Octopus Energy is integrating electric cars owned by its customers into the National Grid’s Balancing Mechanism (BM).
The BM uses flexible assets like electric vehicles, batteries and gas power stations to ensure supply meets demand.
Through a trial involving Octopus customers with electric cars, the success of this initiative has led to potential savings and a greener alternative to traditional power stations.
Analysts note that if all ten million forecasted electric cars on UK roads by 2030 participate in compatible tariffs, system costs could be reduced significantly.
Alex Schoch, Head of Flexibility at Octopus Energy, said: “We’ve empowered customers to take an active role in the energy system by standardising the process with National Grid and using cutting-edge technology.
“This will accelerate the transition to a cheaper and more sustainable future. This bottom-up approach to energy transition benefits consumers and drives down system costs, ensuring that everyone profits from the shift towards electric transport.”
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