Compare EV Tariffs.
Are you charging an electric vehicle at home? If so you’ll need to compare EV tariffs. We are in the middle of an energy crisis and so keeping running costs down may well be a priority! Buying or leasing electric care isn’t cheap. So ensuring you are not paying more than you should for your energy is important. It’s really easy to compare EV tariffs so give it a go.
Imagine if a petrol station started charging 75% less for fuel after midnight. There would be traffic queueing around the block waiting to grab a bargain. With Octopus Go that’s exactly what you get without leaving the comfort of your home! There’s no need to sit in line all you have to do is plug in and Go. If you have a home charger or your car allows you to preset charging times it’s even easier. Plus this isn’t a one-off gimmick. Octopus Go is 12p per kWh for 4 hours and Intelligent Octopus is 10p per kWh for 6 hours off-peak for both new and existing customers.
You may also consider Octopus Agile for home charging. Plus if you have solar and battery storage Octopus Flux may save you money. This is where Octopus Energy stands out from other suppliers they have a variety of Smart tariffs that have expanded recently to include battery storage and solar tariffs as well as heat pumps.
As consumers, our needs are changing as many people look towards technology that can help them lower their carbon footprint and save money. Octopus covers most of the bases with their innovative tariffs.
How much does charging an electric car at home add to your energy bill?
According to the UK Department of Transport in 2019, the distance a UK car travelled was on average 7,400 miles. An electric vehicle will do on average somewhere between 2.5 and 4.5v miles per kWh depending on the battery. If we take an average of 3.5 miles per kWh each car will use 2,114 kWh a year. (That’s it for the technical side )
If you are on the Octopus Go tariff and driving 7,400 miles a year, using the above example, your electricity cost for charging at home will add £253.68 to your energy bill over 12 months if you charge off-peak. (2,114 kWh x 0.012p)
If you charge at the price cap limit which is roughly 30p per kWh you will pay £634.20. That’s still really low compared to a year’s worth of petrol or diesel BUT it’s £380.52 more than you need to pay if you switched to Octopus Go.
Is Octopus Go the best electric vehicle energy tariff on the market? Is there a cheaper electric vehicle tariff for home charging?
In my opinion yes, Octopus Go is the best energy tariff on the market for charging an electric vehicle at home!
- The Octopus Go tariff costs approximately 3p per mile when you charge your electric vehicle at home using Octopus Go off-peak. (Depending on how you drive and the time of year)
- EDF Go Electric 35 was a close second BUT they have stopped taking on new customers for their EV tariff.
The general advice has been to stay on the standard variable tariff and not switch to a new supplier. This is general advice that doesn’t take into account varying energy needs such as charging an electric vehicle. You must consider if charging your electric vehicle off-peak at home will reduce the average price you pay per kWh if you switch to Octopus Go.
The Octopus Go tariff daytime rate is 40.04p per kWh. It is higher than the Energy Price Guarantee but by load shifting your electricity use to your off-peak rate, you can bring down the average price you pay per kWh.
I would also recommend looking at the Intelligent tariff if you own a Tesla. It’s the tariff I am currently on BUT as it is a fairly new beta tariff, it isn’t open to all-electric vehicles. That’s why Octopus Go is my chosen best option. However, if you can get on the Intelligent tariff I would go fo for it!
OVO Energy Anytime Tariff v Octopus Intelligent Tariff.
OVO Energy has launched an EV tariff called OVO Anytime. At a very quick glance, with your eyes squinted and a trick of the light you might think it is a similar tariff to the Octopus Intelligent Tariff. In fact, if you don’t open your eyes wide enough you may even think it is better.
Both Octopus OVO Anytime and Octopus Intelligent Tariff charge 10p per kWh for charging your electric vehicle.
For both tariffs you will need;
- A Smart meter.
- A specific EV charger or specific EV (There is a list of compatible chargers and EVs)
Where OVO Anytime looks like it has the lead is that it is an ANYTIME tariff as the name suggests.
