One of the main motivations for switching to an electric car is that they can massively reduce your day-to-day running costs. Recharging a battery can cost a lot less than filling a fuel tank, after all. Yet working out the most cost-effective way of recharging an EV can be complex enough to make your head spin. It’s simplified at home, though, if you switch to one of the best EV tariffs.
We’ve looked at the various domestic electricity tariffs that are specifically aimed at electric car owners to come up with what we think are the five best options. Below, we’ve explained how we calculated the figures behind our rankings and some of the pertinent questions you might have about the value of the best EV tariffs.
Are EV charging tariffs worth it?
Most electric car owners charge up at home most of the time, using a domestic wallbox EV charger. That’s because it’s more cost-effective and reliable than the UK’s patchy public charging infrastructure, and because most people don’t drive far enough in a typical day for their car to need recharging when they’re out and about.
Charging at home may be cheaper than using public chargers but, at a time when energy prices are still rising sharply, the costs can quickly mount up. Switching to an energy tariff specifically designed for EV owners can reduce costs further.
They’re not dissimilar to Economy 7 tariffs, in that you’re charged a significantly reduced price per kilowatt hour of electricity used during off-peak hours. Indeed, the costs are so low that, if you recharge entirely at home, you may only spend £200 or so a year on electricity for your EV.
What is the best charging regime for an EV?
The type of lithium-ion battery fitted to every electric car currently on sale in the UK shouldn’t really be fully recharged every time. Do that and it’ll lose capacity and efficiency relatively quickly.
Not to say you should never fully recharge the battery, but pulling the plug out when its recharged to 80% of its capacity will help preserve its life. Something that’s worth doing as replacing an EV’s battery can be extremely expensive.
What is the most cost-effective way to charge an EV?
Recharging at home is by far the most cost-effective way of charging an EV. Public chargers cost a lot more to use, indeed in some cases they’re more expensive than petrol or diesel. Home charging can be even more affordable if you have an electricity tariff that charges lower rates during off-peak hours.
Which energy companies offer EV tariffs?
Seven energy companies currently offer EV tariffs in the UK: Ovo Energy, Octopus Energy, British Gas, E.ON, EDF, Good Energy and Scottish Power. The last two aren’t included in our ranking of the best EV charging tariffs but, if you’re an existing customer or they’re available in your area, they’re worth looking into.
Note that there are no energy tariffs currently available just for EV charging. All the ones that are available include all your energy usage.
How we calculated our figures
The figures we’ve used to rank the best EV charging tariffs are based on some very broad assumptions, but they’re representative of a lot of EV owners’ circumstances.
We’ve benchmarked against a typical electric family car that covers 9,000 miles a year and gets through the battery’s charge at a rate of 3.5 miles per kWh. That’s 25 miles per day using 7kWh of electricity, on average. The car’s energy consumption in a year totals 2,571.43kWh.
We’ve also factored in the household’s energy usage. According to Offgem, the average household with a dual-fuel tariff gets through 2,900kWh of electricity and 12,000kWh of gas. Electricity costs an average of 27.35p per kWh and gas is 6.89p per kWh.
These are the figures presented in our analysis:
- The hours that electricity is available at the off-peak rate.
- The amount of charge that can theoretically be added to an EV’s battery in that time from a typical 7.4kW wallbox.
- The cost of electricity at peak and off-peak rates, per kWh.
- They energy company’s daily standing charge.
- The annual cost of the 2,571.43kWh of electricity our benchmark EV consumes.
- The total annual cost of the household’s energy, including EV charging.
Because our figures are based on assumptions and averages, we recommend that you get a personal quote from the energy companies highlighted here before switching your tariff.
The best EV charging tariffs
Offers the best all-round package
This will be the most convenient deal for many people. It’s available to new and existing customers on a dual-fuel or electric-only basis and there are no restrictions on the types of car and charger it’s compatible with.
The standing charge is the lowest here, but the off-peak rate is the second highest. Still, the rates are fixed until 31 January 2025, which takes some of the sting out. You can also use the off-peak rate for all your household appliances. The off-peak hours add 130 miles of range to our benchmark EV, more than enough to cover most people’s daily needs.
Pros
- No car or charger restrictions
- Available to new and existing customers
- Rates are fixed
Cons
- There are cheaper deals available
- Off-peak hours could be longer
Long off-peak hours ideal for high mileage drivers
This is most expensive tariff across all our metrics, albeit only by about £6. Still, why have we placed it so high? Because the seven hours of off-peak energy you get equates to as much as 180 miles of range added to our benchmark EV’s battery. So it’s the best choice if you rack up a lot of miles.
On top of that, rates are fixed for one year, it’s compatible with all electric cars – and plug-in hybrids – and chargers. It’s available to new and existing customers, as well, though only on a dual-fuel basis.
Pros
- Seven hours of off-peak charging
- Rates fixed for one year
- New and existing customers welcome
Cons
- The most expensive tariff here
- Only available to dual-fuel customers
Give the flexibility to charge at any time
This tariff doesn’t have off-peak hours in the usual sense. Instead, you plug in your EV, then use the app to instruct it to recharge when electricity is cheapest. Ovo will initially charge you at the full rate, but the discount for EV charging is credited back to your account.
Both the peak and off-peak rates are conspicuously low, so this deal works out nearly £30 per year cheaper than any of the others highlighted here. On the downside, it’s only available to existing customers, it’s not compatible with every EV and only works with Ohme and Indra chargers.
Pros
- Off-peak rate available all day
- Lowest costs per kWh
- Works with a clever app
Cons
- Existing customers only
- Restricted to certain cars and chargers
Offers the best all-round value
This is another deal that applies the lower off-peak rates to every appliance in your house, not just the EV charger. So it’s excellent value, despite decidedly average-looking unit costs; indeed, it’s the second-cheapest deal here.
Unfortunately, you need the right car and charger, and be an existing EDF customer to get the deal. The rates aren’t fixed, either. Oddly, the off-peak hours shift to 01:00 to 06:00 during summer.
Pros
- Off-peak rate applies to all appliances
- Second-cheapest deal here
- Long-ish off-peak hours
Cons
- Car and charger compatibility issues
- Existing customers only
Ideal for bargain hunters
This is another tariff that recharges your car when electricity is cheapest. You just plug the car in, enter how much charge you need on the app, and the charger kicks in automatically. You’ll never be charged more than 7.5p per kWh, even if the actual cost of electricity exceeds that on a particular day.
Sounds great, but there are complications. It’s an electric-only tariff so, if you need gas, you’ll have to sign up to a separate tariff (which Octopus can provide). And they are tight restrictions on which chargers are compatible.
Pros
- Recharges when electricity is cheapest
- Low off-peak rate
- Useful app
Cons
- Limited charger compatibility
- Separate gas tariff needed
