Octopus, now one of the big six, innovate again. New to me, old-ish news.
The gist...https://electroverse.octopus.energy/com ... ge-pricing
We're very excited to announce that from November 2023, Octopus Electroverse has launched Plunge Pricing - discounts on the public charging network when energy is in high supply!
Neil
What is Plunge Pricing?
Plunge pricing is an exciting development on the Electroverse network, which allows certain networks (supplied by Octopus Energy) to benefit from cheaper prices when energy's in high supply - these cheaper costs can be passed straight through to the EV community!
Why is there excess energy on the grid?
This doesn't happen all the time - but it is becoming more frequent for a number of reasons:
High solar generation from a very sunny few days
High wind generation from a few windy days Etc.
When this happens, the amount of available energy exceeds the amount of energy typically needed.
In other words, if a local corner shop selling strawberry-flavoured Octopus sweets has more stock than they can keep, what happens? Discounts......Voilà: Plunge Pricing.