UK Energy

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A place to post links and discussions around the UK's energy production, National Grid, energy consumption, and green energy news.

See https://grid.iamkate.com/ for the UK's current energy production and sources.

Created 23/07/23

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UK’s wasted wind power laid bare by new Octopus tracking tool (www.rechargenews.com)

submitted 4 weeks ago by i_am_not_a_robot@feddit.uk to c/energy@feddit.uk

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Britain wasted £649m already this year powering down wind farms as there is not enough grid capacity to send renewable energy where it is needed, utility finds

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[–] tetris11@feddit.uk 2 points 4 weeks ago (1 children)

Are they not a for profit company?

[–] wewbull@feddit.uk 3 points 4 weeks ago (1 children)

Yes. What's that matter?

[–] tetris11@feddit.uk 1 points 4 weeks ago (2 children)

I guess I'm just wondering why a for-profit company would want to incentivize price drops for consumers

[–] wewbull@feddit.uk 3 points 4 weeks ago* (last edited 4 weeks ago) (1 children)

Octopus was set up because they felt they could use technology to out-compete other energy companies by under-cutting them. Their model of operating is to find ways they can drop prices.

It's a model that has served them very well, going from zero to a multi-national energy supplier in about 10 years with more customers than nearly anyone else.

[–] tetris11@feddit.uk 1 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

I guess whilst they're in the consumer-friendly phase of their business growth cycle, I'm rooting for them, I just wonder about the future once they've cornered the market

[–] wewbull@feddit.uk 2 points 3 weeks ago (1 children)

Amazingly, they're huge now and still consumer friendly. Just watch out for when the current CEO leaves.

[–] tetris11@feddit.uk 1 points 3 weeks ago

Just watch out for when the current CEO leaves.

Oof, amen.

[–] jabjoe@feddit.uk 2 points 4 weeks ago

Partly, it will be they do care. But also, them appearing to care brings in more customers. This isn't going to change prices anyway, directly, because of the way energy is priced by the most expensive source, gas. Renewable companies already have a great profit margin because they are so much cheaper than gas, but with more storage, it could be cheaper still. I.e. more profit.