MSE Guide - Electric vehicle energy tariffs

MSE_Andrew

Hi all,

We have new Electric vehicle energy tariffs guide, and we'd love to hear your feedback.

If you haven’t already, join the forum to reply.

Thanks for your help,

MSE Andrew

MWT

Rather pointless to promote the guide without the list of tariffs...

The hard part for most people will be locating these tariffs, and they are still available for the most part, you just can't switch directly to them, so without that the guide isn't much help...

silvercar

Given that a lot of us will soon be on the capped tariff, if we aren’t there already, it would be good to know how that compares with the EV tariffs.

I’m an existing ovo customer, now on their variable capped tariff. I’m about to order an electric car, I saw that they were advertising a 1p a mile EV tariff. I have no idea if that is a lot cheaper than the market.

QrizB

silvercar said:

I’m an existing ovo customer, now on their variable capped tariff. I’m about to order an electric car, I saw that they were advertising a 1p a mile EV tariff. I have no idea if that is a lot cheaper than the market.

1p/mile would be around 4p/kWh, so yes much cheaper - if it's still available!

[Deleted User]

silvercar said:

Given that a lot of us will soon be on the capped tariff, if we aren’t there already, it would be good to know how that compares with the EV tariffs.

I’m an existing ovo customer, now on their variable capped tariff. I’m about to order an electric car, I saw that they were advertising a 1p a mile EV tariff. I have no idea if that is a lot cheaper than the market.

You need to work out your peak/Offpeak usage. For example, Octopus Go used to be the EV tariff of choice in that you got 4 hours a night at 5p/kWh and the rest at 15.63p/kWh (for my region). The peak price has now risen to c.26p/kWh. Unless you are a daily EV commuter, then an EV tariff might end up costing you more that a simple fixed tariff.

QrizB

Dolor said:

silvercar said:

Given that a lot of us will soon be on the capped tariff, if we aren’t there already, it would be good to know how that compares with the EV tariffs.

I’m an existing ovo customer, now on their variable capped tariff. I’m about to order an electric car, I saw that they were advertising a 1p a mile EV tariff. I have no idea if that is a lot cheaper than the market.

You need to work out your peak/Offpeak usage. For example, Octopus Go used to be the EV tariff of choice in that you got 4 hours a night at 5p/kWh and the rest at 15.63p/kWh (for my region). The peak price has now risen to c.26p/kWh. Unless you are a daily EV commuter, then an EV tariff might end up costing you more that a simple fixed tariff.

I've just had a quote for Ovo Drive from https://www.ovoenergy.com/electric-cars/ev-tariff

Unit rate: 29.85p/kWh, Standing charge: 24.9p/day

Once you sign up to Drive, you can then request Drive Anytime which gets you EV fuel for 5p/kWh: https://www.ovoenergy.com/electric-cars/anytime

To illustrate: for an average house using 2900kWh/yr at 29.85p/kWh, plus an EV using 2000kWh/yr at 5p/kWh, the effective price works out at 19.7p/kWh - marginally cheaper than the current Ofgem cap.

[Deleted User]

QrizB said:

Dolor said:

silvercar said:

Given that a lot of us will soon be on the capped tariff, if we aren’t there already, it would be good to know how that compares with the EV tariffs.

I’m an existing ovo customer, now on their variable capped tariff. I’m about to order an electric car, I saw that they were advertising a 1p a mile EV tariff. I have no idea if that is a lot cheaper than the market.

You need to work out your peak/Offpeak usage. For example, Octopus Go used to be the EV tariff of choice in that you got 4 hours a night at 5p/kWh and the rest at 15.63p/kWh (for my region). The peak price has now risen to c.26p/kWh. Unless you are a daily EV commuter, then an EV tariff might end up costing you more that a simple fixed tariff.

I've just had a quote for Ovo Drive from https://www.ovoenergy.com/electric-cars/ev-tariff

Unit rate: 29.85p/kWh, Standing charge: 24.9p/day

Once you sign up to Drive, you can then request Drive Anytime which gets you EV fuel for 5p/kWh: https://www.ovoenergy.com/electric-cars/anytime

To illustrate: for an average house using 2900kWh/yr at 29.85p/kWh, plus an EV using 2000kWh/yr at 5p/kWh, the effective price works out at 19.7p/kWh - marginally cheaper than the current Ofgem cap.

The sting in the tail is the 8.69/kWh unit price for gas. I happen to be on Go Faster which is working well for me as a very high percentage of my usage is within the cheap offpeak period.

wakeupalarm

Can someone explain how these energy suppliers can offer EV tariffs for 5p?  They must all be loss leaders as the cost of the energy produced is the same as any other energy.

What will happen when there are millions of EV on the roads, and millions of Heat Pumps installed in homes.  Surely, the price will just increase to be the same as anything else that uses electricity.

Unless they are being subsidised by EV manufactures, what's in it for the Energy suppliers.  A unit of electricity sold at 21p is surely better for the Energy supplier then a unit of electricity sold at 5p?

Verdigris

Can someone explain how these energy suppliers can offer EV tariffs for 5p?  They must all be loss leaders as the cost of the energy produced is the same as any other energy.

Simple. They offer the EV tariff at the time the spot price is very low, or possibly negative, when supply exceeds demand.

Anja

What is the difference between Economy7 and an EV tariff? Not sure you can still get economy7 but wouldn’t it make sense?

Verdigris

I don't think E7 is quite as cheap as the popular EV tariffs although the number of hours available on EVs is shorter.