Interview: Octopus Energy boss Greg Jackson speaks to Simon Lambert
This is Money Podcast
This is Money
4.4 • 732 Ratings
🗓️ 10 September 2025
⏱️ 32 minutes
🧾️ Download transcript
Summary
In this interview with This is Money's Simon Lambert, he explains why bills are still so high, what we can do as a nation to try to bring them down - and the future of household energy.
Greg explains what people need to know about solar panels, heat pumps, electric cars and agile energy deals - and what we can do for those who don't want any of those things.
He also discusses an idea that he is passionated about, making renewable energy cheaper - and sometimes even free - for those nearer to the source, which he believes could help both individuals and businesses - and attract big technology firms to the UK.
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
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Transcript
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| 0:00.0 | I'm Simon Lambert from This Is Money and I'm joined now for a special interview by Greg Jackson, |
| 0:09.5 | the CEO and founder of Octopus Energy. He's a man who knows more about energy bills and energy |
| 0:16.2 | prices and the future of energy than most people in this country. He's going to talk us through where we're at now on energy bills, what he sees the future of |
| 0:25.4 | home energy as being, how he thinks we could get bills down for people in the long term, |
| 0:31.5 | and where we could possibly be in a decade's time. |
| 0:34.7 | Greg, welcome to this is money. |
| 0:36.9 | First of all, I think the thing that everybody |
| 0:39.1 | wants to know is, where are we at with energy bills at the moment, other than the fact that |
| 0:44.9 | most people would have hoped that they would have come down more by now? Well, first of all, |
| 0:50.1 | hello, Simon, and indeed, hello to your listeners. Thank you for having me. But energy bills are too high. I guess I should very quickly say, |
| 0:58.4 | thanks to the energy price cap, which essentially caps supplier profits, |
| 1:03.0 | that's not anymore because of high price from suppliers. |
| 1:07.4 | It's because our energy system is too expensive. |
| 1:10.7 | The price of gas is still around |
| 1:12.3 | about 50%, the wholesale price of gas, is about 50% higher than it was before the energy crisis. |
| 1:21.8 | That's actually a lot better because at one point, the wholesale price of gas was, I think, |
| 1:26.5 | 15 times higher. |
| 1:28.2 | So it's come down a lot. |
| 1:30.4 | It's not yet back to normal levels. |
| 1:32.7 | Now, that doesn't just mean that gas is more expensive, but because of the way the |
| 1:37.6 | electricity wholesale market works, the price there is set by gas 98% of the time or something. So high gas prices |
| 1:46.4 | then set high electricity prices. But I think there are some other issues underneath it that |
... |
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