Greg Jackson, the Founder of Octopus Energy, has spoken out in favour of regional electricity pricing after recent criticism from UK Steel and other industry groups.
The industry bodies had written to the government, arguing that the proposed changes could raise costs for heavy industries and damage investment in the UK.
However, Mr Jackson argues that regional pricing, also known as locational pricing, could be a solution to Britain’s high energy costs, which are among the highest in the world.
According to Greg Jackson, families and businesses are currently paying more than they should, partly because of subsidies provided to certain industries.
Without changes, including zonal pricing, he warns that electricity costs will continue to climb, leading to a decline in the UK’s industrial sector.
Greg Jackson said: “British families and businesses shoulder some of the world’s highest energy bills, while also subsidising special treatment for a few industries.
“Without locational pricing, electricity costs will continue to spiral, guaranteeing industrial decline.
“There are many ways to meet the needs of these vested interests without caving to their corporatist lobbying at huge expense to over 30 million homes and businesses.”
