Innovative smart tariff makes car charging greener and reduces costs by 63%
Unique ‘type of use’ tariff launched by OVO Energy, powered by Kaluza technology
Protects electric vehicle (EV) users against price spikes and higher charges by guaranteeing a low price throughout the day, saving an average of £200 per customer per year
By plugging into Kaluza’s world-leading energy platform, EV owners can take advantage of AI software that automatically optimises their car to charge when emissions and prices are low
London - Wednesday, 27th January 2021 - Kaluza, the leading intelligent energy platform, and OVO Energy today announce the launch of OVO Drive Anytime - the world’s only ‘type of use’ energy tariff.
The unique pricing model offers EV drivers a flat fee of 6p per kWh at any time of the day. Compared with the average cost of electricity on a standard tariff, consumers stand to save as much as 63% - or £200 - on fuelling their car throughout the year.
The new concept contrasts to most EV tariffs available today that require customers to plug in at certain times, often at night, in order to access cheaper, off-peak rates. These ‘time of use’ tariffs can often mean EV users are punished for using more expensive energy for their homes during the day, offsetting savings on their EV energy. OVO Drive Anytime is the only tariff to guarantee cheaper rates for EVs even in times of high energy system stress, such as those in the first two weeks of 2021 where customers on ‘time of use’ tariffs were paying as much as 35p per kWh for their electricity.
OVO Drive Anytime customers are insulated from these fluctuating prices because of technology developed by OVO Group’s intelligent energy arm, Kaluza. By using live data on energy pricing, the weather and local network constraints, Kaluza intelligently shifts EV charging away from peak times to dynamically capture the cheapest and greenest electricity on the market. The platform's ability to change EV charging patterns in real time provides vital support to network operators as they manage peaks on the grid - services that will become increasingly necessary and increasingly valuable as millions more EVs connect to the system.
The OVO Drive Anytime tariff is being launched in its initial phase and is planned to be rolled out to more OVO Energy members later this year.
Marzia Zafar, Head of Strategy and Policy at Kaluza, commented:
“Electric vehicles and renewable energy are the perfect companions for a zero carbon world, but we have got to demonstrate that they can be easier and cheaper, as well as greener. Our intelligent software is designed to give EV users the energy they need, precisely when they need it, at the lowest environmental impact, and now at a guaranteed price that saves them money. In doing so, Kaluza shields customers from the complexities of the energy transition, while at the same time driving it forward.”
Jessica Tan, Managing Director of OVO Smart Home, commented: “OVO Drive Anytime enables our EV driving members to charge their EVs on the lowest prices throughout the day, hassle free. No more worrying about high energy peak prices or when to plug and unplug, Kaluza’s technology does all the hard work and is good for the planet. This is a pioneering proposition and we are excited for our members to be shaping the future of energy with us.”
Notes to Editors
6p/kWh calculation: Average unit price in the market (among the top ten suppliers) is 16p/kWh, based on the London region. Type of Use is 6p/kWh. Assuming an EV uses 2,000 kWh per year charging at home, this equates to £120 on OVO Drive Anytime and £320 on a normal tariff - a 63% saving.
<2p/mile calculation: the OVO Drive Anytime rate is 6p/kWh for EV charging.
A Tesla Model 3 does 240 Wh/mile, or 4.17 miles per kWh (Source).
A Model 3 driver could therefore charge on the OVO Drive Anytime tariff for 1.44p/mile.
Part of OVO, Kaluza is the leading intelligent energy platform powering the future of energy. From revolutionising billing to smart electric vehicle charging, Kaluza’s technology is empowering some of the biggest energy suppliers to better serve millions of customers. Its real-time cloud platform transforms supplier operations, reducing cost to serve and boosting customer engagement. Powered by Kaluza, suppliers can invest in innovating for tomorrow’s customers and drive decarbonisation with smart, low carbon technologies that not only reduce energy bills, but lay the foundations for a more flexible energy system. www.kaluza.com
About OVO Energy
OVO Energy was founded in 2009 and redesigned the energy experience to be fair, effortless, green and simple for all customers. The company has spent the last 10 years investing in the market leading technology, customer service operations and digital products to help members cut their carbon emissions. OVO is on a mission through its sustainability strategy Plan Zero to tackle the most important issue of our time; the climate crisis, by bringing our customers with us on the journey towards zero carbon living. OVO Energy has committed to being a net zero carbon business and achieve bold science-based carbon reduction targets by 2030, while helping members halve their carbon footprint at the same time.