New research by OVO Energy has found 83% of households would be willing to reduce their energy consumption between 4pm and 7pm to receive cash back, underpinning the launch of its “Power Move” flexibility trial.
This figure increases to 90% of respondents that have an annual income of under £20,000, showcasing the potential of its new demand flexibility scheme.
In a bid to reduce energy demand this winter, OVO has today launched a demand flexibility initiative, dubbed Power Move, aimed at reducing demand on the energy grid and providing up to £100 in savings for households this winter.
The trial will have an initial 7,000 participants, however if the scheme was rolled out to all of OVO’s customers, it could potentially save £450 million every winter.
The trial will gather data to strengthen the company’s understanding of energy usage during peak times, which will help OVO create further offering to support a greener and more resilient energy system. The trial will run until March 2023.
“We’re heading into a critical moment for the UK energy sector, and we need a resilient grid to support households through this winter,” said Raman Bhatia, CEO of OVO Energy.
“It’s testament to our customers’ willingness to support new trials and engage with their usage that we’ve surpassed the target of trialists. We hope the results of this trial will give customers a deeper insight into how they can support the wider system, with potential savings to help over winter.”
Shifting demand to ease the strain on the grid is being explored by a number of parties currently. National Grid ESO is introducing a Demand Flexibility Service for example, which will reward customers for turning down their use during preset times between 4pm and 7pm.
This service has been rapidly designed and developed, and will be contracted to run for an initial period of November 2022 to March 2023. Those taking part will be given 24 hours to react to signals from the operator.
It was announced at the beginning of 2022, and has now been trialled together with Octopus Energy amongst others.
