Texas Retail Provider Offering Managed Charging EV Service To Residential Customers, Including Monthly Bill Discount

Octopus Energy U.S. today announced "Intelligent Octopus for EV,", which the retail provider described as, "a smart-rate that will give drivers across Texas cheaper electricity rates when they smart charge their electric vehicles."

"Customers can now pair their EVs with Intelligent Octopus to automatically find the best, most efficient time to charge and save up to 20 percent on their monthly home electricity rate," Octopus Energy said

"Starting today, Octopus Energy [in Texas] customers will be able to register and connect their EVs via Octopus Energy’s mobile app that responds to various grid signals. By letting Octopus Energy smart charge the vehicle, customers will get a discount off their standard electricity rate for their entire household consumption. Customers just need to set their own preferences – and Intelligent Octopus will handle the rest," Octopus said

Intelligent Octopus, "is a smart device management feature that rewards customers for helping to balance the grid when the grid is constrained, so long as your device remains connected. This allows Octopus Energy to offer the cheapest electricity rates in the market by unlocking customer flexibility," Octopus said

Intelligent Octopus provides customers with a $30 monthly discount on their electricity, which equals a rate of 11.6 cents, Octopus says on its website

"Use the Octopus app to set how much you'd like to charge up, and by what time – and we'll handle the rest ... With our handy, hassle-free app, you're in control. Tell us when you need your car charged, and by how much. Need to charge your car sooner? Override your settings in the app at any time to charge your car at normal rates," Octopus says on its website

"In the grid of the past, customers who bought the highest volume of power had the cheapest energy rates. Now that we’ve started the energy transition, those who have the most flexibility will see incredibly low electricity rates," said Michael Lee, CEO of Octopus Energy U.S.

Octopus previously launched various other services for EV owners, including an on-bill financing solution

In the United Kingdom, Intelligent Octopus manages over 100 MW of EV charging power, "which surpasses the largest battery on the UK grid," Octopus said