Believed to be the biggest deal of its kind in the world, the contract will connect just over 50% of GRID’s large-scale batteries to Octopus’ technology platform Kraken.   Kraken’s unique AI and machine learning optimisation will charge GRID’s batteries at times of renewable energy glut and discharge them when Britain’s National Grid is under stress.

Such intelligent flexibility reduces wasteful instances of ‘curtailment’ or jettisoning cheap clean power when too much electricity – both low carbon & thermal – swamps Britain’s  transmission  & distribution networks.

‘Curtailment’ left UK energy bill payers with a staggering £800 million of costs in 2022.

Launched in 2018, Gresham House is the largest battery investment fund in the UK, owning around one-fifth of UK utility-scale storage. Octopus will take over half of GRID’s British-based large-scale battery fleet for the next two years.

Those 14 large-scale amp hotels & coulomb crèches can store in excess of 900MWh of electricity  – enough to power 1 million homes for an hour, or a city the size of Birmingham.

Its deal with Gresham House follows hot on the heels of Octopus reaching 1GW worth of shiftable load – the largest virtual power plant in the UK – through its electric vehicle (EV) tariff, Intelligent Octopus Go.

The supplier’s head of flexibility Kieron Stopforth said: “Every year the UK loses hundreds of gigawatt-hours of clean energy because our system isn’t flexible enough to keep it – PLUS have to pay for this senseless waste.

“Batteries unlock the clean and cheap energy system, storing green energy when it’s plentiful and providing it back to the grid when energy is expensive – and work even better with brilliant tech to manage that optimisation,

“Through this landmark deal with Gresham House Energy Storage Fund, we’re not only increasing the size of our virtual power plant to over 1.5GW, we’re also unlocking the power of flexibility, aiming to drive down grid costs.”

Ben Guest, fund manager of Gresham House Energy Storage Fund plc & MD of Gresham House New Energy, said: “These new contracts with Octopus Energy secure revenues which are above those currently being achieved in the national market, demonstrating the value batteries can provide in balancing supply and demand for retail and wholesale market players.”

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The regulator has given industry players including suppliers & consumer protection bodies until 11 June to comment on its proposals to re-introduce so-called ‘acquisition-only tariffs’.

The consultation follows Ofgem’s  recent measures taken to protect consumers – including via a series of rising or falling caps guiding retail tariffs – from rampaging inflation in energy prices. These have been caused by the world’s emergence from Covid lockdowns, and by the neo-fascist Putin’s rapacious aggression since 2022 towards Ukraine.

So-called ‘acquisition-only’ tariffs, available only to new accounts and not to existing customers, have been banned by Ofgem since April 2022, in an effort to stabilise prices in unstable, post-Covid markets. The ban was first extended until March last year, and then until March 2024.

At the end of February, Ofgem announced it would use its existing powers to extend the ban for a further thirteen months, hinting the latest extension would be the last. At the same time, the regulator said it would sound out industry opinion on whether to remove the ban as early as this October, assuming its retail price caps remain in force.  The alternative is to leave the ban in place until March next year.

Permitting suppliers to re-launch aggressive customer-recruiting tariffs this autumn, is flagged in the consultation as Ofgem’s preference.  An early lift will yield, the body expects will a faster return to competition between suppliers on both price and service factors,

The proposals set out Ofgem’s evaluations of each scenario’s impact on efficient competition in retail energy.

Early response from participants included an argument for retention from Citizens’ Advice, the government’s statutory and independent advisor on fuel poverty.

“Keeping the ban in place is a no-brainer“, Gillian Cooper, CA’s energy director commented.  “It prevents suppliers from locking loyal customers out of their cheapest deals.

“Ofgem must resist pressure to scrap it and ensure suppliers are proactively keeping customers up to date about their cheapest deals.

Removing the ban would unfairly hit older and disabled consumers the hardest, said the CA spokesperson, as they are less likely to switch to a new supplier.

“The ban also protects millions of people with energy debt, whose suppliers can block them from switching, as it means they don’t have to stay on the most expensive tariffs pushing them even further into the red.