Octopus Intelligent is a Smart tariff and like the name suggests it is intelligent. It charges your EV when the grid is the greenest making it better for you and the planet. Octopus aims to charge customers’ EVs at night when there is less demand on the grid. As the whole house gets off-peak electricity Octopus allows customers to bring the average price they pay for kWh down.
I spoke with the Head of Zero Carbon Living at Ovo Energy about the Ovo Energy Anytime tariff.
The Octopus Intelligent off-peak window is 11.30 pm to 5.30 am but if you need a longer charger you usually get it. The schedule is created after 5 pm but you cannot ask for your vehicle to be ready before 4 am.
OVO Anytime is a bolt-on tariff. If you are on the standard variable, as an example, you would continue paying that rate during the day. So when you are not charging your EV you aren’t charged any more. The standard variable tariff is roughly 34p per kWh. Whilst on Octopus Intelligent tariff you pay more. It would be roughly 40p – 42p per kWh throughout the day.
You can read my full review of Intelligent Octopus v Ovo Charger Energy in my recent blog post.
Overview: Charge cards are actually quite simple!
The horror of all e-car buyers? Expensive refueling at the charging station because they don’t have a suitable charging card at hand! and more providers are flooding onto the market, from ADAC to energy groups, from regional electricity providers to car manufacturers. all of them want to profit from the growth market of e-mobility. While it is still possible to charge an e-car free of charge at many supermarkets or furniture stores, the vast majority of charging stations in city centers and on highways can be activated using a charging card or app. In our charging card comparison, we took a look at how this works, which systems are good, and how you can make your daily charging routine more convenient.
Even though there are many charging cards on the market, in the end they all work the same. Using RFID, information is exchanged between the charging card and the charging station that authenticates users. The charging station now checks whether there is a valid agreement between the charging station operator and the charging card provider. According to studies on charging behavior, 83 percent of e-car drivers use charging cards. The cards are particularly popular with business customers: when colleagues are on the road with the company-owned e-cars, charging processes can be monitored and booked centrally, without the need for a company credit card and similar to the familiar fuel card for fossil fuels. A comparison of charging cards therefore sounds obvious.
Increasingly, e-car drivers are also using their smartphones for charging. A web application such as m8mit then serves as a substitute for a charging card. The charging point is selected directly on the cell phone, and the data exchange works without getting out of the car. The payment data stored in the app is debited, and the transaction receipt is shown directly on the smartphone display. In addition to direct debit, convenient payment service providers such as Paypal are now available to pay for the charging process. The big advantage is that you can save yourself the hassle of searching for the right charging card. The Ladesäulenverordnung (LSV), the regulatory framework for public charging stations, requires operators to offer an ad hoc solution at the charging station. In other words, no contract is required in advance. E-mobilists can usually start the charging process with a smartphone.
Roaming: The new standard
If you travel frequently throughout Germany or are planning a longer trip through Germany or Europe, you cannot avoid one of the so-called roaming providers. Most providers also offer roaming in the charging card comparison. The big advantage is that you can charge at most charging points in Germany with just one card or app. So if you’re from Dresden but want to charge your car in Düsseldorf, you don’t have to become a customer of Stadtwerke Düsseldorf first. Roaming providers offer their customers contracts for charging power at fixed conditions, regardless of the participating charging station. Often, only individual high-price operators such as Ionity are exempt from this.
Depending on the pricing model of the roaming provider, however, this can be a cost advantage or disadvantage. For example, ADAC members can charge at particularly favorable rates at normal charging points (AC) from as little as 0.38 euros / kWh, but with other providers the price can rise as high as 1.09 euros / kWh for fast charging points (DC). This saves you the trouble of comparing rates, and you don’t have to search for the cheapest charging point.
Nevertheless, the flexibility of roaming providers is gaining ground. Regional energy service providers now also offer the option of charging outside their own region via mobility associations or other cooperative ventures.
