The present robust state of the UK power market solely crystallises how pressing the necessity for funding in renewable and sensible know-how is globally.
Reliance on fossil fuels, and a 100+ 12 months previous system, have left us within the state we’re in now, with elevated international demand for fuel driving up costs and passing excessive prices onto customers in lots of locations all over the world.
Enlargement into new territories is the one manner we will change the power system on the dimensions that’s wanted.
To take it again to our founding mission; we got down to create a good and clear power system that places the client at its core. Not like others within the business, we don’t imagine in blaming prospects for top carbon footprints when all they’re doing is utilizing the one system that’s obtainable to them (everybody wants heating and transport to work). We firmly imagine that system-wide change will come simpler if we will first show to individuals all over the world that inexperienced power is the only, least expensive selection. Via new funding and enlargement we can transfer on from the present essentially flawed system, constructed on finite assets, and create a cleaner, extra versatile and extra environment friendly system at a scale that can serve our prospects higher and considerably cut back our toll on the planet.
We are able to preserve increasing to extra locations due to our incredible buyers, most not too long ago former US Vice-President and local weather champion Al Gore’s sustainable funding fund, Era. Our Kraken know-how platform, constructed from the bottom as much as assist a 100% inexperienced, customer-centric power system, is like nothing that’s existed available in the market earlier than. It’s now licensed to 25 million prospects together with Good Vitality, E.ON and EDF within the UK, Tokyo Gasoline in Japan to assist our three way partnership Octopus Vitality Japan, and Origin Vitality in Australia.
However increasing into different international locations doesn’t imply we’re taking our eye off the UK. We’ve already begun to supercharge a complete, whole-system method to the decarbonisation of the UK by the likes of designing inexpensive warmth pumps (and hiring 1,000 engineers per 12 months to switch fuel boilers), electrical autos (we already energy ⅓ of the UK charging factors) and inexperienced hydrogen (investing £3bn as a substitute gasoline supply for heavy business). We imagine the UK has the potential to be the chief on this transition that others can emulate.
We’re additionally freely contributing information, know-how and experience to offer others within the business distinctive perception into how we will speed up a worldwide transition to renewables – we’ve invested £5m within the Octopus backed impartial Centre for Web Zero. OCNZ is constructing the world’s largest ‘dwelling lab’ for power analysis, utilizing data-driven modelling and simulation to supply the essential insights that coverage makers must take daring local weather motion.
In our efforts to convey the inexperienced revolution, each ‘native’ and international, we’re empowered by the assist of our 3.1 million prospects and the large, overwhelming vote of confidence from Al Gore’s Era and our different funding companions. It definitely appears like we’re on the cusp of momentous change, and we don’t have a second to waste.
