Electric blankets saved customers £300 on their energy bills, says Octopus Energy
Customers using electric blankets have cut their energy bills by nearly a fifth this year, revealed Octopus Energy (Octopus).
The UK’s fifth biggest supplier launched the Octopus Electric Blanket Scheme in January, and its latest data shows customers taking part have saved up to £300 per year compared to other energy users on its books.
Octopus analysed the smart meter data of the 4,190 customers who opted into the scheme, and discovered that customers who received electric blankets reduced their energy bills by 19 per cent compared to the control group of consumers who did not use blankets.
Electric blankets are a highly effective way to heat a person, without the expense of heating an entire home.
Currently, it costs less than 3p an hour to keep a person warm with an electric blanket, while heating a whole home could cost around £4.70 a day.
So far, the supplier has sent out 7,000 free electric blankets to customers, with distribution based on need, prioritising people who are struggling the most.
The scheme has been open to all Octopus customers and can be accessed via an online tool which asks a series of questions about their financial situation.
Scheme set for expansion with price cap set to rise again
This winter’s scheme has closed, but Octopus has announced it will extend the scheme again next winter.
It is also partnering with a major electric blankets supplier to provide half price blankets to any of its customers.
Greg Jackson, founder of Octopus Energy, told City A.M. the idea for electric blankets came from conversations with Sam Bailey – an engineer who had devised heat pads for office workers – and about how little energy it took to heat a person rather than a whole building.
This made the blankets ideal for vulnerable customers, especially those with mobility issues.
He said: “So seeing this analysis – that customers really are saving £300 a year – is incredible. The science of ‘heat the human not the building’ worked, but it’s incredible to see it translating into huge real world savings for customers, and a huge relief to so many who won’t need to worry quite so much about turning their heating up.”
Last week, Ofgem warned the UK energy price cap is expected to rise again by as much as £830 to around £2,800 in October.
The price cap already spiked by nearly £700 to £,1971 per year last month, reflecting soaring wholesale prices and market carnage that has seen 29 suppliers collapse since last September.