The CHEAPEST way to charge your electric vehicle - Explaining EV Tariffs
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- čas přidán 27. 06. 2024
- Struggling to make a decision on the best EV Tariff for you?
Not sure what's out there, or if you can access it?
Just interested in how to save money charging at home?
Well we've got just the video for you 🤓
We love putting together educational content with no agenda, other than to educate inform and hopefully entertain 🤔
More and more of our customers are switching over to EV Tariffs, and it's now an every day occurrence for customers to ask us for more info on how they can save money 💰
EV tariffs are one of the best ways for new and existing EV drivers to save money and time by charging from home 🚘🔌🏠
As new tariffs, chargers and vehicles make their way into the market, we wanted to put together a quick overview of what's out there today, how you can access them, and how it all fits together 🤓
This isn't a deep dive into the intricacies of EV Tariffs or time of use energy supply, but a quick start guide to get you going! There are some incredible tools out there to support drivers looking to make the switch, and I'll share some links below 🌐
Affordability, accessibility and choice are 3 values we hold close to our heart and it's great to see energy companies doing so much to support EV drivers. And as we make our way towards 2035 ⚡⚡⚡
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NEW EV Tariff Links Since Video Launched:
🟩 Ecotricity: www.ecotricity.co.uk/your-green-energy/our-ev-tariff
🍂 Scottish Power: www.scottishpower.co.uk/electric-vehicle/tou-tariff
Tariff Links:
🐙 Intelligent Octopus: octopus.energy/smart/intelligent-octopus-go/
💚 OVO Charge Anytime: www.ovoenergy.com/electric-cars/charge-anytime
🔥 British Gas EV: www.britishgas.co.uk/energy/ev-tariff-home.html
❤ Eon Next Drive: www.eonnext.com/tariffs/next-drive
Useful Tools Links:
✅ Rightcharge: rightcharge.co.uk/
⚡ Zap Map: www.zap-map.com/live/
Chargers with native Integrations:
⚡ Ohme - Intelligent Octopus + OVO - ohme-ev.com/
⚡ Indra - OVO - www.indra.co.uk/
But remember you can always check compatibility for dynamic tariffs at the relevant links above and for all static tariffs you can have any smart charger you choose.
Useful video, people however need to understand that cheap overnight rates tend to be offset with a higher day rate and sometimes standing charge, please do check everything before committing to a contract, sometimes the savings aren't as great as they sound (but can be greater if you change how you use electricity)
That’s a fantastic point @ian-xq4rt and we absolutely recommend doing full and extensive research into ev tariffs and alternatives, as well as looking at whether a home charger is the best solution for your EV charging needs.
There is some great guidance for customers to be found here:
www.moneysavingexpert.com/utilities/ev-energy-tariffs/
And companies like Rightcharge offer more extensive tariff comparison tools:
rightcharge.co.uk/tariff/comparison/
The landscape of home energy usage is consistently changing, and with energy prices changing all the time it’s very much a case of more choice, flexibility and intuitive/fair comparison tools being made available to consumers
Great video, clear & precise in this minefield market.
Thank you so much for your kind words @proevo1502 it’s really appreciated 😃
I am on the Scottish Power EV tariff. The cheap overnight Tariff is 7.45p per kWh (As of 16th March 2024) However, the standing charge and daytime tariff are higher than the standard tariff. I have a PHEV, and it works out that I am in profit if I fully charge twice a week (Around 20kWh total) compared to the tariff that I was on. With a full EV, it would be much better than this. The lower rate applies between midnight and 5AM. It applies to all electricity used in the house, so using things like washing machines at this time makes sense. A smart meter is required, but it will work with any EV charger or car. I would never use the current public charging network, as it would be significantly more expensive per mile than fueling up my old diesel car. Home charging on a cheap rate tariff is the only way forward.
home ev charging is expensive too because they increase your peak rate costing you extra £200 plus a year in addition to your ev charging bills
Hi @carlishiggins whilst you’re absolutely right that the peak rate costs and standing charges do increase for EV tariff products, this is really about effectively limiting cost wherever possible. Recent studies found that the average cost to charge in public is 70p/kWh which represents no tangible savings for an EV driver vs an ICE. Whereas with off peak charging at home you have the ability to decrease the cost of charging the vehicle significantly. The average UK home according to OFGEM consumes ~2700kWh of electricity every year, an average EV driving 10,000 miles a year will require ~3,333kWh of charging, or 9kWh a day, exceeding the homes demand significantly. I guess the only way to frame it is the offset in savings vs a petrol or diesel vehicle, if you were charging 10,000 miles on an EV tariff at 8p/kWh then the annual cost would be £266 + the additional cost of the higher day rates. The average cost of an ICE vehicle travelling the same distance in 2024 according to Nimblefins would be £1867 for petrol (36mpg) and £1651 for diesel (43mpg). So whilst you’re absolutely right that there’s an increased cost in absolute terms on your peak home energy bill, which varies depending on the tariff, the relative costs weigh up in favour of charging on an EV tariff, and again this isn’t about convincing anyone to drive an EV or to charge at home, simply to offer some guidance for EV drivers looking to save a bit of money if they can. We are advocates of choice and people should be able to drive whatever vehicle they want, without pressure to switch if it doesn’t work for them. We hope this is useful and thank you again for your comment and insight ⚡️
Having a smart meter fitted this week and changing to EV tariff with Scottish power.We only have a dumb charger but our id,3 can be set to schedule charging. Cant wait.Cheap as chips.
