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Image for Costs for EV charging at home fall to 7.5p per kWh

Costs for EV charging at home fall to 7.5p per kWh

As the drop in energy costs start to filter through to homes and businesses, it means good news for EV charging, whether it is at a public charging point or charging at home or work will a wall box. Ofgem have recently announced that the Standard Variable Tariff for domestic electricity rates will fall to 30p/kWh from 1 July, which means a 4p/kWh saving on the current tariff that has been in pace for the last 6 months.

There is, however, bigger increases if consumers shop elsewhere, especially for EV owners who charge their vehicles at home using an off peak tariff.

Octopus Energy have recently introduced Intelligent Octopus, the UK’s first 100% flexible charging tariff, that has an off peak duration of 6 hours, between 23:30 and 05:30, when the cost is 7.5p / kWh. For the average 6,800 miles travelled by car owners a year, charging at an off-peak tariff of 7.5p kWh could cost £127.50, which is a substantial saving compared with charging at the new Standard Variable Tariff of 30 kWh.

For more information about the Octopus Energy Intelligent tariff, visit the Octopus Energy website.

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