Octopus Energy has handed a staggering £500,000 worth of energy savings to its customers, new data shows.
The initiative, which invites all ‘Octoplus’ customers with a smart meter to join Free Electricity Sessions, saw nearly 750,000 participants take advantage of the offer.
Over the course of the first six sessions, the top five percent of customers managed to save £9.42 on average, which breaks down to £1.57 per session.
In addition to the financial benefits, the sessions resulted in the use of 2.2 gigawatt-hours (GWh) of renewable energy that would have otherwise gone to waste.
According to the provider, this amount of energy is equivalent to powering a city the size of Birmingham for nearly seven hours.
Kieron Stopforth, head of flexibility at Octopus Energy, said: “With nearly 750,000 customers plugging into free electricity that would otherwise go to waste, we’re witnessing a game-changing shift toward a cleaner, smarter grid.
“By embracing renewable energy when it’s abundant, our customers aren’t just reducing their bills, they’re actively driving the energy transition the UK desperately needs. It’s proof that the future of energy is green, decentralised, and customer-driven.”
Octopus Energy re-launched its Octoplus Free Electricity scheme in August, which gives eligible customers cost-free electricity when the wholesale price drops significantly or turns negative.
Eligible customers receive advance notice the day before each session. When the time comes, they can power up their appliances—whether it’s charging devices or doing multiple loads of laundry—without incurring any additional cost for the extra electricity used.
Within a week of the session, Octopus Energy will email customers to provide details on their extra power usage compared to normal. Within two weeks, the company will apply the corresponding amount as a bill credit to the customer’s account.
This initiative is open to all Octoplus customers who have an active direct debit or smart prepayment plan and a smart meter.
