Ovo Energy plans to launch an electric vehicle charging tariff, at half the usual price, to compete with typical off-peak rates even when electricity demand is at its highest. The UK’s second-largest energy supplier will set the tariff at a flat rate of 6p per kilowatt-hour no matter what time of day their customers choose to charge their vehicle, in direct competition with suppliers which offer cut-price charging during set hours overnight. The supplier hopes to rival the so-called “time of use” tariffs which offer customers ultra-low rates as long as they charge when demand for electricity is low, and avoid charging when renewable energy is scarce and prices are high. Instead Ovo’s “type of use” tariff will be less than half the typical rate from rival suppliers – without limiting the times when customers can charge – by automatically charging vehicles when prices are low. When prices are high, energy could be drawn back into the grid from the batteries of electric vehicles sitting idle.
Guardian 26th Jan 2021 read more »
The second largest energy supplier in Britain plans to launch an electric vehicle charging tariff at half the usual price to compete with off-peak rates even when electricity demand is at its highest. Ovo Energy will set the tariff at a flat rate of 6p per kilowatt-hour regardless of what time of day its customers choose to charge their vehicles, entering into direct competition with suppliers that offer cut-price charging during set hours overnight, according to The Guardian. It hopes to rival “time-of-use tariffs” that offer people ultra-low rates as long as they charge when demand for electricity is low. Ovo’s tariff will be less than half the typical rate from rival suppliers — without limiting the times when customers can charge — by automatically charging vehicles when prices are low. When prices are high, energy could be drawn back into the grid from the batteries of electric vehicles sitting idle.
Times 27th Jan 2021 read more »