GB News guests debate using electric cars
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Following the announcement of Ofgem’s energy price cap increase, many UK households are under increasing financial pressure. Drivers of electric vehicles can offset some of the latest rise in electricity prices by ensuring that they are on a smart energy tariff when they charge.
The Standard Variable Tariff is set to rise from 28p/kWh to 52p/kWh on October 1, and is due to go up again in January.
Ohme are urging drivers to ensure they charge their cars on an off-peak tariff to help save money.
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 with Octopus Intelligent at 7.5p/kWh.
At the current Standard Variable Tariff of 28p/kWh, that same annual mileage would cost £476, while the forthcoming new price cap of 52p/kWh will cost £884.
This is six times more than with an off-peak tariff.
David Watson, CEO of Ohme, said: “EV drivers should switch to an off-peak tariff for their home charging to ensure that they’re reducing some of the impact of this latest rise in electricity prices.
“Speak to your existing electricity supplier and find out if they offer an off-peak tariff, if they don’t then switch to a provider that does to get the full savings of running an electric vehicle.”
According to the RAC, the impact of the energy price cap increase will certainly be felt by drivers who charge their electric cars at home.
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A full charge of a typical family-sized electric SUV will cost 84 percent more from October 1 than it did under the old cap – £33.80, compared to £18.37.
Despite recent falls in the price of petrol and diesel, the cost of charging at home is still good value compared to paying for either fuel.
Rod Dennis, a spokesperson for the RAC, said it underlines how the rising cost of electricity is affecting so many areas of people’s lives.
The RAC said it was aware of some public chargepoint operators having no choice but to increase their prices to reflect the rising wholesale costs.
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This will heavily impact drivers who have no choice but to charge their cars away from home.
He added: “The RAC continues to support the FairCharge campaign call for the Government to cut the VAT rate levied on electricity from public charge points to five percent.”
This would mirror the rate charges on domestic electricity.
Emily Seymour, Which? energy and sustainability editor, commented on the RAC data, saying it could prevent the uptake of EVs.
She said: “A big part of the electric vehicle appeal has always been lower running costs, but these price rises could jeopardise more people making the switch to electric cars.
“Many non-hybrid petrol drivers will still save money by switching to electric, but for many diesel drivers that now won’t be the case.
“In a recent survey, we found that the upfront cost of buying an EV is the biggest barrier preventing drivers from considering an electric vehicle – and this latest energy price rise could further prevent people from making the switch.”
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