Electricity price is essential factor in the deployment of electric vehicles (EVs) on large scale. In wholesale electricity market, EV charging stations(ECS) connected with suitably sized energy storage system (ESS) can save substantial amount of money by managing their time of utilisation (TOU). In this study, a real-time EV charging model at ECS along with ESS degradation model is considered to analyse effect of the ESS for TOU pricing benefits. The objective is to minimize the EVs charging cost. The proposed algorithm focuses on real-time energy management using combination of heuristic approach and deterministic approach. The algorithm analyses electricity pricing trend using historical and forecasted statistical data and controls the power imported from the grid, while feeding dynamic EV charging load. Significant amount of cost saving is seen in results due to deployment of ESS in utilizing TOU pricing benefits of wholesale electricity price.