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Octopus has launched the UK’s first mass market vehicle-to-grid (V2G) tariff - Octopus Power Pack - which offers free home charging for drivers. This is expected to save the average driver more than £850 a year compared to charging on a standard variable tariff. There is a sting though - the charger you'll need to use is expected to cost around £6,000 and isn't generally available until later this year. It also only currently works with older cars.
The tariff, which is still in beta testing, uses V2G technology to balance charging and discharging when it’s best for the grid – charging up the car with cheaper electricity during off peak times and exporting back to the grid when demand is higher.
Drivers will need to plug in their car for roughly six hours a day and the rest of the process is automated. Octopus claim it will leave drivers with guaranteed free charging
The new Octopus Power Pack tariff is available to drivers with V2G compatible electric cars, which are currently older models, mainly using the CHAdeMO format – the Toyota Prius Plug-In, Citroen C-Zero, Nissan Leaf, Mitsubishi Outlander PHEV, Nissan e-NV200, Kia Soul EV Mk1, Citroen Berlingo Electric Mk1 and Tesla Model S (with an adapter fitted). Octopus say there are more car makers planning compatible models in the near future.
These cars must be connected to the single charger which currently has V2G compatibility – the Wallbox Quasar V2G. Any customers enquiring about the tariff on the Octopus website will be told they are not eligible without the charger but it is not available yet in the UK, with Wallbox telling us: "The Quasar 2 model (bidirectional charger) has been announced and is likely to be released mid to late this year (no set release date), however, due to it still being in development, further information cannot be shared." However, pricing has been revealed in Europe, at €7,188 - around £6,100 - plus fitting. However, it is known that car makers including Renault are working on thier own chargers which are expected to be cheaper.
Octopus Power Pack works as a 'bolt-on' that separates charging from the rest of the home and runs alongside each customer’s regular energy tariff.
You will also need permission to export energy to your local distribution network (with a G99 certificate) and be able to plug in for roughly 12 hours a day every couple of days, and charge less than 333kWh per month (equivalent to 1,084 miles of driving).
For an average Octopus customer driving 10,000 miles annually with typical home energy the combined cost on Flexible Octopus + Octopus Power Pack would amount to £1,360/year. This represents a saving of £876/year compared to a standard variable tariff, or £172/year compared to Intelligent Octopus Go.
Octopus recently passed 200,000 customers signed up to its EV optimised tariffs - Intelligent Octopus Go and Octopus Go - making up roughly a fifth of electric car drivers on UK roads.
