Hosted by IDTechEx
Electric Vehicles Research
Posted on February 16, 2021 by  & 
External Company Press Release

Switching to Electric Vehicles Made Easier by NatWest and Octopus

NatWest Group has today launched a joint offering with green energy tech company Octopus Energy to help people and businesses go green, demonstrating the bank's commitment to playing an active role in tackling climate change as part of its purpose-led strategy. The package is available to NatWest Group's retail, business and wealth customers who will now be able to purchase EV charge points at discounted rates. This bundled solution offers the entire stack of infrastructure, technology and software needed to switch to electric vehicles, and also includes a comprehensive assessment of each customer's needs. Today's offering is the first time a major bank and a renewable energy supplier have come together to provide such a solution. For further information see the IDTechEx report on Charging Infrastructure for Electric Vehicles and Fleets 2021-2031.
 
Benefits include*:
  • Discounted EV charging technology and installation
  • Access to Octopus Energy's 100% green electricity tariffs and smart meters
  • Free access to Octopus Energy's 'Electric Juice Network' - the UK's only EV roaming service which allows customers to access public charge points across the country, with all costs appearing on their energy bill
  • Solar and battery technology to complement the core charging infrastructure offer
  • Funding options for businesses from NatWest
  • Potential grid upgrade and access to fleet management software if required (for business customers only)
 
 
Customers will also benefit from Octopus Energy managing the process required to take advantage of applicable government grants available.
 
James Close, Head of Climate Change at NatWest Group, commented: "By working with Octopus Energy, we are offering a bundled solution to help people and businesses go green. We are determined to play an active role in the UK's transition to a low carbon economy and accelerating the take up of electric vehicles is a crucial part of the transition. This access to EV charging technology will make it easier and more affordable for our customers to make a positive difference to our environment."
 
Greg Jackson, CEO and founder of Octopus Energy, commented: "Transport accounts for a third of the UK's carbon emissions, making it the country's largest emitting sector and in desperate need of transformation if we are to reach Net Zero. Octopus Energy is so excited that NatWest has committed to promoting sustainable practices and will be joining us on this mission to green our roads. If more people and businesses realised the bonkers savings they could get and switched to an EV, the benefits it would have on our planet would be massive."
 
*All of the above benefits outlined, with the exception of the funding element, are provided by Octopus Energy. To be able to access this offering in full, you must take advantage of the charging point element. Some elements also require you to sign up as an Octopus customer. Offer applies to all customers within the United Kingdom, regional exclusions apply. Smart meter, energy supply tariff and Electric Juice Network excluded in Northern Ireland.
 
 
Funding options - Security may be required. Product fees may apply. Finance is only available for business purposes.
 
NatWest Group receives a fee from Octopus Energy for customers it introduces to them that subsequently purchase products or services from Octopus Energy.
 
Press contacts:
Trish Regis
Media Relations Manager, NatWest Group
 
Dominic Bellamy
PR Manager, Octopus Energy
 
 
About the joint offering:
NatWest has a range of funding options* and tailored advice that customers may be able to access to help finance the infrastructure and technology available as part of this offer. Octopus Energy will provide the delivery and installation of the service, using dedicated engineers to install EV charge points, smart metering and new grid connections where current capacity is insufficient. Octopus is also providing its Agile Octopus tariff, the world's first half-hourly tariff, allowing customers to charge during off-peak hours and make considerable savings on their energy bills.
 
 
The scheme is available to customers of NatWest Group through the following brands:
  • NatWest
  • Royal Bank of Scotland
  • Coutts
  • Adam & Co
  • Lombard
  • Ulster Bank NI
 
About NatWest Group
NatWest Group is a leading banking and financial services group in the UK and Ireland. We operate through a number of well-known banking brands. We have a presence on the high street through our customer facing brands - NatWest, Royal Bank of Scotland and Ulster Bank. We are the largest supporter of UK business, banking around 1 in 4 businesses across the UK. Our private banking customers know us through their relationships with Coutts, Adam & Company, Child & Co and Drummonds. And NatWest Markets help our corporate and institutional clients manage their financial risks and achieve their short and long-term financial goals.
 
About Octopus Energy
Octopus Energy launched to the public in April 2016. It supplies 100% renewable electricity and gas to over 1.9 million UK homes. Octopus Energy is the only energy supplier to be recommended by Which? for four years in a row. It also recently won Best Utility at the Utility Week Awards. Founded by e-commerce entrepreneurs, Octopus Energy has a different starting point to other suppliers, aiming to redefine what is possible for consumers and the system by using technology and data to deliver the best products and experiences. Octopus Energy is backed by Octopus Group, a financial services and energy firm, which manages more than £9.1bn of funds. Octopus has invested more than £3bn in renewable assets across Europe, while its ventures arm has backed UK success stories like Zoopla, Depop, Secret Escapes and SwiftKey. In December 2020, Octopus Energy Group was valued at over $2 billion after closing it's second investment round of the year led by international energy companies Tokyo Gas and Origin Energy.
 
 
Source: Octopus Energy
More IDTechEx Journals