THOUSANDS of customers with Britain’s biggest energy supplier will pay nothing to use electricity this weekend, thanks to Storm Amy.
Households on Octopus Energy‘s Agile tariffs – which see prices drop if supply is high or demand is low – could benefit from free energy today (October 4) and even get paid to use their electricity.
Meanwhile, Octopus is giving free electricity to all its customers for three hours this weekend as part of its Savings Sessions scheme.
It comes as wholesale energy prices are expected to remain below zero for a full day on Saturday for the first time since 2023, due to high winds brought by Storm Amy.
This is because storms can help boost renewable energy supplies by increasing wind generation and reducing reliance on gas, reducing the price of wholesale energy.
The price of Octopus’s Agile smart tariff is tied to the cost of wholesale energy and changes every half an hour, meaning households on this tariff could pay nothing – or even get paid – for their energy today.
Octopus Energy told The Sun that it had already seen five hours of negative prices today, with prices expected to drop below zero again this afternoon.
Prices will drop below zero on Saturday afternoon at 12:30, between 13:30-14:30, and then again later this evening at 21:30 and 22:30, the energy giant said.
In total, households on the Agile tariff will see nine hours of negative prices today.
Meanwhile, you could get free electricity this weekend even if you’re not on the Agile tariff, as Octopus is giving away three hours of free electricity to all its customers.
Octopus’ Saving Sessions are taking place between 12pm and 2pm on Saturday October 4, and 11am and 12pm on Sunday October 5.
During these times, the electricity you’d normally use will cost the same, any extra power you use will be free.
The scheme is a way for customers to earn rewards by reducing their electricity consumption during specific times when the national grid is under pressure.
To be eligible for the scheme, you must be an Octoplus member, which is a free rewards program for the smart meter customers.
Households will get a notification the day before a Saving Session letting them know the event is about to start.
Octopus said customers on its Agile tariff have saved an average of £268 over the last 12 months on their energy bills, compared with those on its standard variable tariff.
While you can save money with green tariffs, prices can also spike at busy times, so you’ll need to be able to use power flexibly to get the best value.
They are usually recommended to households that can use most of their electricity outside of peak times, or those that have electric vehicles or storage heaters.
You’ll also need to have a smart meter to sign up to these tariffs.
Millions of households are to see their energy bills rise from this week after Ofgem’s new price cap came into effect on Tuesday.
The average annual bill for those on a standard variable tariff paying by direct debit increased by 2%, jumping £35.14 to £1,755 from July’s cap of £1,720.
You can use our interactive map to see how much your energy bills are rising by here.
What energy bill help is available?
There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.
If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.
This involves paying off what you owe in instalments over a set period.
If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.
Several energy firms have schemes available to customers struggling to cover their bills.
But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.
For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.
British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.
You don’t need to be a British Gas customer to apply for the second fund.
EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.
Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).
The service helps support vulnerable households, such as those who are elderly or ill.
Some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.
Get in touch with your energy firm to see if you can apply.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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