Millions of Households to Benefit from Cut-Price Energy this Bank Holiday Weekend
A leading UK energy provider, British Gas, has announced that millions of households will be offered half-price electricity this bank holiday weekend as part of its "PeakSave scheme". The scheme, which was launched in 2023, rewards customers for shifting their electricity usage to times when demand is lower or when more renewable energy is available on the grid.
According to The Independent, customers who are part of the PeakSave scheme will receive half-price electricity between 11am and 4pm on May 25th and 26th. This offer is in celebration of the 1 millionth household signing up to the scheme, which aims to reduce energy bills and promote efficient energy use. The scheme has already helped customers save a combined total of nearly £25 million and 1606 tonnes of carbon emissions, with collectively 28,619 MWH of energy shifted so far.
The PeakSave scheme operates by offering customers two hours of electricity at half price when it is windy or sunny and lots of renewable energy is available. Energy is also cheaper every Sunday. The Independent reports that British Gas Managing Director, Catherine O’Kelly, said: "We’re proud to have supported a million customers through our PeakSave scheme, helping them make simple yet impactful changes to how they use energy. By shifting energy usage to lower-demand periods, households can not only reduce their bills but also support a more flexible, greener energy future. This extended Bank Holiday offer is our way of saying thank you and encouraging even more people to take part."
The price reduction comes as consumers face the burden of rising living costs. However, household energy bills have been projected to decrease by about 7 per cent this July. Industry analysts Cornwall Insight predict that the typical annual household energy bill will fall by £129, settling at around £1,720 when Ofgem’s revised price cap takes effect. Ofgem, the energy market regulator responsible for setting the upper limit on what energy suppliers can charge customers, is expected to formally announce the updated price cap on Friday.
This anticipated reduction follows three consecutive price cap increases, with the current cap standing at approximately £1,849 for a typical household. British Gas’s PeakSave scheme is just one example of how energy providers are working to help customers reduce their energy bills and promote efficient energy use.
The news of the half-price electricity offer is a welcome relief for households who are struggling with the rising cost of living. As The Independent reports, the PeakSave scheme has already made a significant impact, with millions of households benefiting from the scheme. With the bank holiday weekend offer, even more households will be able to take advantage of cut-price energy.
According to The Independent, the benefits of the PeakSave scheme are clear. By shifting energy usage to lower-demand periods, households can reduce their bills and support a more flexible, greener energy future. As the UK continues to transition to a low-carbon economy, initiatives like the PeakSave scheme will play an increasingly important role in promoting efficient energy use and reducing carbon emissions.
Source: The Independent – Millions of households to benefit from cut-price energy this bank holiday weekend
