximum out of the green power they generate by keeping it within their own business.
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The Max Power tariff will be enabled through the Kraken platform, where multi-site businesses are billed as one in the hopes of making it easier to understand and manage their consumption.
It marks the latest from Octopus in enabling business customers to access energy-saving initiatives to lower bills, such as their ‘Saving Sessions’ scheme enabled by the National Grid ESO’s ‘Demand Flexibility Service’, which allows business customers to get paid for shifting energy usage out of peak times.
Zoisa North-Bond, CEO of Octopus Energy for Business commented: “Businesses generating their own renewable energy can now bring their bills down further by sharing their cheap green power across their entire estate.
“Innovation like this puts money back in the pockets of British businesses and gives them greater control over how they use their energy. We’re showing that the greener choice can and should also be the cheaper choice.”
