EVs Power Up Charging Costs

Tue 31st May 2022

The cost of running an electric vehicle is seen as economical compared to the spiralling costs of a petrol or diesel car, but new analysis from the RAC has shown that EV charging costs are on the rise.

Data published by the RAC shows that the cost of rapid charging has jumped by 21 per cent since September, with a cost of £22.81 to charge a 64kWh battery to 80 per cent at a public charger. That increase, which is just over £4 in eight months may worry those who made the switch to EV to save money, however when compared to the petrol rise, which has gone up by £14.54 in the same time period, it is still far more cost effective.

The analysis from one of the UK’s biggest motoring organisations shows that on average it costs 10p per mile to run an EV, with petrol at 19p per mile and diesel an eye-watering 21p per mile.

Simon Williams, the RAC’s spokesman for EVs said: “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.

“Unsurprisingly, our analysis shows that the quickest places to charge are also the most expensive with ultra-rapid chargers costing on average 14 per cent more to use than rapid chargers. For drivers in a hurry though, or travelling a long distance, paying this premium might well be worth it with the very fastest chargers capable of almost completely replenishing an electric car’s battery in a matter of minutes.”