Transport
‘Cobalt conspiracies & lithium lies’
Fully Charged’s Dan Caesar unpicks the myths around electric vehicle batteries.
10 July 2023
More than 500,000 drivers are dodging Britain’s soaring prices at the pumps by charging their electric cars on Intelligent Octopus Go, saving the average driver more than £850 a year compared with running a similar petrol car.
With petrol prices climbing back to a staggering £1.60 a litre following renewed conflict in the Middle East – the highest they’ve been since 2022 – millions of motorists are feeling an even tighter squeeze on household finances.
The pressure has become so intense that petrol theft has surged, with reports showing almost £200,000 worth of petrol and diesel now stolen from UK forecourts every day.
While petrol drivers are at the mercy of global oil markets, drivers on smart EV tariffs can avoid the pain at the pumps by charging at home when electricity is cheapest. For an average driver, that means driving for just 2p per mile.
New independent research from Cornwall Insight shows Octopus now powers 59% of all EV tariff customers in Britain – more than half a million drivers – making it by far the UK’s most popular EV energy tariff.
The report also found the number of households on EV tariffs has surged by almost 60% in the past year, reaching almost one million nationwide as more motorists look for ways to cut the cost of driving.
‘Every time petrol prices shoot up, drivers are left paying the price. It’s a reminder of how little control motorists have over what it costs to fill up a petrol car.
‘Electric cars offer a way out. Instead of being at the mercy of global oil markets, drivers can tap into cheaper, homegrown electricity and fill up for around 2p per mile, saving the average driver around £850 a year.
‘EV drivers have been largely insulated from the latest fuel price rises, and that’s a big reason why more people are making the switch.’
ALEX SCHOCH
Director of Electrification at Octopus Energy
Intelligent Octopus Go automatically charges compatible cars when electricity is cheapest – usually overnight.
Drivers simply plug in and choose when they need the car to be ready – the tariff does the rest, helping them save money without having to lift a finger.
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