EDF launches new EV energy deal it claims is the cheapest available

Energy firm EDF has unveiled an electricity tariff it claims is the cheapest in the UK for charging EVs – and will save customers up to £160 a year.

EDF claims the deal is the cheapest of all the EV electricity tariffs, costing a typical household £1,177.43 a year for typical electricity use and mileage – for all electricity, not just charging a car.

That works out just £1.04 a year less expensive than the next-cheapest tariff, from British Gas, but £157.37 cheaper than the priciest, from Scottish Power, according to Pod Point

The new ‘Pod Point EV Exclusive’ energy deal launches today for new customers of Pod Point, the EV charger manufacturer.

Interested customers will need to order a Pod Point Solo 3 charging unit to access the tariff, which costs from £999 to buy and have fitted. 

Any who ordered this charger after October 18 will be eligible for the energy tariff. The 7kw charger can be used with any EV. 

Customers will also need to have a smart meter fitted to their property to be eligible. 

Andy Palmer, Pod Point chief executive – and former boss of Aston Martin – said: ‘We know consumers are most likely to charge their cars overnight at home, making sure that – just like the mobile phone on their bedside table – it is ready to go when they need it, whether that’s for the school run or the morning commute. 

‘This tariff will make home EV charging more affordable for thousands of households across the country, whilst still providing a competitive peak rate to deliver the overall cheapest EV tariff.’

Speedy charging: The Pod Point charger costs from £999 and can be fitted within two weeks

How does the deal compare?  

The tariff charges 7.4p per kilowatt hour (kWh) for energy used between its off-peak time of 12am and 5am, when customers can set their electric car to be charged up using an app.

During the rest of the day the energy deal charges an average of 30.90p per kWh.

Currently the average electricity unit rate is 27.35p per kWh for the majority of households on energy deals limited by the Ofgem price cap, so the EDF deal is slightly more expensive.

Likewise the EDF daily standing charge is slightly more expensive than average, at 53.37p. The typical standing charge for a price-capped tariff is 53p.

A Pod Point spokesman said customers who ordered a Solo 3 charger would get it fitted within two weeks.

The tariff is fixed for one year, and before the term runs out customers on the tariff will be contacted by EDF with alternative rates.

Additionally the deal is for electricity only, meaning customers with a gas supply to their homes need to take out two energy deals if they opt for the EDF tariff.

EDF has owned most of Pod Point since an acquisition deal in 2020.