At Britain’s biggest supplier Octopus Energy, director of regulation Rachel Fletcher agreed.

 “Allowing suppliers to block their best deals from loyal customers would be a return to the ‘Wild West’ of the energy industry”, she said.

“The loyalty penalty was a key reason 30 energy companies went bust, and ended up adding billions of pounds on to energy bills. Ofgem was right to ban these unsustainable Del Boy tactics, and it would be crazy to bring them back now”, Fletcher went on.

“Instead we need a more transparent, fairer market where suppliers are forced to compete based on innovation, customer service and efficiency. We need lower prices for everyone, not just the few.”

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Headed by Devrim Celal, the fulfilment platform has announced a multi-year deal with municipal utility Saint John Energy, (SJE) in New Brunswick on Canada’s east coast, licencing Kraken’s end-to-end customer service platform.

As Kraken’s first partner in the North American energy market to license its customer platform, SJE can now use Kraken to support its progress towards a decentralised, decarbonised grid for its 36,000 customers.

SJE will adopt Kraken’s end-to-end utility operating system, enabling it to create & brand new green energy-focused services, deliver advanced customer care through relentlessly efficient processes, and flexibly manage its distribution network.

Kraken, which is part of Octopus Energy Group, will import and integrate all of SJE’s residential & business customers onto its all-in-one customer service, billing, optimisation, and asset management platform.

As Canada’s oldest incorporated city, Saint John on the 45^th parallel has been a test bed for electrification. Its 70,000 or so inhabitants face average January temperatures of minus 12 Celsius, and 167 days a year when temperatures do not rise above freezing point.

So the municipal power provider has had to come up with energy innovations, deemed among the most forward-looking in north America. More than 75 percent of the city’s customers have homes & premises heated by electricity. More than 70 percent of customers rent water heaters, and more than 20 percent of residents rent heat pumps.

In 2019, SJE became the world’s first utility to deploy a Tesla Megapack to store power, cut greenhouse gas (GHG) emissions, and reduce grid strain.

As the utility continues to employ solutions to reach Net Zero, the partners say Kraken’s end-to-end management platform will be critical in supporting the utility’s future energy transaction needs while easing emerging grid constraints resulting from new technologies in renewable generation and consumer low-carbon behaviours.

Greg Jackson, founder of Octopus Energy Group, said: “Around the globe, Kraken partners with some of the most trusted energy brands to decentralise, decarbonise, and above all, modernise the grid.

“Saint John Energy’s track record as an innovative early adopter makes this partnership a natural fit for us as we look to drive the energy transition worldwide. As our first utility and distribution partner in North America, we are excited to support Saint John Energy in bringing more affordable, reliable solutions to its customers in Canada.”

Ryan Mitchell, president and CEO of Saint John Energy said: “We’re proud and excited to partner with Kraken, which not only has a transformative platform but an international reputation for best-in-class solutions tailored to the energy industry.”

“Implementing its solutions will give our customers more information and control over their energy needs” Mitchell added.  “It will allow Saint John Energy to pursue more innovative solutions in clean energy and the transition to Net Zero.”

The Canadian deal follows Kraken’s recent pilot partnership to reduce grid constraints in Connecticut, its successful U.S. launch of SmartFlex, and a licensing agreement with a Texas-based energy asset manager, Tenaska.

Kraken currently looks after 54 million utility customers across the globe. Managing around 155,000 domestic devices— or over 38 GW of contracted power, it stands as one of the largest residential virtual power plants in the world.

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in December the ministry also cancelled progression of a village-scale hydrogen trial at Winlaton near Redcar, pictured.

Officials now believe the low carbon gas, in either its fossil-fuel-derived blue hue, or the cleaner green variety electrolysed with wind-generated electricity, may have a role to play in heat decarbonisation, but in slower time and in only ‘some’ locations.

D-ESNZ plans to take a final decision in 2026, after assessing evidence including from a neighbourhood-scale hydrogen trial in Fife and other studies across Europe.

