You pay part of your gross salary towards an EV (your non-cash benefit), and that money will be exempt from Income Tax or National Insurance. You pay the same amount every month (unless your tax bracket changes or there are changes in tax rules from the government).
Does octopus have an EV tariff?
Have an electric car and a home EV charger. Our Octopus Go Tariff is designed for customers who either own or long-term lease a battery electric vehicle or a plug-in hybrid vehicle that they’ll be charging at home, so you need one to join.
How much does it cost to charge an electric car with Octopus?
Octopus Go
Wake up to a topped up vehicle at the cost of just 7.5p per kWh. Fill up for a tenth of the price of a traditional car with Octopus Go, and keep your fuel costs around 2p per mile.
How does EV salary sacrifice work?
Salary sacrifice is a way to deliver a tax-efficient benefit to employees, at little or no cost to a given business. In this case, an EV salary sacrifice scheme allows an employee to pay for an electric car each month using their gross salary, before deductions are made for tax and other contributions.
How does Octopus EV work? – Related Questions
Can you still get EV tariff?
You can still switch your electricity to the EV tariff, while keeping your current supplier for gas. The only drawback is having to deal with two suppliers instead of one. However, some firms do offer dual-fuel EV tariffs, letting you switch both your gas and electricity.
What is the cheapest tariff with octopus energy?
❓Octopus Energy Tariff FAQs
The unit rate for electricity with Octopus is 13.15 pence per kWh and the standing charge is 21 pence per day. If you’re on an Economy 7 tariff, the unit rate during the day is 14.49 pence per kWh, while at night it’s 7.76 pence per kWh – the standing charge is the same.
Are EV tariffs worth it?
EV tariffs might not offer the best value if you use lots of electricity in your home that you can’t realistically shift off-peak or if your driving patterns mean you aren’t doing much charging at home. For many EV households though, an EV tariff could still be a good option.
What are Octopus smart tariffs?
Our beta smart tariffs are a whole new way of buying green energy, made possible by our unique tech. They’re unlike most other tariffs on the market because they rely on a smart meter system, which can be complex – that’s why these products are in beta! Here’s everything you need to know about going smart with Octopus.
Is Octopus putting their prices up?
The price rise will come into effect from 2nd April 2022 for customers on Octopus Energy’s standard variable tariffs.
What time Is electricity cheaper Octopus?
Octopus Go is an electricity tariff with a bonkers cheap 12p / kWh rate for four hours every night (between 00.30 and 4.30am).
Is Octopus Energy cheaper at night?
This means you pay less for any energy you use at night (usually between 12:00am and 7:00am) and more for energy used during the day (usually between 7:00am and 12:00am).
Is Octopus cheaper than British Gas?
They carry the burden of these costs, and they have no option but to pass on to their customers in the form of bigger energy bills. Let’s take a closer look. For Octopus, our standard variable tariff is currently about £121 cheaper than British Gas. That’s £923 vs £1044 for a medium user.
Should I fix my energy prices until 2023 UK?
You should only fix your energy prices until 2023 if you can source a cheaper fixed tariff than that of the October 2022 price cap increase.
Who is the cheapest energy supplier in the UK 2022?
Octopus Energy say setting their prices at £50 below the cap level will cost them around £50m in lost revenues over six months. £50 savings may be small, but it at least sets Octopus apart and allows us to say their SVT is the cheapest available from April to October 2022.
Is Octopus the cheapest energy supplier?
Our gas prices are still cheaper than any other large supplier. If your electricity is on a fixed or smart tariff, we’ve already priced your electricity as low as we possibly could (as though it includes the Loyal Octopus support).
Should I fix my energy prices until 2024?
You should fix your energy prices until 2023 if you can get a cheaper fixed than the October 2022 price cap increase. However, it is difficult to find an energy tariff worth switching to – and when a tariff becomes available, they are only up for a short amount of time.
Is Octopus energy taking on new customers?
New customers who switch to Octopus can choose its Flexible tariff to pay less than the price cap, and will automatically qualify for the Loyal Octopus support. If you are affected, you will be sent an email from the supplier explaining what the cost difference means to your bills.
Is Octopus Energy in danger of closing?
Is Octopus safe from collapse? Octopus founder Greg Jackson has reassured customers on Twitter. Responding to a question about whether the firm was at risk, he said: “No – as a global, very well backed company we’re fine but plenty more are not.
Is Octopus Energy likely to bust?
Octopus Energy reports close to breakeven financial results but predicts it will take a £100m hit from energy crisis. Greg Jackson, Octopus Energy Group CEO, said “2022 will be tough in energy.” Image: Octopus Energy.
Why is my Octopus Energy bill so high?
Why is there is an unexpectedly high charge on my statement? We know taking meter readings can be a bit fiddly (plus, chances are, you’re probably trying to avoid a spider or two). If you see a very unexpected charge on your bill, it’s possible the reading you gave was a digit too long, or too short.