Octopus CEO: How zonal energy pricing saves you £55bn

Right now, the government are considering reforming the energy market from 'national' to 'zonal' pricing. Zonal pricing would save Brits over £3.7 billion per year on energy bills - but where does that money come from? Octopus Energy CEO Greg Jackson gives you the whole picture. This blog explains EVERYTHING about how zonal pricing would actually work: https://octo.ps/3ECl7WG 00:00 - Introduction - getting the whole picture 00:26 - Why zonal pricing works 01:05 - How the national market works 02:06 - How the national market fails 03:14 - Savings: Constraint Costs 04:36 - Savings: Congestion Rents 05:13 - Changes: Wholesale Costs 05:38 - Changes: Contracts for Difference 05:59 - Overall zonal savings 06:16 - Bonus savings! 06:32 - Transitioning to zonal Right now, Britain's energy market is broken. We waste billions switching wind turbines off and overpaying gas generators, and our people pay some of the highest energy bills in Europe. The government is considering reform to help fix this: local or 'zonal' pricing.