​Britain’s biggest energy supplier for electric vehicle owners has shaken up the market by cutting prices on its most popular ‘Go’ tariff. 

The new rates see the off peak cost drop by 0.5p per kWh to 8.5p/kWh, and users will gain an extra off-peak hour between 04:30 and 05:30am. This extra time will be of particular interest to electric car owners as it will allow them to take on an extra 7kW of power at the lower rate – enough for around 28 miles a day in the average EV.

Customers who are able to use the company’s Intelligent tariff will also see the off peak rate cut by 0.5p per kWh to 7p. Both packages also have lower peak costs, and in some cases standing charges, depending on where you live.

Using the criteria and figures we use for average household calculations, this makes the Intelligent tariff the cheapest and the only package which dips below £1,000 per year. Rival OVO is relegated to the runner up position with Octopus’ Go just £3 per year behind.

The company’s CEO Greg Jackson promised to take on the fixed costs, saying: “Unfortunately standing charges are still way too high. They exist because we and other energy companies get a whole pile of very high regulated costs on every meter…. I’m glad to see that it’s now an electoral issue and major parties are pledging to bring standing charges down.” 

In our table, Octopus had the third lowest standing charges, beaten only by Ecotricity and British Gas.