Octopus Energy will pay you to use your oven in new scheme

Octopus Energy is set to reward customers for using their ovens as part of an innovative new initiative. The scheme will see thousands of customers getting paid to activate their ovens, washing machines, and other home appliances, including charging their cars, when there's an excess supply of "green electricity" from wind farms.

The energy firm explained the Agile tariff policy: "Across the UK, whenever more electricity is generated than consumed, energy prices fall sometimes to the point where prices drop below zero, and suppliers are paid to take energy off the grid."

Octopus Energy described its 'world first' plunge pricing offer as a way for customers to benefit from these negative price events, stating: "With Agile, you'll get access to half-hourly energy prices, tied to the wholesale market."

Get the latest news straight to your phone by joining us on WhatsApp

They also cautioned that while this tariff can offer significant savings during times of low demand, prices may increase during peak periods: "There's a flip side to the cheap rates: prices can spike at busy times, so you need to be able to use power flexibly to make the most of it. It's not every day the price goes negative just the overwhelmingly green days but rates are typically lower than a standard tariff most of the time."

A satisfied customer shared their experience on Twitter/X: "I'll take that! Negative price for using electricity right now. Price plunge this morning for @OctopusEnergy Agile customers. The reason being a surplus on the @nationalgrid from sunny and windy conditions thanks to renewables #Electricity," reports Birmingham Live.

"I was kinda gutted I'd charged the car the previous night, so I could only top it up. I asked the neighbours if they wanted to charge their cars at mine," a second said. "Holy wow! ! *makes note to do TONS of washing and drying and ironing and some hot drinks from 8am! " another said.

"Then with the free electric i can use my heaters and heatguns to help melt paint off doorframes to redecorate while washer and dishwasher and tumbke dryer etc is all on! " another commented.