Energy tariffs and an EV friendly tariffs

Rom70

Good afternoon everyone.

I've got a couple of questions I’d like advice with regarding the above. 

1) We have been switched to Shell Energy because my supplier went bust last year. Can I move to another supplier without charge as I didn’t pick this supplier? 

2) We don’t have Smart Meters yet but I’m thinking about getting them. Can I get them ordered now through Shell even if im thinking about going to another supplier? 

3) Are there any suppliers offering decent EV tariffs at the moment or am I better holding on for a while? 

Thanks for any help.

Chris

[Deleted User]

Yes; yes, and look at Octopus Go/Go Faster. Whether an EV tariff will work for you depends to a large extent on your peak/offpeak usage.

For example, in recent months, the offpeak cost for Go has increased by 50% and the peak price has more than doubled. As more people turn to EVs, I believe that we will see the cost of EV charging at home increasing. It is simple demand versus supply issue.

Petriix

I recently did a similar switch after ending up with British Gas after my supplier went bust. BG fitted the smart meter within a couple of weeks of me joining. Then I was able to switch to Octopus Go - luckily I got the older 5p/24p rates as I was mid-switch when they increased their prices.

I had to spend 2 days on 37p per kWh while I waited to go onto Go. Not too bad really and my price is now fixed until 2023.

MWT

Rom70 said:

2) We don’t have Smart Meters yet but I’m thinking about getting them. Can I get them ordered now through Shell even if im thinking about going to another supplier? 

Definitely do this.

Last thing you want is to move to another supplier for an EV tariff then get stuck on an expensive normal tariff while you wait for the meters to be installed.

Rom70

Thanks for the replies everyone. 

I contacted Shell about getting the Smart meter(s) installed. I’ll have to wait until
then and see what price Octopus are charging at that time. 

I hope I haven’t made a mistake getting my first EV 

Rom70

I’ve checked Octopus Go and the rates now are:

04:30 - 00:30 - 30p
00:30 - 04:30 - 7.5p 

And this is before the April price cap rise. 

My electric with Shell Energy is 19p - again, before the April rise. 

Still a good idea to go with an EV? It’s ordered now so I hope so but I’m having second thoughts 

QrizB

Rom70 said:

I’ve checked Octopus Go and the rates now are:
04:30 - 00:30 - 30p
00:30 - 04:30 - 7.5p

And this is before the April price cap rise.

Octopus Go is not subject to the Ofgem cap. It is a 12-month fixed tariff.

Rom70 said:

My electric with Shell Energy is 19p - again, before the April rise.

Your electricity with Shell is over 20p/kWh; I think you've forgotten to add VAT. It can be expected to increase with the cap in April, at which time it could end up being more expensive than the current Go day rate.

Rom70 said:

Still a good idea to go with an EV? It’s ordered now so I hope so but I’m having second thoughts 

Even on the Go rate of 30p/kWh a typical EV will be costing you 8-10p/mile for fuel. That's an equivalent price to getting 70-90 mpg in an ICE.

lohr500

@Rom70, which EV have you ordered and does the specification give an estimate kWh per mile figure?
If you know the usage per mile and look at the EV tariff prices, you can then compare the EV cost per mile with petrol or diesel vehicles. This will only compare the "fuel" costs, not any other benefits or disadvantages of going electric. (Possible lower servicing costs, higher depreciation?, etc)

The other thing to consider is your daily mileage and the maximum rate at which you can charge through a home EV charging point. If you are doing a high daily mileage you may not be able to recharge the vehicle sufficiently in the 4 or 5 hour off peak window provided by many of the EV tariffs. This will depend on what output home charge point you are going to have installed. 

Rom70

I’ve ordered a Nissan Leaf. 

Since my last post a few minutes ago I’ve had more bad news. Shell energy can’t / won’t fit me a smart meter which means I can’t swap to a dual tariff supplier such as Octopus. 

Keep_pedalling

Rom70 said:

I’ve checked Octopus Go and the rates now are:

04:30 - 00:30 - 30p
00:30 - 04:30 - 7.5p 

And this is before the April price cap rise. 

My electric with Shell Energy is 19p - again, before the April rise. 

Still a good idea to go with an EV? It’s ordered now so I hope so but I’m having second thoughts 

Even with the big price hike in electricity your fuel costs are still going to be lower with electricity, but whether it will still be worth moving to an EV tariff will really depend on your mileage and overall electric use. I am currently on Go but my contract runs out in April so I have to wait till nearer the time to see what the best option is.

I only do about 9-10k per year in my EV, but 40% of my electricity consumption is on the cheap rate. On the rates you quote above my average rate on Go would rise from 10.7p to 21p so I would be slightly better off on the standard tariff, but if by April the SVR goes up more that Go does, it will probably be the other way round.

Rom70

I spoke to Octopus and they have a lead time of at least 6 months for fitting a Smart meter so I’ve had to contact the lease company and cancel my order