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What Is Octopus Max Power?

The Octopus Max Power tariff enables multi-site businesses to share the renewable energy they generate on one site with their other locations. Rates are calculated at a business level rather than site by site. Octopus can therefore offer a single import rate and a single export rate for the entire business and a business only gets charged for electricity which enters or leaves its portfolio of sites. A Max Power contract is currently for 12 months. 

Who Is Max Power For?

Max Power is for businesses with solar, onshore wind turbines, hydro power, geothermal or even battery storage, who have 2 or more sites anywhere in the UK and control their energy arrangements. As long as Octopus Energy can supply your sites and purchase your exported electricity, then you're eligible for Max Power. Export-only sites (i.e. generation-only) or those which can’t import for whatever reason, can still be included.

What Are The Benefits Of Octopus Max Power?

Not only does this make businesses more sustainable and self-sufficient, Octopus calculate this could reduce bills by up to 25%, although precise savings will depend on the size of the business, its energy consumption and its renewable generation, amongst other factors.

How Does Max Power Work?

If during any half-hour period a business site is exporting energy, this energy enters a pool from which any other site can draw power. If the energy in the pool is insufficient to meet demand for all sites, then electricity is imported from the grid in the usual manner. If there's excess energy in the pool (or insufficient demand), then the excess is exported and sold to the grid. Overall, this increases the amount of self-generated electricity a business uses across all its locations, whilst reducing reliance on the grid. This results in substantial savings and increases renewable energy consumption.

What About Pricing?

Time-matched energy (i.e. electricity imported from one site to another) will avoid wholesale energy (commodity) costs, because the business is supplying its own energy. However, the costs of transporting energy can't be avoided and therefore the non-commodity costs (like standing charges, capacity charges, transmission costs and distribution costs) will be passed onto the customer. These are only a small fraction of the total price, so shared energy is usually around 80% cheaper! Import rates are calculated using a weighted-average of all costs and you can have day and night rates, or a single rate. Any electricity exported will be paid for at a bespoke fixed rate.

Do Sites Have To Be Half Hourly Or Smart Metered?

No. Octopus can model your sites using one of the standard profiles provided by Elexon, who manage the Balancing and Settlement Code and compare how much electricity generators and suppliers say they will produce or consume with actual volumes. This does however mean that Octopus won’t be able to see you load-shifting.

What Is Max Power:Connect?

If your business doesn't generate its own power but you'd like to be involved, you can link your business to a renewable energy generator of your choice. You'll pay a lower price when you use the electricity it generates by time-shifting your energy usage. For more details and a quote please visit the Max Power:Connect page on the Octopus website.

How Do I Sign Up To The Octopus Max Power Tariff?

Head to the Octopus Energy website and complete the form. You can also check out the Max Power blog.

Don't forget that if you're just signing up to Octopus, use my Octopus referral link below for £100 free account credit.