Friday 16 February 2024

Octopus introduces free charging with V2G tariff

Octopus Energy has unveiled Octopus Power Pack, what is described as the UK's first mass-market vehicle-to-grid (V2G) tariff.

This tariff guarantees free charging for electric vehicle (EV) drivers, potentially saving over £850 annually compared to standard tariffs.

By utilising V2G technology and Octopus Energy’s Kraken platform, the tariff optimises charging and discharging, leveraging off-peak periods for eco-friendly charging and exporting surplus energy to the grid.

Drivers only need to plug in their vehicles for approximately six hours daily.

Octopus Power Pack is exclusively available to V2G-compatible electric cars and chargers, with plans for wider accessibility as more manufacturers adopt V2G-ready models.

Alex Schoch, Head of Flexibility at Octopus Energy, said: "We recently moved past a million EVs on UK roads – a major milestone – but their true power for storing energy remains untapped.

"Once we reach 10 million electric cars on the road, we’ll have enough storage to power the entirety of Great Britain during peak times.

"All our drivers have to do is plug in regularly and their charging is completely free. “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."