Electric car energy tariffs 2023

author: FutureCar Staff    

If you own an electric car and charge it at home, you could save hundreds of pounds every year by switching your energy tariff. Most major suppliers offer special EV tariffs with off-peak prices per unit of electricity, which are significantly cheaper than busy times. The recent rise in energy prices has made these off-peak savings even more dramatic, but as the cost of electricity begins to fall, new deals are starting to appear. To determine which electricity supplier takes the lead, we conducted a tariff test and plugged all the figures into our spreadsheet.

For this test, we estimated the average power consumption for a three-bed house at 3,500kWh per year. Additionally, we considered the charging of a medium-sized electric car that covers 8,000 miles annually, with an efficiency rate of four miles per kWh, which adds an extra 2,000kWh to the bill. Owners who drive this mileage can easily take advantage of cheaper night-time tariffs, usually limited to a few hours. All non-charging domestic power usage was assumed to be at the peak rate.

OVO Charge Anytime: This tariff doesn't have set off-peak hours but allows users to specify the desired charging time. The app then tops up the battery whenever it detects the cheapest power. Although it has high standing charges and off-peak prices, it can be the cheapest option overall if you have compatible products.

British Gas Electric Driver Sep24: This package lowers the cost of all energy supplied to your house for five hours between midnight and 5am. This is enough time to charge an EV battery with around 40kW, which is sufficient for 150-plus miles. It also enables scheduling power-hungry appliances to run off-peak.

Octopus Energy Intelligent: Similar to OVO's package, this tariff uses special technology to determine the lowest energy cost and tops up the battery during those periods. It offers a cheaper rate for other appliances used during off-peak hours. However, it is currently only available to customers with specific chargers or certain EV brands.

Octopus Energy Go: This tariff is less complicated than the Intelligent offering but comes at a higher cost. It offers an off-peak price of 9p per kWh for four hours between 00:30am-04:30am, and 31p at other times. The standing charge is reasonable, and there are no exit fees. Customers also have the option to use Octopus Energy's Electroverse card for public chargers, which provides a discount.

E.On Next Drive Fixed: This package stands out with its seven-hour charge period, allowing for an additional 84 miles of charge every night at the cheaper rate. This is beneficial for those who frequently need to make long journeys on consecutive days. However, the peak daytime rates and standing charges are more expensive compared to other tariffs.

EDF GoElectric: This tariff offers five off-peak hours with a power rate of 8p per kWh. The standing charge is higher, and the peak rate is 36p per kWh. It received a lower rating due to these factors.

FutureCar Staff