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EV Tariffs Compared: The UK’s Top Rates Compared

May 13, 2024

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 Go” that is specifically designed for electric vehicle owners. This tariff features a competitively priced off-peak rate of 5p/kWh from 00:30 to 04:30 GMT, and the standard rate for the rest of the day is approximately 14p/kWh. To charge a 60kWh electric vehicle fully during the off-peak window would cost only £3 (60 kWh x 5p), whereas charging during peak times would incur a cost of about £8.40 (60 kWh x 14p)

BRITISH GAS

British Gas offers an EV tariff called the “Electric Drivers Energy Plan”, which includes an off-peak rate of 4.7p/kWh during a 4-hour nighttime window (specific hours differ by region). Beyond these off-peak times, the tariff climbs to an estimated 18p per kWh. To fully charge a 60kWh electric vehicle in the off-peak period would cost merely £2.82 (60 kWh x 4.7p), in contrast to a cost of roughly £10.80 (60 kWh x 18p) during peak hours

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: 

SupplierDay Rate (p/kWh)Night Rate (p/kWh)Standing ChargeOff-Peak HoursExit FeeMore Details
Octopus29.78p9p per KWh48.66p per day00:30 – 04:30No Exit FeesMore Info
British Gas29.88p9.95p per KWh47.621p per day4-hour period (night)£75.00 – £200 per fuelMore Info
EDF Energy32.82p13.40p per kWh50.67p per day21:00 – 07:00£75.00More Info
SSE35.8719.19p per kWh19.19 per dayNo specific off-peak£75.00More Info
*Please note the above figures may vary between your region. these rates may be subject to change. To get a more accurate representation of the rates for your area, we recommend checking the respective supplier websites for up-to-date pricing information

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

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