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Daily Mirror
Daily Mirror
Business
Sam Barker

Octopus Energy is slashing £350 off energy bills - but it depends on where you live

Households can get up to £350 off their energy bills under an expanded scheme from Octopus Energy.

But it all depends where you live.

Octopus has a "Fan Club" that gives cheaper electricity if you live near wind turbines.

The energy tariff is already available in two locations, but now Octopus has launched its third local tariff in Halifax in Yorkshire.

When the wind blows, the unique tariff can provide customers in the HX2 postcode area of Halifax with a discount of up to 50%off the unit rate, which the company estimates can save households around £350 on their annual bill.

The other areas providing customers with cheaper electricity are in Market Weighton in East Yorkshire, and Caerphilly in South Wales.

First launched in 2021, customers in these areas get 100% renewable electricity whenever their local turbines - which can power 800 homes - are spinning.

Now, up to 10,000 people have asked Octopus Energy to install a local turbine near their homes so they can have access to cheaper electricity.

Households need to live near wind turbines to access the deal (PA)

Zoisa North-Bond, chief executive of Octopus Energy Generation, said: “We’ve been blown away by the volume of requests and positive sentiment towards our Fan Club, which offers people 100% local green energy at discounted rates.

“Welcoming customers onto our Number 3 Fan in Halifax means more people can benefit from cheap, green energy when it’s abundant locally. This is especially important as people are facing much higher energy bills this winter.

“But we are not going to stop here – we are working round the clock to add many more wind turbines to our Fan Club model, putting money back into people’s pockets whilst driving renewables at scale.”

Energy bills could rise even higher than previously feared, reaching nearly £5,500 a year from the spring, experts warned.

Forecasters said that if gas prices don't drop in the next few months, the energy price cap could hit £4,650 in January and £5,456 by April - a mammoth £104 a week.

Energy consultancy Auxilione has warned that even when prices begin to fall next summer, they could still be thousands of pounds more than they are at the moment.

The next big hike for energy bills is expected in October, when regulator Ofgem reviews its price cap - affecting what more than 80% of the country pays for gas and electricity.

Fuel poverty will blight around 45million people this winter as families struggle to pay energy bills, research claims.

Two-thirds of households will be plunged into a financial abyss by January as the rocketing cost of living devastates budgets.

Worringly, 86.4% of pensioner couples will be affected.

But single parent households, with two or more children, will be worse off with 90.4% being forced to choose between heat or eat.

Some 77.4% of couples with two children will suffer the same fate, according to a study by the University of York.

Fuel poverty is defined as when energy costs exceed 10% of a household’s net income.

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