Not only does Octopus provide a tariff that customers who want to charge their electric vehicles at home can sign up to, but it also helps prospective drivers find a new electric car and get to grips with charging on the go at public charging points.
Octopus Energy Go is the provider’s EV-specific tariff which works with the same principles as an Economy 7 deal, where electricity is cheaper between 12.30am and 4.30am each night. It’s only available to existing Octopus customers, so anyone wanting to sign up would initially have to join on a standard variable tariff and then switch. It doesn’t matter whether you have a fully electric or hybrid vehicle, or whether you own or lease it, as long as you’re planning to charge it at home.
The cost per kWh of electricity during the night-time period is 7.5p, which Octopus claims will mean that fuel costs end up at around 2p per mile - a tenth of the price of filling up a “traditional” car.
However, because it’s effectively an Economy 7 tariff, customers will need a smart meter that Octopus can connect to (either SMETS1 or SMETS2). This will ensure they’re charged the correct fees for the energy they use during the day or during those cheaper night-time hours. If you have an incompatible smart meter - or no smart meter at all - you can still switch to Octopus, but you’ll have to wait on the standard variable tariff until the provider can install a compatible smart meter at your property.
It’s worth noting, too, that Octopus’s website shows different versions of the Go tariff, where the cheaper night-time hours begin at different times. There are also versions where you can get five cheaper hours, rather than four, though these show slightly more expensive prices per kWh. You can see which deals are available for your postcode by entering it into the checker on the Our Tariffs page. Make sure you calculate your hours of use and likely spend carefully, though, as these tariffs are fixed for varying lengths of time and you may not want to lock yourself in.
It’s unlikely you’ll find any electric car tariffs on comparison websites - this was the case even before the current energy market challenges. If you’re looking to switch to Octopus Energy Go, you’ll need to contact the provider’s customer service team and take it from there.