Octopus Energy launches two wind-linked tariffs in Wales

Octopus Energy customers in Wales are being enticed by an innovative tariff whereby stonger winds leads to lower prices.

The first 400 residents in Market Weighton (postcode YO43) will receive 50 percent off electricity when winds are "above a fresh breeze" (8m/s), while a similar number in Caerphilly (CF81 and NP24 postcodes) will receive 50 percent off electricity bills when winds are "above a strong breeze" (10.8m/s).

The Octopus Fan Club costs £52 a year and any electricity used while the local turbines are spinning automatically gives a 20 percent discount. 

Octopus Energy Group recently signed a major strategic partnership with Tokyo Gas, in a deal that values the UK entech pioneer in excess of $2 billion (£1.45 billion). 

The agreement will see Octopus Energy and Tokyo Gas launch the Octopus Energy brand in Japan, operated by TG Octopus Energy, a 30:70 joint venture backed by working capital and growth funding provided by Tokyo Gas (click here). The company is also planning to expand in New Zealand.

As with much of the UK, Wales is busy riding the renewables wave, with the Welsh Government targeting 70 percent of electricity demand from renewables by 2030. 

RES has submitted an application to the Planning Inspectorate for its Upper Ogmore Wind Farm and energy storage project, which would supply around 21,000 homes with clean, low cost electricity every year.

Shearwater Energy is developing a wind-SMR (Small Modular Reactor) and hydrogen production hybrid energy project in North Wales and RenewableUK Cymru, the trade association for the renewable energy industry, recently welcomed the Port of Milford Haven as its latest member.