When choosing an EV tariff, one of the biggest decisions is whether to go for a fixed or variable rate. Both have their advantages, but the best option depends on how much stability you want in your energy costs and whether you’re willing to take a risk on price changes.
- Fixed off-peak rate of 8.5p/kWh between 12am–6am for 12 months
- No exit fees
- E.ON Next Drive Smart is currently E.ON Next’s cheapest EV tariff
- Smart features and eligibility rules apply, so it suits drivers who can reliably charge overnight
- E.ON Next Drive Smart currently advertises an off-peak rate of 8.5p/kWh. E.ON Next Drive advertises 9.5p/kWh between 12am and 6am. Prices and eligibility can vary by tariff structure and customer setup.
* Next Drive Fixed v7 offers fixed priced overnight EV charging 6.7p/kWh between 12am and 7am versus Next Flex standard variable tariff at 27.03p/kWh (national average and will vary by region).
** Next Drive electricity backed by 100% renewable sources, E.ON’s renewable generation assets, agreements with UK generators and the purchase of renewable electricity certificates. The electricity supplied to your home comes from the National Grid. Smart meter required. Exit fees and T&Cs apply.
What Is a Fixed EV Tariff?
A fixed tariff locks in your electricity rate for a set period, usually 12 or 24 months. This means you’ll pay the same price per kWh for the duration of your contract, no matter what happens in the wider energy market.
Pros of a Fixed Tariff:
- Price stability – You know exactly what you’ll be paying, making budgeting easier.
- Protection from price rises – If energy costs go up, you won’t be affected.
- Peace of mind – No surprises on your energy bill.
Cons of a Fixed Tariff:
- Less flexibility – If prices drop, you’re stuck paying the higher fixed rate.
- Early exit fees – Some fixed tariffs charge a penalty if you want to switch before the contract ends.
Fixed tariffs are a good choice if you prefer predictability and want to avoid the risk of rising electricity prices.
What Is a Variable EV Tariff?
A variable tariff means your electricity rate can go up or down depending on wholesale energy prices. Your supplier can adjust rates at any time, so your bills may fluctuate.
Pros of a Variable Tariff:
- Potential savings – If energy prices drop, your rates could go down too.
- More flexibility – Most variable tariffs don’t have exit fees, so you can switch at any time.
Cons of a Variable Tariff:
- Unpredictable bills – If prices rise, your costs could increase suddenly.
- No protection against market spikes – You could end up paying more if energy demand surges.
Variable tariffs can be a good option if you don’t mind some uncertainty and want the freedom to switch if better rates become available.
Which One Should You Choose?
The right choice depends on your personal preference:
- If you prefer stability and budgeting certainty, a fixed EV tariff is the safer option.
- If you’re willing to take a chance on fluctuating rates, a variable tariff might save you money, especially if energy prices fall.
Some providers, like Octopus Energy, offer a mix of both—allowing customers to switch between fixed and variable rates depending on market conditions.
For most EV owners, the priority is getting the lowest off-peak charging rates, so it’s worth comparing both fixed and variable EV tariffs to see which offers the best deal for your specific charging needs.
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John is the Editor and Spokesperson for Electric Car Guide.
With over 20 years of writing experience, he has written for titles such as City AM, FE News and NerdWallet.com, covering various automotive and personal finance topics.
John’s market commentary has been covered by the likes of The Express, The Independent, Yahoo Finance and The Evening Standard.
