Billions could be saved by building a flexible electricity system, MPs told

Rachel Fletcher from energy supplier Octopus appeared before MPs on the Business, Energy and Industrial Strategy Committee.

Wind and solar farms operate under the Contracts for Difference scheme which sets a specific price for the electricity that comes from many of the UK’s newer wind farms (Ben Birchall/PA) (PA Archive)

Britain could be saving around £17 billion every year if it builds a flexible electricity system, MPs have been told.

Rachel Fletcher from energy supplier Octopus suggested managing when people use electricity and figuring out how to store electricity in the short and long term.

“What we should be doing as an industry is getting our head around the how. How do we keep renewable investors confident while getting the price signals which will keep the overall cost of the energy system down?” she told MPs on the Business, Energy and Industrial Strategy Committee.