Octopus Energy halves kerbside charging costs

Octopus Energy is making cheaper for more people to switch to electric cars via an offer that unlocks 50% cheaper kerbside charging for drivers without a driveway.

New customers of EV-only leasing company Octopus Electric Vehicles (OEV) can now charge on-street from 22.5p per kWh (7p a mile).

Octopus says the savings are significant. A full charge for a typical MG4 electric car would cost around £16 at the discounted rate, about 7p per mile. That is around 5p per mile more than smart charging at home and half the cost of running a Volkswagen Golf at around 17p per mile and £75 a tank, says the company.

Initially launching at 20,000 chargepoints from on-street charging specialists Ubitricity and Connected Kerb, Octopus plans to roll out the offering to more locations and brands across the UK.

Gurjeet Grewal, chief executive of Octopus Electric Vehicles, said: “We’re making EV driving cheap for everyone, not just those with driveways. We’ve already helped thousands of drivers switch to electric but the landscape is changing fast, and more people without driveways are becoming EV-curious. 

“With the increased prevalence of affordable kerbside charging and cars, now’s the perfect time to offer drivers a bundle designed for those who can’t charge at home. 

“By cutting kerbside charging costs in half, even more drivers can enjoy the savings and simplicity of going electric – and we’re thrilled to help people from all corners of the UK join the EV revolution.”

Matt Davies, founder and director of Octopus Electroverse, said: “For too long, not having a driveway has meant paying more to go electric. That's never sat right with us. EVs are getting cheaper, technology is getting better, and now public charging is catching up, too.

“And this is just the start – we're already gearing up to bring more networks on board to expand the offer, and the door is wide open for chargepoint operators who want to join us.“

The offer comes after Octopus reports a 36% spike in EV leasing interest as volatile fuel prices push more consumers towards the stability of electric.