Electric car drivers in Britain can benefit from cheaper public charging when green energy is abundant thanks to a groundbreaking innovation from Octopus Electroverse.
‘Plunge Pricing’ events happen when cheap renewable generation is high and demand is low, so wholesale electricity prices fall. Drivers using Octopus’ Electroverse get discounts for taking excess energy off the grid at these sunny and windy times.
Electroverse has so far trialled five of these events at over 7,500 charge points across brands like IONITY, Osprey, Blink, Be.EV, GeniePoint and Raw.
Discounts to date have ranged from 15%-45% per kWh. There is even potential in the future for drivers to get paid to charge up their car when wholesale prices go negative.
Octopus expects to have dozens of ‘Plunge Pricing’ events over the next year, with plans to expand the innovation across even more charge point brands into the future.
Hundreds of customers have already taken part and saved £6.50 on average on a single charge. Electric car drivers could save up to £250 a year as a result of this new service.
This is the latest benefit offered by Octopus Electroverse’s revolutionary ‘one card, one app’ model which is making public charging easier and cheaper than ever before. It is the UK’s largest EV roaming service, nearly tripling its customer numbers in the last year alone and giving customers access to more than 700,000 chargers across the UK & Europe.