EV Chargers and Energy Tariffs
Not only will you save money on the running costs of an electric car rather than standard fuel-based vehicles, but a few smart choices with your energy tariff provider will lead to even greater economy.
It’s not rocket science – electricity is much cheaper to buy than petrol or diesel. Electric vehicles will run at an average cost of 5-7p per mile compared to an average of 10-20p per mile from a standard fuel vehicle.
Why Swap your electricity provider?
With such a wide range of suppliers, now is the time to take advantage of the competitive energy tariff market. You can even take advantage of cheaper overnight charging tariffs, akin to the old Economy 7. Look out for specific EV tariffs popping up now too – with even more savings to be made.
EV Specific Tariffs
Below we have outlined a few of the EV specific providers. Think about your lifestyle and find a provider who works best with your timeframes and opportunities to plug in. Sometimes, it can be worth making tweaks to your schedules to take advantage of good tariff deals, such as one that kicks in after 11pm when supply and demand works more in your favour.
Which are the best EV tariffs?
Take a look at some of the best value options out there – but do your own research to find the tariff that works for you.
Entirely from 100% renewable resources, two tariffs beneficial to EV charging are:
i) OctopusGO – From just after midnight to 4:30am every night electricity will only cost 5p/perKW. This is up to 50% cheaper than economy 7.
ii) AgileOctopus – What you pay is linked to half hourly energy rate wholesale prices – when the wholesale prices drop, so does your bill. Utilising a new feature, ‘plunge pricing’ this tariff takes advantage of negative price events. In 2019, the wholsesale electricity price dropped below 2p 31 times – this tariff allows you to take full advantage.
This EV specific tariff is 100% renewable too.
i) Take advantage of 7 hours reduced price energy over night, every night from midnight to 7am.
These energy giants now have an EV specific offering.
i) The GoElectric tariff of 8p/kw isn’t the lowest rate but is available for 98 hours per week, running from 9pm – 7am weekdays and weekends.
4) OVO Energy
This EV specific tariff comes from one of the newest suppliers on the market.
i) EV Everywhere offers 7 hours off peak, midnight – 7am on a 2 year fixed deal.