Cheaper home energy prices from today will deliver lower-cost EV charging but drivers could cut their costs further. The price most households pay for gas and electricity has
Cheaper home energy prices from today will deliver lower-cost EV charging but drivers could cut their costs further.
The price most households pay for gas and electricity has fallen around 7% under Ofgem’s new Energy Price Cap rates. For electricity, the new Standard Variable Tariff (SVT) for electricity falls from 27.03p to 25.73p/kWh, making charging an EV at home cheaper than before.
But Ohme has highlighted that those charging costs could be even lower with one of the many off-peak and smart energy tariffs on the market.
EV-friendly tariffs such as Intelligent Octopus Go have rates as low as 7p/kWh, chopping charging costs by more than two-thirds and enabling a typical EV driver to run their car for less than £10 a month.
Ohme CEO David Watson said: “Charging at home will always be the most affordable place for EV drivers to charge their cars and this lower electricity price is great news to help them reduce their running costs.
“However, any EV driver charging at home should look at switching to one of the wide range of energy tariffs that drop those costs still further to help save them even more money.”
As an example, fully charging a Volkswagen ID.5 with a 77kWh battery from 0% on the new SVT rate from 1 July will cost £19.82.
But with an Ohme smart charger on a dynamic tariff such as Intelligent Octopus Go the same charge could cost just £5.39 for the VW’s 344-mile WLTP claimed range.
Over the course of a year, a typical EV driver covering 6,800 miles a year would pay £119 on Intelligent Octopus Go compared to £437.41 on the SVT. The same mileage in an average petrol car would cost more than £1,000.
