EV Tariffs is it worth it?

keithattwood

I wish to express my confusion and concern regarding the increased charges (per KW) to the main daily tariff when signing up for a tariff for Electric Vehicles (EVs).

As someone who is interested in reducing their carbon footprint and supporting the transition towards a cleaner energy future, I have just purchased an EV. However, I am struggling to understand how this is financially viable given that EV tariffs are supposed to be cheaper.

It seems counterintuitive to me that the tariffs for EVs would be decreasing, while the main daily tariff is increasing. Can anyone please provide some clarification on how this is possible?

This is a link to a comparison site (https://lovemyev.com) that shows I can make over £800 in savings on my bill.

I only do about 3000 miles a year I normally use solar energy during the day for cooking, dishwashing, and washing clothes, and I am hoping to see if I can top up the car.

So, it begs the question, in my case is an EV tariff worth it?

I believe that reducing our dependence on fossil fuels and promoting the use of cleaner forms of transportation is essential for a sustainable future. However, it is important that these initiatives are also financially feasible for individuals and families.

peter3hg

It entirely depends on your normal usage compared to your EV usage. With that milage presumably you'll be using somewhere around 800 kWh a year charging the car.
Looking at Octopus Go as an example, the break even point is about 30% of total usage in the cheap slot, so if your normal usage without the EV was 1,875 kWh or lower then your would be better off with the EV tariff. If your normal usage was higher than 1,875 kWh then you would be better remaining on the standard tariff.

dunstonh

I wish to express my confusion and concern regarding the increased charges (per KW) to the main daily tariff when signing up for a tariff for Electric Vehicles (EVs).

Multi-rate pricing has always had a see-saw effect on the rates.   ie. any you get cheaper during one period will see others higher by a relatively similar ratio.    i..e if you had a see-saw, then the more you push down on one side, the more it goes up on the other.

As someone who is interested in reducing their carbon footprint and supporting the transition towards a cleaner energy future, I have just purchased an EV. However, I am struggling to understand how this is financially viable given that EV tariffs are supposed to be cheaper.

We have a  PHEV rather than an EV.     We are on economy 7, which gives 7 hours of off-peak pricing, currently 7p per kWh.  This is better than many car specific tariffs as we can make use of the 7 hours with other devices.   However,  they are all variations of the same theme

It is easily justifiable as the cost of electricity needs to around 28p or less per kWh for it to be better than petrol.

It seems counterintuitive to me that the tariffs for EVs would be decreasing, while the main daily tariff is increasing. Can anyone please provide some clarification on how this is possible?

It is counterintuitive that you expect to get cheaper peak and off peak.  A bit like having your cake and eating it.  The idea is to encourage you to shove more use into the off peak period.     This is when electricity is cheaper to suppliers (in most regions - however the differences can vary a lot across the regions).

So, it begs the question, in my case is an EV tariff worth it?

A question that can only be answered by you telling us your usage in the peak/off peak periods.

[Deleted User]

As indicated above, your choice of tariff depends on your annual usage and your usage profile. 

I have a solar array; battery and EV. During the past Winter, I have been on Octopus Go Faster which offered me 5hours a day at 8.25p/kWh. I charged the battery during these period as well as my EV. 

With longer days, I have switched to Octopus’ new tariff Flux. This offers three import and export rates with a maximum export rate of 40p/kWh during the 4 to 7pm period.

When we reach Autumn again, I will look again at what EV tariffs are available. 

keithattwood

peter3hg said:

It entirely depends on your normal usage compared to your EV usage. With that milage presumably you'll be using somewhere around 800 kWh a year charging the car.
Looking at Octopus Go as an example, the break even point is about 30% of total usage in the cheap slot, so if your normal usage without the EV was 1,875 kWh or lower then your would be better off with the EV tariff. If your normal usage was higher than 1,875 kWh then you would be better remaining on the standard tariff.

My average yearly home usage is 3256.5 kWh, but my solar generation average is about  2445 KW. Not sure what my EV charging will be. So far I have only made completed one charge from 30% approx 90 miles to 80% 211 Miles, this took 38.28 KWs.