Public fast EV charging up 50% in 8 months

Cost increase of Public EV Charging Petrol and diesel prices drop Long Journey costs at parity

VAT anomaly affects 2-3 owners EV sales are on the increase 

The Cost of Public EV Charging

The cost of using rapid public EV chargers, which electric car drivers depend on when taking longer journeys, has risen by 50% since May 2022.^[1]

According to the RAC, the average cost is 70.32p per kWh to rapidly charge on a pay-as-you-go basis, up from 44.55p in May 2022. 

Increased wholesale electricity costs drive the rise, meaning drivers now pay £36 to charge a typical family-sized electric car with a 64KW battery to its 80% limit, enough to cover around 188 miles. This is now more than twice the cost of charging the same car at home, with an 80% charge coming in at just £17.87 despite the high domestic energy prices.

Additional information from the  RAC states drivers using rapid chargers now pay 20p per mile for their electricity, only a penny less than those using less common ultra-rapid chargers, which pay 21p per mile.

These costs are higher than the equivalent pence per mile rate for a petrol car that achieves an economy of 40 miles to the gallon (17p per mile) and is on a par with a diesel car achieving the same economy(20p per mile)

Petrol below £1.50 a litre for the first time since Russia invaded Ukraine

Prices of petrol have fallen below £1.50 ^[2] for the first time since Russia invaded Ukraine, according to the AA. Pump prices were at a record of £191.53 a litre in early July 2022, but by Jan 2023, they had d dropped to £149.74 p; however, diesel prices remain higher than they were this time last year at £172.21p per litre.

Electric cars Longer Journeys now cost more than petrol!

According to the new RAC data, topping up an electric car for long journeys now is more expensive than filling a car with petrol.^[3]

Charging an electric car at home is still cheaper than buying at the fuel pumps; however, on long journeys, electric car drivers have to plan to use rapid chargers at critical locations along the journey.

Another reason behind the increased cost and the sky-high energy prices is that  VAT is charged at 20% on electric supply via public charging networks, compared to the 5% of domestic energy use.

Unfair Taxes? for EV Electric Cars Charging

According to the Fair Charge campaign, fronted by automotive journalist Quentin Wilson,^[4] EV motorists are being penalised into paying four times the VAT rates for electricity than domestic users.

UK new car sales hit a 30-year low, but EV demand soars.

Electric vehicle registrations continued to grow in the second half of 2022, accounting for a fifth of all UK registrations. PHEV (plug-in hybrid) and BEV (battery electric vehicle) accounted for 27.7% of new car registrations in November 2022^[5], according to the SMMT.

The SMMT also called for urgent government action to deliver a charging infrastructure and support EV uptake to deliver UK’s ambitious net-zero targets.

With only 7 years before the ban on the sale of new petrol and diesel cars and vans and EV sales increasing, access to affordable public charge points is a priority as only one-in-three households can charge their vehicle at home.

With the excess VAT on public charging and ever-increasing wholesale electricity prices plus the looming end of the exemption from excise duty, it will be a difficult sell to customers who are reluctant to move over to an electric vehicle in the first place.

Erin Baker, from Autotrader, summed the mood up nicely, stating affordability will be the biggest problem to overcome during the cost of living crises saying, “EVs need to be easier to afford, charge and buy to continue the positive sales trajectory and ultimately to meet the government’s target”^[6]

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