A new ‘smart’ electricity tariff has been introduced to offer electric vehicle drivers a cheaper, greener, home charging option.
Ovo Energy’s ‘type of use’ tariff could potentially reduce charging costs by 63 percent over the course of a year. This could equate to an average annual saving of £200, according to the Bristol-based energy supplier.
Whereas many energy tariffs are linked to time of use, Drive Anytime guarantees the same price regardless of it being day or night.
Optimal charging from AI technology
The Ovo Drive Anytime tariff will offer EV owners a flat rate of 6p per kWh.
By comparison, Ovo states that the average price from top suppliers is 16p per kWh.
Controlling the smart tariff is Ovo’s Kaluza technology, which uses artificial intelligence and machine learning for optimal efficiency. Kaluza constantly monitors weather conditions, demand on the energy network, and energy pricing trends.
The Drive Anytime tariff lets owners simply plug their car in, with Kaluza determining the best time to charge. Ovo believes this will allow drivers to benefit from cheaper energy prices, and greener sources of electricity.
Preparing the grid for future demand
Increased popularity of electric vehicles means ensuring the electricity grid can cope with demand will be a major future concern.
Ovo Energy believes that using technology like Kaluza will be increasingly important in shifting use away from peak times.
Marzia Zafar, head of strategy and policy at Kaluza, said: “Our intelligent software is designed to give EV users the energy they need, precisely when they need it, at the lowest environmental impact, and now at a guaranteed price that saves them money.”
At present, the Ovo Drive Anytime tariff is in an initial launch phase. A wider roll out to more Ovo Energy members later this year.
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