Smart EV Energy Tariffs
What Are Electric Vehicle (EV) Energy Tariffs?
Smart EV energy tariffs are specialised electricity plans for electric vehicle owners using their home electricity to charge their cars. These tariffs offer reduced rates during off-peak hours, making them cheaper in the long run.
Typically, there are two types of EV tariffs available in the UK:
Two-Rate Tariffs: These tariffs offer lower electricity prices during specific hours while maintaining a standard daily rate. Drivers who charge their vehicles overnight can benefit from these lower rates.
Add-On Tariffs: Many suppliers offer an electric vehicle energy tariff alongside regular home energy plans for cost-effectiveness. This option allows households to benefit from EV savings without changing their entire energy tariff.
Leading Smart EV Tariffs Available in the UK
Many UK electricity suppliers have comprehensive electric vehicle tariffs, offering lower-priced electricity for EV drivers.
Here are some of the leading Smart EV Tariff providers.
Octopus Energy: Intelligent Octopus Go
With support for over 280 models and chargers, this tariff is one of the UK’s most popular EV tariffs. The intelligent Octopus Go provides six hours of low-cost electricity every night, with off-peak rates as low as 7p per kWh. This makes it cheaper than the standard variable tariff. An EV owner driving 700 miles/year could save £415 by switching to Intelligent Octopus Go. Octopus will honour the smart energy tariffs low rates during the day when they are put in charge of the charging session via the app.
Octopus Energy: Octopus Go
A great option for those without an Intelligent Octopus Go compatible car or charger, this tariff allows you to access cheaper electricity for five hours (between 12:30 am and 5:30 am daily). Both Octopus tariffs include reduced electricity rates that apply to both cars and households. Eco-conscious users can take advantage of lower rates during off-peak periods.
OVO Energy: Charge Anytime
OVO offers a competitive EV electricity tariff of 7p per kWh at any time. Added benefits include a “charge now” function that lets you override your charging schedule if you’re in a rush. Their plan is one of the best EV tariffs for those on the go, offering complete control of your smart charging schedule from the app, plus insights into your charging habits.
Scottish Power: EV Saver
Scottish Power’s basic tariff offers off-peak rates of 7.2p per kWh during a five-hour window from midnight to 5 am, helping you save on overnight EV charging costs. You should also target your consumption from appliances during these hours to reap the maximum benefits. Otherwise, consider charging at home with a different tariff that is more suited to your needs.
PWS supplies and installs OVO, Scottish Power and Octopus-compatible EV chargers.
Get in touch with us to discuss the right EV chargers for your needs.
Benefits of Smart Tariffs for Home Charging
Here’s how adopting EV tariffs is advantageous for EV owners.
1. Cost Savings
A few energy providers offer more cost-effective energy tariffs for electric cars. They’re typically for charging overnight to help drivers avoid peak prices and cut costs. You can schedule your EV charging during these off-peak hours when there is less load on the national grid. You’ll greatly benefit from cheaper off-peak rates — significantly reducing your electricity bill.
Peak times refer to periods when the demand is highest. Avoiding these periods helps you charge your car at a fraction of the cost.
2. Environmentally Conscious Charging
Carbon intensity is a measure of how clean electricity is, and it is lower during off-peak hours. Therefore, charging your electric vehicle overnight can help reduce your carbon footprint.
Vehicles with Vehicle-To-Grid technologies support the integration of clean energy back into the grid. It does this by transferring energy from the battery of an electric vehicle back to the grid, contributing to overall emissions reduction.
3. Convenience
Many electric car charging tariffs are compatible with smart charging solutions that allow you to automate the charging process. These smart systems allow you to schedule your charging sessions based on your chosen tariff and the grid demand. This will ensure you get the most out of off-peak tariffs.
Opting to conduct all your EV charging at home using smart tariffs not only helps save money but also saves you time. You will no longer have to worry about driving to find public charging points with open slots.
Steps To Switch to an EV Tariff
If you’re new to tariffs, here are some steps to help you choose the right energy supplier.
1. Check Your Charger’s Compatibility
Before you can compare EV-specific tariffs, ensure your vehicle or home charging point is compatible with your preferred electric car tariff. Suppliers require a smart meter to work with these tariffs as they submit meter readings every half hour.
Don’t own an electric car charger yet? PWS can assist you in installing one that’s compatible with your preferred tariff provider. For example, if you choose a provider like Octopus, PWS can help you select and install the correct EV charger and smart meter.
2. Research & Compare to Select a Tariff
Research and compare EV tariffs from different energy suppliers. Many electric vehicle charging tariffs will come with specific rates and benefits. So, it’s wise to consider your driving habits and energy consumption to make an informed decision.
However, the energy price cap may not cover all providers of EV tariffs. If their EV-specific tariffs are not covered, it could increase wholesale energy costs or their off-peak rates are not regulated.
3. Contact the Provider
Once you’ve settled on a suitable electric car tariff, reach out to the energy supplier to make the switch. They will guide you through the process, including smart meter installation if you don’t already have one.
4. Upgrade Equipment
If needed, install a smart charging point to make the most out of your chosen tariff. Some providers even offer incentives or discounts for installing these devices.
If all the prerequisites are met, you’ll have an easy, smooth transition to reap the benefits of EV tariffs.
FAQs About Electric Car Charging Tariffs
From the uninitiated to the experts wanting more information, here are the answers to some questions on EV tariffs.
Yes. If you cannot afford the cost of adding an EV charger at home, you can still use an EV tariff. However, you might lose out on some great benefits. EV tariffs are designed to offer cheaper electricity rates when charging your electric car at home during off-peak hours.
Without a home charger, you’ll have to rely on public charging stations. The availability of public charging spots may vary and might not be as cost-effective as your tariff during discounted periods. Public chargers also incur higher VAT (20%) charges compared to home chargers (5%), leading to extra costs.
Choosing an energy supplier is ultimately up to personal driving routines and when and how often you charge your EV. If you charge your EV at home, consider OVO or Octopus EV tariffs for their lower unit rates during off-peak hours. Comparing tariffs to the national average can also help you make the decision.
For those prioritising sustainability, choose a supplier such as Octopus that supports EV charging in tandem with a fully renewable home setup.
Yes, EV tariffs can accommodate irregular charging routines. This means you won’t always have to rely on charging overnight. While many EV tariffs provide lower rates during off-peak hours, some suppliers provide plans with consistent charging rates regardless of the time. For example, OVO’s “Charge Anytime” tariff allows you to charge your car at a flat rate of 7p per kWh at any time of the day.
PWS Electrical: Leaders in Renewable Energy Solutions
PWS Electrical provides expert customer service and workmanship with over a decade of experience. We supply and install Octopus and OVO-compatible EV chargers so drivers can take advantage of these electric car energy tariffs.
If you’re looking to install a new charging point, PWS ensures your transition to environmentally friendly EV charging is a smooth process.
Alongside our range of EV tariff-compatible electric car chargers, we also offer solar panel installation and battery storage and can help you secure EV charger grants and installations.
Invest in long-term savings with smart EV energy tariffs. Get in touch to find out which EV chargers are compatible with your preferred tariff.