Britain’s four main operators of gas networks have lobbied Whitehall hard for hydrogen to be viewed as a panacea, a high convenience, low cost replacement for methane-heavy, climate-wrecking ‘natural’ gas in Britain’s 30 million homes.

In October 2022, the then D-BEIS ministry invited the four to commit to operational trials, leading to mass deployment.  All four responded with business plans.

But the hydrogen drive had been opposed as impractical, manipulative and still polluting by advocates for electric heat.

One immediately welcomed Whitehall’s backtracking yesterday.  James Standley, chief technical officer of Truro-based Kensa, Britain’s only manufacturer of heat pumps, and a company part-owned by Octopus Energy,  said abandoning the village-scale trial was “further recognition that hydrogen has no major role to play in future home heating”.

“Every academic study on the issue, the economics and the physics demonstrates this”, Standley went on. “The government should now take the next logical step and rule out hydrogen heating for anything other than a small number of very specific cases.

Electrification, whether via heat pumps or heat networks, remains the best and quickest way to achieve clean heat while ensuring the best outcomes for consumers, Standley opined.

“The longer hydrogen remains part of the conversation”, the Kensa boss said, “the further the transition will be delayed, hampering the speed at which these already proven technologies are rolled out.”

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Investee company Ocergy is disrupting the floating offshore wind market with an innovative approach to designing and manufacturing floating foundations, drastically reducing their build cost and deployment time.

Headquartered in the US and with operations in France, Ocergy pioneers a hyper-local supply chain approach, working with local manufacturers and creating green jobs in the areas where the turbines are installed.

Further efficiencies are unlocked, says Octopus, through Ocergy’s lighter designs which make the turbine foundations easy to transport and assemble.

The green tech disruptor already works with over a dozen developers. Its first floating foundations are scheduled for installation from next year.

Octopus’ investment today, of undisclosed value, will help fuel the rapid expansion of Ocergy’s tech into new markets.  Also benefiting is the US firm’s cutting-edge system for monitoring biodiversity and collecting environmental data related to floating turbines when in operation.

Vector, Octopus Energy’s £3 billion offshore wind fund launched late last year in partnership with Tokyo Gas, is making today’s investment.

It marks the latest milestone in the company’s plans to turbocharge the rollout of offshore wind globally to reduce the globe’s reliance on fossil fuels.

Floating foundations are used in areas where the seabed is too deep for conventional turbines to be fixed.  Around 80% of global offshore wind resources are located in deep waters, according to the Global Wind Energy Council, thus underscoring this technology’s vast potential.

Governments across the globe have set ambitious targets for floating offshore wind. Britain alone is targeting 5GW of floating offshore capacity by 2030.

Octopus Energy Generation CEO Zoisa North-Bond said: “Tech and innovation are fuelling the energy revolution globally, and Octopus is always on the hunt for game-changing solutions.

“Ocergy’s ground-breaking approach has the power to slash the costs of floating offshore wind. With our investment, they will get there faster, paving the way for cleaner, greener energy systems across the globe.”

Ocergy CEO Dominique Roddier said: “We are incredibly enthusiastic about this collaboration.

“It will empower us to scale up our operations and concentrate on delivering both pre-commercial and large-scale floating offshore wind projects. There are lots of synergies between Octopus’ forward-thinking efforts in offshore wind and Ocergy’s accomplishments.”

The world’s biggest floating wind farm off Aberdeenshire was this week announced to have secured its final planning consent. The 560MW Green Volt venture, co-owned by Japanese-owned Flotation Energy and Norwegian energy company Vårgrønn is scheduled to be fully commissioned in 2029.

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Consolidating its position as the UK’s largest electricity supplier, the supplier says absorbing the Shell client base beat its own record by four months, a record set in 2022 when the company took over Bulb’s 1.5 million customers.

Its industry-leading standards of customer services were unaffected by the latest transition, according to the company.

The first Shell customer was transferred over to Octopus’ systems just before Christmas to test the process. Full migration began on 30 January.

Octopus’ technology platform, Kraken, was behind the rapid absorption.  Part of the group since foundation in 2015, Octopus claims Kraken is UK power’s most adept software system for large-scale customer migrations.

