Octopus Energy has announced a groundbreaking initiative that will hand customers £200 off their energy bills. The company has partnered with Muirhouse Housing Association to introduce its Tenant Power tariff to over 30 social homes in Scotland.
What is Tenant Power?
Tenant Power is the UK's first green energy tariff where both social housing landlords and tenants share the financial benefits of smart energy technology. The result is that tenants see their electricity unit rate bills fall by 30 percent, saving around £200 a year compared to a standard variable tariff. Meanwhile, landlords earn revenue, making clean tech upgrades a smart long-term investment.
How It Works
Buildings equipped with solar panels and a compatible battery system can generate their own renewable energy. Any excess energy is stored in the battery and automatically sold back to the grid at peak times, helping to balance the grid and providing a return for landlords.
Octopus Energy aims to onboard 1,000 customers onto Tenant Power with a further 10,000 homes committed by the end of 2026.
What the Experts Say
Nigel Banks, Zero Bills Director at Octopus Energy, said: “Solar panels and batteries should be a no-brainer for social housing – but until now the economics haven’t worked well enough. Tenant Power solves this by cutting tenants’ bills while giving social housing landlords a return for investing in green tech. By partnering with Muirhouse Housing Association, we’re delivering more affordable, greener living to social homes in Scotland, making a real impact on communities and people’s pockets.”
Glenn Rivers, Asset Manager at Muirhouse Housing Association, said: “At Muirhouse we are always looking at practical solutions to improve our homes and support our tenants through the ongoing cost-of-living pressures, particularly when it comes to fuel poverty. The Octopus Tenant Power scheme allows us to invest in low carbon technologies such as solar panels and battery storage in a way that delivers a real, direct benefit to our tenants through a guaranteed reduction in their energy bills. By building on the success of this project, we aim to roll Tenant Power out across all our homes, helping to cut energy costs and make a meaningful difference to tackling fuel poverty in Muirhouse.”
Richard, a Tenant Power customer, said: “I love that my bills are lower thanks to Octopus’ initiatives – the process was quick and easy and it really makes a huge difference. It's a bonus knowing I’m making the most of the sunshine with solar panels, and doing something good for the planet too.”
