EV owners using public chargers “save £260 a year”

Electric vehicle owners using public chargers overnight are on track to save up to £260 a year, according to new research.

The study, by EV charging app Bonnet, reviewed the habits of more than 100,000 drivers using its app. It looked at where and how drivers refuel their EVs, and found those using smart off-peak energy tariffs, which are increasingly offered by public charging networks, have already saved hundreds of pounds this year.

Off-peak tariffs are currently offered in the UK by several major charging networks, allowing drivers to take advantage of cheaper rates overnight – though the exact hours and days vary by network.

To undertake the analysis, Bonnet looked at all the recharging sessions 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 – but those who didn’t spent a hefty £16.19 on average for a full charge – an increase of 46.5%.

Assuming normal use over the course of a year, Bonnet’s data shows that EV drivers can save £260 annually, if using all incentives.

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.

“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.”

Image courtesy of Bonnet

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