'Octopus Energy' pays more than £1 million to customers for saving energy

The British renewable energy group named "Octopus Energy" has paid more than £1 million to the customers who were a part of the new pay-not-to-play scheme. The scheme is trialled by the National Grid, and consumers who took part will be given money for every unit which they did not use under the scheme.

As per the scheme, a bunch of businesses and households reduced their electricity consumption during the scheme when it was carried out. Among the service providers, Octopus consumers have been the most engaged.

"We are proud to have pioneered this trailblazing scheme, which is paving the way towards a smarter, greener, and cheaper grid for all," Alex Schoch, head of flexibility at Octopus said.


The company said that the program was introduced a little over a month ago and the top-performing households have saved as much as £20.

"This is a massive milestone. Across just four hours, we’ve been able to pay out £1 million to our customers," said Alex Schoch, head of flexibility at Octopus said.



“Normally, this money would have gone to businesses or dirty gas power plants to balance energy demand. Instead, it’s helping people lower their energy bills this winter. We are proud to have pioneered this trailblazing scheme, which is paving the way towards a smarter, greener, and cheaper grid for all," Schoch added.

"And we’re glad that other energy suppliers are now getting involved, allowing even more people to grab a bargain and lower bills for everyone," Schoch said.

More than 250,000 households, earning an average of £4 have participated in the scheme, said the company.

FAQs:

1. What is Octopus Energy?
   Octopus Energy is a British renewable energy group.
2. How many households participated in the scheme?
   More than 250,000 households, earning an average of £4 have participated in the scheme.