Octopus launches V2G tariff for EV drivers

OCTOPUS Energy has launched the UK’s first mass market vehicle-to-grid (V2G) tariff.

Called Octopus Power Pack, it guarantees free charging for drivers and an average saving of £850 a year in charging costs compared to charging on a standard variable tariff.

The tariff, which is still in beta, 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.

According to Octopus Energy, all drivers need to do is plug in their car for roughly six 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. The drawback is that currently only a limited number of models have this capability.

“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.”

Alex Schoch, head of flexibility at Octopus Energy Tweet