Good Energy Group (GOOD ) said it has launched a new time of use tariff for electric vehicle (EV) drivers as part of an increased focus on Mobility as a Service and EV service products.
The 100% renewable electricity supplier, which is developing a Mobility as a Service offering to provide solutions for the electrification of transport for customers, said the launch will include installing a free second-generation smart meter, known as a 'SMETS-2 meter'.
It explained that the new 'Green Driver' tariff, which has been designed based on customer feedback, will be cheaper than previous offerings and will provide customers with options of two 'off-peak' overnight charging windows of five or seven hours, both starting at midnight.
The Group said the two tariffs are designed to give customers a choice of off-peak charging period to suit their needs and help those that have an EV to save money on their energy bills.
‘Offering a lower off-peak unit rate after midnight will help customers optimise charging their EV overnight and will encourage customers to shift their consumption, which not only provides cost savings to the customer, but also supports a greener electricity grid,’ it noted.
As part of its continued focus on digitalisation and data, the Company said the SMART meter rollout is accelerating the firm’s digital offering and is ‘a building block’ for energy services.
‘This platform has provided us with the ability to design multiple new, smart enabled tariffs, which promote further innovation and improves the speed of our product launches,’ it said.
Shares in Good Energy Group have risen by over 85% in value since the beginning of 2021. The stock was trading 0.30% higher this morning at 331p following the announcement.
It explained that customers will need to have a SMETS-2 meter installed in their electric vehicle and sign up for direct debit payments to be eligible for the new Green Driver tariff.
Good Energy said it believes solutions of this kind will become ‘a key service’ for drivers of electric vehicles to be included as part of a customer centric bundle alongside energy supply contracts, charging solutions and other EV related services.
‘As we move from this vehicle-centric to customer-centric world, energy suppliers have the unique opportunity to sit at the heart of the future mobility ecosystem and provide customers with a suite of interconnected services spanning the four main mobility value chains: Energy, EV infrastructure, asset management / services and EVs,’ the Company told shareholders.
Addressing shareholders, Nigel Pocklington, Chief Executive Officer at Good Energy said:
"The continued roll out of new products and services for EV drivers will be a key focus for our business, in helping both business and domestic customers reduce carbon through the electrification of transport. We are seeing an acceleration of EV adoption, with recent stats showing battery electric vehicles now accounting for more than 10% of all new car sales.”
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