Octopus Energy users can unlock smart new way to slash electricity bills

With costs expected to rise once again, many homes may soon find themselves struggling to keep pace with their energy bills. Prices continue to stay well above the rate seen before the Russian war in Ukraine, and the current conflict in Iran looks set to put even more pressure on household finances. In a bid to help its users reduce their outgoings, Octopus Energy has just announced the launch of a smart new system that uses the power of batteries to keep the electricity flowing.

During its Energy Tech Summit, the UK supplier has unveiled a device called the Octopus Nook Colossus.

It's a new wall-mounted home battery that charges when electricity is cheaper — typically overnight — then powers appliances around the home during the day.

"Home batteries help customers store clean electricity when prices are low and use it later when energy is more expensive, potentially saving hundreds of pounds on energy bills a year," Octopus Energy confirmed.

Different sizes will be available depending on the type of home with up to 30kWh packs being made available. That size is easily enough to power a whole home's needs for around two days.

It's not just homeowners getting this boost.

For renters, Octopus is also launching the Octopus Nook Cube, a smaller-capacity version designed to be portable, so it can move from one home to another.

Until now, the benefits of home batteries have been largely out of reach for Britain’s over 10 million renting households but Octopus says its new plug-in battery changes that.

Speaking about the update, Greg Jackson, Founder and CEO of Octopus Energy Group, said: “Home batteries are a brilliant piece of tech and one of the smartest ways to cut energy bills right now.

“Offering Octopus batteries to our customers is a big step in our mission to help people to tap into the cheapest energy possible.”

The move makes Octopus the first major UK energy supplier to offer its own home battery range directly to customers. Tesla already offers this technology via its Powerewall device with one million installed across the globe.