Mobility Portal, Spain
Date: June 5, 2024
Inés Platini
By Inés Platini
Spain flag

How to reduce charging costs? Octopus Energy has found the solution and will launch it in Spain

This product from Octopus Energy will promote intelligent electric vehicle charging in Spanish households. It has already been a success in the United Kingdom and is expected to have the same impact in Spain. How will it achieve this?
How to Reduce Charging Costs? Octopus Energy Has Found the Solution and Will Launch It in Spain

It is the Intelligent Octopus Go, a system that enables remote charging of electric vehicles.

The user simply plugs in their car and indicates how much energy is needed, and the system automatically schedules the charging for the most economical and greenest hours of the day.

How does it work? Within the framework of the International Mobility Portal SummitPaco Albert, Strategy & CFO at Octopus Energy, explains:

“Since the system knows the time at which the user needs the vehicle and the percentage of charging required, and also knows the current D&G prices, it is responsible for ‘refueling’ the car optimally to maximize savings.”

In England, furthermore, this solution is combined with the flexibility market, that is, a segment in which citizens receive compensation for stopping charging and relieving congestion on the network.

“In Spain, the flexibility markets are not developed like there and it is something that must gradually reach the country,” he points out.

When will this take off in the national territory?

According to Paco Albert, these solutions will become even more important when these markets are developed in accordance with European directives. 

These aim to reform the electricity industry to offer affordable and stable prices to consumers, protect customers and encourage the development of renewable energy and energy storage.

“I consider that currently the flexibility market is beginning to be interesting, especially due to the price of electricity during solar hours,” he maintains. 

In this context, the Intelligent Octopus Go is ideal to supply the current and future demand for the electric link, especially in relation to fast charging on the road, which will have a great impact.

However, the company not only improves the supply of zero and low emission cars, but also encourages the purchase of these.

In this sense, the Strategy & CFO emphasizes that the electric car “should be promoted by the General Directorate of Traffic (DGT)”.

As responsible for the execution of road policy on state-owned roads, the entity is responsible for promoting safe driving.

“When I traveled by combustion car, I used to do more kilometers than I should because the vehicle allowed me to,” explains Paco Albert.

However, the electric has forced him to make more stops of five or ten minutes to recharge approximately every two hours.

This has made travel safer, so it is something that the DGT should emphasize,” he insists.

How is Octopus positioned in Spain?

The global energy company already has a presence in Japan, Australia, the United States, England, Italy, Germany and France.

And furthermore, two years ago it was already in Spain, where it entered the electromobility market 16 months ago.

Currently, the company has a customer base that exceeds 7 million in total for electricity supply. 

As it also has various divisions , which include electric vehicle chargers, the installation of solar panels for self-consumption and batteries for energy storage.

“It provides a 360-degree service regarding the energy transition,” says the representative of the firm.

At the national level, the company has already reached the milestone of carrying out 250 charger installations per month and aims to double this figure, reaching 500 installations in June

Furthermore, it does not rule out the possibility of exceeding 6,000 charging points deployed this year.

In 2016, Octopus Energy began operations as a small energy supply company in the United Kingdom, subsequently achieving leadership in that market.

Octopus Energy offices in Spain.

How did its name originate?

The company’s founders had a company focused on customer service and technology, known as Kraken, which Octopus now offers and provides to other companies. 

Right now, more than 50 million accounts use this platform.

One of the firm’s first investment rounds has been carried out by Octopus Investment.

So the company name was adopted and then the brand director designed the octopus, which has become a distinctive symbol of the company. 

One of the company’s great successes is Constantine, as the octopus is called, which has contributed significantly to making the brand known and reflects our customer service,” emphasizes Paco Albert.

Relive Octopus Energy’s presentation at the International Mobility Portal Summit:

Separator Single Post

Leave a Reply

Your email address will not be published. Required fields are marked *