Octopus Energy Launches UK's First Mass Market Vehicle-to-Grid EV Tariff
Octopus Energy has introduced a pioneering tariff for electric vehicle (EV) owners in the UK. The Octopus Power Pack, the nation's first mass market vehicle-to-grid (V2G) tariff, offers free charging for compatible EVs.
The Power Pack is accessible to drivers with specific V2G-enabled electric cars and chargers. It functions as an add-on, separate from the regular home energy supply, and employs V2G technology and Octopus Energy's Kraken platform to optimize charging and discharging for grid support.
Once ten million EVs populate UK roads, they could potentially power the entire country during peak times, thanks to V2G technology. Automakers like Volvo are already planning V2G-ready models for the future. To reap free charging benefits, drivers need to plug in their EVs for around six hours daily.
Alex Schoch, Head of Flexibility at Octopus Energy, believes the full potential of EVs for energy storage remains untapped. Drivers can save over £850 a year in charging costs with the Power Pack compared to standard variable tariffs.
With over 200,000 customers already enrolled in its EV-optimized tariffs, Octopus Energy leads the way in EV charging innovation. Meanwhile, Be.EV plans to expand charging infrastructure, aiming for more than 1,000 EV charging stations across the UK through partnerships with various network operators and platforms like Octopus Electroverse.
