Breakthrough in Electric Car Charging Could Pay Drivers to Charge - 'Impossible with Petrol'
Drivers can potentially save £250 annually through a new Octopus charging scheme.
Octopus has announced plans for numerous "Plunge Pricing" events over the next year, which will allow drivers to save between 15 and 45 percent per kWh.
With the Electroverse service, drivers receive discounts by using excess energy from the grid during sunny or windy times, utilizing green energy to power the charging network.
Electroverse has tested five Plunge Pricing events at over 7,500 charging stations across the UK, collaborating with brands like Ionity, Osprey, Blink, Be.EV, GeniePoint, and Raw.
On average, drivers save £6.50 per charge and could save up to £250 annually using this new service.
In the future, drivers might even get paid to charge their vehicles when wholesale energy prices go negative, marking a significant advantage for EV owners.
The concept of Plunge Pricing was introduced in 2018 with the "Agile Octopus" smart tariff, which ties home EV charger rates to wholesale electricity prices.
Matt Davies, Director of Octopus Electroverse, stated, “This is a landmark achievement: for the first time, drivers can charge their vehicles and pay less on the public charging network when green energy is abundant.
This is not your typical discount—it’s transforming public charging and something that could never be done with petrol. We’re prepared to collaborate with more charging brands to extend these benefits to more people.”
Octopus has been innovating in the electric car charging sector, particularly for those with home chargers.
Last year, the company introduced the UK's first mass-market vehicle-to-grid tariff—Octopus Power Pack—allowing drivers to enjoy free home charging.
It's estimated that Octopus Energy customers have saved over £100 million by participating in "Saving Sessions," where they are paid to reduce energy use during peak times, especially in winter when the national grid is under heavier strain.
Octopus Energy also offers an electric vehicle program where customers can get a car, smart charger, EV energy tariff, and free miles upon signing up.
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