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Jaime Jessop's avatar

This, in the Telegraph:

At this time last year, more than 2m consumers had signed up to the so-called demand flexibility service.

But today the figure stands at about 750,000, a drop of about 62pc, according to the National Energy System Operator (Neso), which manages Britain’s power grid.

It follows a decision to slash the payments offered to customers by as much as 90pc.

Energy industry insiders said the decision had dented the attractiveness of the scheme, leading to a lacklustre take-up from most suppliers.

‘Steep’ fall in rewards

Octopus Energy, Britain’s biggest electricity supplier with around 6.8m customers, accounts for 740,000 or about 99pc of sign-ups this year – a total almost entirely made up of households rather than businesses. That was also down from around one million the company signed up last year.

Kieron Stopforth, of Octopus Energy, warned that the rewards offered to consumers had fallen off “quite a steep cliff” this winter.

Whereas last year consumers could receive up to £4 for every kilowatt hour of electricity they saved, Octopus said it was only able to pay around 60p per kilowatt hour this week under the latest version of the scheme.

Mr Stopforth said: “There’s a lot of latent interest and we think customers are really excited about the potential of demand flexibility. But if they don’t see the benefits, then they’re not going to participate.”

https://www.telegraph.co.uk/business/2024/12/15/net-zero-target-threatened-electricity-rationing-scheme/

Not looking good for the fluffy pink Octopus.

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Lapun Ozymandias's avatar

Listen-up my dear fellow Substack patrons – this post must be one of the slickest things I have read for some time. For a start, one of the defining characteristics of the majority of us deplorables here in Australia – you know, the descendants of the British underclasses who were exported from Mother Britain to the antipodes two centuries ago - is that most of us were born with inbuilt bullshit detectors. After reading this, mine is stuck at full deflection. A power company called “Octopus Energy” run by a female CEO whose technical qualifications lie in History-Archaeology and goes by the name of ‘Zoisa North-Bond’ - and who is pushing ‘Green Electrons’ !!! C’mon Substack patrons – this article could only be a latter-day attempt to stress test a new Monty Python script. Either that or ‘Octopus Energy’ is actually part of the Royal investment portfolio of King Charles III.

PS: I did think that the correspondent by the name of ‘letcowsfartinpeace’ was a masterful touch – and I am still laughing…

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