Energy Minister Claire Perry has hailed OVO Energy for its “innovative” electric vehicle products – enabled by smart meters – which could see millions save and even make money from their electric cars.
OVO Energy is one of just a few companies already using smart meters to offer innovative products, such as rewarding customers for charging their electric vehicles at off-peak times. These offers, made possible thanks to a smart meter, help customers use energy at times when there is less demand on the grid, in turn saving money on their bills.
Smart charging and Vehicle to Grid charging could become a cornerstone of the way we use energy in the UK, with more than 8 million people in Britain considering buying or leasing an electric vehicle in the next 5 years. With this technology, customers will not only be able to choose to use energy at the cheapest times but also make money by selling energy from their vehicle’s battery at times when it is most in demand. This will support the growth of renewable energy generation in the UK.
Smart energy innovations, such as smart tariffs and smart charging, could save the UK as much as £40bn between now and 2050.
Smart meters also support OVO’s intelligent platform VCharge, which is enabling residential appliances such as electric vehicles, electric heaters and in-home batteries to help balance the grid and reduce energy costs.
“New innovative products and tariffs like these will put consumers in the fast lane when it comes to control of their energy use, saving and even making them money when using their electric vehicles.”