Octopus Energy’s Chief Executive Officer Greg Jackson has endorsed the government’s proposal for zonal locational pricing in the electricity sector.
Mr Jackson highlights the anticipated advantages, including cost savings for consumers and the potential attraction of new industries to certain regions of the UK.
Greg Jackson, CEO and Founder of Octopus Energy, said: “Our ridiculously distorted energy market forces us to send electricity to France when we need it most and pay a premium to buy it back from Norway, all while paying Scottish wind farms to switch off.
“With locational pricing, customers will save hundreds of pounds a year on bills and parts of the UK will see the lowest electricity prices in Europe, attracting new industry and reducing the need for new pylons.
“It’s right that the government is progressing zonal pricing and the energy sector must now work together to get this up and running swiftly so we can attract new industries – from data centres to manufacturing – and customers can benefit from cheaper electricity fast.”
