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.
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.
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.
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.
phil4 said:
To 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.
Sorry that you read it that way. I'm aware there is no charge for the meter upgrade. I already have a SMETS1 meter, I think tariffs like eg. Octopus Go need a SMETS2 meter. It was just an observation of something that would need doing in order to be able to get the tariff, I can't just click a button and switch.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.
Blue Oval84 said:
OP - does your current SMETS1 meter work and speak to EDF, or was it fitted by a previous supplier and not work?
If it does work, then one thing to consider is asking them for ECO2020 on the Standard (Variable) price cap tariff. It's basically the same pricing structure as one of their EV tariffs (off peak 9pm to 7am weeknights and 9pm Friday to 7am Monday) but on the price cap rate instead.
Absolutely do not ask to be put on the EV tariff as this will be much higher than the price cap rates as it will reflect actual costs to them, rather than the cap.
Assuming you can move your energy intensive stuff to after 9pm, or the weekend, then it may work out better than regular one rate price cap.
Once we get to the new price cap in April 2022, re-assess the market and you'll likely find deals available below the price-cap (or switch directly to the EV version if it's well priced)
The meter was fitted years ago it doesn't talk to EDF. The ECO 20:20 tariff is not available anymore anyway (according to my new friend Kushoo on webchat). These are my only options:If it does work, then one thing to consider is asking them for ECO2020 on the Standard (Variable) price cap tariff. It's basically the same pricing structure as one of their EV tariffs (off peak 9pm to 7am weeknights and 9pm Friday to 7am Monday) but on the price cap rate instead.
Absolutely do not ask to be put on the EV tariff as this will be much higher than the price cap rates as it will reflect actual costs to them, rather than the cap.
Assuming you can move your energy intensive stuff to after 9pm, or the weekend, then it may work out better than regular one rate price cap.
Once we get to the new price cap in April 2022, re-assess the market and you'll likely find deals available below the price-cap (or switch directly to the EV version if it's well priced)
Also, zero chance of "moving energy intensive stuff to after 9pm" - 9pm is bedtime in this house!
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