As EV adoption grows across the UK, more households are looking for ways to reduce charging costs and avoid rising petrol prices. EV charging costs vary widely depending on your electricity tariff structure. This guide explores how you can save money when charging your EV.
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A quick checklist to unlock cheaper EV charging
- Do you own an EV?
- Do you have a smart meter installed?
- Can you charge your car overnight?
- Is your EV charger compatible with smart charging?
- Have you compared EV tariffs across suppliers?
EV tariffs are a type of time-of-use energy tariff designed specifically for EV owners. Instead of paying a flat rate for electricity, these tariffs offer lower unit rates during off-peak hours, typically overnight, when demand on the grid is lower. This means you can charge your EV at a significantly reduced cost compared to standard single-rate tariffs. For many households, this makes running an EV far cheaper than relying on petrol or diesel. One thing to note is that certain EV tariffs may require you have specific EV and charger models.
Understanding time-of-use pricing
Wholesale electricity prices fluctuate throughout the day. Peak times, such as early evenings between 4pm and 7pm, tend to be more expensive, while off-peak periods, usually overnight, are much cheaper. By shifting your car battery charging to these cheaper periods, your supplier can provide you with cheaper energy, allowing you to take full advantage of EV tariffs and reduce your overall energy bill.
The role of smart meters
Most EV tariffs require a connected smart meter. They record your electricity usage in real time, allowing your supplier to apply different rates depending on when you use energy. Without a connected smart meter, it is usually fairly difficult to accurately bill time-of-use tariffs, which is why most EV tariffs require one.
When evaluating EV tariffs, it's important to look beyond just the off-peak rate.
Unit rates and charging costs
The main benefit of EV tariffs comes from lower off-peak unit rates. Charging your electric vehicle overnight can cost significantly less per kWh than charging during the day. However, daytime rates are often higher than standard tariffs. If you cannot shift enough usage to off-peak hours, your overall bill may increase. Fuse Energy doesn't offer a dedicated EV tariff, but our dual-rate variable tariff gives you the same lower rates during off-peak periods.
Standing charges and total cost
The standing charge still applies on EV tariffs and can vary between suppliers. A tariff with a very low overnight rate but a high standing charge may not be the cheapest overall. This is why a full energy comparison, based on your actual usage, is essential when you compare energy prices.
Eligibility
Some EV tariffs require you to have specific EV and charger models. Fuse Energy doesn't offer a dedicated EV tariff, but we do offer a dual-rate variable tariff with the same lower rates during off-peak periods. To be eligible you just need a dual-rate compatible meter - there's no EV or charger model requirement. The off-peak rates apply across your entire household during a 7-hour window from 12:30am to 7:30am, so you can schedule your EV and other appliances to run then.
Fuse Energy offers a smarter alternative to traditional EV tariffs. Rather than a dedicated EV tariff, we offer a dual-rate variable tariff with the same lower rates during off-peak periods, applied to your usual household usage, not just when charging. Our pricing is fully transparent (VAT included) with quarterly-updated rates in line with the Ofgem energy price cap. With seamless app-based charging control, real-time half-hourly usage insights, and fast 24/7 human customer support with fast response times of under 5 minutes, Fuse makes managing your energy simple. Click here to switch to Fuse Energy in as little as 3 minutes and find out about our mission by clicking here.
What is an EV tariff and how does it work?
An EV tariff is an electricity plan that offers different unit rates for different times of the day, known as time-of-use (ToU) pricing. It works by providing a drastically reduced unit rate, usually overnight, to encourage EV owners to charge when demand on the national grid is low, leading to substantial savings.
Why might I not be eligible for the cheapest EV tariffs?
Ineligibility usually stems from one of two requirements: you do not have a connected SMETS2 smart meter, or your specific EV model or home charger is not on the supplier's approved compatibility list for their smart-scheduled tariffs. These smart-scheduled tariffs require a connected device to allow the supplier to control the charging process.
How can I switch to Fuse Energy?
Switching to Fuse Energy is simple and can be done in as little as 3 minutes by completing the online onboarding process here.
