OVO Energy yesterday (1 November) slashed its Charge Anytime rates by 30% to 7p per kWh making it the “cheapest” home EV charging plan in the UK.
According to the group, the new rate means that the average UK EV driver, who drives around 7,000 miles a year, will be able to drive for less than 3p per mile. This means that a driver will be able to get a year’s worth of driving for £190.
The announcement comes just a week after EDF and Pod Point unveiled an overnight EV charging tariff of just 7.4p/kWh. Unlike this tariff however, OVO’s Charge Anytime rate is not restricted to certain periods of the day and instead allows EV drivers to access the 7p/kWh rate at any time of the day.
OVO stated that the use of an “intelligent” charging technology, powered by Kaluza, also unlocks a charging rate that is nearly four times cheaper than the average cost of electricity, which currently stands at 26p/kWh.
“OVO’s bringing the UK’s cheapest EV charging rates to customers because we want to make green driving a no-brainer,” said Mat Moakes, chief commercial officer at OVO.
“The government may have delayed the ban on sales of petrol and diesel cars but with Charge Anytime making it 75% cheaper to run an EV than a petrol car, there’s never been a better time to make the switch.”
Although this could be a huge boost to home charging capabilities, there still remains a gulf between this and public charging with Pod Point referencing recently that public charging has an average cost of 48p per kWh.
This calls into question the disparity between home charging and public charging. With homes with EV charging capabilities or a driveway considered a premium, particularly in urban locations, those with the financial capacity to afford these are also benefiting from cheaper EV charging rates.
This topic was explored by Current± late last year. Click here to read the article.
