Octopus Energy has the launched a new tariff which offers UK drivers unlimited smart charging for just £30 a month. That might seem like a good deal – but our sums estimate it will only make sense for high mileage drivers.
The new subscription model is designed for drivers with a working smart meter and one of almost 280 compatible EV brands and chargers installed at home - the same as those compatible with Octopus' Intelligent tariff.
The £30 subscription covers smart charging for only one electric car and the power flow timing is scheduled by Octopus, usually overnight. Customers can choose a ‘ready by’ time between 4-11am and enjoy the greenest energy possible at a fixed low price.
Customers who want to charge during unscheduled hours can use a boost function on their app to charge at their normal home energy rate – but it's not included in the £30 monthly fee.
Although Intelligent Drive Pack means drivers will pay two fifths (41%) of what petrol car owners typically spend each month (based on 2023 average mileage of a UK driver of 7,600 miles and average price for fuel), the same average mile EV motorist in a car consuming a kWh of energy every four miles will pay just £11.08 a month by using Octopus’ existing Intelligent tariff at 7p per kWh - that's £18.92 less than the flat fee rate of the new tariff. It means Intelligent Drive Pack will only make sense if you cover more than 20,571 per year, or have a less efficient electric vehicle. For example, the break even drops to 12,480 if you have a car which achieves 2.5 miles per kWh.
