World EV Day 2021 - 5 Ways Energy Suppliers Can Help EV Owners

Electric vehicles have increasingly made the headlines and hailed as one of the solutions to climate change. So much so that many energy suppliers have launched tariffs aimed specifically at EV owners. On World EV Day we take a look at 5 way energy suppliers can help EV owners.

Suppliers that move to - or offer as part of their suite of tariffs - 100% renewable electricity will be more attractive to customers who are driven by environmental factors and want to reduce their carbon footprint. You would need to ensure that such 100% renewable electricity tariffs are truly renewable and not offset, and not based on paying into the Renewables Obligation (ROCs) buy-out fund.

There has been some controversy over the 100% renewable claim made by some energy suppliers, with them being accused of gaming the system. Ofgem and the government have announced that they are taking action against energy suppliers caught deliberately 'greenwashing' their marketing and tariffs.

Also read: Government announces new plans to tighten rules around green energy tariffs and prevent greenwashing

Consider providing a bespoke EV tariff. This could be a special fixed-rate offering, an off-peak tariff, a discounted tariff for EV owners, or even a tariff that gives owners free electricity if they only home-charge their vehicles at night.

Several of the larger energy suppliers have introduced such tariffs but for new market entrants to compete they too will need to target this growing customer base.

Smart meters have a huge role to play here as their introduction means the advent of data as a whole new currency. You will be able to take the data from smart meters to create customer profiles, which can then be used to create new propositions, such as time of use (ToU) tariffs. Creating a ToU tariff coupled with smart charging capabilities would allow you and your customers to benefit from better pricing, hedging and consumption of energy.

Also read: What do Energy Supply companies need to consider when selling Electricity to EV owners?

Energy suppliers could tie-in partnerships with EV manufacturers and offer specifically designed tariffs and customer management for the lifecycle of ownership. This could be done through the inclusion of discounted charging, innovative upgrades and being able to use multiple charging companies all in one partnership. You could also consider tie-ins with third parties such as fuel filling stations, charging networks, battery manufacturers and raw material suppliers.



Also read: How to Improve Consumer Trust in Energy Suppliers?

Insufficient charging infrastructure is still regarded by consumers as one of the main barriers to EV ownership. Lack of on-street charging and multiple charging suppliers that require multiple subscription-based memberships are hurdles that need to be overcome.

 
Energy suppliers have the ability to plug these gaps. At least one is already providing on-street parking via lampposts, a model that opens huge potential for EV drivers. With the right network in place, customers would be able to ‘plug in’ to any lamppost on any street. This could allow suppliers to aggregate consumption to be passed through to consumers on one simple bill, reducing the need for multiple subscriptions, streamlining payments and simplifying ownership.

 
Suppliers would be able to partner with existing charging infrastructure suppliers and be the central repository for invoices and charges.

Data Savvy

Suppliers need to be smart with the data that can be gathered, and work with third parties to develop time of use tariffs and other ideas to help EV owners. The data from your customers and EV charging units will produce a mine of information from which you can develop smart solutions. These could encourage further adoption of EVs and better-aligned propositions.

Once data is analysed by an analytics platform, it could be used to develop policies for siting charging stations, create smart charging algorithms, solve energy efficiency issues, evaluate the capacity of power distribution systems to handle extra charging loads and determine the market value for the services provided by electric vehicles (vehicle-to-grid).

To find out more about how energy providers can help existing EV customers, contact us today.

Further Reading

PfP Energy and MoneyPlus Energy cease trading

Soaring gas prices and unreliable wind sees the UK turn to Coal to keep the power on

Energy Rationing Fears grow due to low UK gas reserves and Russian opportunism

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Through our energy market consultancy services, and the software we’ve developed, we’re supporting new UK electricity and gas suppliers to get set up and start supplying.

For more information on how to start and manage an energy company, get in touch with Dyball Associates today.

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