Renewable energy provider So Energy has announced the launch of So EV, a new energy tariff specifically designed for EV drivers.
The tariff features an overnight rate of 6.5p/kWh between midnight and 5am, fixed for 12 months, and is powered entirely by renewable electricity. So Energy states that the tariff is also designed to help support grid balancing by encouraging EV drivers to shift charging their vehicles to off-peak times.
To be eligible for the tariff, customers, both new and existing, must own an electric or plug-in hybrid vehicle, a home EV charger and a smart meter that can provide half-hourly usage data. So Energy states that it will soon launch its own EV charger installation service to help more people make the switch to charging their EV at home.
A recent state of the market report from Ofgem noted that smart time of use tariffs like this have soared in popularity in the last year, with the uptake of such tariffs rising 75%, driven primarily by the rise in EV ownership. Other firms have also brought smart time of use tariffs to market specifically for EV charging, including home EV charger provider Ohme, which has collaborated with E.ON Next to offer what the two firms claim is the “longest and lowest” off-peak charging rate on the market, and Octopus Energy, which manages over 1GW of batteries through its Intelligent Octopus Go tariff and recently launched its own home EV charger product.
E.ON Next also recently announced the launch of a pilot package that will see customers receive an EV charger and other low-carbon tech at no upfront cost in order to encourage EV uptake by making home charging accessible to more people.
Michelle Little, head of propositions at So Energy, said that the firm is “delighted” to provide the tariff to EV drivers. She added: “We’ve created this smart tariff with simplicity and savings in mind, helping them reduce both their carbon footprint and energy bills.”
Affordability has been frequently noted as an issue for the expansion of EV charging in the UK. A recent report from analytics firm Cornwall Insight has noted that public charging can cost up to £1,500 more per year than using an off-peak home charging tariff.
The report also notes that while 80% of current EV owners are able to benefit from home charging, which is largely cheaper than public charging, around 75% of UK homes lack access to a driveway, forcing them to rely on more expensive public charging for their EV.
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