Octopus boss: UK risks ‘falling behind’ without China energy ties
The boss of Octopus Energy has warned that the UK risks being “left behind” in the clean energy race if it fails to work more closely with China on renewable technology, claiming the country should not ignore China’s advances in wind and clean power manufacturing.
He argued that collaboration could cut energy bills and strengthen supply security, as well as supporting thousands of domestic jobs.
Jackson’s words come after Octopus struck a joint venture with Chinese group PCG Power last week, as the firm takes its first leap into the Chinese renewables market.
The partnership, announced during a UK business delegation visit to China alongside Keir Starmer, is set to focus on trading and optimising renewables.
Octopus has also planned to deploy Chinese-made wind turbines across UK projects, with the technology costing 30 per cent less than their European counterparts.
Jackson argues importing and eventually manufacturing the equipment domestically could be a huge helping hand in scaling renewables in Britain, while creating high skilled jobs too.
“However you feel about China, it’s the second-largest economy in the world”, Jackson said. “In many areas it’s setting the global pace because of its investment in research and development and technology. If you don’t look at how to work with them, then you get left behind”.
In the aftermath of the PM’s trip to China, Charles Parton, a senior associate fellow at the Royal United Services Institute think tank, said: “If your energy is dependent on China then you are at their mercy.”
Security concerns
Jackson acknowledged potential national security concerns, but claimed they should be managed rather than used as a blanket bottleneck.
“Security has to be the number one priority”, he added, saying that collaboration should happen “intelligently and carefully with the appropriate security frameworks”.
Octopus has already partnered with Chinese wind turbine giant Ming Yang Smart Energy, which has ambitions to build manufacturing capacity in the UK.
Jackson said the aim was to reduce Britain’s reliance on imported gas, lower wholesale power costs and to improve energy resilience.
The company serves just under eight million customers across the UK, and recently overtook British Gas in becoming the country’s biggest household energy supplier.
It also operates Kraken Technologies, its AI energy platform used by utilities worldwide, which the government has backed via the British Business Bank ahead of a planned spin-out.
Octopus hopes Chinese turbine tech will begin operating in UK wind projects within the next couple of years, as Britain races to expand clean power capacity, and meet its net zero goals.