Octopus Energy and Rivian: driving Texas towards a cleaner, cheaper future

Exclusive 100% renewable energy plan offered to Rivian customers in Texas 

Houston, TX – June 13th, 2024 – Houston-based renewable energy retailer Octopus Energy announces its exclusive home energy program with American electric vehicle maker Rivian. (NASDAQ: RIVN).

All Rivian customers throughout Texas, where Octopus Energy is an eligible energy provider, will be offered an exclusive energy plan powered by 100% renewable energy to customers’ homes and vehicles.

Available only to Rivian customers, Texans will unlock a time-of-use energy rate plan with an overnight off-peak rate discounted by up to 50%, to facilitate clean, affordable electric vehicle charging.

This marks Rivian’s first collaboration with a retail energy provider and the program with Octopus Energy could help Rivian owners drastically reduce their home energy costs, while helping to create a reliable and carbon-free energy grid.

Typically, electricity is more expensive during periods of high demand, such as weekday evenings when people are cooking dinner and using energy-intensive appliances, and cheaper during periods of low demand, such as late at night or early in the morning.

The new Rivian plan will encourage Texans to charge overnight (10:00 PM – 6:00 AM) to help ease tensions on the grid. Participating Rivian customers will receive an additional benefit of $150 in Octopus Energy bill credit after 90 days.

Michael Lee, CEO of Octopus Energy, comments: “Demand flexibility is the key to a cleaner, more affordable, and sustainable energy future. What that means is being flexible with when and how you’re using energy, shifting energy-intensive tasks, like charging your electric vehicle, to off-peak hours. We’re proud to partner with Rivian to bring our innovative technology to more Texans at a discount and power a more sustainable grid.”

Andrew Peterman, Director of Advanced Energy Solutions at Rivian, comments: “Rivian is proud to team up with Octopus Energy to continue supporting innovative solutions that help connect customers to cleaner, more reliable, and affordable energy.

”Transitioning the energy system to cleaner sources of power is essential to our mission, and we are excited to join Octopus in creating opportunities for Rivian owners to accelerate this change with renewable energy plans that also help lower the cost of electric vehicle ownership.”

This new program builds on Octopus Energy’s range of innovative options for customers throughout Texas. Octopus Energy customers can also take advantage of its ‘Intelligent Octopus’ platform which automates customers’ energy usage and rewards them with savings for using energy when demand on the grid is low. Customers receive the cheapest energy rates when a compatible smart device connects to the platform (smart thermostat, electric vehicle charger).

To learn more about Octopus Energy plans and discounts, visit online here.

Tap to sign up for the Octopus X Rivian plan.

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