MY £75 OCTOPUS ENERGY REFERRAL CODE LINK

I'm an Octopus Energy customer offering my Octopus referral link under the company's referral scheme. Use my unique referral code to switch your gas and/or electricity to Octopus and we both receive £50 free account credit. Approved by Octopus, I also give you half of my referral reward, so you get an extra £25 directly from me. That's £75 in total for switching supplier with my referral.

Just use my Octopus referral link and let me know how you'd like paid via my contact form. If you sign up by phone, get in touch for my full referrer details or add my referral link (https://share.octopus.energy/ivory-jade-264) via your online account before your switch completes.

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Octopus Centre For Net Zero

OCTOPUS CENTRE FOR NET ZERO

Founded in 2021 by Octopus Energy, Octopus Centre for Net Zero (OCNZ) is a new type of research facility combining expertise across technology, the environment, behavioural insights and regulatory policy. With access to millions of progressive energy customers with billions of corresponding data points, OCNZ are building a future energy landscape which works harder for both people and the planet, focusing on the interconnection between four critical elements in the energy transition: consumers, businesses, the grid and places.

Octopus Centre For Net Zero

OCNZ are leading experts in tech, engineering and AI, with a deep knowledge of the energy sector. By pairing innovative datasets with technical knowledge, OCNZ extract value and insights with important implications for people interested in the energy transition, from policymakers to researchers and regulators. OCNZ's first two focus areas are domestic heating and transport, seeing as they account for more than half of overall carbon emissions today. A combination of changes to behaviours, technologies and policies can help realise a greener, smarter energy system. OCNZ study how this can be achieved most effectively via independent research, building new products, collaborating with academics and forming commercial partnerships.

Academic Partnership

OCNZ collaborated with American economist Professor Peter Cramton and his market research team at the University of Cologne and the University of Maryland to explore the price elasticity of demand of UK households, measuring how responsive consumers were to price between July 2020 and July 2021, using half-hourly individual-household data. Electricity markets balance supply and demand with price. Historically, this price response has come almost completely from supply. However, when much of supply is intermittent or inflexible, price responsive demand becomes essential for reliability and resiliency. The research sample included customers with a dynamic rate which tracks wholesale cost, in addition to flat-rate customers used to control for weather and other factors.

It was found that a 1% increase in price reduces demand by 0.26%. This elasticity is larger for consumers who own low-carbon technologies. This price response is sufficient to maintain system balance in extreme events, even when most consumers are unresponsive. Regulators can encourage price responsive demand through choice of retail offerings and subsidise enabling technologies. They can also therefore protect consumers with mandated hedging in dynamic plans. Low-income households would benefit most of all from such policies.

Collaboration Project

Heating has a huge impact on the environment. In a survey commissioned by National Grid in 2020, only 5% of participants thought that heating their homes was a major contributor to climate change. That's in sharp contrast to 89% of those surveyed who cited transport as a key area of environmental concern. OCNZ partnered with Advanced Infrastructure during London Climate Action Week to take a data-driven look at how London can wean itself off fossil fuels through increased adoption of heat pumps. They looked at how the city heats its homes today, how the need for heating varies across London, the difference that heat pumps could make and what needs to happen to accommodate that.

The analysis was focused on the coldest day of the year at that point, which was 13th February 2021. On that one day of gas consumption, Londoners generated more than 74,000 tonnes of CO2. Electricity demand was then forecast for 2031 in the same conditions, assuming heat pump adoption meets predicted uptake rates. The result was a clear surge in electricity demand, with particular spikes in areas of London where heat pump uptake is likely to be high. It was found that if peak electricity demand exceeds 20% of 2021 levels in these areas, we will need to find ways to manage that increase — by reducing it, being smarter about when we use energy or reinforcing the network.

Independent Research

Homes accounted for 21% of total greenhouse gas emissions and 35% of total energy consumption in the UK in 2020. Natural gas is the most common heating fuel in domestic buildings, covering 80% of domestic heat demand in the UK. The deployment of heat pumps represents a major opportunity to decarbonise the way we heat our properties. One of the major reasons for its slow uptake is the high up-front costs of heat pump systems compared to gas boilers. The OCNZ analysis looked at 30m UK properties in order to estimate the distribution of costs to retrofit an air source heat pump – rather than focusing on the cost for an 'average' household which currently dominates discussions.

It was found that a £4,000 subsidy, as proposed under the Clean Heat Grant consulted on by government, could lead to the uptake of around 230,000 heat pumps per annum. Following the UK Government's Heat & Buildings Strategy announcement in October 2021, OCNZ updated their modelling to reflect the £5,000 subsidy confirmed in the new £450m Boiler Upgrade Scheme. The research showed that actual cumulative demand for heat pump installations over the 3-year duration of the grant could be nearer to 560,000 households – i.e. more than six times the 90,000 homes which would be covered by the £5,000 available via the £450m scheme.

For more information about Octopus Centre For Net Zero, you can visit their website: OCNZ.

My £75 Octopus Energy Referral Code

If you're thinking about switching your energy supply to Octopus, use my Octopus Energy referral code for £50 free account credit after your switch completes and you've made your first payment. You'll also earn £25 extra cashback from me via your choice of PayPal, bank transfer or Amazon gift card. Just submit my contact form to confirm you've used my referral link and how you'd like your £25 referral bonus paid!

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