Octopus Energy to take on 90,000 former Iresa customers
Octopus Energy is taking on 90,000 new customers who were previously with the now-defunct Iresa.
Since Iresa ceased trading, the UK energy regulator Ofgem had to choose a new gas and electricity supplier for those customers left in the lurch by their former supplier.
Having previously been banned from taking on new customers by Ofgem, Iresa finally ceased trading last week. The ban was imposed as Citizens Advice had received a huge number of complaints from customers about the provider, specifically around customer service. In fact, Iresa broke a record for the number of Citizens Advice complains received.
Octopus Energy was chosen as a new supplier due to its good customer service rating in contrast to Iresa. Citizens Advice said it has a 3.8 out of 5 scoring.
Octopus, which currently has about 250,000 customers, will take on the extra 90,000 by the end of August.
Greg Jackson, CEO, Octopus Energy said: “Iresa’s records are in a terrible mess so it will take us a bit of time to untangle them.” However, the 36% rise in customer numbers should make these efforts worthwhile.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.