- After the UK government’s policy change, Octopus Energy will announce new onshore wind projects.
- CEO Greg Jackson highlighted strong community interest in hosting wind turbines to support the UK’s 2030 decarbonisation goal
- The company supports electricity pricing reforms that would incentivize local support for renewable energy and reduce consumer costs near generating sites.
Octopus Energy is gearing up to unveil new onshore wind projects in response to the UK government’s recent policy shift. Greg Jackson, CEO of Octopus Energy, disclosed in a recent interview that they expect to announce these projects soon, buoyed by the Labour government’s decision to lift restrictions on wind farm development in England.
Jackson noted a surge in interest from communities eager to host wind turbines, which is part of the country’s goal to decarbonise its electricity system by 2030.
“We have received inquiries from thousands of communities regarding onshore wind,” Jackson told Reuters. “We anticipate announcing projects in areas where they are most desired shortly,” he added.
Jackson emphasised the importance of ongoing energy market reforms under the new government, supporting proposals for a location-based pricing system for electricity. This system, already in use in countries like Italy, Sweden, and Norway, aims to lower costs and encourage local backing for renewable energy initiatives. It could reduce electricity bills for consumers living near generating sites.
Octopus Energy actively facilitates community involvement in wind projects by connecting interested communities with landowners willing to host turbines. Participants can benefit from reduced electricity rates up to 50% cheaper than usual.
Jackson highlighted the economic advantages of consuming electricity close to its source, advocating for reforms enabling regional pricing and optimising investments in renewable energy infrastructure across the UK. With a renewable power portfolio valued at £5 billion, Octopus Energy operates in the UK, Germany, and the United States, showcasing its global commitment to sustainable energy solutions.
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