Octopus energy expects customers to get £4 a day on average for cutting back consumption when demand is high.
being worked up by the business ministry to persuade households to consume less electricity.
The payback service will be available to homes that have smart meters installed, as long as their supplier is taking part in the scheme. There are about 14 million households with electricity smart meters in the UK. Customers who managed to cut back compared to their recent average electricity consumption would be rewarded with a payment, likely to be between £3 and £6 per kilowatt hour saved, Octopus said.
Under the National Grid-backed scheme, customers, including businesses, will receive an email or text a day ahead, outlining the time slot when they would be paid if they reduce their energy use, usually between 4pm and 7pm.
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