A new British Gas report shows that electric vehicle (EV) tariffs can save the average driver up to 2,287kg in CO2 emissions and up to £332 in costs annually, with an estimated average saving per charge of £7.08 compared to a Standard Variable tariff.

Using the British Gas EV Tariff Calculator, drivers can gather estimate costs tailored to their car and mileage, comparing the British Gas EV tariff rate against either their current tariff rate or a rate matching the current OFGEM price cap rate, as well as comparing against public charging costs.

According to the results, the average driver on a Standard Variable tariff linked to Ofgem’s price cap rate can save an estimated £7.08 on each charge and up to £332 annually by switching to the British Gas EV tariff.

This cost-saving is even higher when compared to public charging costs, where EV owners can save up to £30.76 per charge and a huge £1,441 annually by joining the British Gas tariff, compared to rapid/ultra-fast public chargers. Costs are also cut when compared to slow/fast chargers, with average drivers saving £20.51 per charge and £961 annually.

The findings also show that switching to an electric car can reduce your environmental impact by up to up to an estimated 2,287kg of CO2, making your energy usage more affordable and sustainable. That’s equivalent to burning around 1,143kg of coal, or 972 litres of petrol, according to calculations by British Gas.

Paul Lodwidge, Head of Energy Product & Propositions at British Gas says that switching to an EV tariff is one of the most efficient choices to lower running costs as an EV owner.

He says: “With the growing number of electric vehicles on the roads, keeping on top of the best charging tariff will help EV owners save and improve their carbon footprint. Public chargers aren’t always convenient, so we’ve made it easier and cheaper for drivers to charge at home. This change can you save hundreds – and sometimes even thousands – compared to a standard tariff or a public charger.”

“Make sure to look into tariffs that have the option of on-peak and off-peak hours, so that you can use low times to make the most of your energy. If you’re choosing to charge your car at night (which will help your bills in the long run) you’ll see a significant improvement in the affordability of your driving.”

According to British Gas, its Hive SmartCharge service offers the most affordable way to charge an electric vehicle in the UK. These savings are automatically credited to users’ monthly energy bills, providing a hassle-free way to reduce costs while charging sustainably at home.

For more information on the costs of running an electric vehicle, read our article comparing public charging stations and home charging stations. To view the full British Gas research or to get a personalised estimate using the EV tariff savings calculator, visit the British Gas website. 

Sources & methodology:

Using the off-peak British Gas EV electricity rate (currently 7.9p per kWh), calculations show how much it would cost you to charge your specific electric vehicle per charge and year with British Gas. Calculations are based on yearly miles driven inputted, as well as the battery size and battery efficiency (kW/ mile) of the vehicle (source: ev-database.org).

The British Gas EV electricity rate calculations are compared to the average default tariff set by the energy price cap rate (24.5p per kWh) as well as the cost of slow/fast public chargers and ultra-fast/rapid chargers.

Sources:

• Average Ofgem energy price cap rate (source: ofgem.gov.uk)

• Cost of slow/fast public chargers and ultra-fast rapid chargers (source: zap-map.com)

• A full charge is considered charging from 20% to 80%, based on guidelines to maintain battery health.  

• CO2 emission savings were calculated by multiplying the number of average car miles with the number of CO2 per mile, based on a typical medium petrol-powered car emitting 309g CO2 per mile (source: 8billiontrees.com) and an average of 7,400 miles annually (source: britanniacarleasing.co.uk).