Octopus Energy Launches Revolutionary ‘Tenant Power’ Tariff to Benefit Social Housing Tenants and Landlords
In a groundbreaking move, Octopus Energy, the UK’s largest energy supplier, has introduced a new tariff designed to help social housing tenants save money on their energy bills while encouraging landlords to adopt green energy solutions. The ‘Tenant Power’ tariff, hailed as a first-of-its-kind, aims to share the benefits of clean energy fairly between tenants and landlords.
According to Octopus Energy, the new tariff offers social housing tenants a discount of up to £200 per year on their energy bills compared to a standard variable tariff, depending on the number of solar panels and the size of the battery. This innovative approach not only benefits tenants but also provides social housing landlords, such as housing associations, with a financial incentive to invest in low-carbon technology. Landlords can earn money by exporting excess solar power to the grid, which can then be used to fund the upgrade of more homes.
The ‘Tenant Power’ tariff is a sustainable social housing solution that benefits both tenants and landlords. Any social home with solar panels and an Octopus-optimised battery can sign up for the tariff. If landlords choose to add extra low-carbon technology, such as smart heat pumps, tenants could save even more on their energy bills. Octopus Energy is now inviting housing associations and local authorities to offer ‘Tenant Power’ to their tenants, bringing affordable, green energy to more communities across the UK.
The introduction of ‘Tenant Power’ has been welcomed by the energy industry, with Nigel Banks, Zero Bills director at Octopus Energy, stating: "One of the biggest blockers to scaling green social housing has been the lack of incentives for landlords. ‘Tenant Power’ removes that barrier by giving landlords a clear return on their investment in low-carbon tech, while delivering meaningful savings for tenants. It’s a win-win model for both landlord and tenant which helps accelerate the roll out of affordable, sustainable housing."
The ‘Tenant Power’ tariff is a significant development in the UK’s energy sector, as it addresses the need for affordable and sustainable housing solutions. By providing a financial incentive for landlords to invest in low-carbon technology, Octopus Energy is helping to drive the adoption of green energy solutions in the social housing sector. As the UK continues to grapple with the challenges of climate change, initiatives like ‘Tenant Power’ will play a crucial role in reducing carbon emissions and promoting sustainable living.
As reported by PBC Today, the ‘Tenant Power’ tariff is a game-changing solution for social housing tenants and landlords. With its innovative approach to sharing the benefits of clean energy, Octopus Energy is setting a new standard for sustainable social housing solutions. For more information on ‘Tenant Power’ and how to sign up, please visit the Octopus Energy website.
In conclusion, the ‘Tenant Power’ tariff is a groundbreaking initiative that has the potential to transform the social housing sector. By providing a financial incentive for landlords to invest in low-carbon technology, Octopus Energy is helping to drive the adoption of green energy solutions and promote sustainable living. As the UK continues to grapple with the challenges of climate change, initiatives like ‘Tenant Power’ will play a crucial role in reducing carbon emissions and promoting sustainable living.
As PBC Today reports, this tariff will give tenants in social, affordable and shared ownership housing a discount on their energy bills of up to £200 per year compared to a standard variable tariff. Landlords will also get paid for any excess energy produced by the homes’ solar panels, which will be sold back to the grid at peak times. This allows landlords to fund the upgrade of even more homes, creating a sustainable social housing solution that benefits both tenants and landlords.
The source of this article is PBC Today, and we are reporting on their findings and statements made on their publication.
