UK’s EV Charging Costs have increased dramatically
An RAC’s report also found that the cost of EV charging has been increasing at a much faster rate in the UK than in other countries. Between 2016 and 2017, the cost of a full charge in the UK increased by 27%, while the cost in France increased by just 2% and the cost in Denmark decreased by 5%.
A 21% increase since September 2021 – Seriously?!
The RAC’s charge watch has already noted a 21% increase since September 2021. This increase is likely due to the fact that more and more people are using electric cars, which in turn is putting a strain on the grid. The RAC is urging the government to do something about this issue, as it could lead to a major power outages – but for now the stations are just raising their prices to make themselves feel better. (Source)
Numbers of rapid chargers are increasing, but so are the kWh costs!
OK so electricity is on the rise we know that, perhaps we should just accept that?
No way! Especially as things the costs in the very near future are getting much steeper! Rapid charging costs for electric vehicles in the UK are set to increase dramatically in the final months of 2022, according to new research from energy provider SSE.
The study found that the cost of rapid charging an EV is likely to rise from £6.40 today to £8.80 in 2022, an increase of 36%.
Petrochemical Vs Electric Fuel (still cheaper).
Whilst there is no doubt that the cost of electric fuel is works out far cheaper than petrol or diesel (obviously) it is not escaping anyone with an electric vehicle that the costs of rapid & fast charging are also very much on the rise.
And whilst the final car fuel totals are still far lower than petrol and diesel – the percentages at which electric fuel is increasing at the rapid chargers are increasing at rates far beyond that of petrochemical.
Now you may not need to take out a second mortgage (just yet) and clearly there is a long way to go before we start looking back at petrol pumps, but with the UK economy teetering on the edge of a recession for many every penny counts – and we are here to help make sure that you know your options especially when it comes to making your EV charging as cheap as possible.
Home Charging Vs Rapid Charging Costs.
In the UK, the cost of home charging an electric vehicle is significantly cheaper than using a rapid charger. The average cost of home charging is £3.64, while the average cost of using a rapid charger is £11.88 (up to 80% charge). This means that it would cost £8.24 to fully charge an electric vehicle using a rapid charger, as opposed to £2.40 using a home charger, a very big difference.
It is also worth noting that the cost of using a rapid chargers can vary depending on the location. For example, the cost of using a rapid charger in London is typically higher than in other parts of the country. This is because there is a higher demand for rapid chargers in cities, and they are often in high demand amongst electric vehicle drivers – so let’s take a look at the average costs.
- BP Pulse 50kW unit will now pay 56p a kWh
- BP Pulse 50kW unit will now pay 56p a kWh
- Instavolt: 57p a kWh
- Shell Recharge 175kW: 59p a kWh
- IONITY: 72p a kWh
(Average across the UK on the 26th May 2022: Source)
Home EV Charging benefits.
Charging your electric vehicle at home can also save you money on your electricity bill. Electricity rates vary depending on your location, but charging your electric vehicle at home typically costs less than running other appliances in your home
EV Charging at home is cheaper – by a lot!
Even with the hikes in home energy throughout 2022, which on average 29% throughout the UK, this still comes out to be around 27p kWh and whilst there are even further price hikes looking to impact between October and December you can guarantee that the rapid chargers (as predicted) are going to rise far further still.
So the maths is simple enough: charging at home is a great deal cheaper per kWh and whilst the savings are as clear as day – the night could be even clearer still…
EV charging overnight.
Depending on your energy supplier and tariff your electric costs overnight can be one third of your standard tariff costs – so if you have or are getting a home EV charger you should contact your energy supplier and see if you can take advantage of overnight EV charging.
Slower overnight charging is better for your battery.
If you know anything about Electric Vehicles (EVs’) then you may already know that using rapid charging as your primary source of charging can have a negative impact on the battery. This is called EV battery degradation – and so whilst we all need the super and rapid chargers as we travel around, it is widely accepted as not being all that healthy for your battery and range for your car overtime.
Getting a Home EV charger cheaply
EV Home chargers come in a wide range of shapes and sizes and of course costs, some go as low as £400 (we really do not recommend you even bother with these) others range upwards of £2,000 to £8,000 + installation, but as Douglas Adams put it best in the hitch hikers guide to the galaxy ‘Don’t Panic‘. There are good alternatives, the Optimus EV Smart Charger being almost certainly the best of them all.