Energy retailers are looking for ways to reward EV owners and encourage the uptake of EV. Energy and gas giant AGL has introduced the new “AGL Electric Vehicle Plan” enabling EV owners to earn bonus credits on their bill to reduce charging costs and offset EV’s expensive price tag.
And in the same week, Powershop, an electricity company selling energy in Victoria, NSW, South East QLD and South Australia, has introduced a new Time of Use tariff, which consists of a Daily Supply Charge, and then differing rates per kWh for Peak, Off Peak, Shoulder and now Super Off-Peak times.
What this means is that EV owners charging their vehicles overnight, specifically between the hours 12a.m. and 4a.m. on weekdays, will pay a significantly reduced rate. For example, if you live in NSW and your distributor is Ausgrid, you will be charged 39.60 cents/kWh at Peak times, between 2p.m and 8p.m. But in the new Super Off Peak period that rate drops to 9.02 cents/kWh.
Powershop introduced the new Super Off Peak tariff to support the growth of EVs, “encouraging Powershoppers to charge up instead of fill up. The deal requires a smart meter, and if you don’t have one, Powershop will provide one free of charge.
Powershop is Australia’s only certified 100% carbon neutral energy retailer, following in the footsteps of its parent company, Meridian Energy, Australasia’s largest 100% renewable generator. Meridian has a history of passing on the savings made by its renewable energy practices to its customers. Last year, Meridian dropped its rates after its acquisition of three NSW hydro power stations and the signing of three PPAs with two wind farms and the 200 MW Klamal Solar Farm in Victoria.
More recently, Meridian celebrated its renewable foundations by partnering with Garage Project, a Willington brewery, to launch its 100% renewably produced Turbine Pale Ale, a nod to the iconic Brooklyn Wind Turbine sitting above the New Zealand capital and owned by Meridian.
The Super Off-Peak offer currently excludes South Australia.
AGL’s “Electric Vehicle Plan” could see EV owners save up to 25% on their existing bill. Taking the same example as Powershop, a residential customer in Sydney (Ausgrid Network) could receive up to $480 in bonus credits over two years.
These offers are yet another boost in the accelerating uptake of EVs in Australia. Range anxiety and expensiveness are two of the main hindrances to the uptake of EVs and any alleviation, such as discounted charging rates, acts as significant encouragement to a market that is excited for EV uptake. The much anticipated, and indeed belated, arrival of Tesla’s best-selling Model 3 sedan on our shores early this month only attests to the market’s potential.
On the point of range anxiety, the Australian Renewable Energy Agency (ARENA) announced last month it would top up Evie Networks ultra-fast battery EV charging network throughout Australia’s highways with $15 million in federal funding.