Ofgem has set out how it will support the rollout of electric vehicles (EVs) in the UK, first and foremost ensuring the necessary infrastructure is in place for the estimated 14 million EVs that will be on our roads by 2030.
The main points Ofgem will focus on are as follows:
- Preparing the energy network for increased energy uptake due to EVs being charged. Investment is already taking place, with 300 million approved by Ofgem in May 2021.
- Ofgem is suggesting to bring down costs of connecting to the grid for EV charging stations, enabling greater access to charging points.
- When not in use for elongated periods, Ofgem is suggesting EV owners will be able to charge their vehicles for less.
- Creating vehicle-to-grid technologies that will allow EV owners to earn money by exporting unused electricity from their car battery back to the grid, which will mean less energy generation will be needed at peak times.
- Working with energy suppliers to make sure there's a range of products, services and tariffs for UK energy consumers to take advantage of.
Launching Ofgem’s strategy to consumers at Fully Charged Live Neil Kenward, Ofgem’s Director of Strategy and Decarbonisation, said:
“Electric vehicles will revolutionise the way we use energy and provide consumers with new opportunities, through smart products, to engage in the energy market to keep their costs as low as possible."
Our electric vehicle priorities not only provide a way to meet our climate change targets but importantly offers ways to protect consumers from rising bills, through a 3-prong approach of increased use of electric vehicles, smart charging and vehicle-to-grid technology which together can help drive down costs for all GB bill payers.”
Mark Bennett, energy expert here at Energy Helpline, says:
“Putting in place the infrastructure to allow the millions of British car owners to embrace the electric vehicle revolution is an important stepping stone in the drive to ‘net zero’."
“We are already seeing energy providers offer tariffs that allow owners of electric car to charge their vehicles at off-peak times, when electricity is cheaper, saving households hundreds of pounds a year."
“And the development of technology to enable stored energy to be sold back to the grid, means consumers will pay even less on their energy bills, reducing the cost of powering their home and vehicles even further.”