The Gexa SavEV 12 plan is a one-year, fixed-rate electricity plan tailored specifically for electric vehicle (EV) owners who can charge their vehicles at home, especially during late-night hours. Let’s break down how this plan works and what you need to know before signing up.
The Gexa SavEV 12 plan offers a fixed rate for electricity over a 12-month period, meaning your energy rate won’t fluctuate due to market changes during this time. This predictability can help with budgeting your monthly electricity costs. The plan is structured to provide significant savings for those who can take advantage of its key feature: the Nighttime EV Charging Credit.
Nighttime EV Charging Credit:This is the plan’s standout feature. If you charge your EV between 11:00 PM and 4:59 AM, from Monday to Sunday (including holidays), you’ll receive a credit equal to the energy charge per kWh for all the electricity used during these hours. In essence, this means you get free electricity for charging your EV at night, which can result in substantial savings if you regularly charge during these times.
Energy and Delivery Charges:
Average Costs:The average cost per kWh varies based on your total energy usage and your charging habits. For example, if your monthly usage is around 1,000 kWh, with 300 kWh assumed for EV charging (90% during nighttime), the average cost comes out to 16¢ per kWh. However, your actual cost may differ depending on how much charging you do outside of the nighttime hours.
This plan is particularly well-suited for EV owners who have the flexibility to charge their vehicles at home during late-night hours. If you can consistently charge during the designated nighttime hours and connect to Gexa’s telematics, the Gexa SavEV 12 plan could lead to significant savings. However, if your schedule doesn’t allow for nighttime charging or if you can’t connect to the telematics platform, you might want to consider other options.
