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NatWest Group and Octopus Energy Join Forces

NatWest Group, RBS to our Scottish readers, have teamed up with Octopus Energy to assist their customers in the transition to a greener future. This is part of the bank’s commitment to playing an active role in tackling climate change as part of its strategic plan. 

The service will be available to NatWest Group’s retail, business and wealth customers and will include the ability to purchase Electric Vehicle (EV) charge points at discounted rates.

This is the first partnership between a major UK bank and a renewable energy supplier and may be a sign of the future. This is one example of a growing trend for financial institutions to follow a purpose-led strategy and to combine multiple services alongside traditional banking. 

The aim is to combine all services required to make the transition to electric. Benefits include discounted EV charging hardware and installation, access to innovative and green electricity tariffs and smart meters from Octopus Energy and potential grid upgrade and access to fleet management software if required. Essentially, NatWest bring the captive audience of customers and Octopus provide the service. 

Octopus Energy will provide the delivery and installation of the service, using dedicated engineers to install EV charge points, smart metering and new grid connections where current capacity is insufficient. Many of these services will be outsourced to regional companies. 

Octopus is also providing its ‘Agile Octopus tariff’, the world’s first half-hourly tariff, allowing customers to charge during off-peak hours and make considerable savings on their energy bills.

James Close, Head of Climate Change of NatWest Group, commented: “By working with Octopus Energy, we are offering a bundled solution to help people and businesses go green. We are determined to play an active role in the UK’s transition to a low carbon economy and this access to EV charging technology will make it easier and more affordable for our customers to make a positive difference to our environment.”

Greg Jackson, CEO and founder of Octopus Energy, commented: “Transport accounts for a third of the UK’s carbon emissions, making it the country’s largest emitting sector and in desperate need of transformation if we are to reach Net Zero.”

“We are so excited that NatWest has committed to promoting sustainable practices and will be joining us on this mission to green our roads. If more people and businesses realised the savings they could get and switched to an EV, the benefits it would have on our planet would be massive.”

If you are interested in knowing more about the transition to electric, please get in touch. A member of our technical team would be happy to answer any questions that you have.

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