OVO Energy has launched an electric vehicle (EV) charging smart tariff that is claimed to slash costs by 63%.

The new offering is designed to give the drivers the chance to charge their EV at any time of day with a fee of 6p per kilowatt-hour.

The company said the new tariff could save its customers £200 on fuelling their car throughout the year, compared with the average cost of electricity on a standard tariff, consumers.

The energy company’s tech arm, Kaluza, is using algorithms to shift EV charging to greener and cheaper times, away from peak times of the grid.