How to keep the cost of charging your electric vehicle (EV) down in the current climate of energy price rises

As more energy industry observers warn of dramatic price increases this winter, it’s crucial electric vehicle (EV) drivers ensure they are on the best possible tarriffs. EV smart charger provider Ohme says that it’s important to get the best tariffs at home and use a smart charger to achieve this. 

Until now, electric car drivers have enjoyed incredible savings compared to driving a petrol or diesel car but industry experts are now predicting wholesale prices to more than double this winter. This will raise the Standard Variable Tariff set by Ofgem to around 60 pence per kWh. This is more than double the current rate of 28 pence per kWh.

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Drivers of electric vehicles will be hit especially hard by this increase as it could see their running costs rise dramatically. It’s therefore important that electric car drivers protect themselves from the worst of the forthcoming rises by charging their car using a smart charger, such as Ohme’s Home Pro, alongside a discounted off-peak tariff offered by numerous energy suppliers.

David Watson, Ohme CEO, said: “It’s great that so many drivers have made the switch to an electric vehicle but if they’re not already on an off-peak tariff those drivers need to quickly review their options to protect themselves from these future wholesale price rises.

“Our advice at Ohme is to speak to your existing electricity supplier and see if they offer an off-peak tariff such as Octopus or OVO Energy. If they don’t, then look at switching suppliers to one that does so that you can off-set the impacts of these significant price increases that experts are predicting.”

If charging an electric vehicle on an off-peak tariff, electric car drivers can still enjoy the benefits of those low running costs that are the equivalent of just 1.9 pence per mile with the likes of Octopus Intelligent at 7.5 pence per kWh. That means a typical UK driver’s annual mileage of 6,800 miles in an average electric vehicle could cost just £127.50.

By comparison, at the current Standard Variable Tariff of 28 pence per kWh, that same annual mileage would cost a driver £476. If, as predicted, that standard electricity tariff rises to 60 pence per kWh, those same 6800 miles would cost an electric vehicle driver £1020 – eight times more than on an off-peak tariff.

Ohme’s Home Pro smart charger can connect with the national grid in real-time and automatically adjust its charging for drivers to take advantage of all the times of low price charging with smart off-peak tariffs. Ohme also offers drivers the option to charge their car when renewable energy generation on the National Grid is at its highest, further lowering their CO2 impact.

All of this proves that driving an electric car still offers huge savings when it comes to running costs compared to a combustion engine vehicle. With a little planning when it comes to tariffs and using a smart charger will be invaluable and offer huge savings in the longterm.

Ian Osborne
Ian Osborne
Editor-in-Chief at ElectricDrives

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