Octopus CEO: Energy Bills Likely to Rise From July

Octopus CEO: Energy Bills Likely to Rise From July

From Big Boss Interview by BBC News

March 29, 2026 · 42 min

About this episode

Greg Jackson discusses the likelihood of rising energy bills and the shift in consumer behavior amid recent gas price increases.

(Episode 33) Wholesale gas prices have roughly doubled in three weeks amid instability in the Middle East, and Greg Jackson, co-founder and Chief Executive of Octopus Energy, the UK's biggest household energy supplier, says it is "very likely" that energy bills will rise from July. The energy price cap is set to fall in April due to government tax cuts on electricity, but Jackson warns that fixed tariffs and business tariffs are expected to climb in the summer quarter. He compares the situation to Groundhog Day — just three years after Russia's invasion of Ukraine triggered a fossil fuel crisis. Consumer behaviour has shifted sharply in the three weeks since the crisis began. Octopus has recorded a 50% increase in rooftop solar sales, a 30% rise in heat pump sales, a 40% jump in heat pump orders, and a 30% increase in demand for electric vehicle charging points. He says a dramatic shift is needed in the UK. China's approach to energy offers a stark contrast. Some 75% of all renewables being built globally are in China, more than half the cars sold there last year were electric, and the Chinese state oil company is planning for no petrol stations by 2040. He describes China's…

People in this episode

Guest: Greg Jackson

Topics covered

  • energy prices
  • renewable energy
  • consumer behavior
  • investment
  • China's energy policy

Keywords

  • energy bills
  • Octopus Energy
  • gas prices
  • renewables
  • China energy investment

Mentioned in this episode

Organizations: Octopus Energy

Places: UK, China

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