Electric car energy tariffs are for customers with electric vehicles and at-home charging points, and generally come in two variations.
The first type of electric car tariff is a Two-Rate Tariff, which offers distinct rates for charging during the day vs chagrin overnight, hence the name ‘two-rate’. Charging that takes place overnight is lower-cost and can be a great option to combat the recent increase in energy prices, as it generally works out cheaper than a flat-rate tariff.
This brings us on to the second type of electric car energy tariff, which is a Single-Rate Tariff. This is where you are charged a flat rate for energy, regardless of whether you are charging your vehicle during the day or overnight.
If you already own an EV and at-home charging point, you will be able to access these energy tariffs and choose the one best suited to you. If you are considering purchasing an EV or at-home charging system and require more information on the chargers themselves, check out our charger comparison tool or speak to a member of our team for advice.
How do I find the cheapest electric car Energy Tariff?
We always advise taking the time to work out the cheapest energy tariff, rather than settling and paying more than you need to. Tariffs are also a moving target, especially with the recent energy crisis meaning few tariffs are available than usual.
The most cost-effective tariffs are likely to be Two-Rate Tariffs, and you can use some rough calculations to work out which is the cheapest.
- To figure out your vehicle’s electricity usage, you’ll need to know how many kWh it will take to charge your car for the number of miles you’re wanting to travel.
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How do i get an electrical Car Tariff?
Most suppliers will only allow you to switch your tariff to an electric vehicle tariff if you are an existing customer. If you are an existing customer, switching to an EV tariff should be pretty straightforward; just remember you will need to provide a smart metre reading, so ensure you have a smart metre installed before trying to change your tariff.
For those looking to get an EV tariff with a new provider, the process is a little more time-consuming. First, you will need to sign up to the provider on a normal energy tariff. When you sign up, ensure you select one of the cheapest deals as you wont be on this plan for long! Once you are all signed up you will need to book in for a smart metre installation so that you can provide a metre reading when you switch to an EV tariff. As soon as your provider is receiving these smart metre readings you can request to be moved across to your new EV tariff.
Electric Car Tariff FAQs
We always recommend working out the predicted cost of switching from your regular energy tariff to an EV tariff. However, generally speaking, an EV tariff will be more cost-effective as it will allow you to charge at times when energy is cheaper i.e. overnight.
Simply put, a Single-Rate Tariff means you pay a flat rate for energy, regardless of the time. By comparison, a Two-Rate Tariff charges a lower fee for overnight charging.
The latest reports show that between midnight and 7 am is the cheapest time to charge your EV. Of course, costs will differ from provider to provider but, generally speaking, these are non-peak hours and would therefore be more cost-effective.
Based on reports that came out in January this year, the average price of electricity per kWh is 34p, and the general consensus is that a standard electric vehicle will cost around £12.50 per day to charge.
Installing an EV charger can cost anywhere between £500 and £2,000, depending on the installation service provider. Some installations are part of a bundle alongside the charger itself while others are separate services.
The lifespan of your EV charger will depend on its usage and care, however chargers typically last for around ten years.
Other Services We Offer
At Mayday Electrical we offer a vast range of electrical installation services, including EV charger installations. If you would like to speak to a member of our team about any of the following services (or just for some friendly advice) please contact us today.
