Home EV Charging Costs Drop – But Drivers Can Lower Them More

EV drivers can make even greater savings than the newly-announced forthcoming electricity price reductions, says Ohme, a smart charging company. Today, the market authority Ofgem announced that the Standard Variable Tariff for domestic electricity rates would be lowered to 30p/kWh from July 1. The reduction is down from the current 34p/kWh which has been in place since October of 2022.
Home EV Charging Costs Drop – But Drivers Can Lower Them More
Courtesy of Ohme

While the news will be welcomed by EV drivers keen to reduce their charging costs, Ohme is encouraging those same drivers to make even greater savings by switching to an off-peak EV tariff such as those from Octopus or Ovo.

“It’s great that the Standard Variable Tariff is being lowered which will help EV drivers to reduce their charging costs,” says Ohme CEO, David Watson. “However, drivers can lower their bills further still by speaking to their existing electricity supplier and finding out if they offer an off-peak tariff. If their energy provider doesn’t offer an off-peak tariff, then they should consider switching to one that does, to get the full savings of running an EV.”

With the average UK driver covering 6800 miles a year, charging on an off-peak tariff in a typical EV would cost just £127.50 for a year’s worth of driving with Octopus Intelligent at 7.5p/kWh. At the new Standard Variable Tariff of 30p/kWh, that same annual mileage would cost £510. By comparison, the same mileage in an equivalent petrol car would cost a driver more than £1100.

Ohme’s Home Pro smart charger can connect with the national grid in real time and automatically adjust its charging for drivers to take advantage of all the times of low price charging with smart off-peak tariffs. Ohme also offers drivers the option to charge their car when renewable energy generation on the National Grid is at its highest, further lowering their CO2 impact.

Ohme is the official charger provider for the Volkswagen Group in the UK and Ireland as well as customers on the Motability scheme, the largest UK fleet operator in the UK, and has been named as the Best Electric Charging Point Provider by Business Motoring.


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