A new programme will pay businesses for using less electricity when the grid is under strain.

Launched by Voltus and marking the North American company’s entry into the UK market, with Octopus, the programme will be available to large businesses across the country, no matter who their energy supplier is.

The initial phase of a new service is aimed at commercial and industrial businesses, such as factories, warehouses or hotels and they will be paid for every megawatt of power they can shift from busy times to when renewable power is plentiful.

To start, the programme is open to large energy users who spend over £20,000 a month on electricity.

Alex Schoch, director of flexibility and electrification at Octopus Energy, said: “British businesses face some of the highest electricity prices in Europe. Octopus Peak Performance helps British businesses take back control of their energy bills. Over a million Octopus households already get paid to adjust when they use electricity. We're bringing that same idea to businesses, helping them save money and become more competitive without disrupting day-to-day operations."

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