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Abu Dhabi, UAEThursday 13 December 2018

UK energy supplier launches electric car power tariff

Ovo Energy's EV Everywhere tariff offers customers a two-year fixed energy rate

Ovo Energy offers an EV power tariff and has also made EV sector acquisitions. iStockphoto.com
Ovo Energy offers an EV power tariff and has also made EV sector acquisitions. iStockphoto.com

The British electricity and gas supplier Ovo Energy has launched a new tariff aimed at drivers of electric vehicles, hoping to tap a growing market days after Britain announced a ban on the sale of new diesel and petrol cars from 2040.

Ovo Energy's EV Everywhere tariff offers customers a two-year fixed energy rate that also includes free membership of the Polar network of charging stations over that period.

Electricity consumption by electric cars is expected to rise as consumers opt for more environmentally friendly transport and the cost for batteries used in the cars falls.

Britain said last week it would ban the sale of new diesel and petrol cars from 2040 in an attempt to reduce air pollution.

Ovo estimates Britain will have at least 1 million electric vehicles on its roads by 2022, up from about 110,000 now.

"Mass adoption of electric vehicles will completely revolutionise the energy sector," said the Ovo Energy chief executive Stephen Fitzpatrick, who set up the energy company in 2009.

Users of Ovo Energy's new tariff will receive electricity from renewable energy sources, guaranteed by certificates proving its origin. The company said it was only Britain's third energy tariff targeted at electric vehicles.

The green energy company Ecotricity and the renewable energy supplier Good Energy also have tariffs for electric car users.

Alongside the tariff launch Ovo also announced two acquisitions: the electric vehicle charging point installer ChargedEV; and the electric vehicle technology research company Indra Renewable Technologies.

Ovo declined to disclose financial details of the deals.

The independent supplier made its first acquisition earlier this year when it bought the US smart grid start-up VCharge.

* Reuters