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Big energy firm reveals move into rented property sector

octopus no bills energy housing rented

Octopus Energy is launching its first private rental properties in the new year, kitted out with solar panels, heat pumps, and home storage batteries, where tenants are guaranteed to pay no energy bills for a minimum of five years.

The new-build properties in Bristol are part of the energy firm’s ambitious goal of delivering 50,000 zero bills homes across the UK using green energy technology.

Following the success of its zero bills pilot in Essex, it has now accredited nearly 1,000 homes through contracts with developers. These span affordable, social, and private rent, as well as private and shared ownership.

Major benefits

A spokesman tells LandlordZONE: “We’d expect landlords to see major benefits from owning a zero bills home, including a premium of their home’s value due to the clean green technology installed, plus tenants benefitting from lower bills and the volatility of the current fossil fuel energy market.

However, we wouldn’t decide rental prices for landlords who have purchased a zero bill home - as soon as they’ve purchased the property, they are free to offer them to their tenants at a price they see fit.”

Octopus joined forces with housebuilder The Hill Group and social landlord Clarion Housing Group to build its latest 89-home site at Hollymead Square in Newport, Essex (main picture), which will be the most extensive housing development of its kind in the UK. As well as the heat pumps and solar panels, they are integrated into tech platform, Kraken.

Michael Cottrell (pictured), zero bills homes director at Octopus Energy, says: “This partnership pioneers a future where sustainable living is the standard for everybody, no matter their situation.”

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