Octopus says Kraken is now contracted to serve 54 million energy accounts globally. That number includes around half of all UK energy accounts, managed under license deals with E.ON Next and EDF, besides its parent.

As part of the Shell adoption, Octopus has offered more than 6,000 of Shell’s most vulnerable customers free, energy-efficient electric blankets to help them stay cosy and reduce their bills.

Octopus says its analysis reveals customers who have used electric blankets have saved around 20% on their winter bills, or an average winter saving of £150.

Last month Which?’s customer service survey saw Octopus perform best for quick and effective customer service, scoring 25 points above the industry average.

Octopus founder Greg Jackson commented: “We are thrilled to have completed the transfer of all Shell Energy customers to Octopus Energy, achieving this milestone in record time.

“Thanks to the effectiveness of Kraken and Octopus’ promise of brilliant customer service, we have seamlessly transitioned customers to our platform while ensuring a smooth and hassle-free experience.”

First announced in September 2023, the purchase of Shell Energy Retail’s 1.3 million customers was completed in December 2023. All 500 customer-facing employees at Shell Energy Retail were offered new roles at Octopus Energy, with the majority based at Octopus’ new Coventry office.

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The BM uses flexible assets – things that produce and consume capacity – like EVs, batteries and gas power stations to ensure supply meets demand, millisecond by millisecond.

An electric car-only combined unit in the mechanism will eventually see hundreds of thousands of Octopus customers participate as a virtual power plant (VPP). This is where digital technology enables all the cars to become like one large power station.

Since September the National Grid ESO has been running a trial using only Octopus customers, and their electric cars, to balance the Grid.   The trial’s success paved the way for other suppliers to do the same and offer a greener alternative to gas power stations.

Octopus customers taking part in the mechanism through the Intelligent Octopus Go tariff benefit from heavily reduced charging tariffs. Every bill payer benefits through a reduction in system balancing costs.

The trial has proved that many ‘mini power plants’ – electric cars – can be as useful as one big power plant. The only difference is that consumers pocket the cash for balancing the grid rather than big energy firms.

Extrapolating the results of the trial, if all 10 million EVs that are expected to be in the UK by 2030 participated in the Balancing Mechanism, system costs would be reduced by almost £100 million a year. They would also prevent abundant renewable energy from being constrained during low demand.

Octopus was the sole participant in the trial. Its experience showed domestic devices could balance the grid.

The trial ends in coming weeks, after which the company will share lessons and plans  with participants, discussing the implications for the industry.

The supplier’s head of flexibility Alex Schoch said: “We’ve empowered customers to take an active role in the energy system by standardising the process with National Grid and using cutting-edge technology. This will accelerate the transition to a cheaper and more sustainable future.

“This bottom-up approach to energy transition benefits consumers and drives down system costs, ensuring that everyone profits from the shift towards electric transport.”

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From today, drivers at the firm, claimed as London’s largest for premium private hire, courier and non-Hackney black taxis – will get access to Octopus Energy’s EV roaming service, Octopus Electroverse.

Electroverse’s ‘one card, one app’ model means Addison Lee drivers no longer need to download multiple apps and subscriptions. This deal enables them to power up with just one simple tap at most charge point brands in the capital.

This partnership also means Addison Lee drivers will get up to 24% off their charging costs at thousands of Source London and MFG EV Power charge points across London.

Now operating what it claims is the capital’s largest sustainable road fleet, over the last three years AL has spent £80 million to upgrade its vehicles.

The firm offers fully electric and zero emissions-capable vehicles from executive, premium cars, to black taxis. Its offering includes 600 PHEV VW multivans, Audi A6s, and A8s, in addition to the 1,000 fully electric VW ID.4s.

The deal comes as Octopus’ public charging offering has nearly tripled its customer base in twelve months. The disruptor says it is now the UK’s biggest EV roaming service.

Addison Lee CEO Liam Griffin said: “As the first private hire operator in London to introduce EVs at scale, we have been a pioneer of electrification. This also means that we have seen first-hand the difficulties that private hire drivers face when it comes to finding reliable and available charging infrastructure.

