Octopus Energy

“Malevolent leaders” thousands of miles away with a grip on our energy bills. Perfect Halloween material, if only it were made up. Tomorrow’s Budget decides the future of the Boiler Upgrade Scheme (BUS), the government grant that knocks thousands off the cost of a heat pump. (1/5 🧵)

Heat pumps used to be for posh renovations. Now they’re going into ordinary homes, and data from every Octopus heat pump shows heating bills 20 to 40% lower than gas. (4/5 🧵)

“Malevolent leaders” thousands of miles away with a grip on our energy bills. Perfect Halloween material, if only it were made up. Tomorrow’s Budget decides the future of the Boiler Upgrade Scheme (BUS), the government grant that knocks thousands off the cost of a heat pump. (1/5 🧵)

The BUS is one of the best-value policies Britain has, and the clearest way to loosen that grip. In the @theipaper.com this morning, @gjuk.bsky.social pointed to China’s boom in EV’s. In 2010, the gov't there gave people a hefty discount on electric cars & built the chargers to match. (2/5 🧵)

It’s thanks to the Boiler Upgrade Scheme that tens of thousands of homes across the UK have been able to move away from gas. This programme is working, and we must continue to back it.

With the Budget announcement fast approaching, it’s more important than ever that homeowners are supported to transition to heat pumps that can cut their bills, keep them cosy and protect them from gas shocks.

Tesla vs milk float. That’s how far heat pumps have come. On The Times Radio this morning, our CEO @gjuk.bsky.social took on one of the most common heat pump myths: that they only work in very specific types of (new) homes. (🧵 1/4)

Thousands of installers have been trained in recent years, and British manufacturers, including us, are building heat pumps designed for British homes. (🧵 3/4)

Tesla vs milk float. That’s how far heat pumps have come. On The Times Radio this morning, our CEO @gjuk.bsky.social took on one of the most common heat pump myths: that they only work in very specific types of (new) homes. (🧵 1/4)

Ten years ago, the EV wave was just beginning. Today there are over 2 million on the roads and the cheapest new car is electric. Heat pumps are having the same moment now. (🧵 1/3)

On Sky News this week, Greg made the case for speeding up the replacement of gas in Britain. Hundreds of thousands of heat pump households are already set to save money this winter through smarter, cleaner heating. (🧵 2/3)

The last energy crisis cost Britain £40 BILLION 💸 and just a few years later we’re facing another one. Heat pump support like the BUS grant costs exponentially less, and it tackles the real problem: our dependence on gas. (🧵 1/3)

Greg was on Channel 4 yesterday breaking down how Jackdaw is good short-term, but backing heat pumps is the only way long term. Essentially: cheaper bills. Stronger energy security. And, building British innovation & jobs. (🧵 2/3)

The new gas field isn’t going to bring down your bills. Gas is bought & sold globally, so the reality is, fossil fuels controlled by dictators have Britain in a chokehold til we fully embrace gas-free driving & heating and cut the link between electricity and gas. (🧵 1/2)

"Is it actually realistic to get off gas?” Octopus CEO: yes. In some places, it’s already a reality. In Norway, 97% of new cars are EVs and 66% of homes have heat pumps. Their bills are largely sheltered from the gas crisis this winter. Britain's got to catch up.

Two gas crises within a decade with no end in sight — and still, some think gas heating is the answer. China’s EV wave started with subsidies, now they’re reaping the benefits. Greg writes on how Britain’s got to back itself on heat pumps 👇

😁 Weekend Happy Hours Reminder 😁 Book in your free power hour for the weekend! Booking your slot is easier than getting a Glasto ticket & there's no green loading bar… Show us what you get up to using #OctopusHappyHours 🤳

"Standing charges are out of control. 📢" They're the most talked-about topic in energy bills and most countries have them too, with lower bills than ours. The gap isn’t inevitable, and it can’t really be solved by moving costs around.

We need policies that actually shrink the high fixed costs in the energy system (like maintaining & building out the grid, and topping up supply with expensive backup gas at peak times) so we all bear less of them. Follow us for more on standing charges, coming soon.