Octopus Energy and Rivian Announce Exclusive Renewable Energy Plan for Electric Car Owners in Texas

Octopus Energy, a Houston-based renewable energy retailer, has announced a new exclusive home energy program in partnership with US electric vehicle (EV) manufacturer Rivian. The program, available to all Rivian customers in Texas, where Octopus Energy operates, offers a 100% renewable plan for both homes and vehicles.

The plan, exclusive to Rivian customers, includes a pay-as-you-use energy rate with up to 50% off the off-peak night rate. This initiative aims to provide clean and affordable charging of electric vehicles and reduce home energy costs. This collaboration marks Rivian’s first partnership with a retail energy provider, which can help Rivian owners significantly reduce their energy expenses while promoting a reliable, zero-emission energy grid.

Electricity prices typically vary based on demand and are higher during peak periods, such as weekday evenings, and lower during off-peak periods, such as late evening or early morning. Rivian’s new plan encourages Texans to charge their vehicles at night (10 p.m.-6 a.m.) to reduce strain on the network. Rivian customers participating in this plan will also receive a $150 credit on their Octopus Energy account after 90 days.

Michael Lee, CEO of Octopus Energy, stated: “Demand flexibility is the key to a cleaner, cheaper and sustainable energy future. This means flexibility in when and how energy is used, for example shifting energy-intensive tasks such as charging an electric vehicle to off-peak hours. We are proud to partner with Rivian to make our innovative technology available to more Texans at a discount and power a more sustainable grid.”

added Andrew Peterman, director of advanced energy solutions at Rivian“Rivian is proud to partner with Octopus Energy to support innovative solutions that provide customers with cleaner, more reliable and affordable energy. The transition to cleaner energy sources is central to our mission, and we are pleased to join Octopus in creating opportunities for Rivian owners to accelerate this transition with renewable energy plans that also help lower the cost of electric vehicle ownership.”

This new program builds on Octopus Energy’s pipeline of innovative offerings for Texas customers. Octopus Energy customers can also benefit from the “Smart Octopus” platform, which automates energy consumption and rewards customers with savings for using energy during periods of low demand. The platform provides the cheapest energy rates when you connect a compatible smart device, such as a smart thermostat or EV charger.

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