Octopus Energy has unveiled plans to extend its initiative, known as the 'Fan Club' wind tariff, which grants substantial discounts on electricity to residents when adjacent offshore wind farms are operating at peak capacity.
The company's 'Fan Club' wind tariff seeks to bring the advantages of cost-effective, eco-friendly energy to customers living near offshore wind farms. Octopus Energy has announced its intention to provide coastal inhabitants from Skegness to Grimsby with up to a 50% reduction on their electricity bills when the local offshore wind farm is generating electricity at maximum efficiency.
The focal point of this expansion is the Lincs Wind Farm, situated approximately five miles off the coast of Skegness. According to information provided on Octopus Energy's website, this unique tariff offers customers a 20% discount on their electricity rates whenever the Lincs Wind Farm turbines are in operation and the customer is consuming electricity.
As of now, this scheme is accessible to customers in specific postal code areas, namely DN31 to DN36, LN11 to LN13, PE24 and PE25.
The 'Fan Club' tariff was initially introduced in 2021 for customers residing near one of Octopus Energy's onshore wind turbines, located in Market Weighton, Halifax and Caerphilly. Since its inception, Octopus Energy has received more than 20,000 requests from local communities for wind turbine installations. Moreover, the program has expanded internationally, reaching the United States and Germany.
In a recent announcement, the UK-based energy company disclosed its commitment to invest approximately £15 billion in global offshore wind projects by 2030. This substantial investment drive, spearheaded by Octopus Energy Generation, will provide the funding necessary to support an estimated 12GW of renewable electricity generation annually. This, Octopus Energy claims, will be sufficient to power approximately 10 million households.