Octopus CEO slams ‘bonkers’ energy rule preventing ‘cheaper electricity’ for millions

“In fact, to make it worse, renewable typically costs more because we either have to pay for certification or to pay for what’s called balancing costs.”

The energy boss called for an overhaul to the system, which Business Secretary Kwasi Kwarteng has said won’t stay forever.

Mr Kwarteng has previously said: “One of the things we are very keen to do in BEIS is to look at the pricing mechanism in the electricity market because it cannot be the case forever that we can link directly our electricity prices to gas prices when gas is only a portion of the electricity generating mix.”

And this is something Mr Jackson would hugely advocate.

He said: “This is bonkers. Fundamentally, we need a market reform that enables all to see the benefit of cheaper, renewable electricity.

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Article source: https://www.express.co.uk/news/science/1657517/octopus-energy-renewable-electricity-gas-prices-bills-greg-jackson