• Moving to electric, smart-charging and selling energy back to the grid could save family car owners an average of 20% on total cost of vehicle ownership.
• Flexibility will help drive €4bn in annual savings for European grid operators.
• By 2030, EVs could contribute 4% of Europe’s annual power supply — enough to power 30 million homes per year.

LONDON, March 6, 2025 /PRNewswire/ — EY predicts that by 2030, there will be more than 50 million electric vehicles (EVs) on Europe’s roads, representing 15% of the total vehicle stock. As electrification accelerates, ensuring the cost-effectiveness, stability, and efficiency of the power grid will require managing how and when EVs are charged and using the electricity stored in the battery to provide valuable flexibility services to the power grid. A new report from EY and Eurelectric — Plugging into potential: unleashing the untapped flexibility of EVs — explores how unidirectional smart-charging, which allows EVs to draw power from the grid at optimal times, and vehicle-to-grid (V2G) technology, allowing EVs to both draw power and send electricity back to the grid, can reduce total cost of ownership (TCO) for consumers, provide grid balancing solutions, and accelerate renewable energy adoption.

Serge Colle, EY Global Power & Utilities Leader, says:

“By 2030, flexibility resources across Europe will need to more than double to keep pace with an increasingly intermittent power system. EVs — already abundant and rapidly growing in number — are a readily-available, scalable, and cost-effective asset to provide that flexibility. By shifting EV charging to optimal times and enabling V2G, we can reduce energy costs for consumers substantially, alleviate grid stress, and support the integration of renewables into the energy system.”

EV flexibility unlocks significant cost savings for consumers

Harnessing EV flexibility can significantly reduce vehicle TCO for consumers when compared with an internal combustion engine vehicle. EY calculates that simply by switching to an equivalent electric vehicle, annual savings of 4% in the compact segment, 9% in the family car segment and 14% for large/sports utility vehicles (SUVs) could be realized on average across six key markets in Europe.

However, while savings vary market to market, the study finds that when optimally charged and rewarded for selling energy back to the grid, vehicle TCO reduces significantly:

• A compact EV owner in the UK could save up to 19% (€1,230 annually). In Germany, Sweden and Spain, the TCO could be reduced by as much as 14%. In France and the Netherlands, savings of 7% and 9% respectively, may be realized.
• The family segment could reward drivers with 15% (€1,200) annual savings in France, rising to 23% (€1,800 annually) in Germany.
• In the SUV segment, drivers in the UK could realize savings of up to 26% annually, while their German counterparts could enjoy savings of 29% (€3,000).

Flexibility will help drive €4bn in annual savings

Smart-charging and V2G are not just beneficial to EV owners — they are essential for managing grid congestion and reducing network investment costs. The report finds that:

• By investing ahead to meet future demand, optimizing the grid and making use of flexibility from available assets, European grid operators could benefit from a projected €4bn saving every year.
• By 2030, EVs could contribute up to 4% of Europe’s annual power supply, equating to 114TWh — enough to power 30 million homes.
• By 2040, if all EVs are capable of bidirectional charging, over 10% of Europe’s power needs could be stored and reinjected when needed.

Renewable integration and peak demand balancing

With Europe’s power mix shifting rapidly toward renewables, the ability to store and discharge energy when needed is becoming critical. The report highlights:

• Instances of negative electricity pricing jumped 160% year-on-year. These were registered in nearly every European electricity market, driven by growth in subsidized, price-insensitive generation capacity, such as nuclear and rooftop solar, combined with low demand. 
• Demand for flexibility will double in Europe by 2030.
• EV flexibility could help avoid renewable energy curtailment and ensure power is available when demand peaks.

This makes unidirectional and bidirectional charging not so much options but necessities. EVs have the potential to deliver among the most affordable, scalable and flexible solutions to localized energy needs, while driving down the price tag for network investment.

Kristian Ruby, Eurelectric Secretary General, says:

“Mass market adoption of EVs is happening, but to truly unlock their value, we must integrate them into the grid as flexibility assets. Smart-charging and V2G will be key enablers of this transition.”

A necessity, not an option – but driver support is critical

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With Europe’s power demand forecast to exceed 4,500 TWh by 2050, smart-charging and V2G must be embedded into energy system planning now, encouraging consumer participation in flexibility.

Serge adds: “For consumers to play an active role in flexibility, the entire e-mobility ecosystem must help them consider EVs as something more than simply a means of getting from A to B. Easy-to-use smart-charging propositions, with clear cost benefits are critical to consumer engagement and adoption. But time is running out because flexibility resources must double within the next five years to match the speed and scale of electrification.”

Explore the six prerequisites to unlock value from EVs as flexibility assets and support accelerated commercialization here.

