Compare EV Tariffs.
Are you charging an electric vehicle at home? If so you’ll need to compare EV tariffs. We are in the middle of an energy crisis and so keeping running costs down may well be a priority! Buying or leasing electric care isn’t cheap. So ensuring you are not paying more than you should for your energy is important. It’s really easy to compare EV tariffs so give it a go.
Why pay more to charge your electric car?
Imagine if a petrol station started charging 75% less for fuel after midnight. There would be traffic queueing around the block waiting to grab a bargain. With Octopus Go that’s exactly what you get without leaving the comfort of your home! There’s no need to sit in line all you have to do is plug in and Go. If you have a home charger or your car allows you to preset charging times it’s even easier. Plus this isn’t a one-off gimmick. Octopus Go is a 12-month fixed tariff and Octopus is continuing to offer the 7.5p per kWh to both new and existing customers. 💃🕺
How much does charging an electric car at home add to your energy bill?
According to the UK Department of transport in 2019, the distance a UK car travelled was on average 7,400 miles. An electric vehicle will do on average somewhere between 2.5 and 4.5v miles per kWh depending on the battery. If we take an average of 3.5 miles per kWh each car will use 2,114 kWh a year. (That’s it for the technical side 😆🤯)
If you are on the Octopus Go tariff and driving 7,400 miles a year, using the above example, your electricity cost for charging at home will add £158.55 to your energy bill over 12 months if you charge off-peak. (2,114 kWh x 0.075p)
If you charge at the price cap limit which is roughly 21p per kWh you will pay £443.94. That’s still really low compared to a year’s worth of petrol or diesel BUT it’s £285.39 more than you need to pay if you switched to Octopus Go.
Is Octopus Go the best electric vehicle energy tariff on the market? Is there a cheaper electric vehicle tariff for home charging?
In my opinion yes, Octopus Go is the best energy tariff on the market for charging an electric vehicle at home!
- The Octopus Go tariff costs approximately £1.56p per mile when you charge your electric vehicle at home using Octopus Go off-peak.
- EDF Go Electric 35 is a close second at 0.94p per mile BUT they take second place as they charge 34.34p per kWh during peak times and there’s an exit fee! Peak times equate to 19 hours of the day. Octopus Go is 30.77p per kWh during peak times, a difference of almost 3.57p a kWh plus there’s no exit fee!!
|Energy PrIce 22/01/22|
|Comparing Electric Vehicle Tariffs||EDF GoElectric 35 Tariff (5 hours off peak)||Octopus Go Tariff (4 hours off peak)|
|Off-peak energy price||4.5p per kWh for 5 hours.||7.5p per kWh for 4 hours.|
|Standard energy price.||34.34p per kWh||30.77p per kWh|
|Daily standing charge||32.11p a day.||24.86p a day.|
|EXIT FEE?||YES ❌||NO 💚|
The general advice at the moment is to stay on the price cap and not switch away from the standard variable tariff. This is general advice that doesn’t take into account varying energy needs such as charging an electric vehicle. You have to consider if charging your electric vehicle off-peak at home will reduce the average price you pay per kWh if you switch to Octopus Go.
The energy price cap is to rise by approximately 50% in April. The price cap will then roughly increase from 21p a kWh to 31.5p a kWh. Octopus Go daytime rate is 30.77p and is fixed for 12 months. The price cap may rise again in October 2022. No one can predict what will happen but with Octopus Go you can lock in a 30.77p per kWh rate AND get 4 hours at 7.5p a kWh for 12 months!
Aren’t all Energy suppliers the same? Octopus Energy and British Gas. (My current and previous Energy suppliers)
This month I watched Chris O’Shea, CEO of Centrica (the company that owns British Gas) give oral evidence in a Select Committee meeting. The committee was looking into the current energy crisis and ways to achieve Net-Zero. Mr O’Shea called for less competition and more regulation, while Greg Jackson the CEO of Octopus Energy said the polar opposite!!
Greg Jackson the CEO of Octopus Energy talked about Elon Musk and how electric vehicles can be the gateway to achieving Netzero!! He also went on to explain how companies could, if regulations changed, offer cheaper, greener energy to their customers when green energy is abundant.
When you decide on your energy supplier if electrification and achieving Netzero is important to you I think looking at the suppliers’ long-term goals and values has to be a consideration.
You can watch the Industries and Regulators committee meeting. Chris O’Shea is up first and an hour or so later Greg Jackson. It is like watching people from 2 different eras!
My previous supplier British Gas has this to offer exclusively to EV divers!
Comparison between British Gas and Octopus Energy electric vehicle tariffs. 👇
Cheapest EV tariff quoted by British Gas.
Comparing Electric Vehicle Tariffs - 22/01/22 British Gas - Electric Drivers Feb 2024 Octopus Energy - Go Tariff
Unit price off-peak 15p per kWh 👀😭(5 hours off peak) 7.5p per kWh (4 hours off peak)
Standard unit price. 40.165p per kWh 30.77p per kWh.
Standing charge 48.209p per day 24.86p per day
Fixed Contract ends. February 2024 12 months
EXIT FEE NO 💚 NO 💚
Octopus Energy is beating other energy providers hands down with their electric vehicle tariffs. They reward electric vehicle drivers for taking the step to going all-electric. Buying an electric car isn’t the cheapest option BUT by reducing the running costs with ridiculously cheap home charging electric vehicles start to look more attractive. Compare the running costs of a combustion car to your chosen electric vehicle. It’s quite an eye-opener.
The cheapest British Gas EV tariff is 15p per kWh off-peak for 5 hours compared to 7.5p a kWh Octopus Energy off-peak Octopus Energy currently have on offer. That’s staggering BUT there’s an even bigger price gap for the remaining 18 hours of the day. The standard rate for energy with British Gas, during the day, is 40.165p per kWh compared to 30.77p per kWh with Octopus! I don’t think you need a calculator to work out which one is the far better deal! The mind boggles! How is that helping anyone go green!!
💚🚘💚⚡️☀️ ⏰ 🚘💚⚡️☀️ ⏰.