Octopus Energy has launched its dynamic electric vehicle charging pricing model in France, offering drivers discounts of up to 50% at thousands of public charging stations when renewable electricity generation is abundant.
The initiative expands Octopus Energy’s “Plunge Pricing” model beyond the United Kingdom, where it was introduced two years ago. The pricing system links charging costs to wholesale electricity market conditions, allowing drivers to benefit from lower prices when renewable power supply is high and electricity demand is lower.
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Under the program, the discounts will initially apply to around 7,000 ultra-rapid charging points operated by Powerdot across France. Octopus Energy said the program may expand to include additional charging network operators in the future.
The pricing scheme is integrated into Octopus Energy’s Electroverse platform, which allows EV drivers to access charging stations from multiple providers through a single account and mobile application. According to the company, Electroverse currently connects to about 97% of the roughly 172,000 public charging points installed across France.
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Matt Davies, founder and director of Octopus Electroverse, said the company has already seen strong results from the dynamic pricing model in the UK.
“So far in the UK we’ve already helped customers save almost £100,000 with our Plunge Pricing, so we’re buzzing to expand it across the channel into Europe for the first time,” Davies said.
He added that France offers a strong environment for expanding the initiative due to its growing renewable energy capacity and EV adoption.
“France is the perfect place to kick things off. Certainly for local drivers, but also for the many UK drivers on holiday or passing through. Drivers can now snag some serious savings on the go, thanks to the flexibility of a renewable-powered grid,” Davies said.
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Afonso Ramos, co-founder and chief product officer at Powerdot, said the collaboration aims to make electric mobility more accessible by aligning charging demand with renewable energy availability.
“Octopus has a remarkable ability to turn energy innovation into tangible benefits for customers,” Ramos said. “We’re particularly excited to introduce Octopus’ plunge pricing model to the French market together, aligning EV charging with periods of excess renewable energy to unlock lower costs for drivers across the country.”
Octopus Energy said it plans to expand the dynamic pricing model to additional charging networks and international markets in the future.