Global energy and technology company Octopus Energy has launched the UK’s first mass market vehicle-to-grid (V2G) tariff guaranteeing free charging for drivers.
An estimated £850 a year in charging costs could be saved per driver on the Octopus Power Pack tariff, compared to charging on a standard variable tariff.
The tariff uses V2G technology and Octopus Energy’s tech platform, Kraken, to balance charging and discharging when it’s best for the grid – charging up the car with cheap, green electricity during off peak times and exporting back to the grid when it needs it most.
Alex Schoch, Head of Flexibility at Octopus Energy, said:
“EVs are going to be a major lever in our future flexible, green grid, but to get there we need to unlock the capabilities of their batteries. Now we have Octopus Power Pack, it’s over to car manufacturers to build the cars that are compatible with V2G technology.”
All drivers need to do is plug in their car for roughly 6 hours a day. The rest of the process is automated, leaving drivers with guaranteed free charging.
Octopus Power Pack is available to drivers with V2G compatible electric cars and chargers available in the UK. There is currently only a limited number of models that have this capability, however, car manufacturers such as Volvo have made commitments to releasing V2G-ready models soon.
The tariff works as a bolt-on that separates charging from the rest of the home and runs alongside each customer’s regular import tariff.
