[Spen.H]

Hi, I'm just doing my expenses for at 400mile business trip and have realised that I can only claim 5p/mile as recommended by the Government?
I am currently getting approx 2.7m/kWh. If charging on a motorway at 43p/kWh, I am going to be quite a lot out of pocket. My home rate is fixed at 21.13p/kWh, so still out of pocket.
Am I missing something, or have I messed up getting an EV company car?

[GDEvans]

Think how much better you feel by not killing polar bears and penguins as you drive. Surely that reward must outweigh any financial disadvantages.

If you were to change to a different electricity supplier you could charge for 5p/kWh at night. And the supplied BMW Charging offer allows you to charge at IONITY for 26p/kWh, and at a similar price at BP chargers. That would work out at an average of about 5.7p/mi.

You also have to take into account the significant tax savings by having an electric company car. I estimate my personal tax savings to be about £5500 per year. And due to the lower running costs for EVs resulting in a lower lease cost, I was able to get a significantly better EV compared to the petrol and diesel vehicles available to me.

[The shadow]

I doubt you will get 5p/kwh now by switching and even if you could it will be for approx 4hours and I bet the standing charge will be very high.
Unfortunately the way energy prices are going, it’s only going to get worse which is going to affect the ev market.

[HighlandPete]

I'm interested in home charging... Are some still on such low tariffs as 5p/kWh? I've not researched it, but is this a special tariff for EV, or simply an older fixed off peak rate?

My current off peak is now over 18p/kWh, coming out of a fixed rate deal.

[KSTR35]

I'm with EDF on their GoElectric35 tariff, which is 4.5p p/kwh between midnight and 5am everyday which is fixed until Aug 23. This is still on offer from EDF, and you can fix until June 24.

[Spen.H]

The problem with EDF GoElectric 35 is that there is a daily charge of 36.11p and the peak charge is 36.41p/kWh

[supersebbo]

Octopus have unfortunately suspended new customers joining their 'Go' tariff but I think you can join a waiting list.

I was able to get in just before they froze it and am fixed on 15.6p/kWh during the day and 5p/kWh between 00:30 and 04:30, which is pretty incredible pricing given the state of the market at the moment.

I have no idea how long it will last.

[supersebbo]

I stand corrected, they are accepting people onto the tariff again but unfortunately the rates have gone up significantly.

7.5p per kWh at night for EV charging
30p per kWh the rest of the time

Still, if you can limit you charging to those times, 7.5p per kWh would be approx 2.7p per mile so you'd still cover your costs on the mileage front.

To get it you first join Octopus, then get (or confirm you have) the right Smart Meter, then 'add-on' the Go tariff to your account.

https://share.octopus.energy/super-mink-741

[The shadow]

Yea but what’s their daily standing charge?? What I outlined at earlier…you may think your getting your electricy cheap but the standing charge put pay to that!

[The shadow]

I fixed for 2 years last sept, 13p night rate (7 hours) and 22p day rate with a 10p a day standing charge

[KSTR35]

Originally Posted by Spen.H

The problem with EDF GoElectric 35 is that there is a daily charge of 36.11p and the peak charge is 36.41p/kWh

Yes, the EDF rates are high now. I got lucky with my timing as my day rate is 19p with a 20p standing.

Of course, there will be cheaper day and standing rates out there, but when I charge c40-50% battery a night, the night rate works for me.

[thecork]

As others have said tho, the significant tax saving on a company EV will also contribute to this, tho I agree the advisory rate probably needs looking at compared to the electric cost. No different to regular fuel though, I always found myself out of pocket compared to the advisory diesel rate compared to fuel rate. Remember tho, it's exactly that, advisory - companies can pay more - i successfully proved to my company how much out of pocket I was and they started paying me more.

[supersebbo]

Originally Posted by The shadow

Yea but what’s their daily standing charge?? What I outlined at earlier…you may think your getting your electricy cheap but the standing charge put pay to that!

You'd be surprised how quickly the standing charge gets covered when you have an EV. The 'Go' standing charge is 25p.

I put 28kWh of energy into the car each night so...

'Standard' Tariff - 20p standing charge plus 28 x 21p unit rate = £6.13
'Go' Tariff - 25p standing charge plus 28 x 7.5p = £2.35

So even if the standing charge was £1 a day, you'd still be making significant savings.

Not saying it works in every case with every tariff variation, but worth doing the sums.

[supersebbo]

Also note that the standing charge makes very small overall impact to your annual bill.

20p/day standing charge = £73
25p/day standing cahrge = £91 (+£18 over a whole year)
30p/day standing charge = £109 (+£36 over a whole year)

£36 is just one full charge on an ionity public charger at 43p per kWh.

[GDEvans]

Originally Posted by thecork

Remember tho, it's exactly that, advisory - companies can pay more - i successfully proved to my company how much out of pocket I was and they started paying me more.

Is it not a taxable benefit if they pay more than the advisory rate?

[thecork]

Originally Posted by GDEvans

Is it not a taxable benefit if they pay more than the advisory rate?

Originally Posted by GDEvans

Is it not a taxable benefit if they pay more than the advisory rate?

Not if you provide proof that the actual cost was higher than the advisory rate. If they blindly pay above the rate then this is subject to tax and NI as a BiK but as I say, not if you supply proof