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Posted 11 months ago | 3 minute read

Ofgem sets out priorities for EV revolution

The energy regulator, Ofgem, has launched an electric vehicle (EV) strategy, that includes plans for the wider adoption of smart charging and vehicle-to-grid (V2G) technology.

Published on 4 September, the report highlights the need for infrastructure and technology to be put in place for the rapidly growing number of EVs on the road, with an expected 14mn by 2030. To support this, Ofgem has outlined four priority areas to advance the EV transition. These include

Co-Founder and Chief Executive at GridBeyond, Michael Phelan, said:

“EVs are expected to revolutionise the way we use energy and provide consumers with new opportunities to engage in the energy market through smart charging and vehicle-to-grid technologies. The biggest challenges for the grid with the rise of EVs are around demand volume and time of charging.

“Price dynamics are already creating an opportunity for EV owners. We are helping our customers by finding the optimal tariffs to reduce their charging costs. By automating their systems to charge only when the electricity price has fallen to a given level, we are helping to reduce costs. By going beyond optimisation and enabling bi-directional V2G charging, these customers could send electricity back to the grid at times of peak demand. This creates a new revenue stream, by providing flexibility services when the price is right.”

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16th September 2021

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