David Roberts asked how Octopus Energy's Texas business is doing. Chaset said it's going well, but customers there show less interest in flexibility programs than in other markets, because grid-scale batteries have flattened the price swings that made shifting demand worth money.
Forced choice in Texas.
They do. Okay. All right.
Yep, exactly right. So, the business underlying business is going well. We're not seeing as much active participation in flexibility programs as we have in other markets. Interestingly, because Texas energy market has been so deliberalized and there's been so much utility-scale solar and storage deployed, Texas volatility has essentially been destroyed.
Yes, this is such a fascinating story. This is such a really over
the last 12 to 18 months. And so, flexibility, especially in an energy-only market and one like in Texas, where transmission and distribution rates for residential customers are essentially charged on a flat volumetric rate. The whole value prop of flexibility is interday price arbitrage, right?…
going to get to that too.