London, 8 October 2024: Hundreds of thousands of electric car drivers are missing out on big savings by charging their vehicles at the most expensive times, new research from Utility Warehouse (UW) reveals today.
Despite the increase in popularity of electric vehicles (EV) with more than 1 million electric cars on UK roads, a shocking 78% of EV drivers admit to plugging in during the worst possible hours of the day, rather than taking advantage of cheaper off-peak rates.
Three in ten (29%) say they’re most likely to charge between 6pm and 9pm, while 26% opt for 9pm to midnight, and 23% during the day between 6am and 6pm. A mere 16% of EV owners actually charge during the bargain hours of midnight to 6am.
Additionally, more than a third (36%) of EV drivers aren’t pre-setting their charging times for cheaper rates and a jaw-dropping 42% don’t have a specialised EV tariff. More than one in five (21%) of those who do not have an EV tariff also say they prefer to use public charging outlets - which costs more when compared to charging at home.
The research, conducted by Opinium for UW among 2,000 Brits, comes as UW today launches a new EV tariff enabling motorists to get five hours of cheap overnight charging at home for as little as 7p per kWh every single day.
EV driver confusion
Astonishingly, according to the research, almost a third (29%) of electric car drivers still haven’t signed up for a specialist EV tariff with their supplier, with 22% admitting they’re completely confused about which option to choose. Even more frustratingly, 15% say their supplier’s tariff doesn’t work with all home chargers, while almost one in 10 say they don’t want to switch as it simply takes too long to set up.
When asked about their supplier, a majority of electric car drivers are crying out for a better deal. UW is gearing up for rapid growth among EV drivers as a massive 67% of EV drivers would find switching to an EV tariff appealing if a supplier made it cheaper by bundling it with other household services like insurance, broadband or mobile.
Power of personal recommendation
When it comes to picking a new EV tariff, Brits are increasingly putting their faith in family and friends. More than half (52%) say they'd trust a recommendation from a family member, while nearly half (47%) would take advice from a friend. Meanwhile, only 38% are swayed by big-name TV consumer champions and a measly 26% trust social media influencers.
UW’s variable rate EV tariff
With UW’s new variable-rate EV tariff, customers can charge their vehicle between midnight and 5am for just 7p per kWh when they combine it with at least two other UW services from broadband, mobile and insurance. Customers who want to take just one or two other UW services can also make savings: 8p per kWh for two services and 8.5p for one service.
The new tariff works with all electric and plug-in hybrid cars as well as all home chargers - even if charged directly from the mains. It also comes with no exit fees and customers can switch over in just one click.
David Walter, Chief Growth Officer at Utility Warehouse, said: “It’s clear that countless electric vehicle drivers want a better deal from their supplier. Many are paying over the odds and are utterly confused about their options and the best times to charge. Instead of trusting TV experts or TikTok stars, they want to hear about the best deals straight from family and friends, along with the peace of mind that they can quickly switch to a tariff that works with all types of home chargers.
“Our brand-new EV tariff allows drivers to say goodbye to these headaches. By signing up with UW, motorists can unlock market leading rates, get personalised support from our dedicated Partners and enjoy big savings on their other essential household services too.”
Visit www.uw.co.uk/energy/ev-tariffs to sign up or for more information.
