Octopus Energy CEO Says Spanish Consumers Might Tolerate Occasional Blackouts for 25% Lower Bills

Jackson spoke at an industry conference on the anniversary of the Iberian blackout that left tens of millions without power in Spain and Portugal. He noted that many households now have home batteries (small storage units) that can keep laptops running for a couple of hours during an outage, making brief power losses less disruptive than before.

A survey cited by Jackson indicates Spanish consumers would tolerate occasional blackouts if their electricity costs fell by a quarter. The annual cost of grid upgrades — investments in power lines and substations — added to energy bills has risen from £254 in summer 2021 to £457 today.

Higher grid investment costs are being passed directly to consumers through their bills, contributing to the upward pressure on energy prices. If Spanish households are willing to accept occasional outages for lower bills, it suggests flexibility measures such as home storage could reduce the need for expensive network upgrades.