Octopus Plunge Pricing scheme heads to France

Octopus Energy is launching its Plunge Pricing scheme in France in partnership with public charging operator Powerdot.

Plunge Pricing rewards drivers with lower rates for plugging in when the grid is greenest and wholesale electricity prices drop. Octopus said its Plunge Pricing events have already collectively saved drivers nearly £100,000 since launching the scheme in 2024.

Initially available at all 7,000 Powerdot ultra-rapid chargers in France, Electroverse is already set to roll out its Plunge Pricing innovation across more chargepoint brands over time. 

The Electroverse charging payment service is already linked to 97% of the 172,000 French public chargers, drivers can power up via the network almost anywhere they travel.

Since landing in France in 2022, Octopus has soared to the country’s fifth-largest energy supplier, delivering green energy and stellar service to over 750,000 customers nationwide.

Matt Davies, director of Octopus Electroverse, said: “So far in the UK we’ve already helped customers save almost £100,000 with our Plunge Pricing, so we’re buzzing to expand it across the channel into Europe for the first time!

“France is the perfect place to kick things off. Certainly for local drivers, but also for the many UK drivers on holiday or passing through. Drivers can now snag some serious savings on the go, thanks to the flexibility of a renewable-powered grid. And this is just the beginning as we’re gearing up to roll Plunge Pricing out to even more charging networks and drivers globally.”

Afonso Ramos, chief product officer ay Powerdot, said: “Octopus has a remarkable ability to turn energy innovation into tangible benefits for customers. At Powerdot, we share that ambition to rethink electric mobility and make it more accessible and more affordable for drivers. 

“We’re particularly excited to introduce Octopus’ plunge pricing model to the French market together, aligning EV charging with periods of excess renewable energy to unlock lower costs for drivers across the country.”