Octopus Energy is flipping the switch on energy consumption with the launch of its first-ever Saving Sessions, encouraging customers to use free energy during times when renewable power is abundant. Through the new program, customers can shift their energy use to Flex Sessions, where clean energy surpluses are available, cutting their bills, reducing waste, and fueling the clean energy revolution.
During the first Flex Session, which ran from 9 a.m. to 11 a.m. on March 26, renewable energy flooded the ERCOT grid, allowing Octopus Energy to distribute nearly 2 MWh of free power. Participants used an additional 600 kWh compared to their baseline, which could power 800 homes for an hour, run an air conditioner non-stop for 24 days, or fully charge an electric vehicle for two round trips between Houston and New York City.
The surge in demand during this session helped absorb excess clean energy, enabling better integration of renewable sources into the grid. As a result, participants not only benefited from the excess energy, but also contributed to stabilizing the grid's balance. Customers saw savings of up to 20 percent on their average daily electricity usage in just one two-hour session.
"We're excited to offer our customers the chance to reduce their energy bills while making a real impact on the grid," said Nick Chaset, CEO of Octopus Energy. "By shifting energy use to times of excess renewable energy, we help stabilize the grid, save our customers money, and make energy consumption cleaner and more sustainable."
The pilot saw overwhelming success. Within just 24 hours, more than 50 percent of the 1,000 available spots were filled, and by the end of the week, nearly 90 percent of the pilot slots had been subscribed.
"The response has been phenomenal," added Chaset. "Saving Sessions show that people are eager to be part of the energy transition while saving money. It's a clear example of how we can reshape our energy use for a cleaner, more efficient future."
Participants in the initial Saving Sessions expressed strong support for the program, with one noting, "It helps everyone to save energy, and you can get a little money back on your bill by doing so. It's a no brainer."
Octopus Energy plans to continue offering Saving Sessions throughout the spring and summer, giving more customers the opportunity to save money, reduce their carbon footprint, and support the clean energy transition.
To learn more or sign up, visit https://octopusenergy.com/saving-sessions.
Media Contact:
Kelly Zuniga
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About Octopus Energy:
Octopus Energy Group is a global energy tech pioneer, launched in 2016 to use technology to unlock a customer-focused and affordable green energy revolution. It is part of Octopus Group, which is a certified BCorp. With operations in 18 countries, Octopus Energy Group's mission has gone global. Octopus Energy entered the U.S. market in 2020, forming Octopus Energy US. In January 2024, Octopus Energy US officially entered into the Lubbock retail choice market as one of three default providers.
In May 2024, Octopus Energy Group announced a valuation of $9 billion as existing shareholders Generation Investment Management and Canada Pension Plan Investment Board (CPP Investments) increased their stakes in the business. This valuation was reaffirmed in June 2024 with further investments from Galvanize Climate Solutions and Lightrock.
About Saving Sessions:
Octopus Energy is offering Saving Sessions, an energy savings program that rewards customers for adjusting their energy usage during periods of high renewable energy availability or low grid demand. Participants can earn savings by joining Flex and Stretch Sessions. During Flex Sessions, customers maximize their energy usage to unlock free energy when there is an abundance of renewable power. In Stretch Sessions, customers reduce their energy consumption and are paid for the kilowatt-hours they would have typically used but did not.
Participants receive 24-48 hours' notice before each session and must opt in to earn savings. After the session, savings are calculated based on meter readings and credited to participants' Octopus Energy accounts within a few weeks. This initiative helps reduce reliance on fossil fuels while giving customers an opportunity to lower their energy bills.
