The best EV energy tariffs for 2024

A major benefit of owning an electric car is the ability to shop around for fuel from the comfort of your home. There is no driving to the next petrol station in the futile hope of cheaper fuel prices or that rage-building drive past pumps 5p a litre cheaper than what you just topped up at the station down the road. 

An electricity tariff tailored to electric cars with bargain nighttime charging rates is the remedy to keep soaring fuel costs under control. Being able to say if I drive this many miles and can charge this amount during my off-peak rates at home and at this price per unit of electricity (kWh) precisely is a stable budgeting technique preventing any nasty surprises.

So, can you take advantage of any electric car energy supplier tariffs at home? The answer is ‘yes’!

We've scoured the internet and analysed various sources to bring you the most accurate and up-to-date information.

What are electric vehicle energy tariffs?

EV tariffs are aimed at electric vehicle drivers who want to charge their cars at home at the lowest cost per kWh possible.

These tariffs are designed to offer cheap overnight charging, usually between midnight and 6 am. 

Source: Ofgem.gov.uk

Types of EV tariffs

Generally speaking, there are three types of EV tariffs available on the market:

• Single-rate tariff – you pay the same unit price throughout the day. However, you get a discounted rate if you have an electric car.
• Two-rate tariff – this is the more common tariff with two different electricity rates, regardless of whether you have an EV (although some providers may have a cheaper EV rate). This means you have a much cheaper rate at night, and you can take advantage of it for all of your household appliances (washing machine, dishwasher etc).
• Two-rate tariff (EV specific) – most suppliers will offer a specific tariff to cater to EV drivers. This will be at a much cheaper nighttime rate than a traditional two-rate tariff.

Will an EV increase my energy bill?

Yes and no… let me explain. It’s normal to pay more on your electricity bill simply because you now have to use electricity to charge your car, which is something you haven’t done before. Energy providers don’t increase their price per kWh just because you now plug in and charge an electric car at home.

I'll give you an example, if you have a Vauxhall Mokka-e (50 kWh battery), and you charge once a week in full (netting ~150 miles of range), you can expect to pay £4.75 per week, which is £247 a year (Octopus Go @ 9.5p/kWh).

What are the benefits of an EV tariff?

The main reason why you’d want to get an EV tariff is that they are cheaper. However, there are other benefits which you may wish to consider.

Save money when charging at home

The main benefit is that you’ll be saving quite a lot of money. The savings are staggering versus charging at peak daytime rates at home or public charging infrastructure. 

According to Ofgem, the energy price cap increases over the past year mean that most households may be paying the standard variable average of just under 30p per kWh of electricity.

The key advantage of an EV tariff is that you can access much cheaper electricity, usually at night (off-peak), so you can charge your vehicle for as low as 7.5p per kWh (e.g. Octopus’ 'Intelligent Octopus' tariff). The prices vary by provider and area, but you’ll be paying about 75% less than your normal day rate in this example.

See our other EV money-saving tips here! 

Driving renewable energy forward

All UK energy providers are now trying to find ways to generate energy from renewable sources. You will support these efforts by getting an EV and choosing an EV tariff.

All UK EV energy suppliers comply with the Renewable Energy Guarantee of Origin (REGO) scheme. This scheme ensures that energy suppliers are transparent about their energy source and how much of it comes from renewables.

Save on smart home EV chargers

To support the rollout and use of electric and hybrid cars in the UK, the Office of Zero Emission Vehicles (OZEV) offers a charge point grant.

You can save up to 75% on installing an EV smart home charging point. This is available even now, after 1 July 2023.

There’s a big downside – the scheme isn’t available to house owners (including mortgage payers). Only people renting or owning flats (and single-use properties) can take advantage of the discount.

How to find your cheapest EV tariff

The easiest way is to compare all current tariff on this page, where we’ve listed the unit rates, the standing charges and provider customer review ratings. 

You’ll need to consider your energy usage and find the exact rates for your area. Every provider has either a rate card or a quote process which you need to go through to get the most accurate tariff cost. 

Something to remember is that sometimes you can get a very cheap night, off-peak rate, but the daytime unit rate is higher.

The best way to identify a cheap tariff is to look at the duration of the cheap off-peak rate and how much of your usage you can fit into it. The daily standing charge is not much of a factor when looking at bills of an EV household, as these are flat and only charged once per day.

It is far more important to focus on the unit rates charged for each kWh of electricity you consume.

A higher standing charge coupled with low unit rates is far more preferable to an EV driver than low standing charges and high unit rates.

FAQs about EV tariffs