EV drivers missing out on £92m worth of savings

Electric vehicle (EV) drivers could save £92m a year by switching to a dedicated EV energy tariff.

New research by Love my EV, a UK dedicated electric vehicle and energy tariff price comparison site, has found that almost a fifth of EV drivers surveyed weren’t aware of EV-friendly energy tariffs that could save them each on average £351 a year on their energy bills. 

Even amongst those EV drivers who had heard about these tariffs, the majority are not signed up to one, with drivers saying that they either didn’t know enough about these tariffs (24%) or how to compare them to find their best options (20%).

The two motivators driving sales of EVs are fuel cost savings (39%) and ecological reasons (32%), but people need to shop around for energy if they are to maximise their cost savings and carbon impact. A third of EV drivers haven’t changed energy provider or tariff since purchasing their vehicle, which could see them paying far more than they need to for their power.

Mat Thomson, co-founder of Love my EV, said: “Electric vehicles can not only benefit the environment, they can also save people huge sums; but drivers need to shop around for the best deals. There are more and more dedicated EV energy tariffs available, as energy suppliers compete for drivers making the transition away from polluting petrol and diesel engines. Getting yourself on a specialist EV electricity tariff is not only one of the greenest things you can do, but it will also save you on average £351 a year.”

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