Ovo to launch ‘half-price’ electric vehicle charging tariff

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Ovo Energy plans to launch an electric vehicle charging tariff, at half the usual price, to compete with typical off-peak rates even when electricity demand is at its highest.

The UK’s second-largest energy supplier will set the tariff at a flat rate of 6p per kilowatt-hour no matter what time of day their customers choose to charge their vehicle, in direct competition with suppliers which offer cut-price charging during set hours overnight.

The supplier hopes to rival the so-called “time of use” tariffs which offer customers ultra-low rates as long as they charge when demand for electricity is low, and avoid charging when renewable energy is scarce and prices are high.

Instead Ovo’s “type of use” tariff will be less than half the typical rate from rival suppliers – without limiting the times when customers can charge – by automatically charging vehicles when prices are low. When prices are high, energy could be drawn back into the grid from the batteries of electric vehicles sitting idle.

+INFO: The Guardian

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