“Over the last three years, we have committed to supporting our drivers in this ongoing challenge. We are pleased to add Octopus Energy to our range of strategic charging partnerships.”

Octopus Electroverse director Matt Davies replied: “Addison Lee has taken brilliant steps towards electrifying its fleet. We’re excited to now give their thousands of drivers access to our super-simple EV charging experience, as well as discounts on key charging networks.”

Octopus says its Electric Vehicles division is now the UK’s largest EV-only leasing business. The company also pioneers smart tariffs for EVs.

Last month, Octopus launched the UK’s first mass market vehicle-to-grid tariff, Octopus Power Pack, enabling free home charging.

Eligible taxi drivers will be contacted directly by Addison Lee to access this Electroverse deal. Electric car drivers more broadly who are interested in signing up to Electroverse can do so via the Electroverse website, or the Electroverse app.

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The deal sees Octopus’ Sky fund (ORI SCSp) take a 50% stake of Lintas Green Energy, an Oldenburg-based experienced and fast-growing green energy developer to accelerate their growth across the country.

The investment will help build new wind and solar farms, targeting 1 GW by 2030 – enough clean energy to power 370,000 German homes.

Lintas has already built green energy projects in areas like Lower Saxony. The state last year covered 100% of its electricity demand from its own renewable generation for the first time.

The developer currently has more than 20 green energy projects in its fast-growing pipeline across several more states, including Hesse, Bavaria and Saxony-Anhalt.

Octopus’ funding will enable it to expand further and form energy supply deals to help energy-intensive businesses decarbonise their operations.

The news comes as Octopus ramps up its renewables activity in Germany, with plans to channel more than €1 billion into the country’s clean energy infrastructure by 2027.

Octopus entered Germany’s renewables market in June 2022 and has rapidly accelerated its projects. This is Octopus’ 8th investment in the market and follows hot on the heels of its acquisition of Schiebsdorf solar farm, the largest solar farm in its portfolio.

Octopus is also partnering with major German corporations to help them cut emissions. Just last month it struck a deal with one of the country’s largest steel producers, Salzgitter Group, to supply it with solar energy for the production of green steel.

Alex Brierley, co-head of Octopus Energy Generation’s fund management business, said: “Germany has been a leader of the global ‘Energiewende’ since the 80s. We’re proud to be able to help the country speed up this transition by backing green projects and developers that are driving a cleaner, cheaper future.

“This latest deal with Lintas Green Energy is our 8th renewables deal in Germany and our first investment in a company creating new green power – and it won’t be our last.”

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Octopus Electroverse, an award-winning electric vehicle (EV) charging platform, will sync with AeroVolt, the first ever aircraft charging network.

Through this partnership, pilots of electric planes will get access to Electroverse’s easy charging experience at AeroVolt’s airside chargers around the country.

The innovation is the next step in Octopus’ plans to rapidly accelerate the adoption of electric transport.

It comes as studies have shown that electric planes – typically small two-seater planes that do short flights – have a lower climate impact compared to their fossil fuel powered peers.

AeroVolt has charge points installed at seven sites in the UK, including at Bournemouth, Lydd, Dunkeswell, and Shoreham airports, with 12 more to come online soon. The disruptor is already in talks with nearly 70 more airports looking to have chargers installed.

Electroverse – the biggest EV roaming service in the country – has revolutionised on-the-go charging for drivers of electric cars, removing the need for multiple apps to access different charge point brands through its ‘one card, one app’ model.

Pilots who are also Octopus customers enjoy the added benefit of syncing up their public charging costs onto their existing home energy bill, in one simple payment.

This move is the next step in Octopus Energy’s activities to help speed up the transition to green transport. Its Octopus Electric Vehicles division is now the UK’s largest EV-only leasing business and the company is a pioneer in smart tariffs for EVs.

It manages 1GW of shiftable load through its Intelligent Octopus Go tariff, using the company’s cutting-edge tech platform Kraken to charge EVs when it’s cheapest and greenest. Earlier this month the company launched the UK’s first mass market vehicle-to-grid tariff – Octopus Power Pack – enabling free home charging for drivers.

