Wallbox & Octopus Energy partner to reduce EV charging costs

Global energy and technology group Octopus Energy is driving the affordable, green energy system of the future. With operations spanning 17 countries, the group invests in, builds and flexibly manages renewable energy, operating a £6 billion portfolio of projects – one of Europe’s largest.

Octopus serves 5.8 million customers through its retail arm, and has licensed its advanced data and machine learning platform, Kraken, to support over 30 million customer accounts worldwide through licensing deals with energy companies, including EDF, E.ON and Origin Energy.

“We are proud to announce the partnership with Octopus to implement smart solutions and avoid having to meet increased demand with fossil fuels”, said Ashley McFadden, Wallbox Sales Team Lead. “Parliament states that demand for electricity will increase by about 50% by 2035. We believe that EVs will determine a large share of it.”

Smart energy management for cheaper EV charging

The strategic partnership between Wallbox and Octopus Energy Group is not the first —previously, Wallbox installed Quasar, the first generation of its bidirectional charger in consumers’ households to offer grid services, saving users about £360 annually.

This time around, the use of smart EV charging tariff ‘Intelligent Octopus Go’ will unlock significant savings for Wallbox customers — some EV drivers save around £600 annually. 

Through the system, cars are charged when the grid is cheapest, and usually greenest. It offers an innovative solution for combating climate change and catering to eco-conscious energy consumers. 

The ‘Intelligent Octopus Go’ app allows users to schedule the time and amount of charge they need their car back with. Octopus’s tech platform, Kraken, then automates charging during peak renewable energy times, preventing millions of tons of CO2 emissions. It optimises the grid, enhancing energy system reliability and stability, while bringing down energy costs for everyone.

Wallbox and Octopus will cooperate in reducing charging costs. ‘Intelligent Octopus Go’ manages the UK's largest virtual power plant, surpassing the grid's biggest battery, now at 500MW through electric vehicles.

“We created ‘Intelligent Octopus Go’ to keep charging costs for EV drivers as low as possible, saving them hundreds of pounds each year whilst taking pressure off the grid by charging their cars when it is greenest. Going green isn’t only good for the planet, it’s also good for your pocket, and we’re thrilled that these super cheap rates are now also available to Wallbox customers”, said Alex Schoch, Head of Flexibility and Electrification at Octopus Energy. 

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