Cheap Overnight EV Charging Rates
If you own an EV, you’ve probably thought about charging it overnight to save on how much it costs to charge at home. Historically, cheaper rates were available in the early hours of the morning so homeowners could make use of this budget option. While most of these tariffs disappeared during the onset of the energy crisis at the end of 2022, energy companies have started to bring them back.
How Do EV Tariffs Work?
Usually, energy suppliers give you a window of four or so hours overnight of cheaper electricity. By opting to charge your EV at these times, you benefit from a more budget option for keeping your vehicle’s battery topped up. On the flip side, these are electricity only tariffs, so if you need to use gas, you’ll have to take out an extra deal.
The only thing to watch out for is the differences in daytime rates, as this may differ to what you’re used to. So while you can save on energy with your EV by charging it at these cheaper times, you can also save by running power-hungry appliances at the same time as well. Taking a look at the standing charges may also affect your decision.
Overnight EV Tariffs
You can see how different overnight EV tariffs compare in the interactive graph below. For the sake of comparison, the current price cap rate has been included.
Although these deals are fairly similar in price, the cheapest is EDF’s Pod Point EV Exclusive at just 7.4p/kWh. Between midnight and 5.00am, you’re able to charge at this fixed price for a whole year, which works out at less than 2.5p/mile.
EDF’s GoElectric Overnight tariff comes in at 8p/kWh. During the winter, you can use this cheaper rate between midnight at 5.00am, and in the summer these times shift by an hour to 1.00am and 6.00am.
Advertised at offering a price for your EV that’s around 3p/mile, Octopus Go gives you cheaper rates between 12.30am and 4.30am. Though it’s a smaller window than other energy suppliers, it’s still ample time to charge your EV at 9p/kWh.
Intelligent Octopus Go makes this cheaper by giving your EV charge for around 2.4p/mile. It’s a cheaper tariff, at 7.5p/kWh, but the cheaper window is between 11.30pm and 5.30am. According to their website, this could save you £600 a year compared to the price cap.
Between midnight and 5.00am, you can charge your EV for 8.25p/kWh. By making use of this tariff from ScottishPower, they estimate that it will cost you £542 less to use an EV than it would to fill up a petrol car throughout the year.
Between midnight and 5.00am, you can benefit from 8.95p/kWh, which is 35 off-peak hours a week. While it is one of the cheaper rates on the market, this price is only locked in until 30th November. British Gas also doesn’t charge you an exit fee.
The E.ON NextDrive EV tariff is 9.5p/kWh between midnight and 7.00am, which is useful for those who will still be charging their car before they leave for work in the morning. Just like British Gas, E.ON also doesn’t charge exit fees for switching to a different supplier.
EV Tariff Day Rates
Even though you’ll save at least a third on electricity prices by charging your EV overnight, you will have to endure slightly higher day rates. The average price cap is 27p/kWh, but all EV tariffs are at least higher than 30p/kWh. This is to offset the cheaper energy you’re supplied with during the night, as peak demand is found during the day. However, by charging your EV at night, you will still be saving.
You can see how the day rates for these tariffs compare in the interactive graph below.
Home EV Charger
To benefit from an exclusive EV tariff, you will need to install an EV charger at your home. Fortunately, there is a grant you can make use of to help you afford this for less. A massive 75% of a charger’s cost can be covered, up to £350, so you can start charging your EV for a lot less.
Find out how much you’d pay by clicking on the button below.