One of the UK’s largest EV rapid charging network InstaVolt has introduced off-peak pricing to encourage motorists to take advantage of cheaper electricity.
From the beginning of September, drivers will be able to charge for 54p per kWh, between the hours of 10pm and 6am across InstaVolt’s network of more than 1,600 rapid chargers – more than a third off the regular price of 85p per kWh.
The lower off-peak rate is being introduced initially to InstaVolt App users and will be extended to contactless users before the end of the year as the technology is developed, it said.
Further advances are also being made to support variable pricing solutions, including additional time-of-day and regional pricing, the firm said.
With the recent change of government, InstaVolt said it would lobby on the decision on public charging VAT being charged at 20%. It added that the firm would pass any reduction in VAT onto our customers immediately, whether charging day or night.
The Basingstoke-based business currently operates over 1,600 live chargers and has more than 400 in construction across the UK as well as operating in Iceland, Ireland, Spain and Portugal. The company plans to install 11,000 ultra-rapid chargers in the UK and Ireland, and continue its European expansion, with 5,000 chargers across Spain and Portugal, and more than 300 in Iceland by 2030.
Delvin Lane, CEO of InstaVolt, said:
“We’ve brought off-peak pricing in across our network ahead of our planned schedule as we wanted to offer this excellent price before we go into the colder months, giving InstaVolt users this saving now.
“We know the winter presents extra challenges, and we’re mindful that the cost-of-living crisis is still affecting people, the price of energy is also set to increase following the recently announced October price cap. Charging during our off-peak hours will create a significant reduction for customers ahead of this rise. Our new tariff will have the benefit of offering motorists who can’t charge at home, a cheaper rate of electricity.
Image courtesy of InstaVolt
