electric vehicle owners may see their house charging costs increase by around £200 per year depending upon their energy tariff, after Ofgem increased its energy cost cap by 54 per cent.
The announcement, which will allow energy service providers to put customers’ expenses up, might mean house charging is £16 per month – equivalent to £192 per year – more costly for EV owners with a basic variable tariff, according to Octopus electric Vehicles.
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The firm’s CEO, Fiona Howarth, told auto Express: “For the two-thirds of UK drivers that have a driveway, charging your vehicle is as simple as charging your phone. Understandably, drivers may be wondering what the energy cost cap statement means for them, but taking a better look under the bonnet, the figures aren’t so daunting.
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“A typical driver on a basic variable tariff may see their costs boost by just over £16 a month. However, many drivers are also filling up at a low-cost overnight rate on an EV specific tariff – such as Octopus Go – when energy is plentiful when we are asleep. Powering your vehicle on that overnight rate costs just £12 per month for the typical British driver.
“This is a saving of over £1,000 every year compared to fuelling a vehicle with old institution petrol, making the switch to an EV even more attractive.”