British EV drivers lose out on £168m in savings by not embracing smart tariffs

New research from Easee, the EV charging technology company, has claimed that UK electric vehicle (EV) drivers are collectively missing out on potential savings of £168.2 million on their annual energy bills by not charging on smart tariffs.

The study highlights that of the 1.615 million EVs currently on UK roads, around 28 percent of drivers continue to charge their vehicles during peak times – between 8am and 11am, or 4pm and 10pm – rather than shifting to off-peak
hours supported by smart tariffs.

Easee’s analysis shows that if drivers switched to smart tariffs, they could each save between £265 and £372 per year, depending on their weekly charging needs. 

For an average weekly EV charging requirement of 28kWh, drivers could save around £265 annually, while those charging 40kWh per week could save £372. Collectively, this amounts to £168.2 million in lost savings across the UK.

Analysis of leading e-mobility markets in Europe also reveals the significant savings to
be made by customers on the Continent. 

In Germany, 30 percent of the country’s 3.35 million-plus EV drivers typically charge during peak periods, with potential annual savings of up to €180 for 30kWh charging – and €180.9 million collectively.

In European markets seeking to grow their EV adoption further, drivers are able to unlock particularly remarkable savings for themselves by transitioning to a smart energy rate. 

In Luxembourg, an astonishing 89 percent of EV drivers tend to charge up in
peak times, as yearly savings have the potential to reach €400 for 48kWh charging.

Sam Levy, UK Sales Director at Easee, commented: “Switching to a smart tariff is one of the simplest and most effective ways for EV drivers to save money and reduce their environmental impact. 

“By charging at off-peak times, drivers can cut their annual energy bills by hundreds of pounds while helping to balance demand on the grid. 

“At Easee, our chargers are built to make this
process effortless, and with smart tariffs like Fuse now widely available, there has never been a better time to make the switch to sustainable EV ownership.

He continued: “Smart charging is more than a cost saving, it’s a win-win-win. Consumers win by cutting bills. The grid wins through better-distributed load, helping to avoid or defer expensive infrastructure upgrades. 

"Society and the climate win because more charging is aligned with periods of higher renewable energy generation, reducing reliance on fossil power and easing pressure on the grid, costs which are ultimately borne by taxpayers.”