Best EV Energy Tariffs for Cheap Charging

 Electric vehicle owners can drastically reduce the cost of charging their electric car by switching to a smart energy tariff

 

 

 

How much does EV charging add to my energy bill?

There will be a range of factors that come into play to determine this, including the type of charger, the size of your EV's battery, how many times you need to charge each month, as well as whether you have solar panels to offset some of the energy costs.

There will be an increased charge to your home electricity bill, but this won't be significant, particularly when switching to an off-peak or smart electric vehicle-specific tariff and taking into account just how much energy will be saved by no longer filling up with petrol or diesel.

 

 

Can switching to an EV tariff help me save money on my home EV charging bill?

Switching to an EV tariff is the best way to help save money on your energy bill when driving an electric car. Energy suppliers like Octopus Energy offer cheaper electricity from 7.5p/kWh for six hours every night.

For example, a Tesla Model Y Long Range Dual Motor with a 78.1kWh battery, 337 mile range and a Type 2 connector would cost just £5.86 for a single charge overnight on the 7.5p/kWh off-peak rate provided by Intelligent Octopus.

This compares to £26.55 for a single charge for the same electric car when looking at the average UK electricity tariff.

It's also worth mentioning that both of these options for smart charging your electric vehicle at home are still more cost effective than filling up a full tank of petrol or diesel at a fuel station.

More detailed information on EV energy tariffs can be found in Smart Home Charge's own in-depth guide and we also have a detailed cost to charge at home tool that can be used to compare tariffs and the charges you can expect when charging at home.

 

Which tariffs offer the best value EV charging?

More and more energy companies are adding smart electric vehicle specific tariffs to increase the level of choice for consumers.

We've collated some of the best here based on price, convenience, sustainability and the latest innovations being made in the energy market.

You can also compare all the charging costs of the tariffs below using our handy cost to charge tool.

 

Octopus Energy Intelligent tariff - Cheapest off peak rates

Off-peak price: 7.5p/kWh
Off-peak time hours: 23:30 - 05:30 (6 hours)
Standing Charge: 47.95p a day
Which? assessment score: 72%
Trustpilot score: 4.8
Cost to charge

Octopus Energy has been a pioneer in the smart EV tariff space and offers prices as low as 7.5p/kWh

The energy supplier says it is possible to save up to £800 a year when compared to using a standard energy tariff. Customers can smart charge an EV overnight and will also get six hours of low cost energy for their whole home between 11:30pm and 5:30am.

The Intelligent tariff is compatible with electric cars, with the Ohme Home Pro and Ohme ePod, as well as 280 EVs, including models from Tesla, Ford, Volkswagen, Jaguar and Land Rover.

The energy through Intelligent is also 100% renewable, so that's another added bonus of switching to this tariff.

 

 

EDF GoElectric Overnight - The best Octopus Energy alternative

Off-peak price: 8p/kWh
Off-peak time hours: 00:00 - 05:00 (5 hours)
Standing Charge: 47.95p a day
Which? assessment score: 66%
Trustpilot score: 4.3
Cost to charge

This new fixed tariff offers off-peak rates for EV charging and home energy from 8p/kWh. This tariff offers five hours of charging overnight and is also 100% zero carbon energy.

The off-peak charging times are between 12am-5am during winter (GMT) and then 1am-6am during summer (BST).

EDF says the EV tariff works with all smart charge points and electric cars and is available to all new and existing customers.

EDF recommends that customers should be using at least 25% of their energy within the off-peak hours for GoElectric Overnight to be the best option for their needs. It said its EV customers use an average of 51% during off-peak hours on this tariff.

A single charge for a Tesla Model Y Long Range Dual Motor on EDF's GoElectric Overnight tariff would be £6.25.

 

OVO Charge Anytime - Best for shift workers

Off-peak price: 7p/kWh
Off-peak time hours: N/A
Standing Charge: 47.95p a day
Which? assessment score: 64%
Trustpilot score: 4.3
Cost to charge

The concept for this tariff is all in the name. You don't have to charge overnight, so this rate offers pricing from 10p/kWh and there are no restrictions on when you plug in.

This makes it a really good option for EV owners and drivers that are on shifts and may be charging their EV during the day.

OVO customers can set when they want their EV to be charged by and then the energy provider sorts out the rest, making sure that electric vehicles are topped up when the most renewable energy is available from the grid.

The Charge Anytime tariff is compatible with a wide range of EVs from Audi, BMW, Cupra, Ford, Jaguar, Mini. Porsche, Renault, Seat, Skoda, Tesla, Volkswagen and Volvo.

Customers who own a vehicle that's not on OVO's compatibility list can still sign up to Charge Anytime if they have an Ohme ePod, Home Pro or Indra charger.

A single charge for a Tesla Model Y Long Range Dual Motor on the OVO Charge Anytime tariff would be £7.81.