Zoisa North-Bond, CEO of Octopus Energy for Business, said: “We are at the forefront of the transition to green transport. It’s incredible to think our skies are cleaner with each new electric plane, and we’re thrilled to make the journey easier for pilots, extending our seamless charging experience for electric cars to electric aircrafts. With just a tap of their Electroverse card, pilots can plug in and power up. This is the start of an exciting transition as we’re set to supercharge the take-off of e-mobility.”

Guy Haydon, AeroVolt’s chief commercial officer, said: “As the world’s first aircraft charging network, AeroVolt is on a mission to transform the future of flight with our simple and easy to use network of rapid chargers across prime airfield locations. This exciting partnership with Octopus will both bring AeroVolt’s car chargers into the Electroverse and deliver a market leading aircraft charging experience to electric pilots. True interoperability, charging both your wheels and your wings.”

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Extra power needed by such clean tech upgrades can mean that the fuse controlling a home’s incoming power would need to be upgraded by the local distribution network operator DNO.

Empowering Octopus’ installers to accommodate such devices overcomes the problem.

The two companies have signed a new agreement, allowing Octopus Energy engineers to upgrade the fuse themselves at the same time as they are installing heat pumps, EV chargers and solar panels in their customers’ homes.

Octopus says the deal removes a step in the process that could add up to 10 weeks to the installation.

As well as running Britain’s transmission backbone, National Grid is the distribution network operator (DNO) for the Midlands, South West England and South Wales. It invests £1 billion every year in its distribution grid.

Following discussions, NG’s DNO has also pre-approved the heat pumps installed by Octopus Energy for connection across their DNO network. The power retailer claims this potentially saves up to five weeks of delays.

The improved process builds on a similar pilot conducted last year between Octopus and UK Power Networks.

Via the 2023-2028 ED2 regulatory settlement, National Grid Electricity Distribution has committed to ensure customers are able to connect to low carbon technologies quickly and easily. Under the deal, the DNO must have its network ready by 2028 to support at least 1.5 million EV chargers and 600,000 heat pumps.

Cordi O’Hara of NGED commented:  “Over the last five years we’ve seen the number of EV chargers installed increase by eight times, and the number of heat pumps triple. These new changes to the fuse upgrade process are part of NG-ED’s commitment to make it even easier for customers to connect low carbon technologies.”

Alex Schoch, Octopus’ head of flexibility responded:  “We have shown that by working together, DNOs and installers can bring heat pumps, EVs and solar into homes faster and cheaper, turbocharging the UK’s move to an electrified future.

“By upgrading fuses alongside clean tech installations, we are not only saving NGED resources, but also giving our customers back valuable time. It’s a win-win that highlights how critical collaboration is on our path to net zero.”

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The PV farms total 199MW in capacity and generate power for a notional 50,000 homes. Following the latest buy, ORIT’s total capacity of operational renewable energy assets reaches 735MW.

The PV farms entered commercial operations in late December 2023. The acquisition cost was part funded using a €80.6m debt facility provided by Allied Irish Banks and La Banque Postale.

Microsoft committed eighteen months ago to a 15-year PPA to offtake the farms’ electricity, securing future revenue for ORIT from the solar complex.

A nearby fifth site totalling 42MW currently under construction is set to become operational this year.

Under a similar arrangement to the first four sites, ORIT will acquire this project once it becomes operational, expected to be around Q3 2024, and this will be partly funded through an increase to the debt facility by up to €25.8m, which has been pre-agreed with the lenders.

Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented: “We are pleased to have completed this substantial acquisition, which sees ORIT become the owner of Ireland’s largest solar complex which will deliver a substantial amount of green electricity”.

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The offer includes charging discounts and credits, as well as reduced prices on home charging equipment for cab drivers on the Gett platform.

Octopus says its EV charging platform Octopus Electroverse is integrated with most charge point brands in the capital.

As part of today’s tie-up, taxi drivers will get exclusive discounts when they charge up at thousands of Source London and MFG EV Power charge points across London.

