Saving Sessions: One million Octopus customers join revolutionary energy flex scheme

• One million Octopus Energy customers already signed up to shift electricity usage from peak times and earn rewards
• First ‘Saving Session’ for Octopus customers to take place tomorrow (16th November) between 17:30-18:30
• Ground-breaking scheme reduces costs for customers and system as a whole

London, 15th November 2023 - Octopus Energy’s revolutionary demand flexibility scheme goes into the second round, with more than one million customers already primed to move their electricity usage out of peak hours in return for exciting rewards.

This winter’s first ‘Saving Session’ will take place tomorrow (16th November) between 17:30-18:30. Participants who have signed up to the scheme will be notified this afternoon via app or email.

Launched last year as part of the National Grid ESO's Demand Flexibility Service (DFS), ‘Saving Sessions’ marked the UK's first nationwide household demand flexibility initiative.

Over the course of last winter, £5.3 million in savings was passed onto 700,000 Octopus Energy customers. The top 5% of participants enjoyed average savings of over £40.

Even before this year’s first Session, Octopus has already eclipsed last year’s sign up numbers. With 2.6 million Octopus smart meter customers eligible to join the initiative, anyone not yet enrolled can do so at any point over winter.

Customers will be rewarded with ‘Octopoints’ as part of its recently announced rewards scheme, ‘Octoplus’. The number of ‘Octopoints’ earned will vary based on the specific event, and streak bonuses and prize draws will be up for grabs for those participating in multiple sessions in a row**.

In addition, Octopus Energy is introducing 'Surprise Sessions' this year, notifying customers at shorter notice but offering bigger rewards. These ‘Sessions’ will provide an exciting opportunity for customers to contribute to a cleaner energy system, while getting their hands on some cool prizes.

The Octoplus rewards scheme will allow customers to exchange their Octopoints for account credits, and soon, for charity donations or exclusive merchandise, among other options.

Alex Schoch, Head of Flexibility at Octopus Energy, said: “Saving Sessions is back with a bang this winter and our customers are clamouring for more. We’re incredibly proud of the passion Octopus customers put into ‘Saving Sessions’, and even more excited to be able to offer more ways for customers to earn through ‘Surprise Sessions’ this year.

“Over one million Octopus Energy customers will now contribute to cost savings in the system and accelerate our transition to a clean, fossil-fuel-free grid by reducing electricity consumption during peak hours.”

For more information on this winter’s Octoplus Saving Sessions check out the webpage here.

-ENDS-

Notes to editors:

** Octopus Energy will analyse the customers’ historical smart meter data leading up to a Session, and calculate each participant’s average energy use at that time of day.

If the Session:

• Falls on a weekday, Octopus will analyse half-hourly usage over the previous 10 weekdays (excluding Saving Session days).
• Falls on a weekend, Octopus will analyse half-hourly usage over the previous 4 weekend days.

Octopus will then use these half-hourly averages as a benchmark, so customers will earn Octopoints for every kilowatt hour they save compared to the benchmark.

Press Contacts

Octopus Energy Group

Press team

press@octoenergy.com

+44 (0)20 4530 8369

About Octopus Energy Group

Octopus Energy is a global energy and technology group, driving the affordable, green energy system of the future. Its operations span 17 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.

Octopus serves 5.9 million customers globally through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support 40 million customer accounts worldwide through licensing deals with companies such as EDF, E.ON and Origin Energy, with the potential for further 10 million to follow soon.

Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide.

For more information, check out our website.