What are Electric Vehicle (EV) Energy Tariffs?
Electric Vehicle (EV) tariffs give the consumer a variable rate on their energy, usually being cheaper overnight during off-peak hours. The most common type of this is a two-tier tariff.
Two-Tier EV Energy Tariffs
This tariff offers two different electricity rates depending on the time of day, with much lower rates at night. This allows the consumer to charge their car or use any other electrical appliance overnight for a cheaper rate than they would be able to during the daytime.
Two-tier EV tariffs are especially handy for EV drivers who have or are thinking of having a Home EV Charger installed. As the majority of EV Charging is done overnight at home, variable EV tariffs help save EV drivers even more when compared to the cost of running a petrol or diesel vehicle.
How Do EV Chargers Interact with EV Tariffs?
All our Home EV Charger have smart functionalities, including charge scheduling. Users can schedule their charge using a smartphone app to charge their EV at off-peak times.
As an added bonus for Octopus Energy customers, if they have an Ohme Home Pro installed at their home it can sync directly their EV tariff to only charge at the very greenest times, and always on the cheapest rate.
How Much Can I Save with an EV Energy Tariff?
Using Octopus Energy’s 10p per kWH Intelligent Octopus, as an example, the cost per mile for an average EV would be around 2.5 pence. This compared to the average cost to run a petrol car 14p per mile, demonstrates a saving of £851 when based on the UK average for car milage.* A full comparison of estimated fuel costs can be seen below:**
EV on Specialist EV Tariff Charging 100% at Home – £185 per year
EV on Non-Specialist Tariff Charging 100% at Home – £512.82
Petrol Powered Car – £1,050.48
Diesel Powered Car – £1,110
*Calculated by taking the yearly average milage of a UK car (7,400) and multiplying it by the average price per mile of an average EV, Petrol and Diesel car.
**All estimates correct as of April 2023
Thinking About Home EV Charging?
If you want to learn more about Home EV Charging or wish to see the range of Home EV Chargers we sell and install, click the button below.
Alternatively, if you wish to speak to one of our expert team about any questions you may have, you can do in a number of ways. You can give us a call on 0330 094 5101, use our Live Chat function or Request a Callback at a time that suits you.