A new program by renewable energy retailer rewards Texas customers with cash in exchange for conserving energy during times of peak energy usage
Renewable energy retailer Octopus Energy today announced the launch of its first-ever Superpower Savings program to financially reward its Texas customers who conserve energy during times of extreme heat. The goal of the program is to decrease the overall stress on the grid during peak demand events. Users can opt-in to the program through this link: https://octopus.typeform.com/to/mfSdrARN.
Customers with an EcoBee thermostat can benefit from Superpower Savings by allowing Octopus Energy to control their smart thermostat and automatically set it at an 80-degree threshold the next time the grid is hitting load capacity. In return, users will receive a credit on their next bill statement for helping to conserve energy during peak times. Customers without a smart thermostat can also participate by opting to receive a notification for the next Superpower Savings event and texting Octopus Energy their account number and a picture of their thermostat set to at least 80 degrees to receive a reward. Octopus Energy’s Superpower Savings program will soon be integrated with other smart thermostats.
“With a rapidly growing population, extreme weather events like Winter Storm Uri and the major heat waves we are already seeing this summer pose a threat to our overburdened electrical grid. What most consumers don’t know, however, is that by raising the temperature of your thermostat just a few degrees, you can help decrease the overall stress on the grid and reduce the chance of rolling blackouts during extreme weather. Texans have historically always lent a helping hand. This is the modern equivalent of helping your neighbour, while also getting money back,” said Michael Lee, CEO of Octopus Energy U.S. “Octopus Energy’s Superpower Savings program aims to give our customers the financial benefits when they are conserving energy at critical points in time.”
With weather extremes reaching new heights across the globe, the vulnerability of the current power system is becoming increasingly apparent. In preparation for the record-breaking hot summer and high energy usage that comes with it, Octopus Energy created Superpower Savings as a way to engage Texans to help the state conserve energy during extreme weather and avoid a grid reliability issue.
In addition to the Superpower Savings program, Octopus Energy gives customers full wholesale power credits when they sell back to the grid. That means those customers who have solar or generators at home can support the stability of the grid while also putting cashback in their pockets.
About Octopus Energy
Octopus Energy Group is a technology-driven, renewable energy retailer, directly supplying over 2 million customers globally with 100% green electricity at a cheaper price and with a focus on incredible customer service. Founded five years ago as a global energy retailer, Octopus Energy entered the U.S. market in 2020, forming Octopus Energy U.S. and fueling the company’s global expansion. Octopus Energy is valued at over $2 billion and is one of energy-tech’s fastest-growing private companies. To learn more, visit: www.octopusenergy.com