Intelligent Octopus Go, Octopus Energy’s electric vehicle (EV) tariff, now manages a cumulative 1GW of EV batteries.
Through the tariff, 150,000 EV batteries are combined into virtual power plants (VPPs) through Octopus’ Kraken platform. Kraken recently secured its first North American utility contract in Saint John Energy, as reported on Monday (13 May).
Using Kraken in the EV tariff means customers can automatically shift their charging to greener and cheaper times, benefitting the grid and EV owners. This also helps reduce the overall carbon emissions from the transportation sector, with green energy being used in vehicles.
The amount of energy that could be shifted through this tariff is the equivalent of that needed to power Birmingham and Leeds on a “typical” evening.
Alex Schoch, head of flexibility at Octopus Energy, said: “We’re seeing a paradigm shift in global energy – moving from dumb to smart systems that dynamically manage energy demand and supply in an Uber-style fashion.
“Now being able to manage a virtual power plant of 150,000 EVs has massive benefits for not only our future green grid, but every person that pays an energy bill too. We’re excited to see it grow even more from here.”
Introduction of V2G tariff
In February 2024, Octopus Energy released the “first” mass-market vehicle-to-grid (V2G) tariff in the UK. Named Octopus Power Pack, the company alleged that it could save an average EV driver up to £850 a year in charging costs compared to a standard tariff.
Octopus Power Pack, currently in beta, uses V2G technology and, like the Intelligent Octopus Go Tariff, uses Kraken to balance charging and discharging back to the grid during periods of peak demand.
The tariff works as a bolt-on that separates charging from the rest of the home and runs alongside the customer’s regular import tariff. Customers can also apply the financial benefits of solar energy generation as an addition to the Octopus Power Pack savings.