As well as easier and cheaper public charging through the Electroverse EV roaming service, Octopus is also making getting a home charger simpler for Gett’s taxi drivers.

Octopus will install chargers at cab drivers’ homes, where they can then sign up to Octopus’ EV smart tariff Intelligent Octopus Go and enjoy cheaper, greener charging. Customers on this tariff also get an extra 8% off all their public charging costs on Electroverse.

Drivers who are Octopus customers have the option to link all of their public charging costs onto their existing home energy bill, putting their electricity costs in one simple payment.

Electroverse’s ‘one card, one app’ approach has removed the need for multiple subscriptions. Octopus claims uptake by over a quarter of Britain’s EV drivers, making it the nation’s biggest EV roaming service.

The latest partnership follows Gett’s other incentives for drivers, including vehicle maintenance discounts, monthly drop-in sessions and lotteries.

Matt Davies, Director of Octopus Electroverse, said: “We’re making it even easier and cheaper for London’s iconic black cabs to go electric – an integral part of green mobility in the UK’s capital. Our new Gett partnership will transform EV charging for thousands of electric taxis and give drivers straightforward access to fantastic charging deals.”

Harjit Dhami, Global Head of Procurement at Gett commented: “We are really pleased to launch this offer for the drivers on the Gett app. The partnership will provide access to nearly 9,000 public charge points in London alone and will help to reduce downtime for black cab drivers. The number of e-black cabs has been growing steadily over the past few years and we are keen to play our part in accelerating the transition to a 100% electric future.”

Electroverse’s features embedded to improve the charging experience, including its interactive global map that shows charge points and their availability, a route-planner, in-car support with Apple CarPlay, Android Auto, Plug & Charge support, and more.

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Customers that turn down their usage an average of 0.7kWh per session across all sessions will earn back enough to offset the £24 price cap rise, the supplier asserts.

Over 313,000 ‘Saving Sessions’ customers are expected to earn this amount before the end of this year’s demand flexibility service on March 31.

‘Saving Sessions’ was the first consumer flexibility project to be announced after National Grid’s Demand Flexibility Scheme launched in November 2022.

In 2023 more than 700,000 of Octopus’ smart meter customers signed up to turn down their energy usage, earning a combined £5.3 million over the course of last winter.

This year’s ‘Saving Sessions’ has already eclipsed the last. Over 1.2 million customers are now signed up and have already earnt £4m in just 10 possible hours of activity. Analysis as as below.

This year, customers are rewarded with ‘Octopoints’ as part of its recently announced rewards scheme, ‘Octoplus’. The number of ‘Octopoints’ earned varies based on the specific event, and streak bonuses and prize draws are up for grabs for those participating in multiple sessions in a row.

Octopus is now extending versions of the UK scheme to its French and American customers.

Rebecca Dibb-Simkin, the supplier’s chief product officer, commented: “With millions of our savvy customers enjoying cashback for reducing energy usage, more and more can beat the price cap in the depths of winter – while also helping the grid!

“Through ‘Saving Sessions’, smart tariffs and demand flexibility, we’re creating a brand new energy system that has customers benefiting at the heart. We’re imploring as many customers as possible to get involved and turn down as much as possible so that the price cap rising won’t seem so daunting.”

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The developer-generator entered in 2020 into a conditional agreement to buy rights to the sites, but has re-considered its plan.

Exiting the option now at a value above its holding value was a more attractive proposition than committing to the projects’ construction, the investment trust said today.

Octopus Renewable Investment Trust said it had recovered its initial deposit paid and negotiated a termination payment from the vendor.

The moves result in a net gain on the investment, ORIT said, of approximately £3.0m over the €2.0m initial deposit, equivalent to approximately £1.5m over the £3.2m holding valuation of the option.

ORIT chairman Phil Austin commented: “Exiting this option demonstrates ORIT’s ability to remain flexible as market conditions change and reflects our disciplined approach to capital allocation, allowing us to capitalise on opportunities to enhance value for shareholders when the right deals arise.”

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