Octopus Energy CEO Greg Jackson: Standing Charges Under Fire as Chancellor Cuts Gas Bills

Octopus Energy chief executive Greg Jackson addressed standing charges on BBC Breakfast, following the chancellor's announcement of cuts to gas bills for millions of households. Jackson, who leads one of the UK's largest energy suppliers, discussed the controversial daily fees that customers pay regardless of energy usage, which have been criticized for disproportionately affecting low-income households. The government's move aims to ease cost-of-living pressures, but Jackson highlighted that standing charges remain a significant part of bills, often outpacing the benefits of unit price reductions. He pointed to the need for reform in how these charges are structured, suggesting that shifting some of the fixed costs into unit rates could make energy fairer and encourage efficiency. The chancellor's plan, which targets gas bills specifically, comes as energy prices remain volatile, and suppliers face pressure to offer more transparent pricing. Jackson's comments signal growing industry willingness to rethink standing charges, a move that could reshape how millions of Britons pay for energy in the coming year.