Municipal utilities: The regional price-performance winners
Municipal utilities from AllgäuStrom to the Wuppertal municipal utilities, but also municipalities, are often important charging station operators in their regions. The number of their own charging points therefore ranges from less than 10 in smaller municipalities to several hundred charging points operated by the municipal utilities in metropolitan areas. Since most e-car drivers with a small electric car are primarily on the road in their own town or district, regional energy companies are also very attractive in the charging card comparison. Providers like SachsenEnergie can often be significantly cheaper in their regions than national or international competitors. So if you’re largely traveling in your own region, it’s worth exploring what the local grid operator has to offer. In addition, many regional energy providers now offer Germany-wide or even EU-wide roaming. So it is always worthwhile to explore the local offer for the charging card comparison.
E-car charging convenient and cheap!
Automobile manufacturers: Roaming with certain advantages
What do Tesla, BMW, Hyundai and Volkswagen have in common? That’s right, they offer their own charging cards. Some car manufacturers have their own payment systems and tariffs. At Porsche, for example, the card comes as standard for the first three years. However, the days when these systems let you charge for a long time free of charge are largely over. Only at Tesla do you still get some models with the benefit of free electricity, and even that only at Tesla Superchargers or certain charging stations. Pricing models vary: some require an activation fee, while some charge monthly or annually. The charging models are also diverse: from one-time costs per charging process to billing according to time or consumption, everything is possible. for a kilowatt hour range from 29 to 79 cents. Therefore, the tariffs of the car manufacturers must be considered separately for the charging card comparison. Depending on the offer and your own driving profile, it is a good idea to look into the tariffs of the car manufacturer of your own e-car.
EV drivers can pay as much as 3½ times more if they don’t choose the right electricity provider and plan.
New research by the AA shows that EV drivers can pay as much as 3.5 times more to charge their EVs by failing to shop around for the right tariff.
Around 14,000 Battery Electric Vehicles have been sold so far this year in Ireland, which represents an 83% increase compared to last year. In the same period, sales of petrol and diesel vehicles have fallen by 7.6% and 20.5% respectively. With the government continuing its support of EV sales by providing grants, many car buyers are opting to go electric for the first time.
However many EV owners are now paying multiples more than their neighbours by failing to shop around, AA research has found.
Price variations
Ireland’s best-selling EV this year is the Volkswagen ID.4, which has a 77kWh battery. Some EV drivers can pay up to €33.32 to fill the ID.4’s battery. However, their neighbour could be paying as little as €9.74 to charge up.
Consumers that haven’t shopped around and have stuck to a tariff such as Electric Ireland’s Pay As You Go tariff and are paying as much as €0.4327 per kWh since the 1st of October. To fill the ID.4’s battery at this rate, they would pay €33.32
Their next-door neighbour with a Smart meter who has shopped around and got a night rate at €0.2155 only pays €16.59.
Savvy drivers with a Smart meter can take advantage of a tariff like the ‘Night Boost’ from Electric Ireland. The rate between 2 am and 4 am is priced at €0.1265. This is the equivalent of paying €9.75 for a full charge, which is about 3.5 times less than the driver that failed to shop around.
With the average motorist in Ireland driving about 17,000km per year, choosing the right time to charge and which tariff to use could save them up to €1,000 per year in charging costs alone. As long as they are happy to ‘top up’ by about 80km range per night, a year’s worth of driving would cost them a mere €404.00.
Petrol and Diesel remain high
With the average price of petrol at €1.84 and diesel at €1.94 according to our survey this month, we know that the same distance driven by your equivalent diesel will be about €1,900, and about €2,300 for the petrol version. Even paying the highest rate of domestic electricity from October 1st, the same 17,000km is going to cost an EV driver €1,381, but this analysis shows that it could cost as little as €404.
Electric Ireland offers a ‘Night Boost’ tariff that gives a discounted rate of €0.1265 per kWh. Those with a Smart meter can program their car to take advantage of this rate and charge only between the hours of 2 am and 4 am. This would be the equivalent of putting approximately 80km of driving range into the car every night for €1.90, which is about the same price as 1 litre of Diesel at today’s prices.
Those that don’t keep an eye on their electricity bills or when they charge their cars, may find themselves paying as much as €0.4327 per kWh since the 1st October. At this rate, the same 15kWh charge would cost €6.49, nearly 3.5 times more.
