You are here: Home - Household Bills - News -

Ovo launches cut-price green electric vehicle energy tariff

Written by: Emma Lunn
The energy firm says the new price plan can slash electric vehicle (EV) charging costs by up to 70%.

Ovo Energy trialled the EV tariff, called Ovo Drive + Anytime, in January, but says the new version is even more cost-effective.

Ovo Drive + Anytime is the UK’s only green energy plan that offers customers separate rates for their car and home.

Ovo says that EV drivers using the tariff can drive for a year for as little as £100, offering a flat rate of 5p/kWh, no matter what time of day their vehicle is charged.

It says that by splitting customers’ home energy and EV energy usage, tariff users can save 70% on charging costs. By splitting the EV charging costs from home electricity charges, customers will be credited back for the amount of electricity saved via EV smart charging every month.

Ovo Drive + Anytime works in conjunction with Kaluza’s energy platform and smart charging innovation. Using AI algorithms, Kaluza can automatically optimise a user’s car to charge during times of low energy demand, when emissions and prices are also low.

Ovo says the flat-rate tariff differs from others in the market where customers end up paying significantly higher prices when charging during the middle of the day and are exposed to energy price spikes as operators bring more renewable power onto the system and balance increasing demand.

Chris Russell, managing director of Ovo Drive at Ovo Energy, said: “Our Ovo Drive + Anytime trial in January was a real success and we’re thrilled to be rolling out this pioneering new plan nationwide. To be able to offer our EV-driving customers an affordable and hassle-free way of joining us in our mission to achieve a carbon zero future is amazing. We want to encourage the use of electric vehicles as a carbon-conscious lifestyle choice, and it should be easy and accessible – with the help of Kaluza’s cutting edge technology, our new Drive + Anytime plan embodies that vision perfectly.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week