Overnight public electric vehicle charging saves drivers £260 a year

Smart off-peak energy tariffs have the potential to save electric vehicle (EV) drivers hundreds of pounds, new analysis of more than 100,000 drivers suggests.

The research, conducted by EV charging app Bonnet, concludes that EV drivers can save up to £260 each year by using public chargers overnight.

Looking at where and how EV drivers refuel their electric cars, it found those taking advantage of smart off-peak energy tariffs have already saved hundreds of pounds this year.

Off-peak tariffs are currently offered in the UK by several major charging networks, such as GeniePoint and Chargy, and are especially helpful for the estimated third of drivers who are unable to install a charger at home.

The smart tariffs allow drivers to take advantage of cheaper rates overnight – though the exact hours and days vary by network.

Patrick Reich, CEO and co-founder of Bonnet, said: “This data will be welcome news for those looking to go electric but worried about not having access to a home charger.

“With the rollout of these innovative smart tariffs at public chargers, drivers are able to save hundreds of pounds annually – even with historically high electricity costs.”

Bonnet analysed recharging sessions undertaken through its app to create an average cost of those using peak tariffs, off-peak tariffs, and those combining off-peak with Bonnet’s Boost subscription – which further discounts driver costs by up to 15%.

EV drivers who used both off-peak tariffs and Bonnet’s Boost spent an average of £11.13 for a full charge – meanwhile those who did not take advantage of off-peak rates, and weren’t boost subscribers, spent a £16.19 on average for a full charge - an increase of almost 50% (46.5%).

Assuming normal use, over the course of a year, Bonnet’s data shows that EV drivers who take advantage of Bonnet’s Boost packages and off-peak tariffs can save £260 annually.

Reich said: “To make it easier for people to understand which chargers offer these tariffs, at Bonnet we’ve recently updated our app so drivers can easily find chargers with cheaper overnight rates. 

“We want to make it as easy as possible for people to switch to electric vehicles and help protect our planet, and so will continue to ensure EV drivers have all the information they need to reduce their costs.”

Total off-peak savings analysis based on analysis of driver charging habits

Source: Bonnett - data analysed by Bonnet during May 2023 of more than 100,000 drivers.