Nov 2023
Join nearly 70% of the public who want to shift their energy use to cut bills and save carbon, as the cost of living continues to burden households
With the cost of living remaining high and environmental concerns looming, nearly 70% of people are looking to change the way they use energy in their homes to reduce their bills and minimise their impact on the planet.
New schemes, such as OVO’s Power Move, aim to help customers shift their energy consumption away from times of peak demand, when the grid is topped up using fossil fuels. Households that use energy outside of these hours enjoy the cheaper energy provided by renewable sources such as wind and solar farms.
Between 4 -7pm every day, demand on the energy grid is at its highest. Using customer data, we found that the average household uses 19% of their daily total usage during these hours. At times of peak demand there is often not enough renewable energy to go round, leading to additional demand on the grid ultimately resulting in more expensive and dirtier energy to fuel our homes.
By moving energy-intensive tasks like laundry, dishwashing and charging electric vehicles to off-peak hours, people can save money by powering their homes with cheaper, renewable energy which is abundant. 26% of people over the last year joined one of these schemes. 57% said that one of these schemes had a significant positive impact on their energy bills, and 75% wanted to continue.
At OVO, we have already seen the enormous benefits this simple shift can achieve. Our Power Move scheme encouraging customers to use energy off peak - when it’s cleaner and cheaper - has saved over £576,000 for customers so far.
While saving money is a compelling reason to change the way we use energy, the environmental impact cannot be overstated. Shifting household energy usage contributes significantly to reducing our reliance on fossil fuels and mitigating climate change. Fewer fossil fuel powered plants running at full capacity during peak hours means fewer greenhouse gas emissions. This could play a vital role in transitioning to a cleaner and more sustainable energy grid.
Yet as we transition to renewable energy sources like wind and solar, a flexible grid is necessary to manage their intermittent nature.We need a grid that adjusts according to demand so we don’t have to fire up expensive gas power stations to provide additional capacity at peak times.
At OVO we are engaging with policymakers and the wider industry to support initiatives that promote a more flexible grid, and the widespread adoption of energy consumption shift initiatives. The more we understand about the positive impact our actions can have, the greater the momentum for change.
Find out more about Power Move Plus.