As the UK energy sector expands with a surge of new providers, there’s been a notable trend with consumers demanding greener and more economical energy solutions. This shift has led to a dynamic competition among companies to stand out, inviting a closer examination where EV tariffs compared can showcase the best offerings. Within this competitive arena, Octopus Energy emerges as a forward-thinking frontrunner, exemplifying how an innovative approach to energy can meet the growing demand for sustainable and cost-effective energy options for electric vehicle owners.
Electric vehicles (EVs) are quickly becoming a preferred alternative to traditional petrol and diesel cars, supported by governmental policies and public interest in reducing carbon emissions. As EVs carve out their niche, an important consideration for owners is the economic aspect of charging their vehicles at home. Prospective and current EV owners are actively seeking the most value-driven electricity tariffs designed specifically for their electric cars.
To address this growing interest, our comprehensive blog post will engage in a thorough “EV tariffs compared” analysis across multiple energy suppliers, including Octopus Energy. This comparison will dissect the intricacies of EV charging costs, highlighting the variation in tariffs at different times—primarily focusing on how day and night rates compare. By doing so, we aim to arm consumers with the knowledge needed to make an informed decision when selecting an energy supplier that aligns with their individual EV charging needs and habits.
COST OF EV CHARGING: COMPARING OCTOPUS ENERGY WITH LEADING UK PROVIDERS
For a just and precise evaluation, we will examine the expenses involved in recharging an electric vehicle (EV) with a 60kWh battery capacity, which is typical for a majority of electric cars, from zero to full using a domestic 7kW charging point. This analysis will facilitate the calculation of the charging cost per kilowatt-hour (kWh) and allow us to contrast the tariffs set by Octopus Energy with those of other eminent energy providers in the UK.
OCTOPUS ENERGY
Octopus Energy offers a specialised EV tariff called “Octopus Intelligence Go” that is specifically designed for electric vehicle owners. This innovative tariff features a competitively priced off-peak rate of 7.5p/kWh from 23:30 to 05:30 GMT, which applies not only to your EV but to all appliances. Additionally, the system syncs with all major EV vehicles to create a tailored charging plan.
The Octopus Intelligence Go system optimises your charging schedule based on off-peak hours, ensuring you plug in your EV at the most cost-effective times. For instance, to charge a 60kWh electric vehicle fully during the off-peak window would cost only £3 (60kWh x 7.5p), while charging during peak times would incur a cost of about £8.40 (60kWh x 14p).
This intelligent syncing ensures maximum savings and efficiency for EV owners and applies the same cost-saving benefits to other household appliances, making Octopus Intelligence Go an ideal choice for most energy-conscious consumers.
Additionally, if you sign up today, you will receive £50 free credit for switching.
BRITISH GAS
British Gas offers an EV tariff called the “Electric Driver v7”, which includes an off-peak rate of 7.9p/kWh during a 5-hour nighttime window from 12am to 5am. Beyond these off-peak times, the tariff climbs to a peak rate of 26.263p per kWh.
To fully charge a 60kWh electric vehicle in the off-peak period would cost merely £4.74 (60 kWh x 7.9p), in contrast to a cost of roughly £15.76 (60 kWh x 26.263p) during peak hours. The “Electric Driver v7” tariff offers a fixed rate until 30th June 2025, with exit fees of £50.00 per fuel, though you won’t pay an exit fee if you switch to another British Gas fixed tariff. The estimated annual cost under this plan is £1,102.47, considering an estimated annual consumption of 7,500 kWh for gas and 1,800 kWh for electricity.
EDF ENERGY
EDF Energy provides a tariff named “GoElectric,” which caters exclusively to electric vehicle users. This tariff features a low off-peak rate of 4.5p/kWh across an extended 10-hour period overnight, from 21:00 to 07:00. The price per kWh increases to approximately 16p during daytime peak hours. For fully charging a 60kWh electric vehicle within off-peak times, the cost would be just £2.70 (60 kWh x 4.5p), whereas doing so in peak periods would cost in the region of £9.60 (60 kWh x 16p)
SSE
SSE offers an EV-specific tariff called “1 Year Fix and Drive”, which includes a yearly credit of £40 for electric vehicle owners. The tariff has a flat rate of around 16p per kWh at all times, as there is no designated off-peak rate for EV charging. Meaning that the cost of charging a 60kWh electric vehicle with SSE would come to about £9.60 (60 kWh x 16p), no matter when the charging occurs.
DAY/NIGHT RATE COMPARISON
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The table below presents a summary of the daytime and nighttime charges from each provider, offering an easily interpretable visual depiction of the variances among them:
| Supplier | Day Rate (p/kWh) | Night Rate (p/kWh) | Standing Charge | Off-Peak Hours | Exit Fee | More Details |
|---|---|---|---|---|---|---|
| Octopus | 26.3p | 7.5p per KWh | 48.66p per day | 23:30 – 05:30 | No Exit Fees | More Info |
| British Gas | 26.263p | 7.9p per KWh | 51.607p per day | 5-hour period (night) | £50 per fuel | More Info |
| EDF Energy | 32.82p | 13.40p per kWh | 50.67p per day | 21:00 – 07:00 | £75.00 | More Info |
| SSE | 35.87p | 19.19p per kWh | 19.19 per day | No specific off-peak | £75.00 | More Info |
In conclusion, against the backdrop of an evolving UK energy sector marked by innovation, our EV tariffs comparison highlights Octopus Energy as a leading figure. Not only does Octopus Energy offer competitive pricing, but it also provides innovative, tailor-made solutions for electric vehicle users. Its exclusive Octopus Go tariff stands as a testament to its commitment, offering EV owners an attractive off-peak rate for charging that balances economic and environmental benefits.
Through detailed analysis where EV tariffs are compared, Octopus Energy, British Gas, and EDF Energy clearly stand out as the preferred choices for those who drive electric vehicles. These providers present enticing rates, which form a stark contrast to the offerings from suppliers like SSE, who lag behind without a specific off-peak EV rate.
The comparison of EV tariffs reveals significant differences in pricing strategies and how these providers cater to the unique requirements of EV owners. This comparison underlines the critical aspect of choosing an energy supplier that meets both budgetary and environmental needs. For consumers dedicated to cost-effectiveness and reducing their environmental impact, a choice like Octopus Energy is emblematic of the optimal fusion of affordability and green energy.
