Cost of charging an EV is increasing quicker than diesel and petrol prices

Cost of charging an EV is increasing quicker than diesel and petrol prices


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The average cost of charging an EV has increased by more than a fifth due to the soar in electricity prices. A recent analysis carried out by the RAC showed that the cost of charging an EV using pay-as-you-go public chargers in the UK has risen by over 20 percent.

The RAC added that drivers will now have to pay 44.55p per kilowatt-hour.

This in turn means that the average cost to complete an 80 percent rapid charge of a typical family-sized electric car with a 64kWh battery has increased by £4 since September last year.

The cost now stands at £22.81 compared to £18.81 at the end of last summer.

Nonetheless, the cost is still greater for drivers who own a 55-litre petrol car.

It would now cost motorists just under £75 to fill 80 percent of the tank.

This marks an increase of £14.54 from £59.67 since September.

The E&T magazine reported that the cost of topping up electrically-powered vehicles is still nearly half the cost per mile compared to filling a petrol-powered family car.

The huge increase in prices of electricity has been driven up by the hikes in the cost of gas.

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The prices of gas have almost doubled since the end of September.

However, the price of electricity rose by a whopping 65 percent in the same period.

With the pressure mounting, Rishi Sunak introduced a windfall tax on oil companies earlier this week.

This was done in order to provide some discounts on people’s energy bills this coming winter.

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FairCharge, a new national campaign for EVs, is now also pushing for the 20 percent VAT rate on public chargers to be cut down to five percent.

The RAC has recently joined in with the efforts.

The RAC’s electric vehicle spokesperson, Simon Williams, said that the current tax rate is “bizzare”.

He added: “Just as the price that drivers of petrol and diesel cars pay to fill up at the pumps is driven by fluctuations in the world oil price, those in electric cars are affected by gas and electricity prices.

“But while electric car drivers may not be immune from the rocketing price of wholesale energy – most notably gas, which in turn dictates the cost of electricity – there’s no doubting that charging an EV still represents excellent value for money compared to filling up a petrol or diesel car.”

Quentin Willson, founder of the FairCharge campaign, said: “Keeping a watch on charging prices is essential to make sure the electricity for charging up EVs never gets close to the cost of filling up with diesel. EV drivers need free-to-access data on charging prices across the country.

“And charging operators need to know that everybody is watching.”

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