Octopus Energy has launched what it claims to be the UK’s first mass-market-ready vehicle-to-grid (V2G) tariff, aiming to revolutionize electric vehicle (EV) charging by offering significant cost savings. The Octopus Power Pack, as it’s called, could potentially save an average driver around £850 a year, although there are certain limitations.
The new tariff utilizes V2G technology and the Kraken tech platform to balance charging processes, prioritizing the use of green electricity during off-peak times. Octopus Energy expects drivers to plug in for about six hours daily to fully benefit from the bidirectional smart charging features. The estimated savings are based on driving an average of 10,000 miles per year.
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However, the rollout of the tariff will be limited initially. While the tariff is in beta, there are only a limited number of vehicle models with V2G capability on the market. According to Octopus’ FAQs, eligible vehicles include the Nissan Leaf, Nissan e-NV200, and Mitsubishi Outlander PHEV, which charge via CHAdeMO.
To take advantage of the tariff, customers also need a Wallbox Quasar 1 V2G charger. Octopus Energy has stated that they are working to offer compatibility with more charger models in the future.
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Alex Schoch, Head of Flexibility at Octopus Energy, emphasized the need for car manufacturers to produce vehicles compatible with V2G technology, now that the Octopus Power Pack is available.
The tariff operates as a separate bolt-on, distinct from the customer’s regular import tariff, and allows customers to stack payments for solar generation on top of their savings from V2G charging.
