Octopus Energy to double the export rate of its EV tariff

Octopus Energy has confirmed that it will almost double the export rate of its electric vehicle (EV) tariff ‘Octopus Go’ to 8p/kWh.

The export rate for Octopus Go, which provides cost-effective overnight charging for EVs, was previously priced at 4.1p/kWh for exported electricity via the company’s Smart Export Guarantee (SEG) tariff.

Copyright: maridav / 123RF Stock Photo

But through the introduction of the new export tariff ‘Outgoing Fixed Lite’, those customers with solar panels and an EV will now receive 8p for each kWh exported back to the grid via vehicle-to-grid (V2G) technology. Octopus stated that the use of this tariff could see an average household make an additional £66 a year.

“Octopus Energy is the number one EV tariff provider for a reason. Thanks to our customers and their EVs helping balance the grid at night, we’ve continued to unlock savings to pass on to our greenest customers. Octopus Go customers with solar panels will now earn twice as much money for the energy they export back to the grid – it certainly pays to be green,” said Rebecca Dibb-Simkin, chief product officer at Octopus Energy.

Last week, Octopus Energy announced a number of initiatives to support EV drivers, including a new 15p per kWh export tariff, and a community energy EV charging partnership with Co Charger.

Read more: Current+

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