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Houston-based renewable energy retailer Octopus Energy has announced a new exclusive home energy program in partnership with American electric vehicle (EV) manufacturer Rivian . The program, available to all Rivian customers in Texas where Octopus Energy operates, offers a 100% renewable energy plan for both homes and vehicles.
The plan, which is exclusive to Rivian customers, features a time-of-use energy rate with an overnight off-peak rate discounted by up to 50%. This initiative aims to provide clean, affordable electric vehicle charging and reduce home energy costs. The collaboration marks Rivian’s first partnership with a retail energy provider, potentially helping Rivian owners to significantly cut their energy expenses while promoting a reliable, carbon-free energy grid.
Electricity prices typically vary with demand, being higher during peak periods such as weekday evenings and lower during off-peak periods like late at night or early in the morning. The new Rivian plan encourages Texans to charge their vehicles overnight (10:00 PM – 6:00 AM) to alleviate stress on the grid. Rivian customers participating in this plan will also receive a $150 credit on their Octopus Energy bill after 90 days.
Michael Lee, CEO of Octopus Energy, stated, “Demand flexibility is the key to a cleaner, more affordable, and sustainable energy future. This means being flexible with when and how you use energy, such as shifting energy-intensive tasks like charging your electric vehicle to off-peak hours. We’re proud to partner with Rivian to bring our innovative technology to more Texans at a discount and power a more sustainable grid.”
Andrew Peterman, Director of Advanced Energy Solutions at Rivian, added, “Rivian is proud to team up with Octopus Energy to support innovative solutions that connect customers to cleaner, more reliable, and affordable energy. Transitioning the energy system to cleaner sources of power is essential to our mission, and we are excited to join Octopus in creating opportunities for Rivian owners to accelerate this change with renewable energy plans that also help lower the cost of electric vehicle ownership.”
This new program builds on Octopus Energy’s array of innovative offerings for Texas customers. Octopus Energy customers can also utilize the ‘Intelligent Octopus’ platform, which automates energy usage and rewards customers with savings for using energy during low-demand periods. The platform provides the cheapest energy rates when a compatible smart device, such as a smart thermostat or EV charger, is connected. |
