An energy-saving app, Loop, is relaunching its “Turn Down and Save” scheme for smart meter users across the UK.
The scheme pays users for reducing their electricity consumption during specific energy-saving events that last approximately an hour.
Each participating household will receive £2.50 per kilowatt-hour saved when they cut their energy usage by 40% during these events.
With the government’s energy bill support coming to an end in March, Loop’s initiative aims to help users better manage their energy costs.
Last year, the scheme paid over £100,000 to participating households, and users of the Loop app donated over £20,000 to a leading UK energy poverty charity.
The scheme offers three key benefits to households: the ability to earn rewards, the option to donate earnings to charitable organisations and assistance in understanding and reducing energy bills by monitoring energy usage.
Additionally, households with higher peak-time energy usage, such as those with electric heating or electric vehicles, can save even more by adjusting their energy consumption outside of peak hours.
By shifting energy usage away from peak times, the National Grid can manage the UK’s electricity needs more sustainably, reducing the reliance on costly and environmentally harmful energy sources.