Britain wasted £649m already this year powering down wind farms as there is not enough grid capacity to send renewable energy where it is needed, utility finds
Britain wasted £649m already this year powering down wind farms as there is not enough grid capacity to send renewable energy where it is needed, utility finds
Are they not a for profit company?
Yes. What’s that matter?
I guess I’m just wondering why a for-profit company would want to incentivize price drops for consumers
Octopus was set up because they felt they could use technology to out-compete other energy companies by under-cutting them. Their model of operating is to find ways they can drop prices.
It’s a model that has served them very well, going from zero to a multi-national energy supplier in about 10 years with more customers than nearly anyone else.
I guess whilst they’re in the consumer-friendly phase of their business growth cycle, I’m rooting for them, I just wonder about the future once they’ve cornered the market
Amazingly, they’re huge now and still consumer friendly. Just watch out for when the current CEO leaves.
Oof, amen.
Partly, it will be they do care. But also, them appearing to care brings in more customers. This isn’t going to change prices anyway, directly, because of the way energy is priced by the most expensive source, gas. Renewable companies already have a great profit margin because they are so much cheaper than gas, but with more storage, it could be cheaper still. I.e. more profit.