Martin Lewis warns millions can secure 'cheap electric charging' with simple tip

Martin Lewis has revealed how motorists can secure 'cheap electric charging' (Image: ITV)

Martin Lewis has warned almost two million motorists can slash motoring costs by following a simple tip. 

The Money Saving Expert founder suggested motorists with electric vehicles could make savings by signing up to a special EV tariff. 

These plans tend to offer cheaper rates at certain times of the day allowing road users to save by topping-up overnight.

Securing an EV tariff is not difficult but motorists have been warned that there are two types of policy road users have to be aware of. 

The finance guru made the remarks on the latest series of his Martin Lewis Money Show which airs on ITV. 

EV charging tariffs can help drivers save money (Image: Getty)

He said: “So if you’ve got an electric vehicle the first type is an add-on tariff where you get a cheaper rate only to charge your car.

"It is only for charging the car. You pay around a third of the normal electricity rate for charging your car. 

“Now with those, Ovo and Scottish Power, you basically get any of the normal tariffs and add this electric vehicle charging thing on.

“So Ovo actually has a relatively cheap fix, about five percent less than the current price cap but you can get cheap electric vehicle charging.

“The alternative way is where they give you a cheap price, say between midnight and five in the morning, and then any electricity you use, whether it's an electric vehicle or not, is at the cheaper rate. 

“That’s how Octopus works. That's how British Gas Electric Driver works, EDF GoElectric Overnight works.”

According to GoCompare, an electric vehicle can increase household energy use by as much as 50 percent. 

They stress that an EV tariff is “likely to be a better bet” and promise that policies will likely help keep bills down.

With 1.9 million electric or hybrid models now on UK roads, securing an agreement could be vital for cash-strapped individuals.

Martin added: “Now roughly, and it varies, but you pay about a third again of the cost to charge at night than you would do on the normal day rate which is about the price cap. 

“So trying to do some rough maths on it, I would work out that if a total of 10 percent of your electricity usage is at night, you would save more because of the very cheap night rates than you would by being on the cheapest fix at the moment.”