CASE STUDY: Saving £1,200 each year by using electricity at off-peak times

Meet the mother of two who saves over £1,200 each year by using electricity at off-peak times 

A business owner and mother of two saves over £1,200 each year* simply by using electricity at off-peak times.  

CashLady.com has partnered with Katrina Cliffe to demonstrate how Brits could save money by using electricity at off-peak times instead of during the day. Katrina lives with her partner and two children in Huddersfield, and has been a customer of Octopus Energy for around 18 months. Katrina commented:  

“Under the Octopus Intelligent tariff, I have paid a quarter of what I normally would by charging my electric vehicle during off-peak times. During peak hours, my rate is 28.15p/kWh; however, between the hours of 11.30pm and 5:30am, it‘s just 7.14p/kWh.” 

What do you charge overnight?  

“I use any heavy electric–using items, such as the dishwasher and washing machine, and I also charge my electric vehicle in order to take advantage of the cheaper rate. Overall, our electric bills range between £100 – £120 a month, which takes into account charging my Tesla Model Y, as well as general usage from cooking to charging electrical items.” 

What do you save the most money on by charging overnight?  

“I save the most on charging my electric vehicle, which we do most nights. As we don’t have an official charging unit, we charge our car from a 3-pin plug in our garage. Ultimately, this tops up the mileage I tend to do day to day, with our car travelling around 20,000 miles a year. To fully charge my car on the overnight rate costs approximately £4.”  

Is the cost of charging your EV cheaper than using a fuel-powered car?  

“The cost to charge my electric car is minimal in comparison to what I would spend on fuel, or when compared to a hybrid vehicle. Prior to having my Tesla, I had a hybrid car which would cost around £80 – £120 a month in fuel, depending on how much I used it.” 

Octopus Energy are not the only company where customers can take advantage of off-peak savings. Those looking to cut their energy bills by using electricity during the late evening and early morning hours can shop around by comparing the rates of different energy providers to find the right tariff for them.  

UK Energy Providers: average peak (day) rate vs average off-peak (night) rate 

Source: https://www.moneysavingexpert.com/utilities/economy-7/ 

Commenting on Katrina’s story, personal finance expert at CashLady.com, Dan Whittaker, said:  

“With the cost of electricity increasing on average by 6.7% in the past year, it’s always a wise idea to shop around. Be sure to compare different energy providers to find the cheapest tariff, and keep an eye out for any additional financial incentives that you can take advantage of, such as cheaper rates when you shift your energy usage away from peak to off-peak times. 

“Katrina’s story demonstrates that there are simple and convenient ways of reducing your electricity bill, particularly if you can charge heavy energy–using items during the night. We‘re glad to see that Katrina makes the most of her reduced tariff rate, charging her electric vehicle overnight so she‘s ready for the day ahead.” 

CashLady.com has released these comments in partnership with Katrina Cliffe to highlight how Brits can save money by using electricity at off-peak times. 

*Saving total based on charging a Tesla Model Y twice per week, costing an average of £4 (each time) on the Octopus Energy off peak rate, compared to £16 (each time) on the peak rate. This equates to a £12 saving each time, which multiplied by 104 (twice per week) makes an estimated annual saving of £1,248. 

Credit to https://www.cashlady.com/ who carried out the research