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Electric vehicle drivers are being advised on how they can keep their charging costs low as prices fluctuate. This comes after Octopus Energy announced that some customers on Octopus Go and Octopus Go Smart energy tariffs will pay 32% more from May 1st.
The tariffs originally offered cheap overnight charging for customers with electric vehicles, allowing them to charge at lower rates.
The motoring team at LeaseLoco.com says the change from the energy company reflects the current state of the industry, with Octopus Energy attributing it to ongoing volatility and shifts in supply and demand.
Now the experts are advising EV drivers that while off-peak charging is still the cheaper option, prices are becoming less predictable and drivers should stay flexible and take advantage of the best charging times to keep tariffs down.
John Wilmot, CEO of car leasing company LeaseLoco, said: “The recent change brought in by Octopus Energy is reflective of what’s happening in the industry currently.
“It’s important to recognise that off-peak charging is still cheaper than peak times, but you can see where customers’ frustrations have come from.
“The reality is that prices are fluctuating as a result of the ongoing changes in the energy market, and for EV drivers, this means they should keep an eye on tariffs and charge at the cheapest times where possible.”
How to Keep EV Charging Costs Low:
Continue to Charge at Off-Peak Times
Despite fluctuating costs, it is still cheaper to charge cars during off-peak hours. Even with recent tariff changes, overnight charging rates are still lower than peak time.
Avoid Public Chargers
Where possible, try to avoid using public EV chargers, as they’re generally much more expensive than home ones.
Charge Efficiently
It’s generally advisable to keep your car’s battery charged between 20% and 80% daily to prolong its lifespan and performance. Avoid charging it to 100% unless you’re going on a long journey, as this can increase battery temperatures and cause stress.
Choose the Right EV Tariff
Many energy suppliers offer EV-specific tariffs with cheap overnight charging rates. Regularly compare plans to help ensure you’re getting the best deal as prices change.
Make Use of Smart Charging Features
Smart charging allows you to plug in your EV and set your departure time. It will then automatically charge your car during the cheapest off-peak periods, without you having to check.
LeaseLoco is the UK’s biggest car lease comparison website, making it super quick and easy for drivers to filter and compare millions of car lease deals from the country’s leading car leasing companies to best suit their needs.
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