Octopus Energy has offered free charging for motorists of electric vehicles who resell the power from their vehicle batteries back to the grid during peak hours.
The guaranteed free charging is part of a new mass market vehicle-to-grid tariff (V2G) launched by the energy group.
The energy company hopes to save EV drivers more than £850 a year in charging costs by using the Octopus Power Pack compared to charging on a standard variable tariff. The brand says the Power Pack "guarantees free charging" for drivers.
The tariff, which is still in its early development phase, uses V2G technology and Octopus Energy’s tech platform, Kraken, to balance charging and discharging to inform drivers of when it’s best for the grid to charge.
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The energy company hopes to save EV drivers more than £850 a year in charging costs
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Octopus Power Pack is available to drivers with V2G compatible electric cars and chargers eligible for use in the UK.
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.”
To benefit, drivers need to plug in their car for more than 170 hours each month to receive their free charging, which is roughly around six hours a day.
Schoch added: “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.”
The tariff works as a “bolt-on” that separates charging from the rest of the home and runs alongside each customer’s regular charging costs.
With more car companies offering electric vehicles, energy providers are releasing new chargers and EV-friendly tariffs.
A new rapid EV charger designed by StoreDot has the capability of powering vehicles for long distance travel while on a minimal charging time.
The company hopes to reduce its charging time further by 2026 to four minutes and to three minutes of charging time in 2028.
Dr Doron Myersdorf, CEO of StoreDot, said: “By taking a balanced, system-level approach, we are unlocking the full potential of our XFC battery technology to maximize real-world performance.
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A growing number of car brands and energy providers are launching new home EV chargers
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“Rather than prioritizing charging speed, our plan focuses on technological enhancements across the board - energy density, cell and pack design, chemistry, and cooling optimization.
“The result is an extremely fast charging experience that can be easily deployed on today's infrastructure.”
