New Government Plan Could Save EV Drivers Between £200 – £1000 per Year

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Smart Charging Regulation

Yesterday, the UK government has announced a new initiative that will utilise Smart Charging Technology to charge EV’s during the night – when energy rates are at their lowest.

The ‘Electric Vehicle Smart Charging Action Plan’ will receive £16m in funding which will be used in projects such as including a street lamppost capable of charging electric vehicles and selling power back to the grid. This follows on from the updated regulations of July 2022, mandating all home EV chargers have smart charging capabilities.

Smart charging allows motorists to charge electric vehicles when electricity is cheaper or cleaner, allowing consumers to power their home using electricity stored in their electric vehicle, or even sell it back to the grid for profit. For those with above-average yearly mileage, it is estimated the changes could save them up to £1000 annually.

Ofgem Director for Strategy and Decarbonisation Neil Kenward said: “This latest innovative plan will help to maximise the benefits of smart charging, offer vital savings to consumers and reduce the overall cost of energy by seizing the opportunities to use batteries to both power homes and fuel the wider grid.”

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