Competition to attract Electric Vehicle owners heats up as EDF launches new EV specific Tariff

‘Cheapest ever tariff’

How can energy suppliers appeal to EV owners?

With the EV market predicted to explode in size over the coming years, energy suppliers should be seeking to get involved in the massive potential of this target market.

More and more consumers are now green energy conscious, and according to data, the number of consumers that take whether a supplier sources its energy from renewable sources is gradually growing in importance. The cost of energy bills remains the top concern.

To attract EV owners, an energy supplier should introduce new tariffs explicitly aimed at them. They should offer benefits such as cheaper electricity overnight or offer rewards to consumers who charge their vehicles.

Green tariffs too have risen in popularity, and these can be adapted to include Electric vehicles.

Energy suppliers could also get involved in the push for introducing more charging stations throughout the country.

Currently, there are concerns that there is not enough infrastructure in place to make EV ownership viable in all corners of the country; an Energy supplier could get involved by providing charging points.

Energy suppliers could also use the growth in the EV market as a way to promote and encourage the adoption of smart meters as they will play a significant role in helping consumers better manage their energy usage and therefore be ‘greener’.

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

Expanding market

Challenger energy suppliers are launching new EV tariffs, and since last year when just a few were on offer, the market is rapidly expanding.

With the latest consumer switching data showing that more consumers than ever are leaving the larger more established energy suppliers, challenger suppliers need to ensure that they stay ahead of the curve if they are to continue to snap up market share.

One thing is clear; the EV tariff market is sure to continue to heat up over the next few years.

Further Reading

Is ‘Green Energy’ really good for the environment?

Ofgem to increase monitoring of Green tariffs and put an end to ‘Greenwashing’

Smart Meter Installations rebound strongly and held steady during Lockdown 2.0

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