Octopus Energy To Treble EV Charging Costs In 2026
On December 6th, The Telegraph reported that Britain’s biggest energy provider is raising the cost of charging electric cars in a fresh blow to drivers
The article stated, in part:
Octopus Energy said it will restrict its cut-price electric vehicle (EV) tariff from the new year, in a move that could cost some drivers hundreds of pounds annually.
It comes amid rising household electricity prices and as EV owners face new taxes that have put the Government’s net zero targets under pressure.
Octopus’s Intelligent Go tariff is Britain’s most popular EV plan, used by 260,000 drivers – or more than one in 10 EV owners. It allows motorists to enjoy cheap household energy when their car is charging, significantly cutting the cost of running an electric vehicle.
However, the company has written to customers telling them that discounted charging will be limited to six hours a day from January.
Limiting use of cheap charging rates is likely to drive up energy bills, since motorists will pay peak rates roughly four times higher when they wish to charge their car for longer periods.
The whole EV tariff is a big con anyway. What you save on night time EV charging is lost through higher day tariffs.
The EV tariff is set at 8.5/kWh between 0.30 and 5.30 am, based on the typical Octopus Go package. My standard rate is 23.45p/kWh, so ostensibly I could save about £300 on charging an EV.
However, the Octopus Go rate for the rest of the day is 29.37p/kWh. Based on my current usage, I would have to pay an extra £285 pa. Standing charges are also £17 higher with Octopus Go.
Of course, if you need a full charge for your EV, it would take longer than five hours, incurring yet more cost.
The only way I could save money is if I switched loads of appliances on after midnight.
Editor’s note: Octopus is the company that has advertised in multiple places that most people will save money by switching to them, then they go and do this.
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Header image: Octopus Energy