Why would-be electric car buyers also need to think about their energy providers

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Thinking about buying an electric car? Well if you are the founders of a new startup say you ought to be re-considering your choice of power supplier too.

Laura and Mat Thomson, a pair of entrepreneurs from Monmouthshire hope to make it easier for you via their new tariff comparison website for electric vehicle (EV) owners PowerMyEV.

The founders claim EV drivers are missing out on savings of £330/year because they are not switching to the best off-peak energy tariff. This was borne out of their own experience of buying an EV in 2019. They wanted to know about energy tariffs that offered cheap overnight electricity but couldn’t find the information they needed.

The founders claim that by switching to an appropriate off-peak, or ‘time-of-use’ tariff households can not only save money but also lower the carbon-intensity of the energy they use. This means a household’s decision to buy an EV can lead to a much bigger positive impact than just cutting out a few tankfuls of petrol or diesel.

The Power My EV tool works in a simple way. Would-be EV buyers input their details including the type electric vehicle they hope to buy. The tool then compares multiple tariffs with different standing charges, pricing zones, and off-peak rates for the household.

“An average household is likely to see their energy use go up by over 60% when they switch to an EV and are charging at home. A smart, off-peak energy tariff could mean that your bills don’t actually increase.” said Laura Thomson, co-founder of Power My EV.

“Given that there was no easy way to check, we were not surprised to find that few EV drivers are regularly checking their energy tariffs for the best deals. In our survey, we found more than half of EV drivers never check their deal” said Mat Thomson, co-founder of Power My EV, “We’re hoping to change that, and are very excited to be helping maximise the potential for electric cars in the route to net zero.”



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