Energy tech firm Octopus Energy has launched a new tariff to help businesses with renewable generation to share the green power they generate on one site with the rest of their sites – and lower bills as a result.
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 even battery storage in one location to share it with their other sites. This new tariff can help businesses across sectors including agriculture, retail, logistics, warehousing, supermarkets, FMCG, and many more.
It builds on Octopus’ current suite of business tariffs including ‘Panel Power’, Octopus’ smart export tariff which pays solar-generating businesses 15p per kWh for excess energy they send back to the grid. ‘Max Power’ takes this a step further, so multi-site businesses can get the maximum out of the green power they generate by keeping it within their own business.
This is all made possible by Octopus’ proprietary tech platform Kraken. On Kraken, multi-site businesses are billed as one, making it easier to understand and manage their consumption.
It marks the latest way Octopus is enabling its business customers to benefit from new energy-saving initiatives to lower bills. For example, Octopus ‘Saving Sessions’ scheme enabled by the National Grid ESO’s new ‘Demand Flexibility Service’ allows business customers to get paid for shifting energy usage out of peak times.
Zoisa North-Bond, CEO of Octopus Energy for Business comments: “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.”
Businesses interested in signing up can find out more information here: https://octopus.energy/max-power/
*The exact savings will depend on the size of the business, its average energy consumption, how much renewable generation it has installed, among other factors. Businesses can maximise their savings even further by shifting energy to when they have excess renewable energy generated.