Are EV Tariffs Worth It?
Discussion
My current tariff with EDF comes up for renewal soon and having recently taking the plunge with an EV I was considering switching to an EV tariff.
It appears that the "EV friendly" tariffs such as Octopus go give you a super cheap overnight window (eg. 4 hours at 5p/kWh) at the expense of the other 20 hours being much higher (eg. 23.77p/kWh with a standing charge of 18.01p per day). Plus having to have a SMETS2 meter fitted.
My current tariff is 13.06p/kWh with a standing charge of 20.48p per day.
On the face of it, it doesn't seem worth switching. Has anyone switched and actually saved money on their bill overall? Would be interested hear peoples experiences and see the fag packet maths.
It appears that the "EV friendly" tariffs such as Octopus go give you a super cheap overnight window (eg. 4 hours at 5p/kWh) at the expense of the other 20 hours being much higher (eg. 23.77p/kWh with a standing charge of 18.01p per day). Plus having to have a SMETS2 meter fitted.
My current tariff is 13.06p/kWh with a standing charge of 20.48p per day.
On the face of it, it doesn't seem worth switching. Has anyone switched and actually saved money on their bill overall? Would be interested hear peoples experiences and see the fag packet maths.
the problem is the energy market is in chaos and prices for new tarrifs are massive
you will have to work out how much you will use on each tarrif to see if you can save money
i currently use 300kWh on 5p and 400kWh on 14p each month driving 10k a year
you will have to work out how much you will use on each tarrif to see if you can save money
i currently use 300kWh on 5p and 400kWh on 14p each month driving 10k a year
Edited by Dave Hedgehog on Friday 26th November 11:20
Glad I switched to Octopus Go back in May, 15.9p daytime and 5p off-peak.
I think if you're doing enough miles (70+ a day) to do a decent charge most days and you're shifting dishwasher / washing machine use into the off-peak time it can be worth it. Otherwise just stay on variable (which will be capped) and see what's around in spring.
I think if you're doing enough miles (70+ a day) to do a decent charge most days and you're shifting dishwasher / washing machine use into the off-peak time it can be worth it. Otherwise just stay on variable (which will be capped) and see what's around in spring.
sjg said:
Glad I switched to Octopus Go back in May, 15.9p daytime and 5p off-peak.
I think if you're doing enough miles (70+ a day) to do a decent charge most days and you're shifting dishwasher / washing machine use into the off-peak time it can be worth it. Otherwise just stay on variable (which will be capped) and see what's around in spring.
That was my thinking. It feels like the cheap EV tariff ship has sailed. My mileage will be low <6000 per annum. And whilst not a powerfully built director, I don't want to live my life checking the time before I put the dishwasher on.I think if you're doing enough miles (70+ a day) to do a decent charge most days and you're shifting dishwasher / washing machine use into the off-peak time it can be worth it. Otherwise just stay on variable (which will be capped) and see what's around in spring.
48k said:
My current tariff with EDF comes up for renewal soon and having recently taking the plunge with an EV I was considering switching to an EV tariff.
It appears that the "EV friendly" tariffs such as Octopus go give you a super cheap overnight window (eg. 4 hours at 5p/kWh) at the expense of the other 20 hours being much higher (eg. 23.77p/kWh with a standing charge of 18.01p per day). Plus having to have a SMETS2 meter fitted.
My current tariff is 13.06p/kWh with a standing charge of 20.48p per day.
On the face of it, it doesn't seem worth switching. Has anyone switched and actually saved money on their bill overall? Would be interested hear peoples experiences and see the fag packet maths.
You are comparing your soon to expire tariff with the currently available EV tariff, what is the best normal tariff you can achieve at the moment?It appears that the "EV friendly" tariffs such as Octopus go give you a super cheap overnight window (eg. 4 hours at 5p/kWh) at the expense of the other 20 hours being much higher (eg. 23.77p/kWh with a standing charge of 18.01p per day). Plus having to have a SMETS2 meter fitted.
My current tariff is 13.06p/kWh with a standing charge of 20.48p per day.
On the face of it, it doesn't seem worth switching. Has anyone switched and actually saved money on their bill overall? Would be interested hear peoples experiences and see the fag packet maths.
I am on an 8.30pm EV tariff, and only have a PHEV, and 80% of usage is within the off peak period.
Yes fair points - if I do nothing, come 1st January it will default to the standard (capped) variable rate tariff of 20.31p / kWh with a 23.77p standing charge. So 7p per hour and 3p per day more than I'm currently paying, and no need a meter change. Switching to eg. Octopus Go would mean paying 10.7p per hour more and 2.47p per day less plus a meter upgrade, to get the 4 hour cheap charging window at 5p / kWh. So to me it still doesn't feel worth changing to an EV tariff because the 20 hours a day is where the bulk of my usage is. I'm interested to see how others make it work and I realise quoting Octopus Go is a sample size of 1 so keen to hear what other EV tariffs people use.
Even with the latest increases home charging still has a big advantage as public charging prices are going up substantially soon:
https://www.autocar.co.uk/car-news/business-enviro...
