A small energy firm has launched an electric vehicle and home tariff that gives customers separate rates for charging their car and what they use in the home.
Claiming to be the first of its kind, the Home and Smart EV bundle is from Tonik Energy and it says it is the UK’s lowest priced overnight fixed rate for new electric car users.
It says that drivers will be able to charge their car up to 8,000 miles for just £80 overnight over the course of the year, based on a Tesla Model 3, with 100 per cent renewable energy.
One industry insider says these types of deal are likely to become ‘more commonplace as electric cars grow in popularity.’
The Home and Smart EV bundle gives EV owners the UK’s lowest priced overnight fixed rate
Customers are given a separate electric vehicle charger rate to the rest of their home energy to allow households more transparency over how much it actually costs to charge their vehicle.
The Birmingham-based energy supplier said the reason it is now introducing the new bundle is due to the EV market growing in the UK.
Registrations for solely electric vehicles in the first six months of 2020 are up 86 per cent when compared to 2019 – although are still well off levels seen for petrol and to a lesser extent, diesel.
In May 2020, pure-EVs were the only fuel type to increase in sales, as all other sectors declined by at least 50 per cent, according to the Society of Motor Manufacturer and Traders – although this was a market severely hampered by the coronavirus pandemic.
Chris Russell, chief executive of Tonik Energy, said: ‘We designed Home and Smart EV to meet the needs of UK households who are increasingly making the switch to EV.
‘We know that those switching to EV often consider where they could charge when they are out and about, but may think late on, or not enough about their home charging choices.’
How does it work?
Customers will firstly have to get a smart electric vehicle charging point installed at their home on or after 29 July 2020.
If you already have a home charger from the firm you will not be eligible for this offer.
Tonik has a range of chargers to choose from brands such as EO, myenergi and Ohme with prices starting from £349 which will be installed by Tonik’s in-house EV charger team, The Phoenix Works.
Consumers must then sign up to one of Tonik’s home energy tariffs if they are not yet a customer already.
In May 2020, pure-EVs were also the only fuel type to increase in sales, according to data
By integrating with selected smart chargers, Tonik can then separate the home and the EV charging energy with special rates.
It claims to be currently offering the UK’s lowest priced fixed overnight rate for electric vehicle charging in the UK at 4.17p kWh, while its daytime rate is more than double at 10p.
The overnight rate is midnight to 7am and it can be scheduled to charge at this time.
Tonik takes the data to ensure that night-time charging can get customers up to 8,000 miles for only £80 over the course of the year which will be reflected as a credit on customer’s home energy bills.
Customers do not require a special two rate or smart meter – it can work with any standard energy meter as it uses the smart data from the charger.
Tonik says customers will also benefit with their normal home energy needs as they can save up to £300 compared to their current energy tariff, alongside the savings in charging their car at a lower rate overnight.
This could help eat into the outlay of getting an electric car charging point installed.
However, the Home and Smart EV tariff is capped at 1,920kWh for customers electric vehicle consumption through the home charging solution over a 12 month period.
Any consumption above this cap will be charged at the customers Tonik home energy tariff rate, which is more expensive.
Russell added: ‘EVs now have longer battery range, so most of the charging will be done at home – the home replaces the petrol forecourt, and it is important to get the right charger to manage charging and minimise costs.
‘With Tonik being both an energy supplier and energy tech installer we can provide this end-to-end solution for the EV owner with the home energy supply charging the car – making it easier and lower cost for consumers.
‘Tonik is giving EV drivers the opportunity to charge whilst they sleep, save money and make a positive difference to the planet.’
Tonik is 14th in the list of best energy suppliers, according to league tables by Which? earlier in the year, which features 35 companies.
Will Owen, energy expert at Uswitch, said: ‘While most people associate electric vehicles with environmental benefits, the cost benefits are impressive too.
‘Running costs for electric cars can be much lower than petrol and diesel vehicles.
‘For fully electric vehicles you don’t have to fill up on fuel at all, and plug-in hybrids will use much less fuel than a standard car.
‘One of the best ways to charge your EV cheaply at home is to take advantage of cheap off-peak energy rates.
‘Many energy providers offer specific tariffs designed for households with electric vehicles.
‘While not all suppliers offer specialist EV tariffs at the moment, they’re likely to become more commonplace as electric cars grow in popularity.’
Electric vehicles are cheaper to own that petrol cars
The average zero-emission electric vehicle model is already cheaper to own than a petrol car, separate research claims.
In 2020, the average lifetime running costs – including purchase price – for an electric car is £52,133, while an equivalent petrol model is £53,625.
On average, an electric vehicle would cost the owner £3,752 a year over the course of its life, compared to £3,858 for a petrol car, resulting in an annual saving of £107, according to Direct Line.
In June this year, pure electric cars accounted for 6 per cent of all motor sales, as the market continues to shift in favour of alternative-fuel vehicles.
However, the figures have in recent months been skewed by the plummet in registrations of new motors during the coronavirus lockdown.
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