V2G and smart charging central to Ofgem work to be EV-ready
Ofgem has set out plans for how it will ready the grid for the roll-out of EVs and help drivers make the switch.
The energy regulator said it’s making sure the infrastructure and technology is in place for the rapidly growing number of EVs – an estimated 14 million will be on the roads by 2030.
And it’s focused on making sure the EV rollout brings benefits for consumers – including reducing the cost of the energy system for all users, not just EV drivers.
Its plan to cut electricity costs centres around a three-prong approach of increased use of electric vehicles, smart charging and vehicle-to-grid technology, reducing the need for extra power plants and therefore helping keep bills lower over time for consumers.
But Ofgem will also continue its work to ensure the grid is ready for EV uptake. In May 2021, it approved a £300m investment, half of which will be used to develop EV infrastructure, including rapid charge points. It says billions more in network investment are expected to follow.
It’s also going to make connections to the energy network easier, bringing down costs for large users, such as electric vehicle charging stations, of connecting to the grid where reinforcement is required – this will in turn enable increased EV driver access to charge points.
To further help drivers switch to EVs, Ofgem will work with energy suppliers and innovators to make sure there are a range of products, services and tariffs, and that consumer protections are updated to keep up with technological and business model change.
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 three-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.”