Electric drivers tariff cheaper to stay put?

Klouise12

I know a lot are saying to stay put and go on the standard tariff once your tariff is up however is that still the best case for electric drivers? I’m with British Gas and I have a cheaper rate off peak hrs to charge the car and the fixed tariff runs out at the end of this month, if I don’t change tariffs they’ll put me on a standard tariff where it’s just a standard rate 24hrs a day…has anyone changed tariffs yet where it is cheaper to move tariffs or not?

[Deleted User]

Klouise12 said:

I know a lot are saying to stay put and go on the standard tariff once your tariff is up however is that still the best case for electric drivers? I’m with British Gas and I have a cheaper rate off peak hrs to charge the car and the fixed tariff runs out at the end of this month, if I don’t change tariffs they’ll put me on a standard tariff where it’s just a standard rate 24hrs a day…has anyone changed tariffs yet where it is cheaper to move tariffs or not?

With respect, you have posed an unanswerable question as only you know how much energy you use in a year and how much of this is purchased at the cheap EV rate. I am on an EV tariff and I will remain on one as the peak/Offpeak ratio works in my favour. However, as my supplier has just increased its Offpeak rate by 50% this is something that I will have to look at again in 6 months time. Fortunately, Octopus provides me with very detailed 30 minute usage information so the calculation takes just a few minutes.

Swipe

[Deleted User] said:

Klouise12 said:

I know a lot are saying to stay put and go on the standard tariff once your tariff is up however is that still the best case for electric drivers? I’m with British Gas and I have a cheaper rate off peak hrs to charge the car and the fixed tariff runs out at the end of this month, if I don’t change tariffs they’ll put me on a standard tariff where it’s just a standard rate 24hrs a day…has anyone changed tariffs yet where it is cheaper to move tariffs or not?

However, as my supplier has just increased its Offpeak rate by 50% 

Wow, I guess these EVs aren't looking so great all of a sudden

[Deleted User]

Swipe said:

[Deleted User] said:

Klouise12 said:

I know a lot are saying to stay put and go on the standard tariff once your tariff is up however is that still the best case for electric drivers? I’m with British Gas and I have a cheaper rate off peak hrs to charge the car and the fixed tariff runs out at the end of this month, if I don’t change tariffs they’ll put me on a standard tariff where it’s just a standard rate 24hrs a day…has anyone changed tariffs yet where it is cheaper to move tariffs or not?

However, as my supplier has just increased its Offpeak rate by 50% 

Wow, I guess these EVs aren't looking so great all of a sudden

How so? The new cheap rate is 7.5p/kWh which across the year gives an average range of 3 miles for my particular EV model - or a cost of 2.5p per mile. Looking at my local petrol station, a petrol car which averages 50 miles per gallon would cost 11p per mile. That said, I would agree that cost of public charging is fast eliminating one of the EV’s main selling points.

emmajones1976

Octopus do an overnight rate for electric cars, take a look on their website.

https://octopus.energy/blog/ev-tariffs/

[Deleted User]

emmajones1976 said:

Octopus do an overnight rate for electric cars, take a look on their website.

https://octopus.energy/blog/ev-tariffs/

Prices increased markedly as of yesterday! Prices for my region:

emmajones1976

Oh so its gone from 5p overnight to what now?

EDIT - never mind, just read above. 50%, ouch.

Swipe

emmajones1976 said:

Oh so its gone from 5p overnight to what now?

EDIT - never mind, just read above. 50%, ouch.

That day rate too. Double ouch

Klouise12

So My peak rate is 19p off peak is 6p and standard charge 25p if I stay with British Gas I think it’s like 35p standard charge 30p on peak and 12p off peak. Octopus seems like a better deal IF they are actually offering that to new customers. British Gas are sending me a letter out with what tariffs they will offer me so I’ll have to see and then maybe speak to octopus to see if they can offer me a better deal. Just really unsure on what is the best thing to do if it’s just just stay in standard tarif of 25p rate accross the 24hrs 

chris1973

[Deleted User] said:

Swipe said:

[Deleted User] said:

Klouise12 said:

I know a lot are saying to stay put and go on the standard tariff once your tariff is up however is that still the best case for electric drivers? I’m with British Gas and I have a cheaper rate off peak hrs to charge the car and the fixed tariff runs out at the end of this month, if I don’t change tariffs they’ll put me on a standard tariff where it’s just a standard rate 24hrs a day…has anyone changed tariffs yet where it is cheaper to move tariffs or not?

