Electric cars are up to 90% cheaper to run than diesel and petrol options

Thinking about making the switch to electric? New data from OVO reveals that electric cars are up to 90% cheaper to run over their average lifetime compared to traditional petrol or diesel vehicles.

Over the course of 8 years—the average lifetime of a car—electric car owners who use OVO’s specialist Charge Anytime add-on can enjoy significant savings, thanks to the discounted electricity rate.

Even on variable electricity tariffs, electric cars are still around 60% cheaper to run annually compared to diesel cars or 67% compared to petrol cars. For example, when you look at an average annual mileage of 6,600 miles, a fully electric Vauxhall Corsa costs around £400 to run. This is dramatically cheaper (63%) than its petrol alternative, which costs around £1,100.**

And OVO customers who charge their vehicles at home with the Charge Anytime add-on save even more, paying just 7p per kWh (around 2p per mile). This adds up to an average yearly fuel saving of around £900* for a diesel car and over £1,060** for a petrol counterpart.

Electric cars have never been more affordable to run - and have the added bonus of not emitting any harmful emissions, making them better for your wallet and better for the planet.

Check out OVO Charge Anytime (https://www.ovoenergy.com/electric-cars/charge-anytime) for more information on the UK’s cheapest home charging offering.

*Based on average diesel price of £1.46 p/l in August 2024**based on average petrol price of £1.41 p/l in August 2024