Octopus Energy and EDF launch new campaign to help ‘significantly’ lower bills | Personal Finance | Finance
Octopus Energy and EDF have joined forces to launch a new campaign to drive “electrification” across the UK.
The campaign, Electrify Britain, calls to drive down energy bills and “eliminate” emissions from home heating, transport and local communities through widespread electrification.
According to the energy giants, electrified homes that use heat pumps can save “hundreds of pounds” compared to gas boilers. Meanwhile, electric vehicles (EVs) are thought to be £1,000 cheaper to run annually compared to petrol vehicles.
They add that electrification is also “crucial” to achieving net zero emissions. Currently, transport accounts for 23 percent of UK emissions, and domestic heating contributes 15 percent.
To get the wheels in motion, the providers are first calling on the new Government to cut household bills by reducing the burden of policy charges on domestic electricity bills.
They’re also calling for the end of gas boiler installations in new homes and to build well-insulated homes “with electricity at their core”.
Greg Jackson, CEO of Octopus Energy said: “Our businesses deal with millions of customers, and we know that when households go electric, they never look back because it’s cheaper and better.
“There’s been so much focus on electrifying generation, but not enough on electrifying end use, where customers can make significant savings.
“Electric cars on a smart tariff cost seven times less per mile than a petrol car. People with heat pumps usually pay less than those with gas boilers and they rate their heat pump higher. It’s time for us to seize the benefits of electrification for British customers.”
Simone Rossi, CEO of EDF in the UK, added: “We are launching a joint campaign because there is no time to wait.
“Britain’s energy market is still fragile to external shocks and at the same time, we are seeing the impacts of climate change. We need more electricity but less CO2, we need to Electrify Britain.
“The first priority is to make electricity pricing fair by rebalancing policy costs, and the second is to ensure new homes are green and electric from day one. The future is electric, and we need to act now.”