Shop around
The AA advises motorists to shop around and consider all of the options. Some homeowners that have solar on the roof may find themselves doing most of their driving for free using excess electricity from their panels. Electric Ireland has a rate that allows the users to elect a day on the weekend when electricity is free, although ‘unreasonable usage’ entitles them to remove that rate.
The other side of the coin is that those consumers with Smart meters and low nighttime rates will typically pay a higher rate during the day, and may also face increases in the standing charge. So, the EV driver looking to save money on the rate at which they charge their cars also needs to look at switching other activities such as storage heaters, hot water tanks and washing machines to the night rate also. Otherwise, they may face the gains of EV charging at night being wiped out by increased costs during the day.
The current energy crisis is hitting families and businesses hard with vastly increased for energy at home and work. A series of price increases over the last year has hit them hard. We are unfortunately not immune to further increases.
OVO Energy The EV Plan
In New South Wales, south-east Queensland, Victoria and South Australia, OVO Energy offers a dedicated electricity plan for EV owners called ‘The EV Plan’. This plan provides customers with a cheaper electricity rate between the hours of midnight and 6am to help them reduce the cost of charging their electric car. Please note, while customers must own a Smart meter in order to access this plan, households can remain on a single rate tariff on certain distribution networks in NSW, VIC, QLD and SA.
Here is the OVO Energy EV plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower network in Melbourne but may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here is the OVO Energy EV plan on our database for SEQ. This is a product from a referral partner†. These costs are based on the Energex network in Brisbane but may vary depending on your circumstances. This comparison assumes general energy usage of 4613kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here is the OVO Energy EV plan on our database for South Australia. This is a product from a referral partner†. These costs are based on the SA Power network in Adelaide but may vary depending on your circumstances. This comparison assumes general energy usage of 4011kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are the OVO Energy plans on our database for NSW south coast. These are products from a referral partner†. These costs are based on the Endeavour Energy network in Sydney’s Greater West but may vary depending on your circumstances. This comparison assumes general energy usage of 4913kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Simply Energy “Simply Electric Vehicle” Energy Plan
EV owners in Victoria can get a super off-peak discount of 6c/kWh for charging their EV between 12am and 6am with Simply Energy ’s EV plan. There are no lock-in contracts or exit fees. To sweeten the deal, Simply Energy is rewarding their customers with bonus charging, applied as a 200 credit to their account once they’ve transferred over to the Simply EV offer.
To be eligible, you must have an electric car and a Smart meter either already installed or be willing to install one.
Powershop Super Off-Peak Tariff
In Victoria, NSW, QLD and SA, Powershop is offering a ‘super off-peak tariff’ for those who own an electric vehicle. In order to be eligible, customers must own a Smart meter and move to a time of use tariff. meaning usage charges vary depending on the time of day power is used.
With the ‘super off peak’ tariff, customers will pay a significantly reduced usage rate between the hours of 12am and 4am on weekdays – ideal for those who charge their electric vehicles overnight. This tariff is available through Powershop’s 100% Carbon Neutral – Electric Vehicle plan.
Should I switch to an electric car plan?
Switching to a dedicated plan for electric cars definitely comes with its benefits. From cheaper tariffs at certain times, to inflated bill credits, it all seems too good to be true. With Powershop and OVO Energy, you’ll have to stay on top of what time you charge your car to get maximum benefit, while with AGL you’ll probably be best of delving a bit deeper into the true value of the bill credits when weighed up against usage and supply rates.
Keep in mind that, if you have an electric vehicle, you don’t necessarily need to sign up to an EV-specific power plan. Talk to your retailer about what the best option might be for your home because finding the best deal could come down to your individual circumstances. For example, you might not want to sign up to a time of use tariff just for the benefit of charging your car overnight if you’re going to end up paying higher than you need to for your general energy usage during the day.
Kelseigh Wrigley covers Australia’s retail energy market, growing her industry specific expertise over the last 2 years. She holds a Bachelor of Journalism at the Queensland University of Technology and has contributed her skills to online publications Hunter Bligh and local radio station 4ZZZ.