Octopus Energy has announced it will trial a retrofit offer as part of its ‘Zero Bills’ homes initiative, guaranteeing upgraded households no energy bills for five years.
Octopus is working with Suffolk County Council, which is offering a £15,000 interest-free Warm Homes Loan, to encourage Suffolk customers to join the trial using the loan to install rooftop solar and battery storage.
The energy company will upgrade existing homes by installing green technologies—a heat pump, a battery storage system and solar PV equipment—to meet Octopus’ Zero Bills standard.
Councillor Philip Faircloth-Mutton, Suffolk County Council’s cabinet member for environment, communities and equality, said the authority was pleased to be the first to work with Octopus on Zero Bills, adding: “We appreciate the role we have as local authority to be able to lead, influence and support local residents in as many ways possible to help reduce both their energy bills and their impact on the environment.”
Customers who live in homes built since 2015 are eligible for involvement, but Octopus said it estimates 500,000 UK properties built since 2013 could be eligible to be upgraded to Zero Bills.
Octopus is aiming to roll out the initiative to 100,000 homes by 2030 and has taken the scheme overseas to Germany and New Zealand. Currently the energy supplier has accredited over 1,200 Zero Bills homes through contracts with housing developers.
Nigel Banks, Zero Bills director at Octopus Energy called Suffolk County Council’s “innovative approach” the “next step” in making Zero Bills accessible to more people.
Last week, Octopus partnered sustainable-focused building contractor gs8 to develop its largest Zero Bills site. Unlike other Zero Bills housing initiatives, which have seen the houses fitted with battery storage, the development built by gs8 will instead feature a centralised battery and microgrid, which Octopus said will allow solar to be “seamlessly shared” between households.
Home energy bills increase
Earlier this week, the price cap for home energy bills set by the UK regulator rose 6.4%. Ofgem’s CEO, Jonathan Brearley, acknowledged the “challenge” of the cost of energy for many households, “but our reliance on international gas markets leads to volatile wholesale prices, and continues to drive up bills, which is why it’s more important than ever that we’re driving forward investment in a cleaner, homegrown system”.
A report released by Octopus Energy to coincide with the price cap announcement suggests that zonal pricing, suggested as part of the ongoing review of electricity market arrangements (REMA), could save customers between £55-£74 billion by 2050 on electricity bills.
Octopus Energy Group founder Greg Jackson commented: “Zonal unlocks massive savings by encouraging energy to be used nearer to where it’s produced, and at those times it is plentiful, rather than wasted.