The worry - for all of us, not just EV users - is what will happen at the next review of the price cap in March/April. There's talk of huge increases.
https://www.autocar.co.uk/car-news/business-enviro...
The worry - for all of us, not just EV users - is what will happen at the next review of the price cap in March/April. There's talk of huge increases.
I'm on Go Faster (so get 5 hours cheap).
Last bill breakdown:
850kWh @ 5.24p/kWh - £44.50
771kWh @ 13.14p/kWh - £101.40
So overall I paid 9.00p/kWh, which is really rather good.
If the day rate goes up to 23p, but the night rate stays the same (which is what seems to be happening) I would have paid:
850kWh @ 5.24p/kWh - £44.50
771kWh @ 23.00kWh - £177.33
Which would be 13.68p/kWh, which is still pretty good.
As you can see, a significant proportion of usage is shifted to the cheap hours, but there's quite a financial incentive to do so.
Last bill breakdown:
850kWh @ 5.24p/kWh - £44.50
771kWh @ 13.14p/kWh - £101.40
So overall I paid 9.00p/kWh, which is really rather good.
If the day rate goes up to 23p, but the night rate stays the same (which is what seems to be happening) I would have paid:
850kWh @ 5.24p/kWh - £44.50
771kWh @ 23.00kWh - £177.33
Which would be 13.68p/kWh, which is still pretty good.
As you can see, a significant proportion of usage is shifted to the cheap hours, but there's quite a financial incentive to do so.
48k said:
Yes fair points - if I do nothing, come 1st January it will default to the standard (capped) variable rate tariff of 20.31p / kWh with a 23.77p standing charge. So 7p per hour and 3p per day more than I'm currently paying, and no need a meter change. Switching to eg. Octopus Go would mean paying 10.7p per hour more and 2.47p per day less plus a meter upgrade, to get the 4 hour cheap charging window at 5p / kWh. So to me it still doesn't feel worth changing to an EV tariff because the 20 hours a day is where the bulk of my usage is. I'm interested to see how others make it work and I realise quoting Octopus Go is a sample size of 1 so keen to hear what other EV tariffs people use.
You are going to use about 8.5 kWh per car using day, so maybe 166kWh a month (20 days) Thats a £31 difference between GO and the Variable just from car usage and standing charge. You would need to use over 895kWh in the peak period per month to make the normal tariff be cheaper. Thats 30kWh a day.
Please someone double check my maths.
I am on a tariff called Go Faster, the off peak rate is from 20.30 - 01.30, this is when 80% of my overall usage is, I frequently cook my dinner in this time, am not always home in the day time, am watching TV at this time, and run the big appliances in this time.
Yeah i luckily switched in May/June to Go and am reaping the benefits.
We don't do a lot of miles (suspect 700 in the month) but stick the dishwasher on during 5p rates too.
I suspect an EV tariff is still useful; but you need to be doing the miles to make the most of the times. It's shouldn't be too hard to work it out.
Look at your forecasted monthly mileage, work out an average "efficiency" ( i chose 3.4 mKwh as it matches my heavy right foot) do the simple math to attain your kwh of charge you are likely to use.
700 miles a month = 205 kwh of "charge" @ whatever rate.
You know what you use now as an estimated monthly general kwh usage etcetc
caveat - slightly drunk but i think i'm right
We don't do a lot of miles (suspect 700 in the month) but stick the dishwasher on during 5p rates too.
I suspect an EV tariff is still useful; but you need to be doing the miles to make the most of the times. It's shouldn't be too hard to work it out.
Look at your forecasted monthly mileage, work out an average "efficiency" ( i chose 3.4 mKwh as it matches my heavy right foot) do the simple math to attain your kwh of charge you are likely to use.
700 miles a month = 205 kwh of "charge" @ whatever rate.
You know what you use now as an estimated monthly general kwh usage etcetc
caveat - slightly drunk but i think i'm right
It will certainly be interesting to see what mileage I end up doing. I've not had a car for three months, and I work from home so hardly leave the house at the moment. The car is leased + insured for 6000 miles per annum which was the lowest figure I could get. Last 12 months leccy usage was just over 8800kWh.
Mikehig said:
The worry - for all of us, not just EV users - is what will happen at the next review of the price cap in March/April. There's talk of huge increases.
From some recent rough maths when I considered switching our EV and going back to ICE, it would need to be over 50p/kWh before it's price per mile comparable with a 45mpg diesel at £1.45/Lagent006 said:
Mikehig said:
The worry - for all of us, not just EV users - is what will happen at the next review of the price cap in March/April. There's talk of huge increases.
From some recent rough maths when I considered switching our EV and going back to ICE, it would need to be over 50p/kWh before it's price per mile comparable with a 45mpg diesel at £1.45/LTo the OP you've said a few times that an EV tariff will need a meter change. I read that as you think it'll cost you. It doesn't... at least not directly.
Yes, we the consumer are paying for all the meters in our energy bill, but no, when they fit you a smart meter (it's not smart, at all), it costs you nothing, not even the fitting.
Yes, we the consumer are paying for all the meters in our energy bill, but no, when they fit you a smart meter (it's not smart, at all), it costs you nothing, not even the fitting.
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