Octopus Energy increases export rates for ‘Octopus Go’ customers

• Octopus to double export rates for ‘Octopus Go’ customers to 8p/kWh
• 6,000 electric vehicle and solar customers to automatically switch to higher rate
• Average household with an EV and solar panels to earn an additional £66 a year

London, 12th September 2023 - Octopus Go, the company’s original electric vehicle tariff, continues to lead the way by boosting export payments to customers who also have solar panels.

Customers enrolled on the hugely popular ‘Octopus Go’ tariff - which provides super cost-effective overnight charging for electric cars - previously received 4.1p per kilowatt hour (kWh) of exported electricity via Octopus’s Smart Export Guarantee (SEG) tariff.

Thanks to the introduction of Octopus’ new export tariff ‘Outgoing Fixed Lite’, these customers will now receive 8p for every kWh exported back to the grid.

6,000 eligible customers will be contacted today and automatically switched in the next week, starting to earn more without lifting a finger.

Octopus has seen a significant jump in solar export customers, with the total number of customers exporting back to the grid doubling in the last year.

As Octopus Energy’s ‘Intelligent’ and ‘Go’ EV tariffs have grown to serve well over 100,000 vehicles, the company has been able to optimise EV charging against cheaper periods for the energy grid. This has allowed Octopus to unlock even more savings that can be passed on to EV customers with an increased export rate.

An average Octopus Go household could expect to make an additional £66 a year via the new tariff ‘Outgoing Fixed Lite’.

Rebecca Dibb-Simkin, Chief Product Officer at Octopus Energy, said:

“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.”

This news follows hot on the heels of Octopus increasing export rates for its customers on its ‘Intelligent Octopus’ tariff too. Customers on the tariff can now export energy back to the grid for 15p per kWh via the ‘Outgoing Octopus Fixed’ tariff, quadrupling their previous price.

Octopus has been pioneering smart tariffs like ‘Octopus Go’ and ‘Intelligent Octopus’ for several years. The energy supplier now has hundreds of thousands of customers on its smart tariffs. ‘Octopus Go’ and ‘Intelligent Octopus’ are two of the most subscribed EV tariffs in the country.

-ENDS-

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About Octopus Energy Group

Octopus Energy is a global energy and technology group, driving the affordable, green energy system of the future. Its operations span 14 countries and the entire energy value chain. The group invests in, builds and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.

Octopus serves 5.4 million customers through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support 30 million customer accounts worldwide through licensing deals with energy companies, including EDF, E.ON and Origin Energy.

Kraken enables Octopus to drive the electrification of heat and transport through smart tariffs and innovative cleantech. Backed by pension funds, investors and energy giants, Octopus Energy Group businesses deliver cheaper, greener energy and cutting-edge tech to countries and customers worldwide. For more information, check out our website.