Electric vehicle owners across Britain are paying less to charge their cars starting today as Ofgem reduced the Standard Variable Tariff for electricity.
The energy regulator lowered the energy price cap, dropping the SVT to an average of 24.67p/kWh. This means a typical EV can now travel around 160 miles for just £10.
Meanwhile, fuel prices continue climbing due to the Middle East conflict. A petrol car gets only 60 miles for the same £10.
Dedicated EV Tariffs Offer Even Bigger Savings
Home charging specialist Ohme points out that drivers on specialized EV tariffs can save much more money.
These dedicated home charging tariffs cost as little as 8p/kWh – about one-third of the new SVT rate. At that price, drivers could potentially travel up to 500 miles for £10.
Ohme’s calculations show that’s enough to drive from central London to Tenby in South Wales. Or complete the entire North Coast 500 route on a single charge.
“Charging an EV with Ohme on a smart energy tariff at home will always be the most affordable place for drivers to charge their vehicles,” said Ohme CEO David Watson.
“And at a time when petrol prices are becoming increasingly volatile, there’s never been a better time to drive an EV – after all, who wouldn’t want to be able to do 500 miles for just £10?”
Fuel Price Volatility Drives EV Interest
The recent spike in petrol and diesel costs has boosted interest in electric cars.
Petrol now costs 19p per litre more than it did at the end of February. Diesel prices have jumped nearly 39p per litre during the same period.
Motorists are growing concerned about unpredictable running costs for petrol and diesel vehicles.
Online marketplace Autotrader reported a 28% increase in enquiries about new EVs and a 15% rise in leads on used electric models.
