National Grid’s electricity savings could be increased

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National Grid’s electricity savings could be increased

He said it should not have a negative impact on consumers as it was intended to balance the power grid at times of the year when heating and lighting causes electricity demand to be higher.

The Times, which reported the story, said that households, typically paying 28.34 p for each kilowatt-hour of electricity they use, could potentially be paid as much as 6 for each kilowatt-hour they avoid using at peak times.

The way customers would redeem savings has not been established, but Octopus Energy said that they had credit on their energy accounts and also had a self-refund option where they could get cash transferred to their bank accounts.

The savings over winter could be much higher if the real service is implemented, but it depends on how much National Grid would pay households per kWh, the company said.