Octopus Energy has launched what is claimed to be the world’s first electricity tariff whose price drops when the wind speeds up.
The new tariff follows the purchase of wind turbines in Caerphilly, South Wales and Market Weighton, Yorkshire. It promises to offer households, which are living near the turbines and using electricity when the turbines are spinning, a 20% discount on the unit price.
Each of these turbines is predicted to generate up to 500kW, enough to power up to 400 homes every year.
The company said when the wind picks up and the turbines are producing more green electricity, the unit price could see a 50% price cut.
The customers who use the ‘Fan Club’ tariff could save up to £229 off their bills, compared to the price cap, currently set at £1,042 for a typical dual-fuel household.
Zoisa Walton, Director of Octopus Energy Generation, commented: “Octopus Energy’s first-ever own brand turbines are now on the grid and we have included the UK’s first wind tariff to boot.
“This is the first step in a huge plan for Octopus owning its very own generation and offering local wind tariffs across the country.”