With the recent rise in the energy price cap, electricity providers are competing to attract electric vehicle (EV) owners by offering a range of more affordable tariffs. However, beneath the appealing prices lie hidden conditions and fees, making it crucial for drivers to review the details carefully before signing up.

From 1 July, the average standard variable tariff (SVT) for electricity increased by 5.8%, moving from 24.67p per kWh to 26.11p per kWh. According to Ofgem, approximately 60% of customers are currently on an SVT, meaning millions of households are now paying more for their energy use.

In contrast, customers on a one-year fixed plan – where the rate per unit is lower and locked for about 12 months – are paying roughly 22p per kWh. This difference can translate into noticeable savings for EV owners.

For instance, a driver of a Skoda Enyaq, which averages around 4 miles per kWh and covers 8000 miles annually, would spend approximately £522 under the current SVT. On the lowest one-year fixed tariff, they would pay around £440 – saving about £82 a year.

These calculations assume that all charging is done at home, as 76% of EV owners reportedly can, according to the government’s EV Tracker Report. Public charging, on the other hand, is significantly more expensive, averaging around 54p per kWh at fast-charging stations.

Opting for a fixed tariff is a relatively simple way to save, but experts recommend ensuring it’s at least 10% cheaper than the SVT. It’s also important to check the length of the contract, whether it’s available to new or existing customers, the daily standing charge (as some are higher than average), and if the supplier imposes an exit fee, which is typically around £50.

For those concerned about being locked into a higher rate should the price cap drop later, British Gas offers a Fix & Fall tariff. This plan fixes prices for two years but reduces them after the first year if the cap drops, though the discount is limited to £50. The exit fees are £75 each for gas and electricity.

Meanwhile, more EV drivers are turning to dedicated EV tariffs that provide even cheaper off-peak rates—around 9p per kWh during set hours. While these are branded as EV tariffs, in practice, any household appliance can benefit. Most of these tariffs apply between midnight and 5 a.m., enough time to deliver about 37kWh of energy from a 7.4kW home charger.

Using such an EV tariff to charge a Skoda Enyaq for 8000 miles over a year would cost roughly £180—far below both fixed and SVT rates. However, the limited off-peak window means some peak-hour or public charging may still be required, which can increase overall costs.

Some energy suppliers also offer discounted daytime rates on Sundays when demand is lower. For example, British Gas’s PeakSave Sundays offers half-price electricity from 11 a.m. to 4 p.m.

Octopus Energy leverages fluctuations in wholesale energy prices with its Intelligent Octopus Go tariff, offering electricity at 8p per kWh. Customers benefit by keeping their EVs connected to compatible chargers, such as the Ohme Home Pro, and scheduling charging times through the system.

Scottish Power’s EV Optimise plan is even more competitive, providing rates as low as 6p per kWh when paired with one of its recommended chargers.

However, potential buyers should remember that both standing charges and peak-time tariffs may be higher, so it’s wise to assess the full cost structure carefully. It’s also important to review gas tariffs, as switching electricity providers can sometimes affect those rates as well.