That’s a great way to manage it @garywright4233 it’s great to see more and more EV tariffs coming to the market and choice and flexibility to use with different chargers and vehicles should always be front and centre in any good offering. Go well and enjoy the cheap miles ⚡️
We are a week in and EV tariff not working despite having clarification that it has been started. I’m ringing Scottish Power today.🤞
Great video just a general question I am on Octopus Intelligent Go my wife’s car is a Tesla which works fine with Octopus and my car is a Volvo which for my car have to set to charge from 23:30 to 05:30 and seems to work until they include Volvo on there List of Cars ,as we charge both cars and mileage is probably about 20,000 a year think this is at present the best tariff to be on ? What do you think or recommend if something else would be better
Hi @Thecardetailingnut, It's a great question and following Octopus' advice to date yes the way you're charging is the best way to manage 2 vehicles if you don't have a compatible charger. Now your second question is a really interesting one, and it might require a little bit more information than you'd be willing to share here (such as whether you're on dual fuel gas & electric) what your homes consumption is, whether that's 20,000 miles each vehicle or combined etc). But the key thing to consider here will be whether you regularly aren't able to charge both vehicles within the set Octopus window, thereby making more time to charge the key decision maker or if it's purely cost. Tariffs such as the new Scottish Power EV Tariff which gives you midnight to 5AM at 7.450p/kWh (www.scottishpower.co.uk/electric-vehicle/tou-tariff) or Ecotricity offering 8p/kWh for the same window, but you'd need to run a comparison on the standing charges and per unit rates for gas if you use it. So really the only tariff offering you a longer charging window at the moment will be EoN Next Drive: www.eonnext.com/tariffs/next-drive (8p per kWh when you charge between 12 and 7am), and as it's a static tariff you can simply set the charger up to schedule and interoperability will be easier between charges. But again it's definitely worth checking how this tallies with your whole home energy usage to see whether you save over the running costs of your whole home.
Thanks for the info.. very useful. However dont all these EV tariffs charge more per kWh for standard day rate? It does not seem very transparent.. I just check EON and British Gas.and they dont seem to clearly point out the day cost of powering the house.
Hi @neilbrandon, thank you for your kind words and the excellent question. Yes in general you will have a higher per unit cost for peak times, but this can all be compared to standard tariff rates based around your average consumption (if known) by using the following links:
EON Next Drive Quote: www.eonnext.com/dashboard/journey/get-a-quote?referrer=next-drive
BG EV Quote: www.britishgas.co.uk/GetAQuote/new/quote-details?oid=BGEV
As your EV will usually match your home consumption, and many of these tariffs roll your home usage under the cheaper rate, it often ends up being much cheaper despite the higher day rate.
If you have any more questions please don't hesitate to ask and we'll be more than happy to help.
Is the VCHRGD charger capable of communicating with the intelligent octopus and if so are you looking to integrate with it at any point in the future? I have one of your chargers on order but my car is not compatible. Currently on the Octopus Go 9p per kw. Would love for this to happen.
Hi @stephenrees2391, unfortunately the VCHRGD Seven isn’t directly Integrated with Intelligent Octopus, either through our app or any of our partners (ie Powerverse, Monta etc) we’ve been in discussion with Octopus for a while now, but they are prioritising integrations with other manufacturers, and we’re dependent on them to enable the API for our chargers. Whilst we’ll continue to work to deliver this for our customers, we can’t make any commitments on timescales for this.
We’re very much advocates for choice and believe that there’s no best charger, just the best charger for you! If the Intelligent Octopus integration and tariff access is critical for you; then I would recommend one of our competitors. Generally speaking Ohme have been integrated the longest, with Zappi and Wallbox integrating more recently. If you have solar then Zappi is a great option, otherwise Ohme are a good company too.
One thing that’s important to note, is that smart tariff integrations aren’t in the hardware but the back-end that runs the app via the cloud. So if, in the future, one of these partners did strike up a partnership with Octopus then the charger would become compatible.
We’re sorry it’s not a more definitive answer, but we don’t want to set expectations or commitments when we haven’t been given a timeline yet.
@@vchrgd Thanks for the reply, I’ve already ordered yours, the zappi was a lot more expensive and I prefer the design of yours. I’ll stick with the Octopus Go for now. With solar Eon drive one also has a 16.5p seg export rate too so all is not lost 👍
@@stephenrees2391 that’s very kind of you to say RE: the design and we’re glad that you’re choosing to stay with us. We will continue to work hard for yourself and all of our customers to deliver access to as many tariffs as possible.