Experts are calling on drivers to make changes to their everyday habits to see if they can save hundreds of pounds every year by making a "simple switch".
According to new research, drivers of electric cars could save more than £400 a year by switching to a dedicated electric vehicle energy tariff.
The data shows that electric vehicle tariffs are now as cheap as 6.7p/kWh as more energy providers offer dedicated EV rates to customers.
This is despite the new energy price cap hiking costs for homeowners. On October 1, the rate of electricity jumped from 22.36p per kWh to 24.5p per kWh.
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Drivers could charge their electric vehicles for as little as 6.7p/kWh
ANDERSEN/PA
There had been fears that motorists would see their home charging costs spiral, although many tariffs will prioritise charging overnight to make use of the cheapest costs.
With an Andersen home charger and OVO's Charge Anytime tariff, EV drivers could see their costs plummet from 24.5p/kWh to just seven pence.
Petrol and diesel drivers can also see major benefits. Owners of vehicles with an internal combustion engine can see savings of up to £1,200 by switching to an EV.
At present, the price of unleaded petrol is 135.46p per litre, while diesel costs 140.47p. While prices have not risen dramatically, they are slightly more expensive than levels seen at the end of October.
The data, from RAC Fuel Watch, suggests that no further changes in costs will occur. This will be reinforced by the Chancellor's decision to continue the freeze on the rate of fuel duty.
Despite this, the data shows how petrol and diesel drivers see even bigger savings if they were to switch to electric with an EV-friendly tariff.
Compared to August 2021, petrol car drivers could be paying an extra £98.82 every month, resulting in a cost of £1,185.84 more per year than an EV driver would pay to charge at home.
David Martell, CEO of Andersen, said: "In Q3, nine domestic electricity providers were offering smart EV-specific tariffs, with a variation of around 2.5p/kWh between them.
"While it is positive to see that list expand to 12 providers in Q4, we would urge EV drivers to check the rate they are being offered.
"As with everything in life, prices can vary markedly and our latest Index has highlighted the largest price range yet, with p/kWh rates from 13.77p to just 5p."
According to data from Zapmap, there are an estimated 850,000 charge points installed at home or work, where the majority of charging still takes place.
In comparison, the latest data from the end of October shows there are 71,459 public charging devices across the UK, with more than 108,633 connectors.
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The research shows that petrol and diesel drivers could save more than £1,000 by switching to an EV
ANDERSEN
Experts believe the Government will be able to hit its target of 300,000 public chargers by the end of the decade to help give more drivers the confidence to check.
A spokesperson for HM Treasury told GB News: "We are committed to supporting our automotive sector as we transition to electric vehicles in order to meet our legally binding climate targets."
