Most British energy companies have expressed their willingness to pay extra to citizens for not using electricity, especially during peak consumption hours. In this way, suppliers hope to encourage citizens to consume less, which in turn will avoid power outages in the country. This is reported by Bloomberg with reference to the CEO of one of the largest electricity generating companies in the UK National Grid, John Pettigrew.
According to him, "most electricity suppliers" have agreed to join the announced scheme, which was launched last week. The essence of the program is simple – the British will be paid extra for the use of electricity during off-peak hours in order to reduce the load on the power grid. Each energy company will determine the amount of compensation or consumption discounts independently.
“We are very pleased with the agreement. I hope the benefits will only increase in winter,” Pettigrew said, expressing the hope that such measures will allow the winter to pass without interruption.
The redistribution of consumption will allow the UK energy system to work more efficiently and evenly, market participants are sure. Consumption peaks traditionally occur in the evening, when people return home, turn on the lights, heating and electrical appliances, and the owners of electric cars put their cars on charge. However, the publication notes that the program has so far been operating at full capacity only for one company – Octopus Energy, which has begun offering its benefits to customers. Ovo Energy and Eon have launched their own similar initiatives that are not really related to the National Grid proposal. British Gas has also announced publicly that it has joined the initiative, but has not provided any pricing details.
Pettigrew hopes that the program proposed by his company will initiate a global review of the country's electricity consumption. The CEO of National Grid is sure that the current crisis will push the market towards “smart consumption”, which will allow redistributing consumption flows. As an example, he cited smart chargers for electric vehicles that would be activated during hours when energy is cheap and an increase in consumption does not overload the network.
European countries, including the UK, are bracing for one of the harshest winters in decades. Due to the decline in Russian gas supplies, the cost of heat and electricity has risen to multi-year highs, moreover, the energy crisis has made a significant contribution to inflation in Europe, which has significantly affected the financial situation of many citizens. The authorities of the countries are looking for all sorts of ways to reduce consumption and pressure on the wallets of their citizens.