OVO Energy Launches Innovative Green EV Tariff, slashing EV Charging Costs by up to 70%
Following a successful trial in January this year, OVO is rolling out an even more cost effective version of its pioneering ‘OVO Drive + Anytime’ tariff for electric vehicle drivers
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 the vehicle is charged
By splitting customers’ home energy and EV energy usage, tariff users can save 70% on charging costs.
The tariff is the UK’s only ‘type of use’ add-on, using Kaluza’s smart charging technology to split home energy from EV charging energy
Monday 23rd August 2021: Green energy supplier - OVO Energy - is today launching its new OVO Drive + Anytime electric vehicle (EV) charging tariff for members nationwide, following a successful pilot scheme in January this year.
The pioneering new tariff is the UK’s only green energy plan that brings customers separate rates for their car and home. Now rolling out nationally, OVO customers using the Drive + Anytime add-on could be driving their EV for just £100* across the year.
The new tariff, which launches today, offers customers complete flexibility with a guaranteed, ulta-low rate of only 5p/kWh no matter what time of day they plug-in and is the only tariff in the UK to split EV charging from home energy usage. 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 members will receive an ultra-low rate because of Kaluza’s world-leading energy platform and smart charging innovation. EV owners can take advantage of Kaluza’s intelligent software by selecting via a mobile app when they need their car charged by. Using AI algorithms, Kaluza then automatically optimises their car to charge during times of low energy demand, when emissions and prices are also low.
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 increasingly-frequent energy price spikes as operators bring more renewable power onto the system and balance increasing demand. As a result, OVO members are given a hassle-free charging experience that fits around their lives and rewards them for helping create a more decarbonised and resilient energy system.
This brand new green tariff comes as part of OVO’s net-zero mission, making sustainable and greener living an affordable and stress-free option. This innovative new plan helps OVO members go one step further towards a zero carbon future.
Chris Russell, Managing Director of OVO Drive, at OVO Energy commented: “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.”
Autumn Pray, Chief Product Officer at Kaluza commented:
“For the world to step up its response to the climate emergency and drastically cut emissions from energy, we need to take advantage of the latest smart technologies at our fingertips. The OVO Drive Anytime tariff is a prime example of how we can make it easy for individual customers to become the driving force of the energy transition - by rewarding people for trusting in the technology that is enabling a more resilient, greener energy system. It is exciting to be working with OVO on such a pioneering offering that creates a win-win for both drivers and the planet.”
OVO Energy was founded in 2009 to make energy cheaper, greener and simpler. The company has spent the last decade investing in the market leading technology, customer service operations and digital products to help members cut their carbon emissions. OVO is on a mission through its sustainability strategy Plan Zero to tackle the most important issue of our time; the climate crisis, by bringing our customers with us on the journey towards zero carbon living. OVO Energy has committed to being a net zero carbon business and achieve bold science-based carbon reduction targets by 2030, while helping members halve their carbon footprint at the same time.
Kaluza is the leading intelligent energy platform powering the future of energy. From revolutionising billing to smart electric vehicle charging, Kaluza’s technology is empowering some of the biggest energy suppliers to better serve millions of customers. Its real-time cloud platform transforms supplier operations, reducing cost to serve and boosting customer engagement. Powered by Kaluza, suppliers can invest in innovating for tomorrow’s customers and drive decarbonisation with smart, low carbon technologies that not only reduce energy bills, but lay the foundations for a more flexible energy system.
*Sub-£100 claim based on an EV customer driving the UK Average of 7,400 miles at an average of 4mi/kWh, and charging 1,850kWh per year using the Anytime rate of 5p/kWh. Individual savings will vary based on driving style and EV charging usage.
For example, a Tesla Model 3 driver (with efficiency 265 Wh/mi) could drive 8000 miles
Up to 70% saving on EV charging costs based on average energy price and charging using the smart charging schedule. Average price cap energy cost is 18.4p/kWh, OVO Drive + Anytime pricing is 5p/kWh, this results in a 70% saving on EV charging costs when using the smart charging schedule.
The Anytime charging rate is less than ⅓ of what you would pay for a normal energy tariff.
Ofgem price cap average rate is currently 18.4p/kWh (pay monthly single rate tariffs)
Anytime rate is 5p/kWh for smart EV charging, so the current saving is 73%
The Ofgem price cap is increasing in October to 20.5p/kWh (pay monthly single rate tariffs). When it does, the Anytime saving will be 76%, just ¼ of the price of a standard tariff
Compared to rapid charging at a motorway services, Anytime is 6-8x cheaper (e.g. Shell Recharge charges 41p/kWh, Electric Highway costs 30p/kWh)