However, as my supplier has just increased its Offpeak rate by 50% 

Wow, I guess these EVs aren't looking so great all of a sudden

How so? The new cheap rate is 7.5p/kWh which across the year gives an average range of 3 miles for my particular EV model - or a cost of 2.5p per mile. Looking at my local petrol station, a petrol car which averages 50 miles per gallon would cost 11p per mile. That said, I would agree that cost of public charging is fast eliminating one of the EV’s main selling points.

You seem to have missed off the future VAT and Duty whammy in your Electric Charging cost comparison!!

You really aren't expecting the Government to just cheerfully wave goodbye to over £30 billion in fuel duty and tax revenue are you?- did you seriously buy in to that expectation?.

Remove the double bubble of 20% Vat and 57p per litre in Duty on Diesel and then compare the pre-tax cost of a litre of Diesel directly from the refinery with your Electricity - does it look as rosy?. Diesel is heavily taxed, Electricity isn't - to compare like for like, then you need to add taxes to Electricity or remove them from diesel - common sense.

How about increasing the VAT from 5% to 20% on the Electricity used to charge your car, and then another 30p per KWh 'duty' to the Electricity cost. How does that compare with the current cost of running against a diesel?

I think its fairly obvious VAT and some kind of duty will be added to Charging rates, even domestically. No Government is going to just wave goodbye to all of the lovely tax, duty and congestion charges when everybody is using EV's.

I reckon once the tax and duty fairy has paid a visit then domestic charging rates will eventually become 35p - 40p KWh and charging at motorway services will be £1 - £1.25 per Kwh - no different than the cost comparison of buying fuel from Services compared to buying it from a Town.

Currently we are in a bait and switch period just like we were when diesel was a 'thing'. Lull the plebs over with thoughts of cheap motoring, then BAM - double bubble VAT and Duty. Rinse and Repeat.

The fact that you don't appear to even see this as a possibility in the future, proves somewhat that their strategy is working.

I predict in 10 - 15 years time, motorists nattering around the charging points, reminiscing fondly about how much cheaper to run those petrol and diesel cars were.

savers_united

chris1973 said:
You seem to have missed off the future VAT and Duty whammy in your Electric Charging cost comparison!!

You really aren't expecting the Government to just cheerfully wave goodbye to over £30 billion in fuel duty and tax revenue are you?- did you seriously buy in to that expectation?.

Remove the double bubble of 20% Vat and 57p per litre in Duty on Diesel and then compare the pre-tax cost of a litre of Diesel directly from the refinery with your Electricity - does it look as rosy?. Diesel is heavily taxed, Electricity isn't - to compare like for like, then you need to add taxes to Electricity or remove them from diesel - common sense.

How about increasing the VAT from 5% to 20% on the Electricity used to charge your car, and then another 30p per KWh 'duty' to the Electricity cost. How does that compare with the current cost of running against a diesel?

I think its fairly obvious VAT and some kind of duty will be added to Charging rates, even domestically. No Government is going to just wave goodbye to all of the lovely tax, duty and congestion charges when everybody is using EV's.

I reckon once the tax and duty fairy has paid a visit then domestic charging rates will eventually become 35p - 40p KWh and charging at motorway services will be £1 - £1.25 per Kwh - no different than the cost comparison of buying fuel from Services compared to buying it from a Town.

Currently we are in a bait and switch period just like we were when diesel was a 'thing'. Lull the plebs over with thoughts of cheap motoring, then BAM - double bubble VAT and Duty. Rinse and Repeat.

The fact that you don't appear to even see this as a possibility in the future, proves somewhat that their strategy is working.

I predict in 10 - 15 years time, motorists nattering around the charging points, reminiscing fondly about how much cheaper to run those petrol and diesel cars were.

Good points made and there will come a point in time when revenue from petrol and diesel fall heavily and action is needed to boost the coffers. 

I have bought into an EV now because I don't see these changes any time soon, I give it 8-10 years, we have a ban on new Petrol & Diesel sales coming in 2030, there are still by that point going to be lots & lots of ICE vehicles still on the roads but no options to buy / lease new. There will then be a phased approach by first increasing the BIK tax on business users and then commercial charging stations. I don't think we will see it domestically, instead by that point we will have some kind of charge per mile using GPS or other camera recording methods. So rather than focus on charging for the amount of pollution, will focus on road use and wear.

I am saving around £1200 a year on fuel costs, it will depend on the price of electric going forward but if I can get 5 or 6 years of these savings I'll be happy. By which point the cost of a new EV should have fallen to offset the increased running costs.