The UK's biggest energy supplier is the latest to commit to paying families to cut their electricity usage during peak times this winter, it has been announced.
British Gas, which supplies power to more than seven million homes, has joined Octopus and Ovo Energy to launch a scheme aimed at preventing power shortages in Great Britain in the coming months. The initiatives are in response to warnings from the National Grid ESO that this winter could be challenging for energy supplies throughout Europe, though the operator has stressed blackouts are an unlikely "worst-case scenario".
While both Octopus and Ovo have already announced details of their plans, details about the British Gas scheme have yet to be unveiled. However, as the scheme is based on tracking usage during specific times of day, only British Gas's 3.5m smart meter customers can take part.
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All three of the schemes ask you to reduce your electricity consumption during certain periods, but how this will work depends upon which supplier you are with, as will how much money you can save.
British Gas
British Gas is aiming to start trialling its scheme "later this year", but was unable to confirm an exact date. You can't register yet, but if you opt in once it's launched, you'll be asked to reduce your usage during peak times (probably between 4-7pm) by around 30% – though this could change, as the details are still being finalised. The company hasn't yet confirmed how much its customers will be able to earn.
Octopus Energy
Octopus Energy 's 'Savings Sessions' scheme started on November 1 and runs until March 31, 2023. If you are one of Octopus's 1.4m customers with a smart meter, you can sign up online and wait for an email and app notification in advance, telling you when to use less electricity to earn money. This is likely to include the evening peak of 4-7pm, though it could vary, and you'll need to opt in to each session or you won't earn the reward. Octopus says the average home will be able to earn around £36 in total, but it could be up to £100, depending on your usage and the number of times you're prompted to cut it. Octopus says it expects around one or two sessions per week. Rewards will be paid as 'OctoPoints', which you'll be able to redeem to your energy account as credit in pounds.
Ovo Energy
Ovo 's 'Power Move' trial launched on November 1 and will also run until March 31, 2023. It has 7,000 participants and applications are now closed. Families will be asked to cut their consumption between 4pm and 7pm. The firm says the average household uses 19% of their daily total usage during these hours and it will be asking participants to reduce this to less than 12.5%, which, according to Ovo, is the equivalent of moving three loads of washing per week from peak time. Ovo will pay you a flat reward of £20 each month if you meet the goal, up to a total of £100, paid directly into your energy account as credit.
National Grid is working with energy firms and industry regulator Ofgem to roll out its scheme more widely, and Eon/Eon Next and EDF have also told Moneysavingexpert they plan to join the initiative but there are no further details right now. Scottish Power, So Energy and Utility Warehouse have all ruled themselves out of taking part this winter, but have said they may in the future.
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