EV home tariffs
Dedicated EV tariffs were out of the picture thanks to the energy and cost of living crisis, with most providers pulling their fixed-rate deals. But now they're back in business – and several providers are offering competitive rates for electric car owners again.
Charging your car at home is almost always the most affordable way to get from flat to full.
Even though it'll mean your annual electricity bill increases, it still works out cheaper than continuing with petrol and diesel fuels.
A dedicated EV tariff, aimed at electric car owners, can make these costs even more affordable by offering discounted rates – typically overnight.
Overnight charging not only saves your hard-earned cash, but also helps to balance the grid by reducing the daytime demand, and potentially reducing the need for investment in additional power generation capacity.
Many EV tariffs also offer 100% renewable energy, or energy companies will pledge to offset car emissions through tree planting, making the switch kinder on your wallet and the environment.
The five types of EV tariffs:
1. Single-rate tariff: You pay a single rate through the day and night, but it's discounted if you own an electric car
2. Static time-of-use tariff: Offering cheaper electricity overnight, this is the most common tariff you'll see, and generally has the best charging rates
3. Dynamic time-of-use tariff: Offers a different price per unit of energy depending on the time of the day, with electricity becoming cheaper when there's a dip in demand
4. Type-of-use tariffs: These separate your EV charging costs from the rest of your energy use, using a smart meter and smart charger. Electricity used to charge your car is charged at a reduced rate
5. Vehicle to Grid (V2G) tariffs: Currently being trialled by Octopus Energy and Ovo Energy, this technology allows EVs to store energy and sell it back to the grid when it's most needed
Current EV tariffs available:
Octopus Energy leads the market with several options*:
- Octopus Go: 7.5p/kWh between 12:30-05:30am (static time-of-use)
- Octopus Intelligent Go: 7.5p/kWh for six hours overnight with smart charging (type-of-use)
- Octopus Agile: Dynamic pricing that changes every 30 minutes (dynamic time-of-use)
Other providers:
- EDF GoElectric: Offers cheaper overnight rates for EV owners
- Ovo Energy: Has EV-specific tariffs with off-peak discounts
- British Gas: EV tariffs available with their home charger packages
Before switching, compare the overall annual cost, including both day and night rates, as cheaper night rates often come with higher day rates.
*Accurate at time of editing