EV charging could cost you £1000 extra in energy bills

EV charging could cost you £1000 extra in energy bills
28 April 2021

EV charging could cost you £1000 extra in energy bills

How much does it cost to charge an electric vehicle (EV)?

Your electric vehicle has a battery expressed in kWh. Quite simply look at the cost of your electricity bill provider (pence per kWh) and times this by the size of the battery. If you checked this a year ago, the figures are likely to be different to what they are today. With energy price increases, EV drivers could see their energy bills increasing by more than £1,000 if they don't use a suitable energy tariff for EV charging.

Energy prices in the UK increased once again on 1st April 2021 and many households, including those with electric vehicles, are expecting larger electricity bills over the next year. Electric vehicles already save money when it comes to maintenance, tax benefits and fuel efficiency, but with the electricity price hike the cost of charging an electric vehicle will be more. EV drivers are not always aware that they can save money in energy bills by switching to a cheaper electricity tariff to cover the cost of charging their EV.

How much could you save on electric vehicle charging?

An EV fleet driver doing 20,000 miles a year can expect to pay  £2,599 annually on a standard tariff from April 2021. This figure includes £1,454 for charging an electric car or van. Now, if he switched to an alternative lower-cost energy tariff, the annual energy bill could be only £1,349 and the EV charging cost included would be just £459. This means a massive saving of £995 on charging the EV and a further £255 on household energy bills!

Compared to a standard tariff, having an EV-friendly energy tariff will allow a homeowner to charge their electric car at home while reducing their total household energy bills at the same time.  Electric vehicle drivers shouldn't miss out on the savings available if they change to the right deal. There are potential saving costs on electricity bills of even £1,250 a year. That is a huge saving on your new electric vehicle charging costs. And with more people switching to electric vans and car leasing because of the additional cost savings, it is worth researching and taking advantage of electric-vehicle friendly tariffs.

Charlie Cook, founder of Rightcharge.co.uk said: “If all the current 1.04 million business contract hire drivers switched to electric cars and an EV-friendly energy tariff on the same mileage parameters, the potential saving is more than £1 billion on vehicle charging alone, plus a further £265 million on home energy costs.” 

Electric vehicle leasing - choose smart, charge smart...

There are plenty of price comparison sites and energy providers who will help you find the best EV-friendly energy tariff. Rightcharge can compare EV-friendly energy tariffs by including vehicle charging requirements. They'll also consider home energy needs so the customer can save even more money on running their electric vehicle. Cook said “We believe many EV drivers just don’t realise that while costs have gone up they can still save. Our price comparison website offers them the choices to make the best decisions.”

Don't let increased electricity tariffs put you off an electric vehicle, just make sure you have the best tariff at home to save money on your electric vehicle charging.

Still looking for your perfect electric car? Need an electric van to deliver within ULEZ? Click below to find the right electric vehicle deal for you or your business. 

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