Charge smart, save more: Best EV tariffs revealed

With the rapid rise in electric vehicle (EV) adoption across the United Kingdom, choosing the right tariff for your EV charging needs has become increasingly important. The good news is that the UK offers a wide range of Electric Vehicle Tariffs (EV tariffs) tailored to suit various lifestyles and driving habits. In this post, I’ll take a closer look at some of the best EV tariffs currently available in the UK and see if they’re good value for money.

EV tariff comparison

I bought my Tesla a little while ago now. There were two main reasons – first, I thought it was an awesome car and second, it meant that I didn’t have to spend a fortune on fuel.

But a lot has changed since I first started looking at EVs. Instead of electricity setting me back under 15p per kWh, it had more than doubled. So, although EV driving was going to save me some money, it was nowhere near as much as I hoped.

Fortunately, quite a few energy providers have picked up on the popularity of EVs and have started to offer specific tariffs to owners, which, in theory, should reduce your electricity bill and cut the cost of motoring.

How does an EV tariff work?

Almost all EV tariffs in the UK feature time-of-use pricing, where the cost of electricity varies based on the time of day and the level of demand on the grid. In most cases, an EV tariff allows you to charge your car far cheaper at night – very similar to an Economy 7 tariff. Only OVO breaks the mould and allows charging throughout the day.

However, in exchange for cheaper night-time charging, you may pay more for electricity during the day.

Do all EV tariffs need a smart meter?

Yes. Because of how they work, your energy provider will need to know exactly when you are using the electricity. This can only be done if you have a smart meter.

The best EV tariffs in the UK

Please note that the standing charge and day rates quoted below are based on the South-East region. Rates do vary between regions. Night rates and hours are standard across the UK.

How do the EV costs compare?

It’s all very well seeing the unit prices, but how does this translate to real-life costs?

The table below uses a Nissan Leaf with a usable charge capacity of 59 kWh. The stated range is 212 miles on a full charge… so that’s probably closer to 180. We’ll assume that the car is charged once per week. In total, this comes to an annual usage of 3,068 kWh with a mileage of 9,360. This is the average milage the RAC predicts electric cars make.

We’ll also assume that (as stated by Ofgem) the average medium-sized home uses 2,700 kWh of electricity per year.

Standing charge: A daily fee, no matter how much electricity you use. This is the annual figure.

Off-peak use: This consists of 3,068 kWh for charging the car annually and 270 kWh of home electricity (10% of the average annual usage). OVO Charge Anytime is for car charging only.

Day-time use: Based on an annual usage of 2,430 kWh

The average tariff at the bottom of the table uses a unit rate of 24.5p per kWh and a standing charge of 60.10p per day – the current price cap.

	Standing charge	Off-peak use	Day-time use	Total cost
Intelligent Octopus Go	£200.13	£250.35	£679.91	£1,130
Octopus Go*	£200.13	£300.42	£679.91	£1,180
EDF GoElectric	£209.51	£300.90	£711.26	£1,222
EDF Pod Point EV Exclusive	£209.51	£247.01	£711.26	£1,168
British Gas Electric Driver	£162.54	£298.78	£756.02	£1,217
E.ON Next Drive	£173.59	£267.04	£784.16	£1,224
OVO Charge Anytime	£207.69	£214.76	£614.30	£1,036
Average tariff	£219.37	N/A	£1,413.16	£1,632

*Please note that this is a direct comparison. It is unlikely that most users will be able to sufficiently charge their car in the 4-hour timeframe provided.

How much can an Electric Vehicle tariff save you?

An EV tariff will save most drivers money. An average driver can save almost £600 per year compared to a standard tariff. And the more miles they drive, the more they save.

Even a driver who covers 5,000 miles per year should be able to save money.

Solar panels and batteries

Obviously, none of the above takes into consideration solar. If users can generate their own electricity during the day and use the grid to fill up their batteries at night, then an EV tariff has the potential to save them a lot more.

Which is the best EV tariff?

OVO Charge Anytime stands out. Not only does it have the lowest day rates, but it also has the cheapest charging rates, and the car can be charged at any time.

Be warned, OVO doesn’t have the best reputation and I have seen plenty of customers venting their anger on various forums and groups.

If you want to avoid OVO, consider Intelligent Octopus Go. It’s the next cheapest and has a good reviews from customers. Plus, you can get a £50 credit to your account using a referral code.

Octopus Go, EDF and British Gas are more expensive than Intelligent Octopus Go and have a shorter night-time schedule. E.ON Next offers longer hours, but again, it is more expensive.

Other benefits of an EV tariff

Of course, saving money is probably the biggest benefit most of us want. However, choosing an EV tariff comes with some added extras.

1. Environmental Benefits: Some EV tariffs offer access to renewable or green energy sources. Choosing an EV tariff with a green energy component allows you to power your EV with electricity generated from clean and sustainable sources, reducing your carbon footprint and contributing to environmental preservation.
2. Convenience: Some EV tariffs include additional services or features that can enhance your EV ownership experience. For instance, they might provide access to a network of public charging stations, home charger installations, or mobile apps for monitoring and managing your EV’s charging and energy consumption.
3. Support for EV Infrastructure: By opting for an EV tariff, you are indirectly supporting the growth and maintenance of EV infrastructure, including charging networks. Many energy providers reinvest a portion of their EV tariff revenues into expanding charging infrastructure, helping create a more extensive and accessible charging network for all EV owners.
4. Alignment with EV Ownership: EV tariffs are tailored to the unique needs of electric vehicle owners, taking into account factors like charging patterns, battery size, and energy consumption. This alignment ensures that you’re getting the most suitable and cost-effective energy plan for your EV.
5. Reduced Grid Load: Charging your EV during off-peak hours, as encouraged by many EV tariffs, helps distribute electricity demand more evenly throughout the day. This can alleviate stress on the grid during peak hours and contribute to a more reliable and efficient electrical system.
6. Support for Renewable Energy Transition: Choosing an EV tariff that includes renewable energy can play a part in accelerating the transition to a cleaner and more sustainable energy system, ultimately benefiting the environment and future generations.

Other ways for cheap EV charging

An EV tariff isn’t the only way to save money when charging your car.

Free charging points

Free chargers are dotted around the UK, with most at supermarkets. But it’s not really a way to keep your car charged constantly. Most of these chargers are “slow chargers”, and it would take over a day to recharge a car completely. Still, it’s useful for a top-up.

Solar panels

Solar panels are a great way to get access to free electricity. The issue is, most domestic installations are limited in the amount of power they can produce. Plus, they aren’t cheap to buy. Even so, if you have them on your roof and a compatible charger (such as Zappi), it can be set only to charge a car when the panels are generating excess electricity. This can be a slow process, but it is free.