Archive

Daily Email

Events

 

 

 

About/Contact

Search

Texas Retail Provider Launches New Program Providing 50% Discount Under High Wind Power Conditions

April 20, 2023

Email This Story
Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The following story is brought free of charge to readers by VertexOne, the exclusive EDI provider of EnergyChoiceMatters.com

Octopus Energy launched a new residential electricity program (Fan Club) in Texas which Octopus called, "a unique electricity rate that provides savings when local wind turbines are spinning."

Under the program, for any electricity used while the wind is blowing and accounting for 30% of the grid’s generation, the customer's energy cost will be discounted by 20%, per Octopus Energy's website

When the wind accounts for more than 45% of the grid’s generation, the customer's energy will be discounted by 50%.

At other times, the customer will be billed their regular energy rate. Currently, the Fan Club can be added to Octopus's standard fixed Octo 12 plan or its month to month plan

The Fan Club will first be available to customers in South Texas (McAllen, Brownsville, Harlingen, Edinburg, and South Padre Island) while residents across the rest of Texas can sign up for a waitlist

"Legacy energy companies constantly think that the solution to a renewable energy grid is more fossil fuel supply," said Michael Lee, CEO of Octopus Energy US. "Instead, we’re developing a new grid that puts customers and renewables at the center of innovation. Through the Fan Club, we have the opportunity to harness incredibly low-cost electrons that come from renewables and financially reward everyday consumers to shift their usage to periods of energy abundance. This strategy both lowers customer bills and strengthens grid stability. As other states implement large-scale solar and wind buildouts, this can serve as a model for how consumers can be financially rewarded in the energy transition, provided regulators allow us to introduce this innovation to their regions."

ADVERTISEMENT

ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com:
NEW! -- Sales Support Specialist -- Retail Supplier
Channel Sales Manager -- Retail Supplier
Business Development Manager
Operations Manager/Director -- Retail Supplier -- Texas

Email This Story

HOME

Copyright 2010-23 Energy Choice Matters.  If you wish to share this story, please email or post the website link; unauthorized copying, retransmission, or republication prohibited.

 

Archive

Daily Email

Events

 

 

 

About/Contact

Search