British Gas has announced the launch of its Hive SmartCharge service, which it claims provides the “cheapest” electric vehicle (EV) charge price in the UK.
The energy supplier says Hive SmartCharge users can benefit from a 4p/kWh saving on EV charging, which would allow customers to benefit from up to £298 per year in savings.
These savings will automatically be credited to the customers’ monthly energy bills, leading to an average of £25 surplus each month.
The company also offers an Electric Driver tariff, which charges an effective rate of just 4.95p/kWh on EV charging if the vehicle is charged overnight between the hours of midnight and 5am.
These benefits have been added to the firm’s existing scheme, which offers 12 months of free home charging to new customers buying a Hive EV charger.
Kim Royds, director of mobility at Centrica New Business & Net Zero said: “We’re committed to making the transition to net zero simple and affordable and electric vehicles play a key part in this. Through our innovative SmartCharge offering, we’re helping EV owners take charge of their energy bills and access the cheapest EV charging rate on the market while also helping manage the demand on the grid.”
An ever-growing field
British Gas is not the first company to reach this milestone of providing the “cheapest” EV charging in the UK. Its predecessor, OVO Energy, announced in November 2023 that it had slashed its Charge Anytime rates by 30% to 7p per kWh.
According to the group, the new rate meant that the average UK EV driver, who drives around 7,000 miles annually, would be able to drive for less than 3p per mile, making the cost of a year’s driving £190.
Moreover, the EV market in the UK generally has been growing, with the Society of Motor Manufacturers and Traders (SMMT) reporting that BEVs accounted for one in six new cars registered on UK roads in 2023.
The organisation stated that BEV uptake was up by almost 50,000 units with 314,687 new registrations throughout 2023, the majority of which were from business and fleet buyers.