NatWest is partnering with Octopus Energy to offer banking customers a discounted EV charging bundle, to incentivise them to make the leap to electric.
The new package, unveiled yesterday, offers NatWest customers “the entire stack of infrastructure, technology and software needed to switch to EV,” including charge points and installation, home solar panels and battery storage—all at a discount.
Customers can also sign up for Octopus Energy’s flexible home energy tariffs, with cheaper overnight charging for their vehicles. When they’re out and about, they can recharge at public charge points from a number of different companies through Electric Juice Network, Octopus’s roaming charge-point service.
The firms said the deal marks the first time a bank and energy supplier have teamed up to offer electric vehicle charging solutions.
The bundles are available to all NatWest retail, business and wealth customers, in a bid to encourage them to ditch fossil fuel vehicles.
Octopus founder and chief executive Greg Jackson said the bundle would help consumers and businesses discover the “bonkers savings” of switching to an EV and the “massive” benefits for the planet.
He said transport, the UK’s most polluting sector, accounting for a third of all emissions, is “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,” he added.
James Close, head of climate change at NatWest Group, said: “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 accelerating the take up of electric vehicles is a crucial part of the transition.
“This access to EV charging technology will make it easier and more affordable for our customers to make a positive difference to our environment.”
The UK has committed to banning the sale of vehicles with internal combustion engines (ICEs) by 2030.
NatWest claims its operations became net-zero last year, with emissions offset by the purchase of internationally recognised carbon credits. The bank also says it will halve the climate impact of its financing activity by 2030.
In September the bank launched an eight-week pilot of an app which calculates the carbon emissions of customers’ everyday spending through their NatWest accounts.