Aparna Sankaran
EY Global Media Relations
+44 (0)207 480 245082
aparna.sankaran@uk.ey.com

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Supporting Great Britain’s transition to a decarbonised, cost-effective, and secure electricity system

LONDON, March 6, 2025 /PRNewswire/ — Guidehouse, a global consultancy providing advisory, technology, and managed services to the commercial and public sectors, has been selected by the Department of Energy Security and Net Zero (DESNZ) of the United Kingdom to assist with its Review of Electricity Market Arrangements (REMA). Guidehouse will play a critical role in designing the future of Great Britain’s electricity market, driving the transition to a decarbonised, cost-effective, and secure electricity system.

Leveraging its extensive expertise in energy markets, policy analysis, and regulatory reform, Guidehouse will support DESNZ in this comprehensive review. The firm will provide critical insights on REMA programme topics such as wholesale market reform, locational pricing, capacity market and auction designs, contracts for difference, and low-carbon flexibility. These crucial decisions will shape the United Kingdom’s ability to achieve its decarbonisation goals and impact consumers’ energy bills for decades to come.

“We are delighted to collaborate with DESNZ on REMA and support the UK in achieving its net zero ambitions,” said Matthew Dwyer, Partner at Guidehouse. “Building on our long history of working with European governments on energy policy design and implementation, we are proud to contribute to REMA’s objectives and deliver value for consumers and taxpayers.”

Announced in April 2022 as part of the British Energy Security Strategy, REMA is a cornerstone of the UK Government’s strategy to reduce electricity market inefficiencies and achieve net zero by 2030. This flagship government programme seeks to strike the perfect balance between reducing consumer costs, ensuring energy security, and making renewable investments attractive.

About Guidehouse

Guidehouse is a global consultancy providing advisory, technology, and managed services to the commercial and public sectors. Guidehouse is purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries. Disrupting legacy consulting delivery models with its agility, capabilities, and scale, the firm delivers technology-enabled and focused solutions that position clients for innovation, resilience, and growth. With high-quality standards and a relentless pursuit of client success, Guidehouse’s more than 18,000 employees collaborate with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future. guidehouse.com

Media Contact:

Guidehouse
Cecile Fradkin cfradkin@scprgroup.com  

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SINGAPORE, March 6, 2025 /PRNewswire/ — The United Nations Global Compact (UNGC) and Principles for Responsible Investment (PRI) successfully convened the Executive Roundtable on Sustainable Finance – Driving Leadership in Sustainable Finance for a Resilient Future at the Orchard Hotel in Singapore today. This high-level gathering brought together CEOs, CFOs and institutional investors to mobilize private and institutional capital towards financing sustainable development, addressing biodiversity loss, and closing the SDG financing gap in the Asia-Pacific region.

With Asia facing an annual shortfall of $1.5 trillion to meet the Sustainable Development Goals (SDGs), discussions centered on scaling innovative financing mechanisms to drive inclusive growth, climate resilience, and sustainable development. The roundtable, aligned with the UN’s Road Map for Financing the 2030 Agenda, emphasized the urgent need for private sector leadership in mobilizing capital for the Global South and integrating sustainability-related factors into financial decision-making.

Key Themes and Insights
The discussions were structured around two key themes:

• Financing for Development: Participants explored strategies for increasing capital flows into emerging economies, tackling investment barriers, and aligning financial markets with long-term sustainability goals.
• Biodiversity & Climate Finance: Leaders deliberated on how businesses and investors can incorporate nature and biodiversity into investment frameworks, ensuring that capital supports climate resilience and ecosystem restoration.

Speaking at the event, Neha Das, Head of Asia & Oceania, UN Global Compact, underscored the role of corporate leaders in advancing sustainable finance: “Achieving the SDGs requires bold leadership and concrete action from the private sector. By embedding sustainability into business and investment strategies, companies and financial institutions can accelerate progress toward a more resilient and equitable global economy.”

David Atkin, CEO of PRI, emphasized the importance of investor action: “Institutional investors have a fiduciary responsibility to consider sustainability-related factors in their investment and ownership decisions. Alongside investor action, an enabling policy environment has a critical role in advancing sustainable finance. We are grateful to the UNGC-PRI roundtable participants for an important discussion on how leadership in these areas can create a sustainable future in Singapore and beyond.”

The roundtable concluded with a call to action for businesses and investors to:

• Strengthen commitments to sustainable finance by aligning corporate financial strategies with sustainability-related factors.
• Collaborate with policymakers to address policy barriers and enhance regulatory frameworks supporting sustainable investment.
• Advance standardized reporting on biodiversity and climate-related financial risks.

This event also set the stage for deeper engagement at future UN Global Compact events reinforcing the commitment to scaling sustainable finance solutions across the Asia-Pacific region.

Notes to Editors

About the UN Global Compact
The ambition of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, 5 Regional Hubs, 63 Country Networks covering 80 countries and 13 Country Managers establishing Networks in 18 other countries, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world.

About Principles for Responsible Investment:  
The Principles for Responsible Investment (PRI) is the world’s leading proponent of responsible investment. Supported by the United Nations, it works to understand the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. Launched in New York in 2006, the PRI has grown to more than 5,300 signatories, managing over US$121 trillion. For more information visit www.unpri.org.

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