Ofgem has been receiving letters from members of the Ovo Energy’s Flexibility First Forum who are highlighting how much the UK could have saved if we had an energy system in place that was more intelligent and took advantage of the benefits of electric vehicles (EVs) and smart chargers. Estimates indicate that having more EVs and smart chargers in the UK could have seen the National Grid save up to £133 million while the country has been in lockdown.
The Cost Of Lockdown…
Lockdown has seen the country plunged into a period of extreme change, and one of those changes is an abundance of renewable energy generation, coupled with a record low demand for energy, both of which have caused challenges for our national electricity system operator when it comes to balancing energy requirements.
With balancing costs for the National Grid increasing by £500 million this summer, consumers will find they are ultimately footing the bill for a system that’s outdated and lacking in flexibility, with additional charges being added to their energy bills in order to cover the shortfall.
These extra charges have come from the additional actions the National Grid has been forced to take in order to balance supply and demand during lockdown, including paying for renewable generation to be switched off when there is an excess of energy being produced than can be used at that time.
How Electric Vehicle Smart Chargers Could Have Saved Us Money…
Electric vehicle smart charges are capable of supporting the energy grid by intelligently charging and storing energy. By charging during periods of low carbon intensity and demands, EVs are capable of creating a lower cost and more resilient system.
Octopus Energy’s CEO and founder, Greg Jackson, said: “The bank holiday weekends have been a wake-up call. With a flexible, digital grid, cheap renewable power would have saved households money. Without it, they will be forced to pay billions in infrastructure upgrades and compensation payments. We need to fix this, fast.”
Now the community on the Flexibility First Forum has come forward with information indicating that if just 6 million electric vehicles were in use – that’s one electric vehicle owned by less than 10% of the UK’s population – it would have resulted in a saving of £133million.
PassivSystems’ chief executive, Colin Calder, said: “The size of savings in the future energy system should not be overlooked. Smart devices will allow customers to receive tangible benefits for using their energy demand effectively, but by co-ordinating energy across households there can be even greater savings to the grid without affecting the experience of the customer.”
Time You Switched To EV?
If lockdown has proven to be a wakeup call for you, either personally or professionally, and you’re looking to switch to an EV or Go Green in your business, we’re here to help. Give us a call today and we can talk you through exactly how fitting an EV smart charger or charging station can save you money…