 

British Gas Electric Driver tariff - EV tariff with the best compatibility

Off-peak price: 8.95p/kWh
Off-peak time hours: 00:00 - 05:00
Standing Charge: 47.95p a day
Which? assessment score: 56%
Trustpilot score: 4.0
Cost to charge

The British Gas EV tariff offers pricing from 9.4p/kWh between 12am-5am, with prices locked in until September 30, 2024. All energy provided on this EV tariff is 100% renewable.

There are no rules on what customers use the energy for, so it's possible to charge EVs overnight, as well as smartphones, laptops and higher energy usage appliances like washing machines and dishwashers.

A single charge for a Tesla Model Y Long Range Dual Motor on the British Gas Electric Driver tariff would be £7.34.

 

Ecotricity - The energy provider with the greenest credentials

Off-peak price: 8.95p/kWh
Off-peak time hours: N/A
Standing Charge: 47.95p a day
Which? assessment score: 72%
Trustpilot score: 4.2
Cost to charge

Sometimes price isn't always the biggest concern and so if you're looking for the most sustainable option for charging your EV, Ecotricity offers some of the greenest credentials in the UK.

Its electricity is 100% renewable from solar and the wind power. The business generates about 20% of it this energy through its own renewable projects and the rest is certified green energy it buys from other green generators or through the wholesale market.

One differentiator from other energy companies is that Ecotricity is investing the money it makes from electricity bills through services provided to customers to put it back into building new wind and solar generators across the UK.

This is to make sure it is increasing the total amount of renewables available to all, "rather than just trading what already exists".

There is a premium to pay for this clean green energy, with a rate of 22.5p/kWh, taking the price of a single charge for a Tesla Model Y Long Range Dual Motor to £17.57 when charged off-peak overnight.

UPDATE
Ecotricity has since released a dedicated EV tariff, which offers 8p per kWh of electricity between 00:00 and 05:00. This would cut the cost of charging a Tesla Model Y Long Range Dual Motor down to just £6.25 per single charge.

 

Honourable mentions go to...

Smart energy tariffs for EVs are still relatively new, but the UK's energy companies are pushing forward to innovate with more experimental options available.

 

Octopus Energy Agile - The energy tariff for the experimental few

This dynamic tariff is really only suitable to EV drivers and home energy enthusiasts that can take advantage of "Plunge Pricing".

Across the UK, whenever more electricity is generated than consumed, energy prices fall – sometimes to the point where prices drop below zero, and suppliers are paid to take energy off the grid.

Agile Octopus lets customers take advantage of these negative price events, and get paid for the electricity used. Customers receive alerts whenever prices drop below zero and can use Octopus' Agile API to program smart devices and EVs to take advantage.

Octopus said that between July 2020 and July 2021, unit prices dropped below 2p/kWh 163 times, which would dramatically drop the price of charging an electric vehicle.

There is a flip side to this however, with prices also at risk of spiking. When more electricity is being used than generated, wholesale prices rise.

While price spikes are short-lived, typically lasting 30 minutes to an hour, they do happen. Agile Octopus does include a Price Cap Protect, which ensures customers will never pay more than 100p/kWh for their energy.

Agile prices vary a lot based on trends in the wholesale energy market. Octopus has said itself that Agile's prices are consistently high right now, so it's likely customers would be able to save more money by sticking to a standard variable, fixed tariff or alternative EV tariff throughout the Winter.

If you're curious about Octopus Agile then be sure to check out Danny's written and video review.

 

Octopus Go and Octopus Go Green - For those who don't qualify for Intelligent Octopus

Octopus also has other EV tariffs for those that don't have an Ohme smart home charger or an electric car that's compatibile with Intelligent Octopus. This includes Octopus Go, which offers off-peak hours between 00:30 - 04:30 every night priced from 9.5p/kWh.

Octopus Go Green is similar, but 100% of the energy is powered by green electrons purchased directly from renewable generators. This tariff is only compatible with EVs from Volkswagen, Audi, Seat, Skoda or Cupra.

 

100 Green (formally Green Energy UK) EKO - For the extra eco-conscious out there

100 Green EKO tariff takes the idea of ‘green’ even further. It’s not only 100% renewable; but also fulfils strict criterias, for those customers that are looking for even more sustainability credentials.

All energy farms have to ensure they work to minimise their impact on the surrounding environment and the energy is generated in locations that ensure marine and bird habitats are safeguarded.

Prices are around 36.81p/kWh, so it's significantly more expensive than other tariffs highlighted here, but it's certainly an interesting option for those who are looking for the most sustainable energy available.

 

Explore your options

As it's clear to see from this article, there are plenty of options available to drivers looking for the best EV energy tariff.

Energy providers are rapidly innovating and experimenting, so it's worth exploring what options are available to you, use Smart Home Charge's handy cost to charge tool to find out which tariffs will be most cost effective for your EV and your home.