Octopus boss forced to explain why the cost of 'renewable' energy is rising

manchestereveningnews.co.uk:

Octopus Energy has been forced to explain why its customer's bills are rising, despite its power being "100% renewable ". Experts have predicted that Ofgem's price cap could peak at £5,550 come April and as a result, all energy providers - including Octopus - have raised prices.

The rising cost of wholesale gas has caused the country's current energy crisis. Some Octopus customers took to Twitter to ask why their bills were going up, as the power they get is labelled 100% 'green'.

Corey (@soper_mr) asked: "Octopus is putting our prices up, but claim to be 100% renewable. Did the price of wind go up lads?" Read more:The grants and benefits that can help you pay your energy bills during cost of living crisis In response, the supplier said it was a fair question that they get asked a lot.

The founder of the firm, Greg Jackson, recorded a video to explain the situation. In the two-minute clip, Jackson says: "In the current outdated system, the most expensive type of energy (usually gas) sets the price for ALL types of energy, including renewables.