Octopus Energy customers can now enjoy a new plan that promises they won’t have to pay any monthly fees for their electricity.
Octopus Energy Cuts Monthly Bills to £0 for Customers for Five Years
By Lydia Amazouz
Published on 28 September 2024 11:47
Octopus Energy customers can now benefit from a new tariff that ensures they will not have to pay any monthly charges for their electricity.
Octopus Energy Unveils Zero Bills Tariff for Homes with Renewable Energy Systems
Octopus Energy has introduced a new tariff, called Octopus Zero Bills, which promises that customers won’t pay anything for their energy for five years, according to Express. This initiative is being run in partnership with housing developers and is aimed at homes equipped with renewable energy technology.
Houses that include features such as solar panels, heat pumps, battery storage, and electric heating will be eligible for the scheme. The renewable energy generated by these features will power the home, eliminating the need for traditional energy bills during the five-year period.
Heat pumps run on electricity and work by taking air from outside, heating it, and then moving it into your home. While they cost more than a boiler to buy, there are grants available to help lower the cost of installing one. The goal is for heat pumps to eventually replace traditional fossil fuel boilers. Solar panels, especially when combined with a battery, will pay for themselves over time, even without considering the savings from the Octopus Energy offer.
Octopus Energy’s Zero Bills Plan Aims to Cut Carbon Emissions in UK Homes
Octopus Zero Bills offers households five years without paying for energy, the energy provider believes this marks an important step toward reducing the carbon footprint of domestic heating.
Octopus Energy stated: “We've just launched Octopus Zero Bills, the next generation energy tariff with zero energy bills for five years, guaranteed, for new homes kitted out with the right combination of solar panels, home battery and heat pump.
“It’s not magic, but could just as well be. If you live in a brand new, specially built Zero Bills home, you'll not receive an energy bill - no costs, no worries.”
Octopus went on to say: “With domestic heating currently responsible for 14% of the UK’s total carbon emissions alone, Zero Bills represents a crucial step on our journey to net zero. First, we’re taking on newbuild homes – all 200,000 of them built each year in the UK. But we’re also working hard to maximise retrofit applications of Zero where possible. With the UK’s housing stock recently ranked the worst in Europe, we’ve got no time to lose.
“By Zero-ing energy bills for eligible households, we’re hoping to give our customers one less thing to worry about. And while we can’t change the system overnight, the good news is that we’re fast approaching cost parity between low-carbon tech and their gas-guzzling counterparts – meaning that a zero carbon, zero bill world is far from a distant reality for everyone.”