With public consciousness about green energy rising, it is no wonder that electric cars are becoming more popular. Electric vehicle energy, or EV energy, has proven itself to be a viable alternative to petrol and diesel. Of course, all energy sources come at a cost.
Electric car owners who make the switch from petrol to a more sustainable alternative do not want to pay sky-high rates for their decision. At Power Compare, we want to make sure that sustainable choices are rewarded. EV energy tariffs do not have to put a hole in your pocket, especially if you compare electricity prices.
In this article, our experts explore the world of electric car energy to find you the best deal. Keep reading to discover the differences between OVO, EDF, and Octopus energy EV tariffs.
Electric Cars for Beginners
Electric and plug-in hybrid cars represent a step towards a greener future. As the name suggests, electric cars use electricity as a source of power. Hybrid cars use electricity to power the motor and petrol or diesel to power the internal combustion engine.
No matter which type of electric car you choose, you will need to plug it into a charging point. This is where finding the best EV energy tariff becomes important. The advent of electric and hybrid cars has encouraged suppliers to develop tailored packages. Suppliers decided to capitalise on previously unprofitable off-peak times and offer large discounts to people who charge their cars at night.
EV Energy Tariffs
Lots of companies have tailored tariffs that are designed for electric car owners. Some suppliers even offer tariffs for homes that have EV charging points. Most tariffs come with renewable energy as a standard.
There are a few important things to consider before you purchase an electric car. People are only eligible for an EV energy tariff if they:
- Own or lease an electric vehicle
- Sign up for a monthly direct debit
- Have a smart meter in their property or install one
You can also apply for a home charge point discount if you are eligible for the Office for Low/Zero-Emission Vehicles’ (OLEV) government grant. OLEV is a government team that offers incentives to people who want to access discounted electric cars. This grant gives people a maximum discount of £2,500 off specific cars.
To find the best EV energy tariffs, you have to do your research. Suppliers sell electricity per unit, which is why it is important to check the unit price for each tariff. Electric car owners should look for Economy 7 and Economy 10 tariffs, which generally offer low unit prices during different times of the day. If you charge your car at night, you could make real monthly savings by taking advantage of tariffs that offer low unit prices outside of peak times.
Best EV Energy Tariffs
You should always choose a tariff that has low unit rates. That being said, there are lots of different suppliers to choose from. All of them claim to offer the best deal on the market.
At Power Compare, we streamline the selection process. Our experts have researched the best tariffs so that you do not have to. Read through our findings to discover which company offers the cheapest, reliable tariff for your car.
We recommend Octopus for lots of different reasons. This company ranks amongst the best choices for electric car owners because it guarantees 100% renewable energy and cheap off-peak times. 100% renewable energy means that eco-conscious individuals can sleep easy at night whilst their car is charging.
Octopus offers their electric car customers a tariff called Octopus Go. Customers on this Octopus Energy EV tariff can expect:
- 5p per kWh for 4 hours every night (from 12:30am to 4:30am)
- 25p per day standing charge
- 100% renewable energy
- 50% cheaper rates than typical Economy 7 nighttime rates
Octopus recommends that their customers buy a smart charger. With this extra piece of kit, your car will start charging automatically during the 4-hour off-peak period every night. Smart chargers make monthly savings easier than ever.
Charges from 4:30am to 12:30am peak times vary depending on your location. Customers can expect to pay much more per kWh during peak times. Typical rates come to around 14p per kWh.
An article about EV energy tariffs would be incomplete without mentioning EDF GoElectric. EDF offers its customers 3 different types of deals. This company has something for every kind of driver.
EDF’s GoElectric 98 plan stands out from the crowd because of its off-peak prices and times. Customers on this tariff can expect:
- 11.50p per kWh during off-peak times (between 9pm and 7pm Monday to Friday and any time during the weekend)
- 25-30p per day standing charge
- 24-29p per kWh peak rate
- 100% zero-carbon renewable energy (sourced from wind and solar power)
We recommend the GoElectric 98 plan for drivers who want more flexibility around off-peak times. Customers can take advantage of 98 hours of off-peak charge time, which is more than any other tariff.
Like the Octopus Energy EV tariff, this tariff is designed for environmentally conscious people. OVO offers its customers 100% renewable energy on 12-month contracts with fixed rates. Fixed rates mean that you do not have to worry about unexpected rises.
Residential homeowners can power both their car and home with OVO Drive. Customers can add OVO Anytime to their existing OVO Drive contract for cheaper car only rates.
Customers can also expect:
- Further savings with OVO Greenlight
- 5p per kWh at any hour
- Varying standing charges depending on location
- £70 off smart chargers
OVO Greenlight is a recent addition to the company’s EV energy tariff packages. Greenlight brings consumers relevant, eco-conscious information on how to save money. This addition shows that OVO cares about its customers and the planet.
How Much Does it Cost to Charge An Electric Car?
There is no definite answer to this question. The answer depends on the type of electric car you own as well as the type of tariff you are on. Shopping around and finding a better EV energy tariff can make the world of difference to your bill.
We can only provide you with examples of how much your EV energy tariff might cost. It costs between £9 and £9.90 to fully charge a 60kWh electric car. If you have a car that fits this description, you can expect 200 miles of range from a full charge.
You can calculate the exact cost of a full charge with this formula:
- Tariff (e.g. 17p/kWh) * Battery size (e.g. 100kWh) / 100 = Cost to fully charge
Most Energy Efficient Cars
It is no surprise that electric cars are far cheaper to run than traditional fuel cars. When it comes time to purchase your electric vehicle, it is still a good idea to shop around and find the most energy-efficient option.
Our energy-savvy experts have searched around to find the most efficient vehicles. Here are our top 3 picks.
- Volkswagen e-Up – The Volkswagen e-Up boasts 117kWh/km, which means that it ranks amongst the most economical cars on offer. This car can run for 100 miles for just £1.73, and only costs £2.81 to charge completely! It also has a range of 162 miles. If you want to make your EV energy tariff even more affordable, choose a Volkswagen e-Up.
- Smart ForFour – This electric vehicle offers drivers 161-180kWh/km, which is far more than the Volkswagen e-Up. It costs £1.53 for a full charge and £2.28 per 100 miles. This car is not best suited to everyone because it is very small. It can only travel 67 miles before it needs another charge. We recommend this car for people who need a reliable means of travelling around their local area.
- Hyundai Ioniq Electric – Hyundai is a big name in the car industry. It specialises in creating stylish vehicles that are ideal for day-to-day use. The Hyundai Ioniq Electric car is no exception. Eco-conscious individuals do not have to downsize when they choose the Hyundai. It offers drivers 138Wh/km and a range of 194 miles. The cost of a full charge is slightly larger than that of the Volkswagen and SmartForFour. A full charge will cost you £3.33, whereas 100 miles costs £1.72.
At Power Compare, we always encourage consumers to compare home energy. Most energy suppliers have sign-on incentives for new customers, but fail to incentivise existing customers to stay. In the modern energy landscape, switching providers is the easiest way to save money on your bill.
Put your details into our energy comparison generator and find out how much you could save within minutes. There are great savings to be made on gas, electricity, and broadband. We exist to streamline the switching process. With just a few clicks, you can find all the information you need to make an informed decision.