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EV Charging Costs Surge as Octopus Limits Cheap Power
11 Dec
Summary
- Octopus Energy now limits cheap EV charging to six hours.
- Many EVs take over 10 hours to charge, incurring higher costs.
- EVs still expected to be cheaper to run than petrol cars annually.
Starting January 2025, Octopus Energy will implement a six-hour limit on its super-cheap smart charging for EV owners on the Intelligent Go tariff. This restriction means that charging sessions exceeding six hours will incur peak electricity rates for the additional time, potentially adding hundreds of pounds to annual bills. Many electric vehicles, particularly those with larger batteries, require over 10 hours to fully charge using a home charger.
This change affects a significant portion of the 260,000 users of Octopus's most popular EV tariff. For instance, a full charge for an MG4 Long Range, which takes approximately 9.5 hours, will now cost £9.40 instead of £4.66 if charged solely at off-peak rates. Similarly, a Porsche Macan EV and a Tesla Model Y will see substantial price increases for full charges.
Despite these new limitations, electric vehicles are still anticipated to be more cost-effective than petrol cars. The Energy and Climate Intelligence Unit estimates that EVs could remain around £1,000 cheaper to run annually, even with the introduction of a 3p per mile road tax for EVs starting in Spring 2028. Other energy providers currently do not plan similar restrictions.
