The New Energy Price Cap is Coming - what does it mean for EV owners?

In the last 6 months, there has been a record rise in Global energy prices and unfortunately they are not expected to drop any time soon. Although these price surges are affecting everyone, those with Electric Vehicles may feel more concerned than most. While there is no magic wand to bring down the cost, there are few ways you can make sure you are minimising your electricity bill.

 
Have a look at a few easy ways to check if you are on the best tariff or not:

·      Are you on a fixed-term energy tariff?

If YES, you are probably getting the best deal that you can. If your tariff was decided before this energy spike- you are winning! It would be wise to hold onto it wherever possible.

If NO, you are likely on a standard variable tariff, which may still be the best option for you but it is worth double checking. Find out what your rates will be after the new price caps are applied and make sure you are aware of how much it could affect you.

·      Current rates

Find out what your energy provider is charging you and on what basis. Is there a way to use their rates to your advantage, e.g. make sure your EV only charges during the cheapest times? Have you set your charger / car to only charge during those times? CHECK! It could save you a small fortune.

·      Find options

Maybe you are already in the best tariff possible, but wouldn’t it be nice to be sure? No matter what situation you are in, there are always options, and it never hurts to have all the information before making a decision. Keep an eye out for tariffs that are EV specific. A good example is OVO's Drive tariff. It is built specifically for EV owners, is based on a fixed rate and provides energy from natural sources. REMEMBER if you are a Zoom customer- you also get £50 credit on your account.

You can easily get a quote by clicking HERE and finding out if it’s worth changing to.

·      Government subsides

Although the Government is raising the price cap on energy, they are also searching for ways to help families manage the increase. While the details are still being ironed out, the Government is planning a £200 rebate scheme for energy bills, and it is expected to be active by October 2022. It may not make up for the entire price difference, but it could make a substantial impact once it arrives.

ZOOM EV's TOP TIPS!

Utilise free charging!

We all have to do our grocery shopping, so why not plug-in whilst you do your shopping? Whether it's the 7kWh Podpoint at your local Tesco or the 22kWh New Motion chargers at Aldi, it's worth getting as much electricity as you can!

FREE RAPID CHARGING

Have you utilised your 1 month free rapid charging via Osprey? If not, what are you waiting for? You could save money and charge quickly!

If you have any thoughts or other suggestions, please share them with our EV community and let us know!

Many thanks,
The Zoom EV Team