Octopus Energy is leading a consortium that plans to roll out the UK’s first large scale, domestic vehicle to grid charging network in London this year.
A relatively recent entrant to the UK energy generation and supply market, Octopus is joined in the consortium by Open Energi, Octopus Energy, Octopus Electric Vehicles, UK Power Networks, ChargePoint Services, Energy Saving Trust and Navigant.
£7m wheels in motion
The £7m project, with £3m of support from government agency Innovate UK, will see 135 chargers installed in clusters which should enable research into the potential impact of larger scale implementation across the UK’s electricity distribution system.
The project also aims to demonstrate the benefits of electric vehicles helping to provide grid ﬂexibility. A two way intelligent charging system allows vehicle batteries to be used to help provide electricity at peak times, as well as cheaper transport and energy to homeowners.
Driving down energy costs
Fiona Howarth, CEO of Octopus Electric Vehicles, said: “Octopus Energy was founded to drive down the cost of energy to customers and the planet, and Octopus Electric Vehicles is the next phase in that mission.
“There has been a lot of talk from the side lines about how vehicle-to-grid technology will change the face of energy, but with this consortium we will be the first in the UK to actually deliver it to hundreds of households. We’re delighted to be working with this consortium of visionary companies, and proud to be backed by Innovate UK.”