Major energy provider offers 50 per cent off electricity for thousands of customers - here's what you need to know
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Household energy bills will rise by two per cent despite falling wholesale prices in October
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Millions of households are being offered the chance to slash their energy bills in a rare move by one of Britain's biggest suppliers.
For a limited time tomorrow afternoon, electricity will be available at half the usual cost for those taking part.
British Gas confirmed that PeakSave members will get electricity at 50 per cent off the standard rate between 2pm and 4pm on Thursday August 28 as part of a special Green Flex event.
The discount period has been timed to match forecasted windy and sunny weather, which is expected to boost renewable energy generation across the grid.
Households enrolled in the scheme can cut costs by shifting activities such as laundry or garden work into the two-hour window.
Eligible customers will be contacted directly by the provider with details on how to take part.
The initiative forms part of British Gas's broader PeakSave programme, designed to encourage customers to adjust their energy consumption patterns when renewable sources are abundant.
Participants receive bill credits reflecting their reduced rates during these designated timeframes.
The company determines Green Flex event timings through proprietary forecasting systems that predict optimal renewable energy availability, allowing them to assess potential cost savings and grid impact.
Both new and existing PeakSave members can access the reduced rates, regardless of their current British Gas tariff. The company has introduced a new one-year fixed tariff priced at £1,580 for typical dual fuel usage, positioning it £175 below the current price cap.
Green Flex events complement the regular PeakSave Sunday programme, which provides half-price electricity every Sunday from 11am to 4pm.
Customers aren't required to alter their routines, though shifting activities like cooking, cleaning and washing to these periods maximises potential savings.
The scheme aims to reward more efficient energy consumption whilst supporting greener electricity supply
| GETTYThe scheme aims to reward more efficient energy consumption whilst supporting greener electricity supply. British Gas reports distributing over £25million to more than one million participating customers since PeakSave's inception.
Participation requires a smart meter with half-hourly data capability, which British Gas installs free of charge for interested customers.
The company currently supplies energy to roughly 7.5 million residential customers and over 350,000 small to medium enterprises across England, Scotland and Wales, operating under parent company Centrica.
The announcement arrives as energy bills face upward pressure, with Ofgem confirming a two per cent increase to the price cap from October 1.
Typical households in England, Scotland and Wales will see annual costs rise from £1,720 to £1,755 for dual fuel bills paid via direct debit.
Millions of households are being offered the chance to slash their energy bills
| GETTYStanding charges will increase significantly, climbing four for electricity and 14 per cent for gas, adding approximately 7p daily to household costs. This rise stems partly from the government's expansion of the Warm Home Discount scheme.
The broadened programme will assist an additional 2.7 million low-income households, including 900,000 families with children, after ministers removed the "hard to heat" eligibility requirement. Approximately 6.1 million households should receive the £150 discount this winter.
Network operators' electricity balancing costs have also contributed to the cap increase, adding roughly £1.23 monthly to average bills. These expenses arise from maintaining grid stability when power supply fluctuates.
Despite current wholesale price stability, Ofgem cautioned that global uncertainties continue to create market volatility. Analysts at Cornwall Insight anticipate a modest reduction in the price cap from January.